The BPI or the Bank of the Philippine Islands informed their clients to make an update on their account information until the end of the month, they will be facing the possibilities of losing the access of their accounts through mobile, online and 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.
According to BPI, customers have to fill out and sign the CIS and the Foreign Account Tax Compliance Act (FATCA) Form, both available at the bank’s official website. They must then present the original copy and a photocopy of one valid, recent, and photo-bearing ID.
“Submit these documents to any branch nearest you. You may also send original filled out and signed forms via courier or mail to your branch of account,” it said.
The lender said this is in connection to the Bangko Sentral ng Pilipinas Circular 706 which required financial institutions to regularly update its customer information records.