Did you know that bank accounts can become inactive or dormant? This happens when you do not have any activity or transactions in a long time.
Bank accounts, especially under traditional banks like the Bank of the Philippine Islands (BPI), need activity such as deposits or withdrawals to remain active and avoid dormancy fees.
If you want to know more about bank account dormancy and how to check your account’s status, keep on reading.
When does a bank account become inactive?
Account holders sometimes forget about their savings entirely and don’t realize that their bank account may no longer be active. That’s why it’s always important to know your bank’s terms and conditions and to read the fine print.
The time frame for account dormancy varies from bank to bank. For BPI, a savings account will be tagged as dormant if the account holder initiates no transaction within 2 years.
Inactive accounts incur monthly dormancy charges. BPI collects these fees after 5 years of inactivity if the account does not meet the minimum average daily balance required.
There are 3 ways to check if your BPI bank account is active or inactive.
How to know if a BPI account is still active through the app
Step 1: Open your BPI mobile banking app on your smartphone.
Step 2: Log into your account with your username and password.
Step 3: Check if you can access your account and if you can conduct in-app transactions.
Step 4: If you encounter an error, there is a chance your account is no longer active since their banking system removes inactive accounts.
How to know if a BPI account is still active through an ATM
Step 1: Go to your nearest BPI branch or the nearest online ATM.
Step 2: Insert your BPI debit card into the card slot.
Step 3: Enter your ATM PIN on the machine’s keypad. Ensure that your surroundings are secure and that your PIN is not visible to anyone.
Step 4: Check if you can view your account balance and perform transactions such as withdrawals.
Step 5: If you cannot access your account at the ATM, your account is likely inactive. If this is the case, you can ask for assistance from one of their branch employees.
How to know if a BPI account is still active through their customer support team
Step 1: Call BPI’s 24-hour customer hotline at (02) 8891 0000.
Step 2: Listen to the prompts and follow the automated instructions.
Step 3: Once you are connected with an agent, ask them to help check your bank account’s status.
Frequently Asked Questions (FAQs)
How do I reactivate my BPI account?
Reactivating a dormant account is easy. You have to go to the branch of your account, which is the branch where you first opened your account.
Ask the branch manager or one of the bank tellers to assist you with the reactivation. They will give you complete instructions on processing this request.
It’s best to bring documents valid government IDs and related banking documents with you.
You must initiate activity on your BPI bank account at least every 2 years to avoid dormancy. Even if it becomes inactive, it’s not a huge problem, and you can always reactivate it.
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