Even if we’re at home with seemingly more time on our hands, time is still of the essence these days, especially when completing daily tasks and transactions, given the strict curfews and lockdown protocols in various areas all over the country.
To respond to the needs of its customers—while complying with ECQ guidelines—the Bank of the Philippine Islands (BPI) is implementing early cut-off schedules for certain services, as it remains committed to serving clients while ensuring the safety and well-being of its people.
The early cut-off time apply to the following services:
1. All clear? Know if your checks are still up for clearing. For most BPI branches, they now follow the 11AM cut-off time. As for foreign currency check deposits, this service is still temporarily unavailable due to bank operation limitations in other countries.
2. If you’re sending money to your loved ones, it’s better be on time than sorry. For remittances, take note of the new time for transferring money:
- Real-time Gross Settlement or Interbank PHP to PHP Transfers: 12:00NN
- Gross Settlement Real-Time or Interbank USD to USD Transfer and for Philippine Domestic Dollar Transfer System or End of day settlement: 11:00AM
- Outward Non-Trade: 3:00PM
- PESONetor transfers worth P50K and above to non-BPI accounts: 12:00NN
3. Can’t travel? Let your money do it for you with BPI’s Global Market transactions. These include buy-and-sell transactions of currencies (Forex), buy-and-sell transactions of ROPs and corporate bonds (FX Bonds), and conversion of US Dollars to Pesos for ATM-based accounts via BPI Online (Online Forex). All are still available but with updated cut-off time:
Forex (For Retail Clients): 9:00AM to 2:30PM (PST)
- This includes servicing the following currencies: US Dollar (USD), Euro (EUR), Hong Kong Dollar (HKD), Australian Dollar (AUD), British Pounds (GBP), Japanese Yen (JPY), Singapore Dollar (SGD), Canadian Dollar (CAD), Swiss Franc (CHF), and Chinese Yuan (CNY).
- FX Bonds: 9:00AM to 12:00PM (PST)
- Online Forex: 9:30AM to 5:30PM (PST), Mondays to Fridays, except holidays and weekends.
4. For those who are still actively trading on the stock market, the trading hours for BPI Trade are from 9:30AM to 1:00PM
5. Still got a lot of special banking transactions on your plate? Consider these cut-off times for accomplishing these transaction services:
- Corporate Cash Deposit Machine
- 1st cut-off: 10:00AM
- 2nd cut-off: 2:00PM
- Trade and Supply Chain
- Letters of Credit
- Letter of Credit / Standby LC Issuance and Amendment: 10:00AM
- Bank Guaranty / Endorsement: 12:00PM
- Negotiation and Settlement: 12:00PM
- Non-Letters of Credit
- Advance Payment / Direct Remittance: 12:00NN
- Open Account / Document Against Acceptance Booking: 12:00NN
- Open Account / Documents Against Acceptance / Documents Against Payment Settlement: 12:00NN
- Trust Receipt
- Trust Receipt Booking/Import Bills Payment – 12:00NN
- Trust Receipt Settlement – 12:00NN
- Exports – Inward Remittance (CPO): 2:00PM
- Exports – Nego: 11:00AM
- Exports – Payments: 12:00NN
- Final Duties: 3:00PM
- Supply Chain (Receivable Finance/Supplier Finance): 12:00NN
BizLink in the new normal? We got you covered:
- Pay Non-BPI: 8:00AM to 12:00NN
- Pay Foreign: 8:00AM to 12:00NN
While cut-off schedules may still vary depending on the branch location and changing ECQ guidelines, BPI assures its clients that the bank remains committed despite the widespread lockdown due to the COVID-19 pandemic.
For more details and bank schedule updates, you may visit bpi.com.ph.
