BPI moves update deadline to Sept. 30

AFTER releasing a memo imposing an Aug. 31 deadline to its clients to update their information, the Bank of the Philippine Islands (BPI) has moved the deadline to Sept. 30.

“Last Friday and over the weekend, BPI made two announcements requiring all our clients to update their information with us. We have subsequently received feedback from you and acknowledge that our announcements have raised concerns. We sincerely apologize for the inconvenience this has caused you,” the BPI said in a statement.

In one of the memos that was released online, the BPI directed its clients to update their online information on or before Aug. 31 so they can continue access to their online accounts as well as ATM transactions.

In a Facebook note, BPI explained the corrections to their earlier announcement.

“We wish to clarify that these recent announcements apply only to a limited number of individuals, with whom we have already communicated separately. Should you have any questions, please visit us at the branch where you maintain your account or e-mail us at expressonline@bpi.com.ph,” BPI said.

The bank is now requiring its clients to update its information by Sept. 30, otherwise they could not access their accounts via any of BPI’s 24/7 electronic channels (i.e. ATM , Online and Mobile) “until you have submitted your CIS and ID.”

After Sept. 30, the clients may only transact over the counter until their files have been updated.

The memo was based on a Bangko Sentral ng Pilipinas 706, which required financial institutions to update account information.

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