BPI assures clients: accounts ‘safe, secure’

OFFICIALS of the Bank of the Philippine Islands (BPI) have assured their clients that their accounts are safe and secured following complaints over “debit account deductions.”

In an advisory posted on social media Wednesday, Jan. 4, 2023, BPI said there was “duplicate transaction” of ATM (automated teller machine), CAM (cash accepting machine) deposits, POS and e-commerce debit transactions from Dec. 30 to 31, 2022. But it added: “Please be informed that we expect correction of the duplicate transactions within the day.”

Several BPI clients took to social media to raise their concerns after noticing “unauthorized debit transactions” on their accounts.

Most of them experienced double posting, or double deduction transactions from 0431 Debit Memo, losing as much as P40,000 or more.

Afraid of losing more money, some account holders rushed to nearest BPI branches and ATMs to withdraw their account or transfer funds online to another bank or e-wallet. But BPI account holders also reported difficulty accessing the bank’s mobile application and its official website.

“Given the high volume of inquiries on our online banking channels, you may experience intermittent access to our web and mobile app platforms,” BPI said.

SunStar Cebu contacted BPI’s local office Wednesday for further clarification, but it did not receive a reply.

Likewise, Bangko Sentral ng Pilipinas (BSP) has directed BPI “to submit a timeline and updates on the reversal of its erroneous transactions.”

BSP added that the concerned Bank had already identified the main problem, and it had committed to correct erroneous transactions and restore to the soonest possible its internet banking services.

“BSP is closely coordinating with BPI in relation to the double debit transaction incident affecting BPI account holders,” BSP said in a statement.