A BPI advisory has been rolled out by the Bank to all its clients with regards to updating account information before end of the month. The BPI advisory seeks to protect their clients from losing access to their accounts.
The BPI advisory says that if clients won’t update their accounts, they will lose access to ATM, online and other mobile services.
“If you are unable to update your account information on or before August 31, 2016, your transactions can only be serviced over-the-counter of our branches,” the bank said in an advisory dated August 26.
“You will not be able to access your account via any of BPI’s 24/7 electronic channels (i.e. ATM, Online and Mobile) until you have submitted your CIS (Customer Information Sheet) and ID,” it added.
According to reports regarding BPI advisory, customers of BPI will have to fill out and sign the CIS and the Foreign Account Tax Compliance Act (FATCA) Form, both available at the bank’s official website. They must then present the original copy and a photocopy of one valid, recent, and photo-bearing ID
“Submit these documents to any branch nearest you. You may also send original filled out and signed forms via courier or mail to your branch of account,” it said.
The account information update that BPI is requiring is in connection with the Bangko Sentral ng Pilipinas Circular 706 which required financial institutions to regularly update its customer information records.