BPI tells clients: Update info or lose access to ATM, mobile, online services

The Bank of the Philippine Islands (BPI) has told all its clients to update their account information or risk losing access to their accounts through automated teller machines, online, and mobile services.

After initially saying that the deadline is at the end of the month, BPI Strategic Brand Management Head Tricia Marie C. Quiambao told GMA News Online that the initial advisory released was supposed to indicate September 30 as the deadline.

"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.

BPI has since released an updated advisory, reflecting the necessary changes. The bank also clarified that clients who have already updated their client information earlier this year do not need to do so anymore before the deadline.

"If you have updated your client information this year, you may disregard this advisory," it said.

According to BPI, customers 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 lender said this is in connection to the Bangko Sentral ng Pilipinas Circular 706 which required financial institutions to regularly update its customer information records. —Jon Viktor D. Cabuenas/JST, GMA News