BPI Forex Broker

BPIReview SummaryFounded1851Registered Country/RegionPhilippinesRegulationNo regulationServicesLoans, investments, insurancePlatform/APPBPI appMinimum DepositPhp 1Customer SupportLive chat, contact formTel: (+632) 889-10000Email: investorrelations@bpi.com.phFacebook, X, Instagram, Linkedin, YouTubeAddress: Ayala Triangle Gardens Tower 2, Paseo de Roxas corner Makati Avenue, Makati City 1226BPI Information BPI is an unregulated service provider of financial services, which was founded in Philippines in 1851. It offers services for loans, investments and insurance.Pros and ConsPros Cons Long operation timeLack of regulationVarious financial services offeredMultiple acocunt typesLow minimum deposit requirementLive chat supportIs BPI Legit? BPI has no valid regulations currently. Please be aware of the risk!ServicesServices SupportedLoans✔Investments✔Insurance✔Account Type Savings AccountAccount TypeMinimum DepositSaver-PlusPhp 3,000#SaveUpPhp 1Maxi-SaverPhp 2,000,000Regular SavingsPhp 3,000Pamana SavingsPhp 25,000US Dollar Savings$500#MySaveUpPhp 1Pamana PadalaPhp 500Padala MoneygerPhp 0 Checking AccountAccount TypeMinimum DepositRegular CheckingPhp 10,000Maxi OnePhp 25,000BizLink CheckingPhp 10,000 Time Deposit AccountAccount TypeMinimum DepositAuto Renew Time DepositPhp 50,000Plan Ahead Time DepositPhp 50,000US Dollar Time Deposit$1,000BPI Fees Card Membership FeesCard TypePrincipal Card1st Supplementary Card2nd to 6th Supplementary CardBPI Signature CardPhp 5,500/yearFree for LifePhp 2,750/yearBPI Amore Platinum Cashback CardPhp 5,000/yearPhp 2,500/yearBPI Platinum Rewards CardPhp 4,000/yearPhp 2,000/yearBPI Gold Rewards CardPhp 2,250/yearPhp 1,125/yearBPI Amore Cashback CardPhp 2,050/yearPhp 1,025/yearBPI Rewards CardPhp 1,550/yearPhp 775/yearPetron BPI CardBPI Edge CardPhp 110/monthPhp 55/monthBPI Family Credit CardPhp 1,350/yearPhp 675/yearBPI Corporate CardPhp 1,700/yearNot applicableBPI eCredit Card0 Interest Rates and ChargesTypes of Fees & ChargesDetailsFeeFinance Charge or Nominal Interest Rate1 (Effective Interest Rate per month 2)A Cardholder has the option to pay the Total Amount Due, the Minimum Amount Due, or any amount in between. Finance Charges are incurred when Cardholder pays any amount less than, or does not pay on Payment Due Date, the Total Amount Due, applicable on regular purchases, billed monthly installment amortizations, fees, and interest charges, exclusive of those incurred during the current cycle.3% (2.73%)Cash Advance Finance Charge or Nominal Interest Rate1 (Effective Interest Rate per month 2)Incurred when the Cardholder avails a Cash Advance transaction, applicable on the cash advance transaction amount and cash advance fees, accrued from transaction posting date until full payment date.3% (3.16%) Installment-Related FeesTypes of Fees & ChargesDetailsFeeSpecial Installment Plan (S.I.P.) Add-on RateIncurred upon approval of a S.I.P. Loan, applied to the total loan principal amount monthly for the loan's duration. The specific rate applied is dependent on the loan type, offer, and term availed.Up to 1%Special Installment Plan (SIP) Loan Service FeeIncurred per approved S.I.P. Loan availmentPhp 500 for each Balance Transfer, Credit to Cash, and Balance Conversion availment above Php 50,000. Php 300 for all Balance Transfer, Credit to Cash, Balance Conversion up to Php 50,000 and all other S.I.P. Loans variants, per availmentSpecial Installment Plan (S.I.P) Pre-termination FeeBilled upon processing of a S.I.P. pre-termination request.Php 550 pre-termination fee plus 2% of the loan principal amount if Installment is pre-terminated before the first billing.If pre-termination is done after the first billing, a processing fee of Php 550 plus applicable interest of the next monthly payment using the diminishing balance method will be charged. Transaction FeesTypes of Fees & ChargesDetailsFeeCash Advance FeeIncurred per Cash Advance transactionPhp 200 flat fee per transactionForeign Transaction Service FeeIncurred by transactions denominated in foreign currencies or originating from foreign merchants and/or acquirers0.85% plus the Mastercard / Visa assessment fee of 1% shall apply to the converted amount of foreign-denominated transactions, using the foreign exchange rate of Mastercard / Visa at the time the transaction is posted. The Mastercard / Visa assessment fee of 1% shall also apply to:A. foreign currency transactions converted then billed in Philippine Peso at point-of-sale or;B. transactions charged in Philippine Peso by a foreign acquirer at point-of-sale. This fee applies whether the transaction is made in/outside the Philippines or online.Gaming Transaction FeeIncurred by any gambling-related transactionPhp 500 or 3% of the gaming transaction, whichever is higher, shall be charged for every gaming transaction in casinos and/or online betting Service FeesTypes of Fees & ChargesDetailsFeeCard Replacement FeeIncurred per replacement requested for lost, stolen or damaged cardsPhp 400Check Protect FeeIncurred per check funded by the BPI Credit Card limit, for Cardholders enrolled in BPI Deposit's Check Protect servicePhp 1,200 or 2% of the funded check amount by the BPI Credit Card, whichever is higherStatement of Account FeeIncurred per requested printed copy of the BPI Credit Card Statement of AccountPhp 200 per statement of accountAccount Maintenance Fee 1If the account is inactive/closed/cancelled with an overpayment, a monthly fee shall be billed, until the balance is zeroed out.Php 200/month or the overpayment amount if less than Php 200, will be debited from:A) Closed credit card accounts with overpayment for more than 1 month from the date of termination / cancellationB) Credit card accounts with overpayment with no activity for the past 12 monthsClosed Account Maintenance Fee 2If the account is inactive/closed/cancelled with an overpayment, a monthly fee shall be billed, until the balance is zeroed out.Php 50/month will be charged to terminated/ cancelled card accounts with credit balances for more than 1 month from the date of closingExpress Start Cancellation Fee 3Incurred if the first-issued BPI Credit Card enrolled under the Express Start program is cancelled before the first anniversary date, except if cancellation is due to non-delivery of such BPI Credit Card(s).Php 1,500 Penalty FeesTypes of Fees & ChargesDetailsFeeLate Payment FeeIncurred if no payment is applied or payment applied to the BPI Credit Card is less than the Minimum Amount Due by the Payment Due DatePhp 850 or equivalent to the value of the unpaid minimum amount due, whichever is lower, will be charged per occurrence per card.Returned Check FeeIncurred for every dishonored check issued by the Cardholder in payment of his / her accountPhp 100 for every dishonored check and additional 6% of the check amount In case of default, the cardholder shall pay the following in addition to penalty and charges:Types of Fees & ChargesDetailsFeeAttorney's FeeIncurred if the Cardholder's account is referred to a lawyer or to a collection agency25% of the amount dueLiquidated DamagesIncurred if the payment of the Cardholder's account is enforced through court action25% of the unpaid amount, plus litigation expenses and judicial costsPlatform/APPTrading PlatformSupported Available Devices BPI app✔Mobile, PC, webDeposit and Withdrawal BPI accepts payments via credit/debit cards and bank wire. Neteller and skrill is said to be coming soon.