BPI vs BDO vs Metrobank in the Philippines
94BDO, BPI and Metrobank
BDO, BPI and Metrobank are the biggest commercial and universal banks in the Philippines. Each one has its own strengths, so not one of the three, to my mind, can categorically claim that it's the most powerful bank in the country.
BPI, Metrobank and other banks, however, can't but agree that BDO has been the fastest-growing bank since BDO was acquired from its original owners by the biggest shopping mall operator in the country.
To ordinary people like me, however, the best banks are the ones that:
- offer various banking services for free or at low costs
- offer convenience to customers, such as a lot of branches, ATMs and longer banking hours
- offer safe investment opportunities
- give back to the community
- contribute to the stability of the country's banking system
Because not one bank offer all the services that we want, we usually have accounts in more than one bank. These banks offer a lot of services, including Internet banking, investment options and private and corporate banking, but we'll mention only part of those that interest us, or that are unique to one bank.
What We Like About BPI
- It has a lot of ATMs and branches, with 1,600 ATMs spread out all over the country.
- It's also the only one, to my knowledge, that directly accepts peso bills for deposit at several of its ATMs in Metro Manila without using an envelope and with the ATM deposit instantly credited.
- It offers a local credit card with a lower interest rate and lower-cost installment and loan features.
- The BPI Classic Card's Special Installment Plan and straight-charge features can be used to pay tuition fees directly to the cashiers of major schools from grade schools to universities. I paid my daughter's tuition fee at FEU last semester using this feature.
It gives back to the community:
*It holds the annual Search for 10 Outstanding Expat Pinoy Children.
*Its BPI Foundation runs:
- microfinance trainings in partnership with Ateneo de Manila University in major cities
- Show Me, Teach Me, SME Empowering Entrepreneurs
- BPI-DOST Science Awards
- BPI College Scholarship program
- Climate Change Project
What We Like About BDO
- Longer Banking Hours
- Open on Saturdays, Sundays and most holidays (for branches located in SM malls)
- Lots of branches and ATMs -- Has 1,372 ATMs and 716 branches as of June 2010
*The location of BDO branches in SM malls evidently helped speed up BDO's growth. Because a great number of Filipinos go to the mall often, they choose to open BDO accounts so they can bank and shop at the same time under the same roof. It's also very convenient for OFW families receiving remittances from abroad. Certainly, it's safer withdrawing money inside the safety of the mall, including exchanging dollars, pounds or yens.
It gives back to the community:
BDO Foundation runs:
- partnership with Gawad Kalinga
- SME entrepreneurship program
*BDO's majority owner, the SM Group, runs the SM College Scholarship program.
What We Like About Metrobank
- Offers a Zero-Fee credit card -- Its M Free Mastercard is Forever Free of annual fee. This is significant as most credit cards typically charge 1,400 pesos or more for annual membership.
- Over 1,200 ATMs nationwide, over 730 branches, and 42 foreign branches
It gives back to the community:
Metrobank Foundation runs the following:
- Search for Outstanding Teachers
- Metrobank Scholarship Program
- Outstanding Policement in Service
- Outstanding Philippines Soldiers
OFW Services
Almost two million Overseas Filipino Workers (OFW) are currently working worldwide as engineers, nurses, teachers, seamen, doctors, dentists, physical therapists, domestic helpers,welders, electricians, machine operators, etc. Since they remit large amounts of money to their families monthly, banks have crafted special services for them.
Aside from the usual bank to bank transfer or remittance service to bank transfer, these banks also have their proprietary accounts designed for OFW clients and their families:
BPI
- BPInoy Remittance
BDO
- BDO Remit
- Kabayan Savings
Metrobank
- Super Bilis Padala
- Metrobank World Cash Card
Recent International Awards Received by BPI, BDO and Metrobank
These three banks have received plenty of international and local awards. The following are just some of the awards:
BPI
- Best Bank in the Philippines 2009 from Global Finance
- Best Bank in the Philippines 2009 from Euromoney
- Best Bank in the Philippines 2009 from FinanceAsia
BDO
- Best Emerging Market Bank in the Philipines 2010 from Global Finance
- Best Bank in the Philippines 2010 from FinanceAsia
- Best Foreign Exchange Provider in the Philippines 2010 from Global Finance
Metrobank
- Best Bank in the Philippines 2010 from Euromoney
- Best Managed Company (Medium Cap) in the Philippines 2010 from AsiaMoney
- Best Domestic Bank in the Philippines 2010 from AsiaMoney
Facts That May Interest You
*** In the Philippines, there are 773 banks (branches not counted) as of June 2010:
- 11 private universal banks
- 7 private commercial banks
- 5 branches of foreign universal banks
- 9 branches of foreign commercial banks
- 3 subsidiaries of foreign commercial banks
- 3 government banks
- 74 thrift banks
- 620 rural banks
- 41 cooperative banks
... including branches, there are 8,685 banks in all, as of June 2010
*** Arguably, BPI was the first bank in the Philippines and in all Southeast Asia. It began as El Banco Espanol Filipino de Isabel 2 in 1851 as a Spanish-owned bank. In 1907, the bank became a Philippine institution, and in 1912, it became the Bank of Philippine Islands (BPI).
