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Enuff

EastWest & MetroBank experiences

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Enuff

My wife has always had a BPI account so I wanted to set us up a joint account at MetroBank. I arrived from USA, went to the money changer at ParkMall then hit MetroBank there to open the account. Walked into MetroBank, sat for about 15 minutes then sat down with the new accounts rep. Then I was informed we each needed 3 forms of ID's, 2 pictures of each of us and a bunch of other "hurdles". The wife said, OMG we are opening account, not borrowing money. Needless to say I said thanks and left. Went back to our hotel at Mandarin Plaza and said we will walk over to Ayala and try another MetroBank branch. On the way over the Ayala, about 10 steps outside of our hotel, there is a very nice EastWest Bank branch. I said lets try. Walked in, spent 15 mins & left. Account opened, online access, interest bearing, free EastWest atm usage and a damn fine staff. Very professional and very efficient. All we needed was my USA drivers license & passport & 2 of her ID's.

 

Funny thing is when I got back home I checked up on account to make sure internet access was working and found out that 3 days after opening account we already earned interest, it was only 6 pesos for 2 or 3 banking days, but I'm very happy with EastWest Bank.

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Jawny

Thanks for sharing about EastWest Bank. I have used Metrobank for many years and will not likely change. However, it is good to know some banks do use a bit of common sense when enrolling new accounts. I will keep EastWest in mind if I want a change.

 

The BSP sets the standards for the banks here and one fundamental rule is KYM.....know your customer. That expression guides various bank branches to use very conservative and cautious ways of getting to know their customer. Usually it is the red tape hassles you described. I have been through that process with Metrobank and now it is not an issue. In fact, I have a good relationship with the local branch.

 

One of the issues I was concerned about was the online account access. I set up online access, but made the foolish mistake of reading the fine print of the agreement with Metrobank. What was made very clear was any mistake, would be my risk. In effect, the bank was saying if somehow there is an error, it is my burden to spot the error and get it corrected. The bank is declaring itself faultless.

 

Of course, one of the first warnings I had that they weren't as faultless as they thought was an email from them advising me of some sort of downtime. It was sent to hundreds of customers, myself included. We all got to see each other's email addresses.......whoops.

 

Another bizarre detail is their insistence on using my birthdate as my password to view bank statements. They sent the code (my birthdate) in an unsecured email to me. Kinda defeats any sense of feeling they are secure with my financial data.

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arentol

My own experiences, coupled with what I've heard from other "big-shots" in Cebu finance circles, is that Metrobank leads the way in terms of paperwork, documentation, requirements, and general headaches. Although every Philippine bank has an abundance of paperwork, Metrobank strives to outdo its competition in terms of trees felled.

 

I've paid off a car loan with EastWest and also have their credit card. So far no complaints, though any Philippine bank pales in comparison to their international counterparts -- in my humble opinion.

 

 

Cheers,

Aren

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passingby

East-\West no problems and Metro Bank a pain in the rear at least that is my experience.

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Ronin

 

 

though any Philippine bank pales in comparison to their international counterparts

 

I don't know...  I've been very impressed with BPI.

 

When you go into the lobby they have several ATM type machines set up.  You select your transaction there and it prints out a number.   The lobby has a lot of seating for your wait. When your number is called you go to the counter and since they already know what you want to do, the transaction is very fast.  This is better than the way it worked when I was in the US (Bank of America) - fill out a piece of paper and stand in line.

 

Btw, the BPI experience has been the same at several of the branches I've visited.

 

My MetroBank experience was total crap.

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Davaoeno

I do find the BPI system quite handy .  Except of course when the number it spits out is N98 and I see that they are currently serving N42 !!  One day I got my number, went and had a haircut, and got back to the back with still 11 more numbers to go before mine was called. 

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mexiwi

I have a Metrobank account - opened it at the Tamiya/MEPZ2 branch.

 

Just went in to get an account for my gf and one for me and was offered a joint account on the spot - but didn't take it, stupid me

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NOSOCALPINOY

I don't know...  I've been very impressed with BPI.

 

When you go into the lobby they have several ATM type machines set up.  You select your transaction there and it prints out a number.   The lobby has a lot of seating for your wait. When your number is called you go to the counter and since they already know what you want to do, the transaction is very fast.  This is better than the way it worked when I was in the US (Bank of America) - fill out a piece of paper and stand in line.

 

Btw, the BPI experience has been the same at several of the branches I've visited.

 

My MetroBank experience was total crap.

We've been with BPI forever! My experiences with Land, PNB, BDO, EastWest and Metro Banks were not so good! Nuff said, but I'm sure others will say otherwise! "Each to their own" as the saying goes!  

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Alfred E. Neuman

Go to Eastwest A.S.Fortuna branch. The pretty branch head is a very good friend of mine.

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arentol

Agreed that BPI is one of the better local banks, particularly their loan division near Terraces which handle applications fairly quickly with a minimum of documentation.

 

My feeling is that everyone has unique banking needs. For me international banks are a better option mostly due to the availability of multi-currency accounts (i.e., all major currencies and not just PHP and USD), accessibility, and the lack of onerous processes for simple transactions.

 

 

Cheers,

Aren

 

I don't know...  I've been very impressed with BPI.

 

When you go into the lobby they have several ATM type machines set up.  You select your transaction there and it prints out a number.   The lobby has a lot of seating for your wait. When your number is called you go to the counter and since they already know what you want to do, the transaction is very fast.  This is better than the way it worked when I was in the US (Bank of America) - fill out a piece of paper and stand in line.

 

Btw, the BPI experience has been the same at several of the branches I've visited.

 

My MetroBank experience was total crap.

Edited by arentol

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SkyMan

Metrobank is the arse of banking. Each branch is it's own separate bank and it's very difficult to get anything done at another branch and you are treated like scum because you aren't a member of their branch.

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