Banco de Oro Closing Bank Accounts Without Prior Notice!

January 20, 2011 | By | 22 Replies More

Reading time: 4 – 7 minutes

I always thought that banking is the safest way to keep your money and manage your finances but when that trust is tarnished by faulty customer retention system, you simply have no one else to depend and rely on.

Online banking transactions had been part of my living since I started engaging online by developing websites and accepting advertisers on this site so my finances are entrusted to banks that should hold greater responsibility and retain my business should they incorporate professionalism and sincerity in their corporate philosophy but it seems it’s all gone in today’s evidently flawed Philippine banking system.

Paypal is the primary payment method I use to accept payments from clients and most Filipino online workers adapt the system as well. Withdrawing Paypal funds directly to bank accounts are often used aside from credit cards. Unionbank’s EON does it with their e-banking service, other banks does it as well simply by using Paypal bank codes connected to a Paypal account. It takes days and bank charges are applied to the expected amount on the card prior to withdrawal on any Visa or Mastercard ATM machine.

I usually withdraw my Paypal funds to my EON account but since last year, for four consecutive weeks, money from my Paypal account took weeks to arrive to my bank account so I decided to use my other bank account, the one with BDO (Banco de Oro).

The transaction happened last Wednesday of this week so I’m expecting that the funds should arrive on my BDO bank account by Friday at least so I called the bank to check since the online banking access is advising “unsuccessful transaction” when I checked.

BDO thumbs downI called BDO Call Center Hotline, the lady told me that my account has been closed. I was stunned. Alright, I know that my account fell-off the required maintaining balance because of the many expenses last holiday season but my question is…why am I not informed prior? Shouldn’t I have the right to be informed that my account is closing before they even tried closing it?

The lady at the call center gave me the branch phone number where I opened my account and nobody’s answering the damn phone. It pushed me to find another way to reach them so I checked their website for the branch’s phone number. The lady at the call center have no way to callout which is effin stupid! How can the bank’s call center agent cannot even callout and connect to the local branch office when I’m on my mobile phone and the bill’s rolling?!

Helpless that I am, I gave the branch office a call. I have to dial twice just to speak with a person. It’s like nobody cares to answer the damn phone. That’s what you call great phone etiquette, as if I wasn’t calling a bank where phonelines should be answered by the second time it rings!

Here I go with a banking personnel, told me the account was closed. No prior notice, not even an email, an SMS, phone call, nada, null. I was wandering how hard it is to send an email nowadays especially from banks! I guess they only send emails for promotional purposes and upselling but in cases like these, it came to my mind that they were saying, “Who cares if a customer leaves? There are new ones coming-in everyday anyway?!”

The lady bank personnel told me that my account has been closed since January 1, 2011. She even asked if this was advised prior to my opening an account. I wasn’t told about it and if I do, I may have forgotten it because I was busy making money so I can make a deposit to their f***ng bank but it’s not an excuse for something that I should know as my right being a customer!

What a way to welcome your customers these New Year, huh BDO?! She said it was automated, meaning the bank’s system had it closed. Fine! I got that, but there should be a system where an auto-generated email is sent when an account is set to close?

I’ve put up a web hosting service back in 2010 so I know that somehow there’s a way to do that. Billing systems for ecommerce sites do that. Power, Telecoms, ISPs, cable TVs do that! How can that be so hard? It should have been programmed. Come on! This is 2011 and this bank still don’t get it!

Now, I’m stuck. I’m not sure when the bank will reverse the Paypal transaction so the fund goes back to my Paypal account. I’m helpless and all that’s left in me is hope that it will despite reading countless horrible experiences online with Paypal to Banco de Oro withdrawal transactions.

Maybe it was my fault that I did not check my bank account prior to withdrawing my Paypal funds but what I was trying to point out here is that, I should have been informed by the bank that my savings account is closing in and I should do something prior to January 1, 2011.

Haven’t they thought of retaining my business? All I can say is, OMG! Banco de Oro sucks like hell!

To you my dear reader, you be the judge. And to other banks out there, please, try to learn something from this and correct the bad practice.

Ever get screwed by your bank? Share your stories.

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Category: public service

Comments (22)

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  1. Gail Gardner says:

    Your frustration with this situation comes through loud and clear. Banks aren’t very concerned with whether we are happy about their service. I know of none who are more concerned about keeping their customers happy than they are with their own internal policies and maximizing profits. There really isn’t much we can do about it – unless we start our own banks or find another way to exchange work.

  2. Mathdelane says:

    I agree Gail, however, I would still want to use this medium to serve as a guide for people who still don’t know and prospective ones. You can’t discount the power of blogs and ranked sites like this in spreading information across the globe. Prospective investors or clients who may come across this post will take caution as well as those who were currently investing/saving in these kinds of financial institutions. It may not directly create an impact to the big fish but may hinder them from having more victims.

