drbubb Posted June 7, 2017 Report Share Posted June 7, 2017 Are PH banks safe? (Top rating is BBB-) (there is a scare today about BPI - often regarded as one of the safest PH banks) BPI probing reports of unauthorized withdrawals in accounts CNN Philippines-4 hours ago Metro Manila (CNN Philippines, June 7) — — The Bank of the Philippines Islands (BPI) is investigating reports of unauthorized withdrawals in accounts. BPI Strategic Brand and Communication Management Head Tricia Camarillo-Quiambao told CNN Philippines on June 7 that the bank is working on restoring the correct amounts to affected accounts. She also said the bank is still checking how many clients are affected and which types of accounts they hold. In a statement on Wednesday, BPI said: "Due to an internal data processing error, some clients may have seen their accounts debited twice or credited twice for a past transaction," the bank said. "We are currently correcting the mispostings. We apologize for the inconvenience that this may have caused," it added. In a second statement on Wednesday, BPI said the error caused some transactions between April 27 and May 2 to be double-posted as of June 6. The bank added it has identified the cause of the error and will temporarily suspend access to online banking channels. "All BPI branches will open on time this morning, and will continue to service your needs," BPI said. "We anticipate full resolution of this error within today. We wish to reassure our clients that this matter will be resolved expediently, and that none of them will lose money from this incident. Meanwhile, Bangko Sentral ng Pilipinas Deputy Governor Nestor Espenilla dismissed rumors that BPI's system was hacked. > http://cnnphilippines.com/news/2017/06/07/bpi-report-unauthorized-withdrawal.html I am inclined to NOT worry: + I would expect the Bank to cover any losses + That is what should happen, when it is their mistake. Else, no one would keep money there. Link to comment Share on other sites More sharing options...
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