***Among the top stockholders of BPI as of December 2009 are the:
- Roman Catholic Archbishop of Manila
- Metrobank
- Mercury Group
***The Metrobank Foundation owns the:
- Manila Doctors Hospital along U.N.
- Manila Doctors College along Macapagal Ave.
Metrobank also owns 30-percent of Toyota Motor Philippines Corporation.
***Among the top stockholders of Metrobank as of June 2010 are:
- Federal Homes
- Home Development Mutual Fund
- Insular Life Assurance Co.
***Among the top stockholders of BDO as of September 2010 are:
- International Finance Corp. (U.S.)
- United Overseas Bank (Singaporean)
- Insular Life Assurance Co.
***We're just curious that in all the three banks' Lists of the Top 100 Stockholders, Non-Filipino Philippine Central Depository Nominee Corp. shareholders account for the biggest number of shares.
- For BPI, non-Filipino PCDNC shareholders ranked No. 1 as of December 2009.
- For Metrobank, non-Filipino PCDNC shareholders account for 28.55 percent of the total, and ranked No. 1 as of June 2010.
- For BDO, non-Filipino PCDNC shareholders account for 20.47 percent of the total, and third in ranking behind SM Investments and Filipino PCDNC shareholders.
This could mean though that Philippine banks are seen as strong and stable by foreign investors. Besides, PCDNC shareholders don't grant their voting rights to PCDNC.
*** Of course, many know that:
- BDO is controlled by Henry Sy's SM Group
- BPI is controlled by the Ayala Group
- and Metrobank is controlled by George Ty's group.
For Some Info about these banks, based on personal experiences, just head over to this article on these banks -- BPI BDO Metrobank.
Vote for Your Bank -- Just for Fun
1. Which is your primary bank?
See results without voting2. If none of the above, which of these is your primary bank?
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See results without votingInternet Banking for OFWs
- List of Banks in the Philippines
This list contains links to lists of: universal/commercial banks savings banks foreign banks bank accounts with low maintaining balances - Internet Banking for OFW Families in the Philippines
More and more OFW families in the Philippines are discovering the benefits of using Internet banking to send money from wherever outside the Philippines theyre working and to track the deposits, fees and...
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Thanks for your kind comments, Glemoh.
thanks this wil be useful for my proj research. :)
Informative hub rated up!
I never had a problem with BPI. I'm so happy I never needed to talk to any of their CSRs, that's how good they are. Also, one thing I like most about them is my depositors are waived of the interbranch fee. Definitely, big savings.
I also own a BDO account but I find them just as a convenience to receive money after usual banking hours/days. Or when I don't like to keep extra cash (avoiding temptation), I deposit leftovers from my shopping to the mall branch.
Thanks for sharing these infos.
Why is it so hard to find out which BPI branches have hours on Saturday?
Hi Frustrated, because, to my knowledge, there are no BPI branches that are open on Saturdays. The ones that are open on weekends and holidays are those outlets in malls, but their services are limited (balance transfers, credit-to-cash, account opening, peso deposits thru the ATM). Here are locations of ATMs with the 24/7 instant deposit capability:
Thanks, ace, for your comments. Yes, we can take advantage of the plus points of certain banks.
allied bank is the best bank... its the most underated bank in the phls.. it is owned wholly by the richest man in the country ( based on how many corpo this man have) THE KAPITAN HIMSELF "DR. LUCIO TAN"....
Thanks a lot, John, for commenting. If Allied Bank offers lower loan rates, charges lower banking fees and penalties, and treats consumers well, then Allied could be what you say as the best bank for consumers/borrowers even if it lags behind the 3 banks mentioned above in assets/capital/ROI and number of branches. Allied is being folded into PNB, right? If this is completed, then PNB can give the 3 banks above stiff competition, as PNB has the widest bank network outside the Philippines.
