If you’re a Filipino living in the UK,
you can open a BPI Europe account in London, UK
But as of December 2019, there have been changes:
1. Remittance services are no longer offered at BPI Europe’s Earl’s Court Branch.
2. Remittance services are no longer offered through the BPI online banking platform.
3. Minimum initial deposit and average daily balance for the Star account
has been increased to 5,000 GBP.
4. 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.
Why have these changes been made?
BPI Europe PLC has changed its business focus from retail banking to wholesale and corporate banking, securities and foreign exchange trading and loan syndication.
If you’re a British resident but not Filipino, you need to explain why you’re opening an account with BPI Europe, as there are many British banks where you can easily open an account. I think this has something to do with the relenting pressure on banks to prevent money laundering. Of course, BPI Europe might have other reasons.
In 2016, Philippine banks closed their bank branches in Italy due to costly and stringent anti-money-laundering requirements from Italian authorities.
If you’re a British expat in the Philippines, you now need to show your atm or passbook issued in the Philippines before they consider your application. Or it might be better if you ask your BPI bank branch in the Philippines if they can assist you in opening a BPI Europe account.
Probably it’s best to phone or email first before you travel to their office:
Phone and email for general inquiries and client transactions:
0207 835 0088
Monday to Friday – 9:30am to 4:30pm
How to open a BPI Europe account in British pound:
Option 1 — Apply in person
1. Go to BPI Europe PLC
26A and 27A Earl’s Court Gardens
London, SW5 0SZ
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
London, SW5 0SZ
Are there other Philippine banks in the UK?There is another one, the Philippine National Bank (PNB).
Is there a BDO branch or Metrobank branch in the UK?
None. What they have in the UK are remittance companies.