BPI releases bank cut-off schedules during ECQ period
BPI releases bank cut-off schedules during ECQ period
Even if we’re at home with seemingly more time on our hands, time is still of the essence these days, especially when completing daily tasks and transactions, given the strict curfews and lockdown protocols in various areas all over the country.
To respond to the needs of its customers—while complying with ECQ guidelines—the Bank of the Philippine Islands (BPI) is implementing early cut-off schedules for certain services, as it remains committed to serving clients while ensuring the safety and well-being of its people.
The early cut-off time apply to the following services:
1. A ll clear? Know if your checks are still up for clearing. For most BPI branches, they now follow the 11AM cut-off time. As forforeign currency check deposits, this service is still temporarily unavailable due to bank operation limitations in other countries.
2. If you’re sending money to your loved ones, it’s better be on time than sorry. For remittances, take note of the new time for transferring money:
Real-time Gross Settlement or Interbank PHP to PHP Transfers: 12:00NN
Gross Settlement Real-Time or Interbank USD to USD Transfer and for Philippine Domestic Dollar Transfer System or End of day settlement: 11:00AM
Outward Non-Trade: 3:00PM
PESONetor transfers worth P50K and above to non-BPI accounts: 12:00NN
3. Can’t travel?Let your money do it for you with BPI’s Global Market transactions. These include buy-and-sell transactions of currencies (Forex), buy-and-sell transactions of ROPs and corporate bonds (FX Bonds), and conversion of US Dollars to Pesos for ATM-based accounts via BPI Online (Online Forex). All are still available but with updated cut-off time:
Forex (For Retail Clients): 9:00AM to 2:30PM (PST)
This includes servicing the following currencies: US Dollar (USD), Euro (EUR), Hong Kong Dollar (HKD), Australian Dollar (AUD), British Pounds (GBP), Japanese Yen (JPY), Singapore Dollar (SGD), Canadian Dollar (CAD), Swiss Franc (CHF), and Chinese Yuan (CNY).
FX Bonds: 9:00AM to 12:00PM (PST)
Online Forex: 9:30AM to 5:30PM (PST), Mondays to Fridays, except holidays and weekends.
4. For those who are still actively trading on the stock market, the trading hours for BPI Trade are from 9:30AM to 1:00PM
5. Still got a lot of special banking transactions on your plate? Consider these cut-off times for accomplishing these transaction services:
Corporate Cash Deposit Machine
1st cut-off: 10:00AM
2nd cut-off: 2:00PM
Trade and Supply Chain
Letters of Credit
Letter of Credit / Standby LC Issuance and Amendment: 10:00AM
Bank Guaranty / Endorsement: 12:00PM
Negotiation and Settlement: 12:00PM
Non-Letters of Credit
Advance Payment / Direct Remittance: 12:00NN
Open Account / Document Against Acceptance Booking: 12:00NN
Open Account / Documents Against Acceptance / Documents Against Payment Settlement: 12:00NN
Trust Receipt
Trust Receipt Booking/Import Bills Payment – 12:00NN
Trust Receipt Settlement – 12:00NN
Exports – Inward Remittance (CPO): 2:00PM
Exports – Nego: 11:00AM
Exports – Payments: 12:00NN
Final Duties: 3:00PM
Supply Chain (Receivable Finance/Supplier Finance): 12:00NN
BizLink in the new normal? We got you covered:
Pay Non-BPI: 8:00AM to 12:00NN
Pay Foreign: 8:00AM to 12:00NN
While cut-off schedules may still vary depending on the branch location and changing ECQ guidelines, BPI assures its clients that the bank remains committed despite the widespread lockdown due to the COVID-19 pandemic.
For more details and bank schedule updates, you may visit bpi.com.ph.
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