The Bank of Philippine Islands (BPI) is asking its clients to update their account information before the end of the month or risk losing access to its electronic services, including automated teller machines.
"If you are unable to update your account information on or before August 31, 2016, your transactions can only be serviced over-the-counter of our branches," the bank said in an advisory dated August 26.
"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 clients should submit an updated Customer Information Sheet (CIS) and Foreign Account Tax Compliance Act (FATCA) Form at any BPI branch on or before Wednesday, August 31, BPI said in an advisory posted on its website.
The request is pursuant to a circular issued by the Bangko Sentral ng Pilipinas (BSP) which required financial institutions to regularly update its customer information record.
The deactivation of the electronic channels, which include ATMs, mobile banking and express online transactions, will start on September 15 and will be done on a staggered basis, said Maria Dina Soriano, vice president and head of the customer care department at BPI's Retail Banking Group.
Source: ABS-CBN
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