BPI to convert Kaya Savings to Regular Savings account on January 15

BPI has announced to convert the Kaya Savings account to a Regular Saving account effective January 15, 2021.

Kaya Savings is a savings account with no maintaining balance and has a minimal fee for withdrawals.

With the transition, it will now have a required initial deposit of PHP 3,000. It will also have a required minimum monthly ADB of PHP 3,000 and a required daily balance of PHP 5,000 to earn interest.

Other changes include no fees for a client-initiated transaction (which formerly costs PHP 5 per transaction) and PHP 300 Monthly Service Charge if required ADB falls below the minimum. There will also be a Monthly Dormancy Charge if the account holder fails to maintain the required minimum balance. Previously, Kaya Savings Account holders will be charged PHP 30 starting on the fifth year if the balance goes below PHP 200. Now, the charge remains the same, but the balance must not be below PHP 3,000.

Meanwhile, these product features will be maintained upon conversion of the Kaya Savings account to a Regular Savings Account:

Interest-earnings on savings
Access through BancNet ATMs nationwide and in MasterCard ATMs globally through a BPI Debit MasterCard
Cashless shopping using BPI Debit MasterCard in BancNet or MasterCard-accepting merchants
Funds transfer via QR and/or enrollment of the account
Bill payments to over 600 merchants by enrolling in the bills payment facility
Instant reload of cell phones and prepaid cards via BPI’s online and mobile banking channels

Do note that there will be no new card to be issued upon conversion, and the existing card remains valid and effective.

Source: BPI

9 Comments

emmanuel sitjar samson says:

3 years ago

i open kaya savings cause i can not afford to have a maintaining balance. Now suddenly you converted it to a regular saving without informing your customers and deduct the P300.00 on my account.
- Reply
Mari-Fe Navarro says:

3 years ago

BPI why did you not send me any notification about this transition? my email and phone number is up to date..only notifying me of getting loans and promos but why not notify me about this one. im using my kaya account for accepting payment transactions and since i didnt know about this covertion i was surprised that you deducted 3 months of that service charge wiyhout my knowing. That is STEALING MONEY from your customers..you must be ashamed of that wrong doing.
- Reply
Aga says:

3 years ago

Charging service fee without notice. I almost run out of balance because of this. You should be ashamed of stealing money from your customers.
- Reply
Edz says:

4 years ago

Ibalik nyo nah yung zero maintaining sa Kaya Savings,,Kaya nga ito ang inopen namin dahil hindi nmin kaya yung 3000 maintaining Balance eh,,tpos babawasan nyo p yung iniipon namin dun khit paunti unti…
- Reply

Gerald Velarde says:

4 years ago

How can you do this to your customers especially to a student who had 1,100 pesos before the pandemic and now you’ll gonna take all of his hard earned money by saving through his allowances until it dries? Where are your conscience?

Nelsa says:

4 years ago

What if our kaya card we did not put a savings account today of 3,000 pesos can we used the card now
- Reply
Geny says:

4 years ago

We opened a kaya account because we cannot afford the maintaining balance of 3,000. And now you are converting kay’a savings to a regular savings that will compell us to have a 3,000 maintaining balance. What a crap.
- Reply
Joseph says:

4 years ago

If this is the initial deposit of BPI, then do not open an account with this selfish BANK OF PHILIPPINE ISLAND.
- Reply
Peter says:

4 years ago

Pls Do Not BankbTi BPI
- Reply