February 08, 2013

How to Open BPI Time Deposit Online

Today, almost nothing is impossible with the help of technology. If you have no time to go to the bank, you can still open time deposit anytime, via online. You can save time, money and effort. The only difference is you won’t have paper certificates but you can receive notification on your maturing date via email.

Would you believe that as low as P1000, you can open time deposit online? In addition it is so easy to open time deposit online, just follow the directions.

1. Go to https://www.bpiexpressonline.com/ then you will see a drop down menu and select a form you want to apply. “BPI Direct Time Deposit”. Then you will see this page.
2. Choose interest payment options:

Payout principal and interest upon maturity.
Payout interest and roll-over principal upon maturity.
Roll-over both principal and interest upon maturity.

3.Check the terms and conditions box.
4. You will see the pop-up box and click ok.
5.You will be directed to this page. Enter your username and password.
6. Enter the amount. Choose among the available terms: 35, 62, or 91 days. Roll-over your placement automatically at the current market rate.*
7.You will see the pop-up box and click ok.
8.That’s it!

You will receive email notification, “BPI Direct Time Deposit Account Activation”. When I received the email, I immediately check my online account and I saw this

"Principal amount and maturity amount is P0.00" so I immediately email BPI. The following day there was no email but the amount was reflected already. Then after a week, I received an email asking for my concern. Hmmm, BPI need to improve on this service.

Note:  Available only to clients who have individual BPI, BPI Family Savings Bank or BPI Direct peso savings or checking accounts enrolled in BPI Express Online. Time Deposit placements will renew automatically at maturity unless they receive a written notice from you on your intention not to renew. Source

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