BPI reports 'internal system error'

MANILA (Updated) -- The Bank of the Philippine Islands (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.



BPI assured its clients to resolve the matter within the day.

"We wish to assure all clients that the integrity of their transactions and account balances will be maintained, and that none of them will lose money from this incident. Please accept our gratitude for your patience, and our apologies for any inconvenience you may have experienced." BPI said in a statement.

With total assets of P1.45 billion as of end-2016, BPI is the third biggest universal bank in the country after BDO Unibank and Metropolitan Bank. The bank has a network of over 800 branches in the Philippines, Hong Kong and Europe, and close to 3,000 ATMs and CDMs (cash deposit machines). (Franz Correa/SunStar Philippines)

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