Updated February 11, 2018
BPI Direct Savings Bank is now called BPI Direct BanKO, Inc., A Savings Bank. Its purpose now is to serve unbanked and underbanked communities across the country.
With BanKO, people can open accounts, deposit and withdraw money at BanKO outlets, which can be a pawnshop, a money changer outlet, a drugstore, or a sari-sari store.
It’s also called BanKO
A subsidiary of BPI
BPI Direct BanKO arose from the merger of the Internet bank BPI Direct Savings Bank and the mobile-phone-based bank BPI Globe BanKo in early 2017.
Transactions that can be done with a BanKO account:
Load mobile phones
Pay bills
Receive remittance from abroad
Transfer money
Pay purchases
How to Open a PondoKo savings account:
Go to a BanKO partner outlet.
Here’s a list of BanKO partner outlets.
Bring the following:
. One valid ID
. One photocopy of valid ID
. Your Globe or TM SIM card
. 50 pesos for initial cash-in
. 50 pesos for the ATM card
BPI Direct Savings Bank is the Internet bank of the Bank of the Philippine Islands (BPI). It’s the first Internet bank in the Philippines, and has grown to become the 12th largest savings bank in the country by total assets, as of March 2012.
See here the other Philippine bank accounts that you can open while abroad.
You can email BPI Direct: bpidirect@bpi.com.ph
or call BPI Direct:
Metro Manila: 89-100
Domestic Toll-Free: 1800-188-89100
Overseas: International Access Code-632-8910000
You can open a BPI Direct account while abroad if you are in the following countries:
Bahrain
Hong Kong
Italy
Spain
UAE
US
Of course, you can open a BPI Direct account while in the Philippines.
Go to bpidirect.com. Click Open a Deposit Account. Follow instructions. Fill up the application form, submit, and then wait for instructions via email for the completion of your account opening.
What accounts are offered by BPI Direct?
Savings Accounts:
BPI Direct Express Teller Savings Account
Initial Deposit: 500 pesos
Maintaining Balance: 500 pesos
Minimum Average Daily Balance for the Month (ADBM) to Earn Interest: 500 pesos, 1% annual
BPInoy Savings
Initial Deposit: None
Maintaining Balance: None, but there should be at least one remittance from abroad every 6 months
ADBM to Earn Interest: 500 pesos, 1% annual
BPI Direct Save-Up Automatic Savings Plus Insurance
Initial Deposit: None
Maintaining Balance: 1,000 pesos
ADBM to Earn Interest: 1,000 pesos, 1% annual for balances less than 400k, 1.5% for balances more than 400k
Features:
1. You are issued a Save-Up Info card, instead of an ATM card. This way, you cannot withdraw easily. Withdraw by transferring your funds to another account.
2. Your free life insurance is 5 times your average daily balance for the past 3 months up to 2 million pesos.
3. Your free accident insurance is 5 times your average daily balance for the past 3 months up to 2 million pesos.
4. You can set an automatic transfer of a certain amount to your Save-Up account every payday or every month. You can also transfer money to this account at any time, aside from the automatic transfer.
Maxi-Saver Savings with ATM
Initial Deposit: 25,000 pesos
Maintaining Balance: 25,000 pesos
ADBM to Earn Interest: 25,000 pesos, 1.25% annual for balances less than 300k, 1.375% for balances less than 500k, 1.5% for balances less than 1M, 1.625% for balances 1M and higher.
Bonus Interest: 1% annual added to the interest for the month if you DO NOT withdraw within the month
Checking Account:
BPI Direct Maxi-One Checking Account
Initial Deposit: 25,000 pesos
Maintaining Balance: 25,000 pesos
ADBM to Earn Interest: 25,000 pesos, 0.75% annual
Where are the Branches of BPI Direct?
BPI Direct has no offices or branches, but you can use the facilities of BPI. You can deposit at any BPI branch.
You will choose one BPI branch where you will present your IDs after opening your account online, where you’ll get your ATM card, and where you can withdraw amounts higher than the daily ATM withdrawal limit.
Daily ATM withdrawal limit: 50,000 pesos
Where Can I Deposit Money?
– BPI cash deposit machines (No envelope, no writing, instant credit)
– any BPI branch
– funds transfer through your BPI Express online account (link your BPI Direct account to your BPI or BPI Family account)
Transaction Fees at ATMs Abroad:
Balance inquiry: US$ 1
Withdrawal of US$ 175 and lower: US$ 3.50
Withdrawal of more than US$ 175: 2% of amount withdrawn
Denied transaction: US$ 0.50
Monthly Service Charge for Falling Below Required Daily Balance for 2 consecutive months: 250 pesos per month
Monthly Dormancy Charge after 2 years of no deposit or withdrawal: 300 pesos per month
Open a BPI Direct Savings Bank Account While Abroad
NOTE:
If BPI Direct has not yet reopened its offer of account opening online, you can explore opening through these banks, subsidiaries or remittance partners abroad:
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