How come you know a lot about these banks?
thanks for this site to give some information..keep it up!
Retiring in pinas early this year.Thanks for the info.
Metrobank is the best for me. As an OFW, remittance service here in Shanghai, China is easy.
Hi Michael, this post is a result of research. It's not really hard for me, as I've been writing about banks since 2008. I would have enjoyed a banking business if I had the connections and finances in my younger days.
bpi is excellent!
Bpi is a big bank with lots of services. For a normal employee like me the differences between the three banks is minimal.. Just do comparison see which provides services that suit you best (you don't benifit from all the services they provide any way). I however did my homework and sure going to close my BPI and open a new account at nearest Metrobank. Why? Simply because they still dreaming of old good time and forgot to upgrade their system and services!
I'm always a big fan of BPI.
i have BDO and BPI but I like BPI more...
also check bpi's internet banking site, www.bpiexpressonline.com this site is simply the best, no other banks can compare. try also visiting bpi nowadays, you should see their BEAs (BPE Express Assist), they made queueing a lot easier and high tech. they also have these cash accept machines (cams) just like an atm that can validate your cash deposit real time. why don't you try them ...
nice article nera ...
I have tried inquiring the 3 banks, going inside one of their branches, and I saw what bank is really the best in terms of customer service, systematized banking experience, and most all accommodating employees, and that is no other than "BANK OF THE PHILIPPINE ISLANDS". It is where I open my first bank account and I really feel so secured and confident with BPI. If you let me rank the 3 banks with my inquiry experience with them, then it goes this way.
1. BPI
2. BDO
3. METROBANK
Duran, Emecita, Mina, Thom, thanks a lot for your comments.
Wow! Thom, Insidepi, Miles, Nick, Wel, You're all BPI fans! It's great to know you're satisfied with BPI. I'm also a BPI depositor, but I also have accounts with other banks, as they have certain types of accounts that I like.
Yes, one of the best I like about BPI is their cash deposit machines -- no need for envelopes and deposit is instantly credited. As far as I know, they're the only ones that have these machines in the Philippines. But I have to check again though -- the foreign-owned banks might have also these machines by now.
Their cash/prepaid cards though are not as good as BDO cash cards and UnionBank Eon Cybercards. The BPI Express ATM cash card has ATM fees and the BPI My ePrepaid Mastercard has balance limits and has no ATM withdrawal feature.
The BPI Classic Credit Card though is a winner for me because of its flexible loan features and it's a payment partner of FEU where my daughter studies. And yes, it's website is a winner. It's fast-loading. And BPI's restaurant promos are great. I'll stop for a while.
I go for BPI, it has alot of 24/7 channels like express phone via a csr or through ivr, mobile banking (via sms or internet) and online banking. you can manage your account anytime anywhere. it is actually the leading in banking technology. I have with metrobank also, i'm satisfied with them as well... I go for metrobank and bpi, apart for convenient they are also the most stable.
I have and I guess will always be a banker..have been employed with BPI, BDO and Metro now. Objectively though, I will go for BPI as the best employer.
I'll go for BPI! Aside from innovative banking technology, I've experienced the best customer service too, way back 2007 where I opened my 1st account at their Binondo Branch near Starbucks
it's good to know that bpi made the pioneering effort of offering the cash accept machines (cams). i bet their bea's will definitely be copied by other banks soon. their bank anywhere effort is also excellent, no interbranch transaction fees and offers other services that makes you feel at ease, having the feeling of being served by your mother branch.
BDO still the best in terms of convenience, long banking hours.easy enrollment to internet banking. friendly staff and very efficient customer service. Phone banking is very good. they have personalized handling for each type of client, even you are just a small client they will assist you properly, not unlike with BPI and Metro bank, Customer service are very poor. Try calling their hotline to compare which bank has the best Customer service.
bpi's customer service has changed alot since the merger with far east bank, this improvement has a lot to do i guess with the younger far east bankers being folded into bpi. i agree with you ch1126 though that maybe bdo's phone banking is a bit better than bpi's but never when it comes to internet banking.
GREAT is equal to BPI... ^.^
wait till you guys see BPI unveils the bank of the future by 2014, it will sure raise the bar of hi-technology banking services never before seen in the phils and in most first world countries, brace yourself as everything will be at your fingertips.
Bpi is the best! Bdo's customer servixe is the lousiest plus the ling line of minimum 1 hour waiting everyrime! And the high interbranch charges depending on the amount! Thieves!
i've heard that jimmy, i've heard about it ... let's wait and see ...
