Metrobank's Loss is BDO's gain

[mark_t]

Na paso din ako dyan sa metrobank and closed my accnt in 2003 and never looked back. Pareho lang sila ng Bpi, parang bastos sa cliente nila. Nawalan nga ako ng 10,000php noong 1998 sa BPI na pinasa diyos ko na lang. Dahil andami pa ako kailangan gawin para mabalik sa akin eh sila me hawak ng system nila hindi ako, they have to fix that on their end dahil hindi ko puede gawin yan sa bahay ko and the money has always been in the bank. But what really broke the straw with me is the International Tax that they where charging me from time to time (which I found out only when I got a copy of my SOA) and when I asked for an explaination wala maisagot sa akin. Ibig sabihin hindi alam nang branch personel mga charges nila? Hell has anybody heard of this International Tax? Hindi pa nga ako lumabas ng pilipinas eh! So I also closed my accnt with Bpi. Kinalimutan ko rin sila for a couple of years.Pero kailangan mo pa rin mag maintain ng accnt sa kanila kasi maganda talaga pag same branch kayo ng sinisingil mo, wala ng clearing sa checks deposits ma widraw mo na agad. Sa Bpi useless internet banking. If you want to find out use it.Sa BDO naman maganda internet banking and wala ng charges ang mga interbranch deposits. Satisfied ako sa Bdo internet banking.Sa HSBC maganda kasi asikaso ka kaagad kaso ang layo ng branch ko.Sa UCPB naman, dito lang ako pinagtitimpla ng coffee. Wala akong pera ha.So I gues they are mistaking me for another person. But I like it and would not mind getting used to it.

[mark_t]

Banks require that you personally see a bank officer in order to open accounts. It is a BSP regulation. Part of the KYC (know your customer). The officer will interview you to determine:

1. If you have a record (in BAP or negative files). You get on the BAP for bad credit (not paying loans or your credit cards), or issuing bouncing checks (mishandled account). If your name comes up, the bank will not open the account for you.

2. Determine the source of your funds (payroll, business, etc). This is part of AML (anti-money laundering) law. Just to make sure your money source is legit.

3. Get you to sign on their signature cards and to fill up their account opening forms.

Now the above procedure is for new clients. Existing clients need not have to fill in more details if say you want to open a checking account after having 2 savings accounts in the past. You will need to sign their signature card for the checking account. You ask, well you got my signature already for the savings accounts, why for the checking? Well, people may sign differently on checks vs other documents. I do. Better security doing that, but that's just me.

I guess, and I said I am guessing, Metrobank may have different terms and conditions for checking accounts vs savings, hence the need to fill up the new forms and to sign. In case you go to court, Metro will present your account opening forms with your signature in it as proof that you had agreed to the terms and conditions of having a checking account.

Assuming the terms and conditions are the same, then you need not show up in the branch and just wait for your checkbooks to be delivered. The bank will debit you for the checkbooks and depending on their procedures, may require your signature. Some banks have recorded phone conversations so instructions given over the phone are admissible in court in lieu of a signed document. I find this convenient as it saves me from having to make that trip to the branch.

As to online services, I applied for a BPI credit card using their online facility. Next business day, I got a text message asking me to call their customer service number and to mention the reference number in the sms message. Efficient and high tech! I called the number and 9 minutes later, someone picked up the call and told me to submit my ITR either through fax or email. Not good client experience having to wait 9 minutes on the phone. If I called via handphone, that would have been almost P100. I emailed my ITR with the reference number. It's now more than 11 days since I emailed my ITR and I still haven't seen the card. So much for BPI online service.

On depositing cash in a PSBank branch, to another account in another branch of PSBank, I was charged for it. What? I'm putting money in your bank and you're charging me a fee? P50 for deposit amounts below P100,000 and P100 for amounts greater than P100,000. I argued with the branch manager saying that you guys don't physically transport the money over to the other branch do you? Everything is electronic! She didn't budge. Clients who overheard the conversation said that this was common practice amongst banks. I guess this is a fee income generation activity of the bank and these other clients have resigned themselves to it. Pity. Fortunately, my bank doesn't charge me for that nor when I do online transfers to another account within my bank.

One other thing I learned about money transfers or funds transfers. Banks receive your money like within 24 hours after the other bank sends the money. Your bank holds on to the funds for a day or two more. Friend of mine said that this is what they call float income. Not only did the sender get charged for sending money, but the bank debits the recipient for the incoming transfer and holds your money for a day or two! Sobra! Kawawa naman yung mga OFW natin!

