BPI's Digital Savings Initiatives Transforming Banking for Filipinos

From left to right: Anne Christine Ruiz Head of Deposits, BPI; Anne Guiritan (Avida Condominium Winner, Anne Jara, Brand Marketing Head, Avida

Open a #SaveUp account by downloading the BPI App or through the BPI Flagship store in Lazada. Alternatively, open a #MySaveUp account from the GSAVE menu of the GCASH app and discover a world of possibilities.

BPI's commitment to innovation, convenience, and customer centricity is helping more Filipinos achieve their financial goals through various digital channels. Starting in 2021, BPI’s #SaveUp allows customers to open a savings account via the BPI App without the need to visit a branch. 

Building on that success, in 2022, BPI launched BPI #MySaveUp, which enables customers to open a savings account through the popular online wallet, GCash. This year, BPI has taken things to the next level with a brand new channel and partnership with Lazada, one of the biggest e-commerce platforms in Southeast Asia. With the new BPI Flagship store, users can easily "add to cart" and open a savings account, #SaveUp, along with other BPI products. 

“Through these initiatives, BPI is empowering Filipinos with the ease and convenience of managing their finances anytime, anywhere through the various channels that cater to their unique banking needs. All it takes is 5 minutes and 1 ID.” ~Asi Ruiz, BPI Deposits Product Head

From left to right: BPI’s Ma. Carmina Marquez Head of Deposits (at the time), Ann Collin Imperial (Kia Winner), Manny Aligada Kia President (at the time), Bob Palanca, COO of Iconic Dealerships, Inc.

Despite the digital savings landscape nowadays heavily focusing on unprecedented high interest rates to attract depositors, BPI pioneered a different approach; one that is more sustainable yet still rewarding and affordable. 

In 2022, the Bank launched a rewards program exclusively available for its digital savings products.  The promotion concluded earlier this year, and two newly acquired BPI digital accountholders, Anne Imperial and Anne Guiritan, not only benefited from a convenient and easy-to-manage digital savings account but also won life-changing grand raffle prizes. Imperial drove home a brand-new Kia Stonic Style Edition, while Guiritan won an Avida Vireo Studio condo unit.

“BPI made saving more exciting for me as I was also looking forward to participating in the program and winning prizes. My #SaveUp account inspires me to enjoy life while working hard and saving harder.” ~Ann Collin Imperial, Kia Winner

This year, in celebration of the bank’s 172nd anniversary, BPI also waived the maintaining balance fee for the BPI #SaveUp and #MySaveUp accounts, making saving more affordable and convenient for its digital clients. 

Our vision is to make banking more inclusive, and encourage more and more Filipinos to start the habit of saving. And with all these efforts to provide accessible, relevant, and rewarding banking services to more Filipinos, BPI has already opened more than 1 million digital savings accounts, demonstrating our agility in meeting the ever-evolving needs of customers, and the number continues to grow,’’ said Ruiz.

BPI awards clients who won the #MySaveUpPromo

GCash, BPI seek to reach unbanked with BPI #MySaveUp

Did you know that 53 million Filipinos have no bank accounts? That is a staggering 69% percent of the country’s population from BSP’s Q3 2021 study.

The problem? Access. Many of them lack the documents required to open bank accounts. They opt to just keep their cash at home for easy access in case of emergency.

To encourage more Filipinos to go into formal banking, GCash, the country's leading e-wallet, recently partnered with the Bank of the Philippine Islands (BPI) to reach unbanked Filipinos, particularly working millennials.

This is part of the top mobile wallet’s continuing innovation to empower Filipinos and find  solutions to digitalize their financial transactions, including paying for their purchases and bills, sending money to their loved ones, and building up their savings so they can have greater financial security and freedom in life. 

The partnership between GCash and BPI offers BPI #MySaveUp, an in-app feature in the GSave marketplace. 

"The goal of GSave Marketplace is to provide savings account options that would best fit their needs. The collaboration with BPI allows GCash users to enjoy the bank's wide reach and services nationwide. BPI #MySaveUp gives the underbanked and unbanked Filipinos access to formal banking through the GCash app.” ~Winsley Bangit, chief customer officer at GCash

Helping further scale up financial inclusion, BPI #MySaveUp paves the way for unbanked Filipinos to easily apply for and own a formal and all-digital account sans the long application process, allowing them to start their saving journey and achieve their financial goals while earning higher interest rates. 

Through this partnership, doing financial transactions and managing an account become plain sailing thru their GCash account or BPI mobile app. This new feature also offers free fund transfer from a user’s BPI #MySaveUp account to his GCash wallet and vice versa.

Users also have an option to get a BPI Debit Mastercard in any BPI branch for only P150 so they can access their account and withdraw from thousands of BancNet and Mastercard ATMs worldwide. 

"We, at BPI, are committed to realizing our vision of building a better Philippines. We are committed to continuously pursue financial inclusion programs in support of the BSP's goal for 70% of adult Filipinos to have formal financial accounts by 2023. This partnership with GCash brings us closer to this target as we provide more Filipinos a path towards financial wellness." ~Maria Cristina L. Go, Executive Vice President and Head of Consumer Banking at BPI

BPI #MySaveUp users can also win monthly prizes. Every Php 10,000 saved by the end of the month or have at least Php 3,000 worth of valid transactions within the month earns them 1 #Coin which they can use to buy a game card to win electronic GCs or eGCs from BPI. 

Applicants can open their BPI #MySaveUp account on their GCash app. They simply need to click the GSave icon then choose BPI #MySaveUp. Once in, they can open a savings account and proceed with using their GCash profile. After receiving the email confirmation from BPI, they can then finally start accessing BPI #MySaveUp. 

For non-GCash users, they just need to download the app, upload one valid ID and wait to be verified. Once done, they can enjoy all the products and services of GCash.