BPI is simply the best! No one comes close to it...
Kudos to BPI!
I like BPI coz you can bank anywhere at any branch. NO interbranch transaction. Nowadays, people are quite mobile. They don't stay in one place. SO even though you open your account in one branch, you can still transact with other branches (even if its provincial) without any extra charges unlike other banks. BPI Bank anywhere is the winner!!!
Go BPI.. coz BPI make it easy..
I think,i will try BPI.
Definitely BPI!
I wanna try BPI cos of the comments i hear my my friends n internet. and i experienced some system error with my current bank n it warns me .. altho im just a student n i dont have much lol. but ye! i wana go to BPI soon!
another thing, nowadays, with so many alternative channels to do your banking (internet, atm, phone, mobile etc.), time will come that we don't need the extended banking hours, before, we are used to banks closing at around 3pm, those clients who were always late then are still the same clients who are still late now even though banking hours were extended to 4:30 even up to 7:00pm. I hope BPI acquires UBP soon ...
Again, it's Wow! BPI has a lot of fans here! Nick, thanks for checking from time to time if there's something to respond too. I'm just sad I've no time yet to update the post... Two other things that BPI has that most others don't is a separate online bank -- BPI Direct Savings Bank -- and a microfinance bank -- BPI Globe Banko.
very informative..
I'm a BPI user.. for me, it's much flexible and innovative.;)
I love BPI. They have the most responsible and warmest tellers. :)
elo ms nera!!! just wanna ask if which of the 3 banks offers the BEST HOUSING LOAN???
i'm torn between bdo & bpi~~~
thanx much!!! appreciate the response... =)
I hate my bank metro bank for 10 years onward never even have a credit card in this bank. i try to apply for 3 times nothing happen, now im having BPI and BDO. i am also OFW using metro bank till now for remittances only i have no choice.
what bank give high interest rates on savings deposits and time deposits?
Hi Michael, thanks for commenting. Where are you working? I may have some info about remittance services in your place because I've been writing about remittance companies for over a year now.
BPI is the best!
..BPI??????i have a problem on my account because balance transfer from Saudi took a long time to process,, until now i didn't receive yet the remittance,, my remiter transfer last sunday,,it's already wednesday!!!customer service told me that it will be process within 2 banking days,, im so dis appointed
Hi Angel Cruz, thanks for commenting
Hi Angel with Saudi remittance: What's the remittance company? Sometimes it's with the remitter. BPI remittance partner ba? Hope the money is already in your account. Best regards
hi Ms.Nera,
until now, i didn't receive yet.. and it's holiday tomorrow, for sure it will appear by nextweek
Yes, Angel, you're right, if you don't get it today, you'd have it after the Holy Week. Best regards
BPI na lang or Metrobank.
Sila lang ang may UPUAN sa tatlo, di na kelangang luminya nang pagkatagal-tagal.
BDO laging mahabang pila. Marami ngang branch pero konti naman ng tao sa counter.
Hi Kahlil, thanks for your comment. I hope BDO sees the need to offer instant-credit cash deposit machines so cash depositors have options and so long lines are reduced. This is where BPI soars because it has these machines -- I can deposit anytime, even at night and during non-business days.
Long lines, depende rin sa branch -- and this is true for all banks. Metrobank has seats, but some branches have only 2 tellers serving, such as the branch along Alabang Zapote, opposite Caltex/Honda, and in Muntinlupa Putatan.
Hi ms. nera,,
I checked already on my account but still no remittance yet, my remitter already follow up..
Hi Angel, the same with mine, it's still not appearing on my BPI account. But it was sent on Good Friday in South Korea. Yours was sent earlier. I didn't ask which remittance service she used. Let's see tomorrow. The 5-day holiday really had an effect.
Hi, I was just wondering. With the insurance coverage at 500,000 per depositor, how can you spread your risk? How many banks do you deposit to? Thanks.
Hi Anne, you can spread out your deposits to the top banks. Looking at Philippine banking history, however, only the savings and rural banking sectors had suffered closures, more particularly the rural banking sector. BDO had survived even if it lost more than a hundred million dollars from Lehman's bankruptcy in 2008. Metrobank and RCBC also had investments in failed Lehman but they also survived and prospered.
We just have to be vigilant by constantly monitoring the economy and the banks.