  3. maye says:

    hi mathdelane.. i have a closely-related case that bothers me now. i am working online, home-based. then my employer sent me my very first salary through xoom and i provided my BDO account. I went to the nearest branch and tried to check my atm balance.. I was so clueless why after a week it is still flashing the “unsuccessful transaction” on the screen! Then I had the guts to approach a bank personnel, much likely looks like a saleslady. Then I asked why I can’t even check my balance! She told me that my account was closed when she checked it. so… what happened with my salary now? how can i retrieve it?! gosh!

  4. Mathdelane says:

    Hi Maye,
    That’s a difficult case you’re on. I’m not sure with how Xoom works. When BDO closed my account, they put back the money in Paypal minus the charges of I think 5 dollars. I even talked to the manager of BDO during that time. It’s true, the money bounced back to Paypal since the account was closed. If Xoom works like Paypal, then you should be getting your money back minus the charges thou. Let me know what comes up. Goodluck.

  5. BDO "We find Ways" says:

    tama ka dyan Mathdelane. Grabe. Halos lahat bago mag putol ng serbisyo may notice at may ilang araw pa para ma settle yung account. How come ang BDO walang short notice, may email naman.. di ba? grabe one time bigtime ganun ganun n lng talaga. I was so dissapointed, ang nangyari sakin kase, na short ako tlga. so na-withdraw ko yung remaining money which is yung maintaining balance ko na 2K, that was September 23rd kase emergency tlaga. Then i tried to check online kc sahod namin today – October 5, and di lumalabas yung balance ko or kung may pumasok na na pera sa account ko (i’m working homebased din). Then tumawag ako sa 631-8000 – simple lang sagot… system generated daw kase, ok got it. nung nagtanong n ko kung bakit alang notice, tahimik si CSR at check daw nya account tapos – nag zero daw kc yung balance ko, kaya nag close daw – so tinanong ko ulet yung kaisa isang tanong ko.. “bakit di man lang ako sinabihan na mako-close na account ko agad” ang sagot kc daw nag zero… natawa na lang ako…

    biriun mo, ilang araw lang pagitan. tsk tsk tsk. “We find Ways…” nice one BDO. so back to BPI ulet. convinient lng pala dito is yung madaming branches na malapit sayo and open sa mall pag weekend.. maliban dun, ala na. KAKA-BADTRIP TALAGA OO. So pano kung emergency tlaga, di mo pwede galawin maintaining balance mo? sana yan masagot n nila…

  6. Hi there. I had the same problem. I transferred money from paypal then I just found out that my bdo account was closed. it should completed under paypal. I am wonder, how long did it take for paypal to return your money? weeks?

  7. Mathdelane says:

    As far as I can remember, it took me about a week to get it. It was credited back to paypal minus the $5 processing fee from BDO.

  8. Kat says:

    This is so true. I use the BDO Online Banking to pay all of my bills and make online purchases through Paypal. Apparently, my balance went below their minimum for a while (a result of my avoiding of their long lines for depositing money) and they closed my account without warning.

    I called my branch to ask them to reopen it, and they were most unhelpful. They did not even attempt to find a solution. Every time I’ve ever had a problem with this bank, they’d “find ways” to drive me away. It is the most disgusting display of (lack of) customer service.

    Another thing that bothers me is their depositing policy. I opened an account in Manila when I first started working and moved to Cebu a few years later. Upon depositing money in Cebu, I was asked to pay 100 pesos for their “regional fee.” I thought this was ridiculous. It’s my money, my account, and the same bank. Why would they need to charge me?

    Personally, I think BDO is the worst bank to go to in terms of customer service. They could not care less about their customers. All they want is money, money, money. Who cares who they have to screw over to get it, right?


  9. char says:

    experienced the same i just found out this morning that they have closed my account without prior notice. nakakaasar lang wala man lang silang pasabi.

  10. ver says:

    ganon din experience ko… last january 31 nag fall below maintaining balance yong savings account ko and just today (feb 2) magdeposit na sana ang staff ko from my branch to that account and sad to say closed account na daw… ang natira kasi noong jan 31 is P247 kasi nag transfer ako fund sa main checking account ko… P300 napala ang charge nila kaya ng nag charge ang bdo nag negative account ko kaya auto close… the sad part is hindi nadaw pwede ma re-open kahit depositohan ko and maka open ako new account after 6 months padaw… considering everyday may transactions naman ako sa kanila kasi my business ako doon malapit sa branch na iyon and more than 2 years na nila ako client and this previous 2 months lang hindi ko na maintain ang balance kasi after magdeposit staff ko e withdraw ko agad to transfer to my other bdo checking account… kainis!

