Press Releases

Statement on recent incidents of incorrect debiting of mobile bank accounts under BPI

January 5th, 2023

Rep. Joey Sarte Salceda

04 January 2023

The recent incident of double debiting and incorrect entry of balance details in BPI mobile banking accounts shows how prone to widespread glitches our financial cyberspace remains. As Vice Chair of the House Committee on Banks and Financial Intermediaries, I will be watching out for any speedbumps that BPI and the regulators may encounter in resolving this issue WITHIN THE DAY.

In the meantime, these are the minimums we expect:

One, if any depositor loses money due to this glitch, they should be promptly reimbursed or compensated WITHOUT being made to sign waivers or quitclaims;

Two, a resolution of this issue within the day should not preclude the Bangko Sentral ng Pilipinas from investigating the causes or potential weakness of the specific bank or the banking system as a whole;

Three, the Bank should take concrete steps to ensure that this never happens again; and 

Four, the House Committee on Banks and Financial Intermediaries expects a report from the Bangko Sentral on this matter.

Thank you.

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