LOOK: Depositor loses entire savings due to minimum balance fees


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MANILA, Philippines - A Banco de Oro (BDO) depositor, who apparently was not aware of her bank’s policies, lost her entire savings due to minimum balance fees.

In a viral post on the Facebook page Pinoy History, Annabelle Akaogi lambasted BDO for closing her account and deducting P300 minimum balance fees on her savings account containing P5603 back in March 2014. The account remained dormant until it ran out of funds in February 2015.

BDO depositor loses entire savings due to minimum balance fees
PHOTO CREDIT: Facebook/Pinoy History
"Heto na 'yung bank book ko sa BDO may laman sya dating 5,603, di' ko sya nagalaw ng 3 years kaya pina up date ko. Ang sabi sa akin wala nang laman 'close account' na daw. 'Yun pala sila pala ang nagbabawas ng 300 per month service charge daw?” Akaogi wrote.

A photo of her bank book shows that her entire savings was completely depleted after incurring fees for almost a year.

Akaogi then questioned BDO’s credibility saying that the bank stole all her money instead of helping her save.

“Anong klaseng banko ito, imbes makapag-ipon ka ng pakonte-konte binabawasan pa pala nila, kaya buti na lng yan lng ang laman ng account ko tama nga ang balibalita tungkol sa BDO bank,” she added.

Towards the end of her post, Akaogi warned other depositors against opening an account in BDO.

“Kaya kung ako sa inyo, lahat ng may balak mag saving account sa BDO, huwag nyo nang ituloy imbes na magkaroon ka ng savings, ang mangyayari sa inyo unsavings.”

Akaogi’s post immediately spread like wildfire on Facebook amassing over 20,000 shares as of this writing. However, many netizens pointed out that Akaogi was at fault since her savings was below BDO’s minimum balance, which is P10,000.

Under BDO’s policy, a minimum balance fee of P300 will be deducted if your saving’s account falls below the minimum balance. Moreover, an account dormancy fee will also be collected if the account is dormant and falls below the minimum balance.

Read the full post below.


-- Mini, The Summit Express

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