A bank of the Philippine Islands (BPI) debit card allows you to withdraw money from your checking account and use it at any partner merchants. Instead of writing checks, you can swipe your debit card at the point-of-sale (POS) terminal, and the funds will be deducted from your account.
Features
The BPI debit card is related by Bangko Sentral ng Pilipinas and you can access some or all of these features in real time, which makes it easy for e-commerce access.
BPI Debit Mastercard contactless
The BPI Debit Mastercard enables you to make purchases at contactless terminals without swiping it. You can, however, only use your debit card for purchases under ₱5,000.
BPI card control
The BPI card control feature allows you to monitor your transactions from everywhere. You can check the status of all your transactions, where they took place, and when they were made using the BPI Debit Mastercard features in real-time.
You can change the daily ATM withdrawal limit with BPI card control. You can also change your daily maximum purchase limit by logging in via BPI Online and mobile app. The default daily withdrawal amount for BPI Debit Mastercard and BPI Debit EMV Cirrus Red is ₱20,000, while for BPI Debit EMV Cirrus Gold, it is ₱50,000.
You can also enable or disable your card's ability to make purchases at POS and ATM terminals in other countries and control your purchase limit. You can also temporarily or permanently block your debit card for security reasons. To enable this, select either Temporary or Permanent lost card blocking.
Account linking
Using your debit Mastercard, you can connect all of your bank accounts if you have more than one. You can then access multiple accounts while making purchases using one debit card. The next step is to select your primary deposit account, which you can access and use in both BPI and non-BPI ATMs worldwide.
Your main account is listed on your BPI Debit Mastercard. Remember that when you link your accounts, you can access only the ones connected with your card. To withdraw, go to any BPI ATM andenter your six-digit PIN. After clicking on Enter Withdrawal Amount, input the sum you wish to withdraw. Choose the account you want to withdraw funds from and collect your cash.
Pros and cons
Debit cards make it easy to get money from your checking account. You can use any of the three BPI cards and track your transactions in real-time from anywhere in the world. However, you should check the fees and limits associated with these debit cards to ensure they are appropriate for your needs. There are also drawbacks associated with using these cards that you must consider before deciding to apply for one.
Pros
The card can be used at ATMs to withdraw cash, eliminating the need to carry cash or checks when you are making purchases.
The card usually has daily purchase limits, which means that making a huge purchase with a debit card may not be possible.
The card purchases can be made without a personal identification number (PIN) when you use the contactless feature.
Cons
You can only spend what is in your checking account, and the sum you spend varies daily along with the balance in your account.
You may be charged an ATM transaction fee if you use your card to withdraw cash from an ATM that's not affiliated with the bank that issued your card.
You are restricted to ₱5,000 when using the contactless payment method, and when using other payment methods, you are bound to the spending limit you've set for your particular card.
How to apply a debit card?
Debit card applications are only accepted at any BPI branch, where you will be given a form to complete when you arrive. Among the details that you should enter correctly are your account number, birth date, and email address. Before signing the forms and delivering the finished documents to a BPI banking agent, carefully read the terms and conditions.
