BPI: Problems with accounts will be resolved 'within the day'

Metro Manila (CNN Philippines, June 7) — All errors that appeared as unauthorized transactions in the accounts of Bank of the Philippine Islands (BPI) clients will be resolved today and no one will lose any money, the bank said.

Clients of the bank were alarmed Wednesday when they discovered strange withdrawals and deposits in their accounts.       

As long lines of bewildered account holders were starting to form in some branches, BPI issued a statement saying that an "internal data processing error" had caused some accounts debited or credited twice for a past transaction.

The bank said the error caused some transactions at BPI and BPI Family Savings, between April 27 and May 2, to be double-posted on June 6.

It assured the public that the bank had identified the cause of the error and would temporarily suspend online and mobile banking channels to help address the issue faster.

"We are currently correcting the mispostings. We apologize for the inconvenience that this may have caused," it said.

BPI Senior Vice President Katherine Sta. Maria told CNN Philippines the bank was fixing the problem.

She denied that the bank's system was hacked, advising clients to go to the nearest branch for their transactions.

"We will make sure that all our clients who were affected by this, their accounts will be corrected within the day," she said. "It is not a hack or scam... Internally po, may nagkamali [something went wrong]."

BPI assured that none of its clients would lose money as a result of the technical glitch and that the bank would continue to service them.

The  Bangko Sentral ng Pilipinas (BSP) also dismissed rumors about any hacking. 

"Not true, but there was system error that resulted in double debits and credits," incoming BSP Governor Nestor Espenilla said in a message to the Finance Department.

Panic on social media

Netizens took to social media on Wednesday to report unauthorized transactions from their BPI accounts.

Some netizens said they lost up to five figures in a flash.

 

Others said they not only lost all their money, but also owe BPI some.

Meanwhile, some netizens reported money being added to their accounts.