  11. shan says:

    Help. I work as an offshore freelance animator, I withrawed the fund from my papal to my bdo account, i waited for abount a week and went to the available atm machine to check my balance and realize its closed, I checked my paypal account and status says completed, i called paypal and the guy told me Wala na daw silang magagawa kapag nasa bank na at completed na ung status. At hindi daw papasok yun sa bdo account kapag closed na. Its been a month na pero wala paring bumabalik sa paypal account ko. babalik pa ba yun kapag completed na status? Tumawag ako sa bdo at sabi imposible daw na my pumasok kapag close na ung account. So san na napunta ang 3,000 UDS ko?

  12. Mathdelane says:

    I feel for you. I did the same in the past. Fortunately, the money went back to Paypal minus the 5 dollar free from BDO after a week. Back then, I talked to a BDO branch manager who handles the remittances, Paypal is considered a remittance. If BDO account is closed, chances are BDO has the funds but normally (as they say, their systems rejects it from going into a closed account) it should go back to your Paypal account if it’s still active. A month is a long wait and 3,000 dollars is serious money, I’ve definitely gone so stressed and run amok if I were you. Back then, the withdrawal status changed (I just forgot what it says) when BDO pushed the money back to Paypal. Happened only in 3 days so within a week I got my money back to my Paypal account. I watched it closely kasi within 3 days after I processed it online, ganun ko sya tinutukan.

    Next time, limit your transfers to small amounts. Large sums make eyes pop and minds go wild. A devil’s work. You know what I mean… Ingat na lang next time and I hope you’ll get your money back.

  13. shan says:

    Issue resolved after bombarding paypal with calls, funds returned 24th of May without any return fee, It took them a month to realize.

  14. Mathdelane says:

    Good for you.

  15. cm says:

    I had a similar experience with BDO. Maybe if they informed me first I would’ve deposited money to my account ASAP. But they closed it no notice whatsoever. I was going to re-open my account with the same bank but when I came across this blog it made me think twice. So I say F* ’em! This bank SUCKS DICK!

  16. Mathdelane says:

    They once told me that they cannot re-open a closed account rather create a new one. As a freelancer, I prefer UnionBank then I have another bank account as a backup for PayPal withdrawals.

  17. Abbie says:

    I thought BDO is the best choice since there are alot of perks apart from banking since SM is in the GOC. But BDO has been slowly getting on my nerves these days. Previously, I was with BPI and no such hassles happened and I think I’m better off with them. BPI would even send a snail mail informing the acct holder that the acct has been dormant for the period they would flag an acct “dormant” and will advise to make a withdrawal/deposit to activate so they would not close it. They should inform us these things since it was our acct they’re closing. BDO sucks. Reactivation is more stressful than completing the requirements to open a new acct. I’ll check Metrobank and see if this is better..

  18. John says:


    Gawd this is awful. I think I’m in the same situation right now. I would usually put money in my bank before the month ends; In this case before 2012 ended, I tried to put money on my bank on the 28th via Fund Transfer from another BDO Account, it gave me an error: “Unsuccessful Transaction IST04”. I googled it, it led me to this blog.

    You are right. There should be notices as to whether the account is gonna be closed, below maintaining or charges have been made.

    And to think it was just he 28th of December.

    Anyway, Thanks for the info!

  19. Athan says:

    Same here…..

    Sobrang aberya un nanyayari ngayon kasi sana man lang magbigay sila ng notice parang gusto ko sumigaw sa BDO branch namin emergency kasi at hinahantay ko un transfer ng paypal to BDO talaga


  20. kixs says:

    Medyo iba sitwasyon ko.. di kase ako ngkaroon ng transaction sa kanila ng 2years.. dahil napunta kami ng misis q sa italya at d nmin nahulugan o nadagdagan ang pera sa bank BDO sa loob ng 2years dahil madami kami priority na inuna.. just last week hinulugan nmin ng 60k pesos ang account.. then bigla tumawag samen ung money transfer center at sinabing di tinanggap ng bdo dhil closed na daw ang account… papaanong ang bank account with 40k balance account ay nclose without notice.. email man o kahit anong babala man lng n macoclose ang account.. ngaun d pa rin naiibalik ang 60k n natransfer last week dhil my screening pa raw bago ibalik ang pera.. wtf!!! Ano kaya dapat gawin sa case ko? My chance pa ba mabawi q ung balance q na 40k na importante smen dhil pera un ng kasal nmin… tsk 100k yung nkapending sa kanila.. d rin maliit na halaga yun 🙁 kainit ng ulo

  21. Mathdelane says:

    Apologies for the delayed response. Try calling them and ask for a manager handling remittance. You should get your money back minus the fees that BDO will charge for sending it back.

  22. arvin says:

    Nangyari nadin sakin yan. kainis napending tuloy ang sweldo ko. Online din ang work ko. Advice ko lang guys magtira kayo kahit 400 pesos. kasi ang interest ng bdo ay 300pesos per month kapag below minimum ang balance nyo. Kapag nag negative kasi yan automatic close account na.

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