30-Day Grace Period Covers BPI Credit Card Payments Amid the Community Quarantine in PH
BPI CREDIT CARD PAYMENTS – The Bank of the Philippine Islands is offering a 30-day grace period on the payments for credit cards.
A lot of people in the Philippines are financially struggling now. Many lost their monthly income amid the implementation of the community quarantines in the country which is needed to curb the spread of COVID-19.
For several weeks, many areas in the country are under an Enhanced Community Quarantine (ECQ). Some were under a General Community Quarantine (GCQ).
Under certain quarantine measures, several non-essential businesses temporarily stopped their operation. Employees under a no-work-no-pay scheme temporarily lost their monthly income.
The government launched the “Bayanihan To Heal As One” Act amid the fight against COVID-19 pandemic. In line with it, several companies suspended their payment collection.
The Bank of the Philippine Islands is one of the banks that suspended their payment collection. The bank offers a 30-day grace period for BPI credit card payments amid the national crisis.
According to the bank, the BPI credit card payment extension covers due dates that fall between March 17 to May 31, 2020. The said offer covers clients nationwide.
BPI stated that the S.I.P Installment Amortizations due will be added to the Minimum Amount Due in the next Statement of Account. With regards to Annual Membership Fee, it will not be waived. Instead, it will be billed at a later date to ease the financial struggle of the client amid the crisis.
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