BPI to charge customers for select online, mobile transactions

MANILA, Philippines — The Bank of the Philippine Islands announced Thursday that it will charge customers for using some of its online and mobile banking features starting July 1.

In an advisory dated May 30, the Ayala-controlled lender said that fund transfers to unenrolled third-party accounts will have a fee of P10 per transaction, except for money sent through a quick response or QR code. A QR code is a graphic, black-and-white bar code that leads to specific online sites.

Transfer to unenrolled BPI accounts using QR code is free for a limited time, the bank said.

Sending money to other banks through BPI’s electronic fund transfer system “InstaPay” will have a fee of P50 per transaction.

But BPI said dollar to peso transfers, as well as transfers to own and enrolled accounts will remain free.

“Enroll your [third] party account/s to continue enjoying fund transfers at no cost. Just visit any branch or mail a signed Third Party Account Enrollment Form,” BPI said.

BPI netted P6.72 billion in the first quarter, up 7.6% from P6.25 billion in the same period last year. — Blanch Marie Ancla