You might be wondering what is so special about BPI? The truth is, it’s a lot more than just the name that makes this bank great. They are an island nation, which means they have their currency and banking system.
If you are looking for more details about BPI‘s system, you are on the right track. This post will provide you with information on how it came to be, where they are located, what kinds of products they offer, and much more!
What does BPI stand for?
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What Is BPI?
The oldest bank in the Philippines, BPI, has been around since 1851. It started as El Banco Español Filipino de Isabel II and continued operating under this name until 1986 when it adopted a new English translation for business purposes: “The Philippine Islands Banking Company.”
This early banking institution marked a turning point for banking and financial services throughout this region and Asia.
BPI is a well-established financial institution with more than 1100 branches and nearly 3000 ATMs in almost every corner of the Philippines, Hong Kong, and even Europe. They offer a wide range of services from consumer financing to investment banking for companies looking abroad or internationalizing their operations within the country’s borders with its help as well.
Net Income: PHP 21.41 billion (2020)
Total Assets: PHP 2.16 trillion (3/2021)
BDI Operation And Development
1828: This year, Spain’s King, Ferdinand VII, passed a royal decree allowing the establishment of a bank in the country.
1851: Isabel 2’s El Banco Espanol Filipino was now operational.
1898: After the United States took over from Spain, the bank became an institution of Filipinos.
1912: Our famous bank is renamed to Bank of the Philippine Islands or BPI for short.
1969: The Ayala Corporation buys out BPI’s shareholders.
1974: Peoples Bank & Trust Company is now owned by BPI.
1980: BPI starts doing leasing business.
1981: ATMs are made available after Commercial Bank & Trust Company is purchased and merged with another bank.
1982: The bank became an enlarged commercial bank.
1995: Purchase of the initial Cavite Savings Bank.
1999: There is an acquisition of Far East Bank and Trust Company.
2000: The launch of BPI Direct internet banking service and the acquisition by Ayala Insurance companies are both momentous events in Philippine history.
2002: The Philippines branch of DBS Bank has been acquired.
2003: Universal Malayan Reinsurance Corporation is the new name for the company’s reinsurance operations, which were previously part of the company.
Is BDI A Private Bank?
In 1969, the BDI’s relationship with Ayala Corporation grew stronger after the bank became a private company. It became the center for Ayala’s banking needs and insurance interests later on.
In the wake of a financial crisis, BPI grew and expanded its branch network through mergers. This campaign would last into the next century. The reason behind it is that it firmly positioned itself among the Philippines’ top banks by growing steadily with acquisitions that helped build up branches from 1974’s purchase of People’s Bank & Trust Company.
BPI is currently proud to continue its tradition of financing many private and public sector initiatives that have supported economic growth in this country.
What Products And Services Does BPI Provide?
Bank of the Philippine Islands offers a diverse range of banking services for consumers and companies. The Commercial Bank’s segments include Corporate Banking, Consumer Banking & Investment Banking.
Types Of Accounts
You’re in luck! The bank could help you find the perfect savings account. They offer savings accounts for all your needs, from basic to advanced, which increases your convenience and peace of mind. A savings account is a great way to save for the future. Not only does it earn interest, but your money also gets assured of your family’s benefits.
It’s so rewarding to see your savings grow with this account! You can keep earning more as you contribute or withdraw at any time for a fee. A savings account that lets you earn more as you save more makes saving very rewarding. The savings account can also be opened in USD.
- Funds-earning interests.
- Access to capital should be flexible and readily available.
- Savings account with higher rates of return.
- Enrolling recipient accounts allows for quick and easy fund transfers.
- If you don’t make a withdrawal during the month, you’ll earn 0.125 percent extra interest.
- Wherever BancNet or Mastercard are accepted, you can make cashless payments both online and in the bank.
BPI will provide you with a wide range of savings accounts
It’s easy to convert your US Dollars into Philippine Pesos on Forex. You can go online and do it through the BPI or in one of our branches.
Admittedly, BPI is a financial institution that provides convenient and secure ways to transfer funds from your bank account. You can use the online banking service available on their website or mobile application for iOS & Android devices.
The Send Money to a Pay Out Partner service is perfect for those looking to send money without the hassle of getting it through an account and making more significant transactions. With this option, you can send up Php 10K at once with no limit on daily sends; if needed, go over Php 50k in one day just by sending via mobile app or online transfer from BPI.
Interestingly, you can send in multiple currencies with no strings attached. You can send funds from anywhere to a foreign account overseas or even use your U.S Dollars.
Types Of Loan Products
BPI Personal Loan offers you an easy and quick way to borrow money from anywhere in the Philippines. You can get collateral-free loans from Php 20k to Php 2 million with monthly repayment options that suit your needs best ( pay in 12, 18, 24, 30, or 36 months).
You can easily make a personal loan in BPI
Types Of Cards
Are you looking for a way to ensure that your online purchases are safe? Well, look no further! With the BPI Visa Credit Card, all of these worries will be washed away like they never existed. The best part is that it has an accumulated spend requirement of only Php 100K, which won’t take long to get started right away.
BPI is committed to the security of its client’s information. Basing their approach on cutting-edge tools and processes, they use different techniques for protecting your account from pesky hackers who want access.
BPI confidently provides the best security service to customers
What Are BPI hotlines?
Type of Call
Number to Call
Domestic Long Distance
Mobile Phones in the Philippines
(+632) 889-10000; or (+632) 889-10000
Domestic Toll-free Number (PLDT)
At the Bank of the Philippine Islands, we’re always looking for ways to make things better. If you feel like your complaint has not been resolved or anything else about our services that needs attention, please email us at email@example.com.
What Are BPI Working Hours?
Except for those located in Iloilo, all branches are open from 9:00 AM to 2:00 PM on weekdays. Noticeably, The deadline for clearing checks will be at 11:30 a.m. Please take this into account when making branch visits. We encourage you to use BPI Online and the BPI Mobile app instead of going out for your daily banking needs.
On December 24, 25, 30, and 31, as well as January 1, 2021, all branches will be closed. Before the holidays, please take care of any outstanding bills and government business. Standard clearing cut-off times will be adhered to in this instance.
The BPI is a famous bank in the Philippines and offers a wide range of services to customers. If you are looking for a bank to create savings accounts or any related to financial services, then BPI is one of the best options you should consider.
If you need any help finding out more about BPI services and what they have to offer, give them a call today!
See also: The List Of BPI Branches Open Today