About the bank
Banco de Oro (BDO) is a Filipino commercial bank that was established on August 16, 1967, and has its corporate headquarters in Makati, Philippines.
BDO Unibank, the largest bank in the Philippines by assets, is a division of SM Investments, the largest conglomerate in the nation by market value. In addition to business and retail banking, treasury, trust, credit cards, corporate cash management, and remittances, BDO is a full-service, universal bank that provides a wide range of services. It also provides leasing, investment banking, private banking, bancassurance, insurance brokerage, and stock brokerage services through its subsidiaries.
BDO Unibank runs more than 2,400 ATMs and more than 850 branches. In addition, they maintain a branch in Hong Kong and 15 abroad representative and remittance offices spread around the Middle East, Europe, Asia, and North America.
Features
BDO Unibank, Inc. provides commercial banking services. Commercial banking, investment banking, private banking, leasing and financing, insurance, and other areas make up how it operates. The loan segment, trade finance, and cash management process is managed by the commercial banking division for corporate and retail clients.
Beyond the conventional loan and deposit products, the investment banking division provides services to corporate clients. High-net-worth individuals and institutional clients receive classic and non-traditional investment and structured products from the private banking division. Direct leases, sale and leaseback agreements, and real estate leases are all part of the leasing and financing market.
By offering protection, education, savings, retirement, and estate planning solutions to individual and corporate clients through life insurance products and services, the insurance section encompasses insurance brokerage and life insurance operations. The Others division focuses on accounting service, credit card service, remittance, asset management, real estate management, and computer service.
Pros and cons
Since BDO has been operating in the Philippines for a while, it has established a reputation as one of the country's most reliable and stable financial organizations. However, consider these benefits and drawbacks before using the bank's products and services.
Pros
- Longer banking hours. The majority of banks in the Philippines are open on weekdays exclusively. For its branches inside SM malls, BDO does, however, continue to operate even on Saturdays. They are available till 4:00 p.m.
- ATMs and numerous branches. The number of branches and ATMs operated by BDO is above 5,400. In-branch cash acceptors totaling over 400 are also available.
- Convenient banking. In addition to having numerous offices across the nation, BDO offers BDO online, which enables customers to complete transactions online whenever they want.
- Diversity of savings accounts. BDO provides a variety of savings accounts. Even Junior Savers are available, which require a deposit of ₱100 to open. Initial deposits at BDO might range from ₱100 to ₱50,000 and interest rates ranging from 0% to 1.25%.
Cons
- Limited accessibility. Customers who want to utilize some of BDO's online services comfortably must have Internet access, which can be an issue if they don't have the right connection to complete their transactions.
- App issues. The app frequently freezes or becomes sluggish. OTP not working or not being sent to the registered cellphone numbers is another issue that has been reported.
- Inconsistencies in customer service. Some customers have said that the customer service might be better. There are occasions when calling BDO's customer care line can be challenging.
Products and services
BDO is a full-service universal bank that offers a broad range of market-leading products and services to consumers and businesses alike. These include lending (corporate, middle market, SME, and consumer), deposit-taking, foreign exchange, brokerage, trust and investments, credit cards, corporate cash management, and remittances. The bank provides services in leasing and financing, private banking, investment banking, bancassurance, insurance brokerage, and stock brokerage through its subsidiaries.