On ATM service, I am happy with my bank's ATM service. Always online. Lots of security guards, well lit and neat surroundings. They also don't charge fees for using other bank's ATMs. Terrible thing to be running around the mall, looking for an ATM that's online. If it is online, haba naman yung pila. By the time you get to use it, out of cash naman! Aaarggghh!!!! Worse, your account got debited but no cash comes out of the ATM! Aaaaarggghhh!!!! Buti na lang may credit card.

On BDO internet banking, my wife asked what she needed to do to get into that service. She was asked to fill up a form. What??? She asked how long before she will be able to get in. Answer: About 2 weeks. Huh? She said, forget it. Online service should be available through online application. Not stupid paper-based processes. I don't feel it is secure as along the way, someone could tap into my wife's account before we get the log-in process from BDO.

End of rant.

Bakit ako online lang pag enroll ko sa bdo internet banking?Baka eng eng lang nakausap mo? Try mo mag enroll online, yon lang ginawa ko.

[daimengrui]

Badtrip talaga dyan sa metrobank. Dati nagtry din ako magopen ng checking account sa kanila. Then nung nalaman nila na balak ko magopen ng home loan sa bpi and gagamitin ko yung checking account ko sa metrobank to issue checks aba hindi ako pinayagan. Sabay binigyan ako ng papers nung homeloan nila. Tignan ko raw, and dun na lang daw ako kumuha ng home loan sa kanila. In short, ayaw nila ko bigyan ng checking account kasi hindi ako sa kanila kukuha ng home loan. Jologs talaga yun. Kakabad trip.

I think this allegations have bearing. I was actually interrogated where I would use the CA. I said it's for paying for misc large transactions such as paying for condo bills / car mortgage or whatever should my other checking accts burn out. Exactly as a means of avoiding bouncing checks.

I had not problems applying for equitable CA before actually 1 day lang bnigay na checkbook ko. Pwede i cite ang bank for anti competetive practices. Thats monopolistic if they dont give you a CA just because sa iba ka kukuha ng loan.

[Hardright]

Bakit ako online lang pag enroll ko sa bdo internet banking?Baka eng eng lang nakausap mo? Try mo mag enroll online, yon lang ginawa ko.

Malamang, eng eng yung kausap ko. Will ask my wife to try logging in and let you know what she experienced.

[Cult Zero]

nung nag apply ako more than a year ago nagpunta pa rin sa BDO. dinowload ko yun application sa website nila, filled it out then submitted it to the branch office. ewan ko lang kung pwede na yun purely online ngayon...

[Horsepower]

I don't get what's the big deal is here.

If this Metrobank is not working to your liking, just go and find another bank.

[mazdamazda]

I don't get what's the big deal is here.

If this Metrobank is not working to your liking, just go and find another bank.

What is this doing in the Goon Squad in the first place....

Goon Squad... Let's make our streets safer, cleaner and more orderly. This is our advocacy! Let's use this forum for this cause. Report violators, 'kotong cops', call the attention of the proper authorities or suggest actions here.

[tanoshi]

I haven't read the first post yet, last page agad, anyway share ko lang ways and means ko:

I have BPI & PSBank account pero none of them are flexible to transfer to another bank.

I'm currently using Union Bank's EON Cyber account and i'd been using it for the last 6 years and so far satisfied naman ako, exept if transfers are made to "BPI" which seems to have problems & more than usual delays. I used to transfer effectively to other banks than Union Bank pero I advised my other recepients to apply for an EON account online para real time ang transfer. So I'm transfering funds realtime now to people around the country while my remaining funds gains interest (mailiit nga lang like other regular savings), no receiving fees, interbranch fees, no minimum balance required. The only fee they charge is yearly membership fee, 350 or 450.
If in-coming additional funds to my EON account is from abroad wala namang mga additional charges.

Hope this helps to others out there.

[Horsepower]

grammar oversight:

I don't get what the big deal is here....

[niwde11]

i bank with metrobank and ucpb.
based on the way the TS post, i suggest you go to ucpb. super importante ka. PM mo lang ako kung interested ka
but i have no problem with metro. tama sabi nung isa, if you want something not in the protocol, a simple call to the branch manager will surely help.
but if most of your clients are metro, you will surely miss one thing. once I deposited a metrobank check(cross check sya and company check), branch manager even said to me, "do you need this in cash now?". sabi ko "pwede ba?". she said "yes as long as me pondo na". :D