Jump to content

How to close my BPI account in CEBU from USA?


danroberts119

Recommended Posts

I have had some instances of banks being overly restrictive (in my view) but claiming that the BSP rules must be followed.  In the case at hand, it is not surprising the bank will not be cooperative with you since there is little they can do without a person in the bank, either you or a person with your permission.

Sorty to point out the obvious, but the risk of losing the money is the same as losing the money through the rules of the BSP. In effect, without action on your part, the money is lost.

If the amount is significant, then travel to here may be the best option.  Again, sorry to be so obvious.

it may be small consolation, but the bank may have failed to comply with notification requirements.  That is, when the account is to become dormant, the BSP requires the bank to notify the client.  Of course, if they sent the notice to an address which was no longer good, then they probably complied.

I just got four separate notifications from my bank that direct deposit fees would be increased this year.  The notifications were sent by courier at the banks expense.

  • Like 1
Link to post
Share on other sites
shadow
13 minutes ago, Jawny said:

I have had some instances of banks being overly restrictive (in my view) but claiming that the BSP rules must be followed.  In the case at hand, it is not surprising the bank will not be cooperative with you since there is little they can do without a person in the bank, either you or a person with your permission.

Sorty to point out the obvious, but the risk of losing the money is the same as losing the money through the rules of the BSP. In effect, without action on your part, the money is lost.

Indeed. In the case we were involved with, it was a Filipina sole heir, living in Hawaii,  trying to collect the money (about P1 million)left in her deceased parent's account. There were MANY road blocks, put up by the BSP, BIR, and the bank. If I recall it took almost a year, but she/we persisted and eventually the money was released to us.

Link to post
Share on other sites

None of the delays surprise me.  My SIL has made a deposit in a bank of several thousand euros. She got the receipt, went home.  A few days later, she went to get some money and the account was without the f)nds she had just deposited.

It took a week to get her money, and it was returned as cash to her her by the wife of the bank manager who had "borrowed" it.  Still working there. 

So, there is a risk of losing the money to incompetence, bureaucratic fumbling, corruption etc.  

  • Like 1
Link to post
Share on other sites
Headshot

Dan, just out of curiosity, is the CD worth enough to make a trip to Cebu worthwhile? If so, then it would probably be easiest for you to just come and clear the account yourself. If not, then whatever route you go the expenses will probably eat up a good portion of the CD value anyway. Remember, it will likely cost you some money to get a SPOA (since you need to have it validated at a Philippine Consulate), and unless their is family here that you trust, you will likely have to pay somebody to take care of the legwork (these things can get much more complicated ... or should I say convoluted ... than it first appears).

  • Like 1
Link to post
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
×
×
  • Create New...

Important Information

By using this site, you agree to our Terms of Use, Privacy Policy and Guidelines. We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue..

Capture.JPG

I Understand...