Hi, untill now there is no incoming remittance on my account,,what will i do
Hi Angel, if you are expecting your remittance from saudi, best to send it via samba, bpi has a tie up with them, is this your first time receiving remittance thru bpi? remember bpi is the receiving bank and not the sending bank, sometimes the problem lies with the wrong details in your remittance i.e. wrong name,wrong account no. etc. all these details should be accurate otherwise the receiving bank can return this remittance if there will be no confirmation from your branch of account that remittance can push through. there are options to have it credited to your account or pick it up in branches with your reference no. in hand.
Hi,
no its not my first time to receive remittance from saudi,,coz other remitatance i receive is from taiwan,, and its just for 2 banking days,, my remitter transfer the account last April 1 and untill now there's no remittance in my account, my remitter already verify many times
Hi Angel, that's indeed too long for a remittance to get credited to your account, unless it's a wire transfer that goes through at least 2 banks, which usually takes that long. But if it's through a commonly used remittance firm, then there must be something wrong somewhere. But I hope it's just a once-in-a-long-time hassle or glitch somewhere -- nothing serious -- so that by tomorrow, the money is already in your account.
I read all the comments and I think BPI won in terms of customer service and stability and system. I'm just wondering which bank should I choose if I'm going to open a credit card account, one that has no annual fee, lower rates and has good freebies, regardless of the existing bank services. Which will you recommend me Nera?
BPI BDO Metrobank Allied
Thanks, by the way, I voted on your hub... this is really nice and informative!!!
I'll go for BPI. I can open a checking account by internet and just pick-up the checkbook on your nominated branch. Imagine the convenience. Also you can apply for a time deposit via internet banking, terminate it or roll over the interest whenever you want it. You can deposit on ATM. You can bank with minimal visit on their branches. I have a BDO account and interest rates are so low, but the convenience is you don't need to go to the branch to submit you phone number for buying your load.
Hi-tech ang BPI so great.na amaze talaga ako wala na silang deposit and withdrawal slip to fill up.touch screen sila.wow good job BPI.
Bank=BPI. Simple, Clear, Easy and Innovative
My sister's house tenant has asked me to deposit her rent to my sister's BDO bank account. At BDO-Robinsons, there were only three (3) bank tellers serving two long queues of bank clients. It took exactly three (3) hours to get this single transaction done!
To Takayuki Akihama and Maria Elisa B. Akihama, I have given you several days of exposure already. Blessings for you!
BDO of course,aside from friendly tellers, they always smile, greet and thanks for every banking transactions..In terms of remittance,mabilis at madaming branches at SM malls para mag-claim. Banking hours are very convenient, lalo na sa mga pumapasok sa office, also internet banking, mabilis at maaasahan. Thanks
I DISAGREE WITH YOU - MAJORITY OF BDO TELLERS ARE UNFRIENDLY
I LOVE BPI
BPI sure has lots of great comments here. Ask ko lang, hanggang anong oras ang banking hours ng BPI?
Hi... I have a question coz i'm dumb when it comes to banking stuff.... So your help will be much appreciated.. I work here in dubai and i want to open a savings acct.. I have 2 options here BDO and metrobank... which do you think is better? Coz i'll be going on vacation this july and i don't want to bring cash with me just to be safe and to avoid the temptation of spending it...which bank has the bigger exchange rate. Let's say 1 aed is = 11.7 pesos(i know it fluctuates) but will the rate of the day be the same when i withdraw money in the philippines? I'm sorry.. I just wanna be sure i'm doing the right thing here... Thanks a lot...
Do you have any alternative idea
regarding time deposit, or anything doubled my money for several months or even a year...
Hi! Maybe you could help us decide which bank is the best for my wife and I. I'm currently living in Belgium and would like to send some money to the Philippines. I already calculated that if I send money in dollars rather than in pesos, my wife would actually receive more. Cause I have to convert Euro to Dollar or Euro to Peso. That's why I want to open a dollar account.
I actually did some research already with those banks. And it seems that BDO offers a lower maintaining balance in dollars. The BPI is asking for $500 maintaining balance. And Metrobank is asking $0 maintaining balance that's what I read in the internet, but when my wife came to their office they said otherwise. I just don't get it.
Anyway, I hope you could help us! And thank you for sharing your knowledge :) God Bless...
I agree with one of the posters above. Allied Bank is one of the most underrated bank. I have a 'market revenue' account that earns me as much as 2.75% interest per annum on a 3-month maturity period. If I do,choose the 6-months or even 1-year maturity period (you may choose what maturity period suits you at the maturity date of the'preceding period) the interest rate may go as high as 2.95% or even 3.2%.
Glemoh101 16 months ago
Thanks for your useful information , i like Philippine.
I rated your hub , hope you do the same with me.