What BPI charges for low savings account balances
BPI (Bank of the Philippine Islands) requires you to keep a minimum balance in most savings accounts. If your balance drops below that amount, the bank charges a monthly maintenance fee. The exact minimum and fee depend on which savings product you hold — BPI has several, and they do not all work the same way.
The most common BPI savings account is the BPI Savings Account, which requires a minimum balance of ₱1,000. If your balance falls below ₱1,000 at any point during the month, BPI charges a ₱300 monthly maintenance fee. This fee is deducted automatically from your account, which can push your balance even lower if you are already close to the limit.
BPI also offers the BPI Express Savings Account, which has a lower entry point: a minimum balance of ₱500. The monthly maintenance fee for this account is ₱150 if you fall short. Some branches or promotional periods may offer different terms, so confirm the current requirements with your branch or through BPI's website.
Key Takeaways
- The standard BPI Savings Account requires a ₱1,000 minimum balance, with a ₱300 monthly fee if you drop below it.
- BPI Express Savings Account has a lower ₱500 minimum, but charges ₱150 per month if you fall short.
- The maintenance fee is charged once per month and deducted directly from your account balance.
- Some BPI accounts waive the maintenance fee if you meet other conditions, such as maintaining a higher balance or setting up automatic transfers.
How the minimum balance is calculated
BPI does not require you to keep the minimum balance at all times. Instead, the bank checks your balance at the end of each month (or on a specific date set by your account type). If your balance on that date is below the minimum, you are charged the maintenance fee the following month.
This means you can dip below the minimum during the month without triggering a fee — as long as your balance recovers before the cutoff date. However, if you are regularly close to the limit, one unexpected withdrawal could push you under and cost you the fee.
The maintenance fee itself is deducted from your account, so if you are already at or near the minimum, the fee will drop your balance further. This can create a cycle where the fee keeps you below the minimum the next month, triggering another fee.
Accounts that waive the maintenance fee
Not all BPI savings accounts charge a maintenance fee. Some products are designed for customers who want to avoid the monthly charge, though they may have other trade-offs.
BPI has offered no-maintaining-balance accounts at certain times, though availability and terms change. These accounts typically do not require a minimum balance and do not charge a maintenance fee, but they may offer lower interest rates or have restrictions on the number of withdrawals per month.
You can also waive the maintenance fee on a regular BPI Savings Account if you maintain a higher balance — usually ₱50,000 or more, though this varies. Some accounts waive the fee if you set up automatic monthly transfers or salary deposits. Ask your BPI branch what conditions apply to your specific account.
Interest rates and how balance affects them
BPI pays interest on savings account balances, but the rate depends on how much money you have in the account. Higher balances earn higher interest rates. The exact rates change over time and vary by account type.
If you are paying a ₱300 monthly maintenance fee because your balance is too low, you are almost certainly losing money — the interest you earn will not cover the fee. This is why it matters to either keep the minimum balance or switch to an account that does not charge a fee.
Check with your branch or BPI's website for the current interest rates on your account type. The rate is usually shown as an annual percentage, but interest is calculated and added to your account monthly or quarterly.
What happens if you cannot maintain the minimum
If you regularly fall below the minimum balance and do not want to pay the monthly fee, you have a few options. The simplest is to switch to a BPI account with a lower minimum or no minimum at all. BPI Express Savings Account is one choice, though it still has a ₱500 minimum.
Another option is to move your money to a different bank if you cannot meet BPI's requirements. Many Philippine banks offer savings accounts with no minimum balance and no maintenance fee, though they may offer lower interest rates or fewer branch locations.
If you want to keep your BPI account but avoid the fee, ask your branch whether you can set up an automatic transfer from another account to keep your balance above the minimum. Some customers do this with a small monthly transfer to cover the gap.
How to check your current balance and avoid fees
You can check your BPI savings account balance through several methods: the BPI mobile app, BPI Online (their website), an ATM, or by visiting a branch. Checking regularly helps you see whether you are at risk of falling below the minimum before the monthly cutoff.
Set a reminder on your phone or calendar for a few days before the end of the month. If your balance is close to the minimum, you can make a deposit or transfer money in from another account to stay above the limit and avoid the fee.
If you have already been charged a maintenance fee and believe it was an error, contact your branch or BPI customer service. Fees are sometimes reversed if you can show that your balance was actually above the minimum on the cutoff date, or if there was a system error.
Comparing BPI savings accounts side by side
| Account Type | Minimum Balance | Monthly Maintenance Fee | Best For |
|---|---|---|---|
| BPI Savings Account | ₱1,000 | ₱300 (if below minimum) | Regular savers with steady deposits |
| BPI Express Savings Account | ₱500 | ₱150 (if below minimum) | Customers with smaller balances |
| BPI No-Maintaining-Balance Account (when available) | None | None | Customers who want to avoid fees |
Frequently Asked Questions
What happens if my balance goes below ₱1,000 for just one day?
A single day below the minimum does not trigger a fee. BPI checks your balance on a specific cutoff date (usually the last day of the month). If your balance is above the minimum on that date, you will not be charged. You can dip below during the month without penalty as long as you recover before the cutoff.
Can I get the maintenance fee waived if I just opened my account?
Some banks waive fees for new accounts during an introductory period, but BPI's policy on this varies. Contact your branch when you open the account and ask whether any waiver applies. If you are charged a fee you believe should not have been charged, ask your branch to review it.
Does the maintenance fee apply if I have zero balance?
Yes. If your account balance is zero or below the minimum, you will be charged the monthly maintenance fee. The fee is deducted from your account, which can result in a negative balance. You should deposit money to bring your account back to positive as soon as possible.
Can I transfer money from another bank to meet the BPI minimum?
Yes. You can transfer money from another bank into your BPI account to keep your balance above the minimum. Transfers from other Philippine banks typically take one to two business days. Plan ahead if you are close to the cutoff date, because a delayed transfer could still result in a fee.
Is there a BPI savings account with no fees at all?
BPI has offered no-fee accounts at various times, but availability changes. Ask your branch whether they currently offer a savings account with no minimum balance and no maintenance fee. If not, you may want to compare options at other banks that specialize in low-fee or fee-free accounts.