BDO Maintaining Balance Penalty

Updated October 3, 2021

The BDO Maintaining Balance Penalty is 300 pesos per month. It is charged at the last business day of the month. Charging starts from the 2nd consecutive month that you have not maintained your account. Dalawang magkasunod na buwan.

Sample Question about BDO Maintaining-Balance Penalty:

Last June 30, my BDO ATM account was charged with a below-maintaining-balance penalty of 300 pesos.
On July 11, I deposited 1,000, making my balance 2,300, and higher than the required maintaining balance of 2,000 pesos.
On July 31, I was deducted 300 pesos again. Why?

Answer:

Your 300-peso deduction on July 31 was your penalty for falling below your required BDO Maintaining-Balance for 2 consecutive months (June and July).

Your required Maintaining-Balance or required Average Daily Balance (ADB) every month is 2,000 pesos.

Your ADB in July was 1,977.42. This ADB is below the required 2,000 pesos.

To avoid BDO maintaining balance penalty, maintain your ADB every month.

Here’s how Average Daily Balance (ADB) for the month is computed:

These are your daily balances from July 1 to July 31:

July 1     1,300
July 2     1,300
July 3     1,300
July 4     1,300
July 5     1,300
July 6     1,300
July 7     1,300
July 8     1,300
July 9     1,300
July 10   1,300
July 11   2,300
July 12   2,300
July 13   2,300
July 14   2,300
July 15   2,300
July 16   2,300
July 17   2,300
July 18   2,300
July 19   2,300
July 20   2,300
July 21   2,300
July 22   2,300
July 23   2,300
July 24   2,300
July 25   2,300
July 26   2,300
July 27   2,300
July 28   2,300
July 29   2,300
July 30   2,300
July 31   2,300

Let us compute your Average Daily Balance for the month of July.

The formula is:
Add all your balances everyday from July 1 to July 31
Divide the total balances by 31 days
The result is your Average Daily Balance for the month of July.

Total of Daily Balances from July 1 to 7:

1,300 x 10 days = 13,000

Total of Daily Balances from July 8 to 31:
2,300 x 21 days = 48,300

Total of Daily Balances from July 1 to 31:
13,000 + 48,300 = 61,300

Divide the Total for July by 31 days:
64,300 / 31 = 1,977.42

For BDO ATM savings accounts, the required Average Daily Balance (ADB) every month is 2,000.

Your ADB (1,977.42) for July is lower than 2,000.

It means you were not able to maintain 2,000 in July. You were also not able to maintain your ADB in June.

This is the reason why you were again deducted 300 pesos (the BDO Maintaining Balance Penalty). It’s because you were not able to maintain your required ADB of at least 2,000 pesos in June and July (2 consecutive months).

Note:
 * Many banks compute ADB on the last business day of the month.
 * If the last day of the month is a holiday, Saturday or Sunday, banks compute ADB on the last banking day of the month. Reference: ATM Savings

Tips to Avoid the BDO Maintaining Balance Penalty

. Kung hindi mo na-maintain ang 2,000 pesos na ADB itong current month, make sure na sa susunod na month ay ma-maintain mo na. From the first day of the month to the last day of the month, dapat andon sa account mo yong 2k or more.
. Kung palagi kang nababawasan ng 300 pesos na penalty, siguro it’s a sign na to look for an account with zero or low maintaining balance.
. Marami nang digital accounts ngayon na WALANG required na maintaining balance. Kahit initial deposit, hindi required. Licensed by the BSP din ang mga ito. Meron ding deposit insurance with the PDIC. Try any one of these: OFBank (for OFWs and beneficiaries), Tonik, Diskartech, Komo by Eastwest, GSave of GCash and CIMB, ING Bank, UnionBank digital accounts. I-download mo lang yong mobile app at sundin mo yong instructions. Be ready with your ID and be prepared to upload your selfie.
. Kung ayaw mo nang digital, meron pa ring yong mga accounts with low maintaining balance requirement, kagaya ng Landbank atm savings account na 500 pesos lang ang required ADB. Go to this post to see other bank accounts with low maintaining balance requirements.

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