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BPI To Open New Savings Account w/ Lower Maintaining Balance

BPI To Launch New Savings Account in June

BPI – The Bank of the Philippine Island is set to open a new savings account, the new BPI Saver Plus which has a lower maintaining balance.

A lot of people in the Philippines have savings accounts in the different banks. Many individuals choose to safeguard their savings in the bank and give it a chance to grow through an interest.

One of the most popular banks in country is the Bank of the Philippine Islands. A huge part of the Filipino populace visibly have accounts with the bank. It is one of the most trusted banking firm in the country.

However, recently, it received a backlash after it announced the changes regarding one of its savings account – the Maxi-Saver.

BPI
Photo: PhilStar

From Php 50,000.00 and Php 75,000.00 minimum daily balance for both Maxi-Saver debit card and passbook, the bank raised it to Php 2 million. In case the client falls below the set maintaining balance, Php 300.00 will be charged as a fee every month.

A lot of clients of the bank who has the said savings account were not delighted by the changes. Following the backlash, the bank made an announcement to launch a new savings account – the BPI Saver Plus.

Under the said new savings account, there is a lower maintaining balance at Php 50,000.00. The said new account to be launched by the Bank of the Philippine Islands will be available starting June 1, 2021.

With regards to the minimum balance to earn interest, it is Php 50,000.00. According to the bank, it is only exclusive for debit cards. There is no limit with regards to the maximum withdrawal a client can do in a month. With regards to the withdrawal fee, the bank has set it at Php 18.00 for every withdrawal or debit transaction.

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