Updated October 4, 2021
You can still open a BPI Europe account in London, UK.
But since December 2019, there have been changes:
- Remittance services are no longer offered at BPI Europe’s London branches
- Remittance services are no longer offered through the BPI online banking platform.
- Minimum initial deposit and average daily balance for the savings account and time deposit account
has been increased to 5,000 GBP. - For certain transfers or deposits, you will be required to present proofs of source of funds and purpose to comply with Anti-Money Laundering regulations before the transaction is processed.
- The BPI Europe website is being redirected to the website of BPI Philippines.
Why have these changes been made by BPI Europe PLC?
BPI Europe PLC has changed its business focus from retail banking to wholesale and corporate banking, securities and foreign exchange trading and loan syndication.
Its webpage says it wants to pursue a wider target market and maximize its presence in Europe.
BPI Europe PLC is licensed as a bank in the UK, authorized by the Prudential Regulation Authority (PRA), and jointly regulated by the PRA and the Financial Conduct Authority (FCA).
In 2016, Philippine banks, including BPI, shut down or significantly reduced their remittance operations in Italy due to costly and stringent anti-money-laundering requirements from Italian authorities.
Contact No. for BPI Europe PLC
Probably it’s best to phone or email first before you travel to their office:
Phone and email for general inquiries and client transactions:
(+44) 0207 835 0088
bpinoy@bpieuropeplc.com
Business hours:
Monday to Friday – 9:30am to 4:30pm
Important Information on Savings or Time Deposit Accounts
- No debit card issued
- Make your deposit over the counter at the Earl’s Court branch using your debit card
or make an online transfer from your other UK account - Withdraw cash over the counter at the Earl’s Court branch
or advise BPI Europe for transfer to your other UK account - Overdraft is not allowed
- Tax on interest is no longer withheld by BPI Europe PLC. Go to the HM Revenue & Customs (HMRC) website for guidance.
How to Open a BPI Europe account in British pound
Option 1 — Apply in person
1. Go to BPI Europe PLC (If you’re far from London, call first before traveling. There might be changes)
26A and 27A Earl’s Court Gardens
Earl’s Court, London, SW5 0SZ
Phone and email for general inquiries and client transactions:
(+44) 0207 835 0088
bpinoy@bpieuropeplc.com
Business hours:
Monday to Friday – 9:30am to 4:30pm
2. Bring these documents:
- Your Passport and Visa or Permit to Stay
- Your Proof of Address (any of the following: UK driver’s license
photocard, bank statement, credit card statement, council tax bill, landline phone bill, electric or gas billing) - Your ID picture (1 piece)
- Copy of your National Insurance card, payslip or HMRC letter that shows National Insurance Number
- Clear copy of your passport information page
- Clear copy of your visa/permit to stay
or clear copy of you permit to stay
(if you are a non-UK/EU passportholder) - Original bank statement, within the last 6 months
- Cheque, payable to yourself, drawn against your submitted bank statement account, minimum of 50 pounds
- 1 ID picture
- Copy of your National Insurance card, payslip or HMRC letter that clearly shows your National Insurance number
26A and 27A Earl’s Court Gardens
London, SW5 0SZ
(this address is updated as of October 2021)
Are Deposits with BPI Europe PLC Insured?
Yes. Your deposits are protected by the Financial Services Compensation Scheme (FSCS) up to a maximum of 85,000 pounds per depositor within a bank or banking group.
Are There Other Philippine Banks in the UK?
Yes, there’s another one, PNB Europe PLC, a subsidiary of the Philippine National Bank (PNB).
Is there a BDO branch or Metrobank branch in the UK?
None. What are operating are their remittance companies: BDO Remit UK and Metro Remit UK.
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