BDO credit card payment glitch charged dollars instead of pesos

by Ka Edong on August 22, 2008

BDO

BDO

There was a glitch in some credit card transactions using BPI (and Citibank, HSBC) credit cards on BDO credit card terminals between August 16-18.

The BDO credit card terminals debitted dollar amounts by mistake instead of the peso amount.

BDO and BPI were quick to make the correction.

Today, I received the email below describing the results of their quick recovery action.

From bpiexpresscredit@bpi.com.ph
date Fri, Aug 22, 2008 at 10:16 AM
subject IMPORTANT ANNOUNCEMENT: YOUR TRANSACTIONS DATED AUG 16 – 18, 2008

To all BPI Express Credit cardholders:

IMPORTANT ANNOUNCEMENT: YOUR TRANSACTIONS DATED AUG 16 – 18, 2008

This is to inform you that your peso transactions that were swiped on BDO credit card terminals from August 16 to 18, 2008 were erroneously transmitted by BDO to our office in US dollar currency. A purchase transaction of P1,000 swiped on a BDO terminal, for example, was posted on your card as a US$1,000 purchase (approximately P45,000). This was an error that affected all MasterCard cards (e.g. BPI, Citibank, HSBC) with transactions that were swiped on BDO terminals on the dates mentioned.

Note that corrections were posted on Aug 20, 2008 based on a reversal file sent by BDO. Additional adjustments were made on Aug 21, 2008 to further correct the difference brought about by foreign exchange rate movements.

I would venture to say that BDO (and BPI?) probably spent a significant amount to cover for the foreign exchange movements. This is to ensure that their customers had their balances restored to the correct value.

The announcement just brings awareness that big banks like BDO and BPI still do have small windows of error.

We all have errors.

What’s important is taking responsibility for it, and taking corrective action as early as possible to reduce any negative impacts.

And to learn the lesson so that the mistake does not recur in the future.

ka edong

Comments

  • http://bubblehearth.blogspot.com esti

    haha! na receive ko rin ‘to. akala ko spam nung una kasi hindi sya from expressonline@bpi.com

  • tetel

    I just had a terrible experience with my BDO Credit Card this week. I was declined of my transaction which only cost about a thousand pesos. When I tried to check with the bank yesterday, I found out that I had a floating transaction of about 13,000.00. Where on earth did I made such huge amount of transaction? The CSR explained to me the glitch but needless to say, I already had my share of embarrassing moment at the store when my card was declined.

  • tetet

    i had a terrible experience too, as i received my credit card by mail and i was told that the card is already active..i used it and it was not honored i called the bank and they told me i have to activate it first before using..it was one of the most embarassing part of mylife as i already paid a downpayment and everything..now i have to wait for 3 more days to purchase that item..

  • Dr. Edward

    Ain’t really satisfied with their services.
    I hope the BDO will improve their services in order their customer will be satisfied.

    Beware of BDO credit card.
    Ain’t satisfied with their services because of the following reasons:
    1.) There were a lot of errors in their billing of statement.
    2.) There billing of statement is late thus you have no enough time to prepare for your payment. Basically you are prone to charges for late payment.
    3.) There is no specific date in the “Payment Due Date”.
    3.) You can’t contact their telephone numbers using globe telephone.
    4.) They have no e-mail address in their website.

    I hope the BDO will improve its services in order their customer will be satisfied. Thanks.

  • Dr. Edward

    Beware of BDO credit card.
    Ain’t satisfied with their services because of the following reasons:
    1.) There were a lot of errors in their billing of statement.
    2.) There billing of statement is late thus you have no enough time to prepare for your payment. Basically you are prone to charges for late payment.
    3.) There is no specific date in the “Payment Due Date”.
    3.) You can’t contact their telephone numbers using globe telephone.
    4.) They have no e-mail address in their website.

    I hope the BDO will improve its services in order their customer will be satisfied. Thanks.

  • roy

    my experience was not nice with bdo. i made a payment through the sm payment center but was not posted. i had to make a call via the hotline number for them to know that i had made the payment. they insturcted me to fax the receipt as proof (my burden, instead of them looking for that). then after 11days, the payment was posted only to find out that i was charged of the late payment and over-the-limit purchases because of late posting.

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