By Liza Soriano
MANILA — Senator Win Gatchalian urged the Bank of the Philippine Islands (BPI) to act with haste on behalf of hundreds of its clients who allegedly suffered “alarming incidents” in their accounts due to a system glitch as claimed by the bank.
The senator said that the system glitch was “alarming” as it erodes the confidence of customers in the country’s banking system in general and thus impacts the government’s goal of enhancing financial inclusion amid an ongoing trend for the use of digital space in undertaking financial transactions.
“I call on the BPI management to work on the immediate restoration of its clients’ actual and correct account balances and ensure that complaints are timely handled and redressed,” he said.
“Banking institutions need to ensure the safety and security of their customers’ hard-earned money to encourage more people to join and participate in the formal financial sector, which is an important component in supporting sustained economic growth,” Gatchalian added.
Earlier, BPI clients complained about duplicated transactions and unauthorized withdrawals.
BPI assured that its customers’ accounts are safe and secured.