Bank of the Philippine Islands client becomes ‘instant billionaire’

BPI client becomes ‘instant billionaire’

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BPI client becomes ‘instant billionaire’

Thursday, June 08, 2017

BACOLOD. Some clients who trooped to the BPI-Bacolod Main Branch on Araneta Street Wednesday to transact over-the-counter after electronic channels, including ATMs, in all branches of the bank were suspended due to technical glitch. (Erwin P. Nicavera)

A LOWLY depositor of Bank of Philippine Islands (BPI) became an “instant billionaire” as a result of the technical glitch that hit the bank, a source of SunStar Bacolod, who requested anonymity, said Wednesday, June 7.

The source said the depositor originally had a deposit of P782.83 then P11,400.03.

When the depositor last checked her balance on June 7, she found out that a total of P12,435,323,567.04 has been supposedly credited to her account.

The SunStar source is a Negrense whose relative is a co-worker of the depositor.

Cristina Sy, BPI vice president and area business director for Negros, furnished SunStar Bacolod with the official statement of BPI on the said “technical glitch.”

The BPI reported an “internal system error” on Wednesday morning, June 7, that led to discrepancies in its clients' bank account balances.

In its updated advisory posted on Facebook, BPI said the glitch caused some transactions occurring between April 27 and May 2 to be double-posted as of June 6.

BPI added that they have identified the root cause of the error, and are temporarily suspending access to electronic channels to speed up rectification.

“We anticipate full resolution of this error within today. We wish to reassure our clients that this matter will be resolved expediently and that none of them will lose money from this incident,” it further said.

Published in the SunStar Bacolod newspaper on June 08, 2017.

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