After receiving a deluge of complaints over “duplicate transactions and difficulty accessing online accounts,” the Bank of the Philippine Islands (BPI) has recently issued an official advisory on social media assuring its clients that their accounts are safe and secured.
In a Facebook message posted earlier today, BPI announced that there had been “double posting” of ATM, CAM deposits, POS and e-commerce debit transactions made from December 30 to 31, 2022, or the New Year’s eve shopping rush.
The advisory read: “Please be informed that we expect corrections of the duplicate transactions within the day. Rest assured that your account is safe and secure. Thank you.”
“Given the high volume of inquiries on our online banking channels, you may experience intermittent access to our web and mobile app platforms,” the BPI further stated in its post.
Unauthorized debit transactions due to ‘0431 Debit Memo‘
A number of BPI clients have since taken to social media to raise concerns after noticing “unauthorized debit transactions” on their accounts.
According to some of the posts, there were those who experienced double posting, or double deduction transactions from 0431 Debit Memo. A few others were reported to have lost as much as P40,000 or more in the process.
Afraid of losing more money, some account holders have started rushing to the nearest BPI branches and ATMs to withdraw money or transfer funds online to another bank or e-wallet.
What’s more, some BPI account holders even reported experiencing difficulty accessing the bank’s mobile application and its official website.
BPI said the reversal of erroneous transactions will be “automatic,” which means that there is no need for the affected clients to call the bank or file a complaint.
BPI tasked to submit timeline and updates to the BSP
The Bangko Sentral ng Pilipinas (BSP) is currently in close coordination with the Ayala Group’s BPI amid the double debit transaction incident.
It has since directed the bank to provide a timeline and updates on the issue, particularly on the reversal of its erroneous transactions.
“The bank has already identified the root cause of the operational error and committed to reverse the erroneous transactions and restore mobile and internet banking services the soonest possible time,” the BSP said in a separate press statement.
As of this writing, however, a company spokesman from the bank has yet to reply to queries on the actual cause of the glitch.