Bdo Vs Bpi

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It had to happen. Eventually. 


I won the lottery....well...that's how it feels.


Brief background:


Opened an account at BDO 5 months ago with my real estate agent as a co-signer. They offered me a cheque book but I declined for the moment. They just said no problem, put P25k in the account and we'll give you a cheque book. Mental note was taken so that if and when I required a cheque book I'd walk in and sort it out.


Stupid stupid stupid.


Of course that wouldn't happen. Way to straight forward. They caught me off guard.


Yesterday I walked in and they refused me a cheque book. I need 6 months with them and an average minimum balance for 6 months of P25k. I have 5 months and a low balance as it's simply an account that I transfer money from Australia to my staff for salaries and rent payments etc.


The really weird thing - I deposit about P100k a month into this account and it's going to grow next month onwards to P150k+ each month. They simply weren't interested.


The manager was unavailable so I walked out and asked at 2 other banks. All required 6 months. 


Then my gf happened to call the manager at BPI in Eastwood. He was very helpful and I met with him this morning.


He saw my account history with BDO and said no problem, just open an account and in one month I will approve a cheque book for you. He then gave instructions to the staff to make sure it's approved next month. The account was opened in less than 30 minutes and I will collect my ATM card tomorrow.


His eyes lit up when I discussed the incorporation of a company in the Philippines and I need a bank for that company in the next 2-3 months. Very happy to assist me with the same process when I need to get that done as well.


The difference between the service of these two banks was like two different planets. 


Again, just reinforcing my belief that getting things done here can be like a lottery. 









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Mike S

Sounds great Mark ...... I too am not a big fan of BDO ..... when I went there to open a second bank account so I could use 2 different  Phils banks I required about a safety deposit box and was told I would need to open a savings account of p500,000 and had to maintain that balance ..... just remember that SM owns BDO ..... we use Bank of Commerce and the safety deposit box was I think p1500 per year plus we had to have an account ... which we did .... our checking account took 6 months because I was a foreigner and p3000 upon opening the account .... USD account was $500 .... savings account was p1500 ..... BOC is owned by San Miguel Holdings so it ain't going anywhere .... when we first opened these accounts all I had was my rent stub and passport but that was almost 6 years ago ....  :thumbsup: 


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