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BPI Loan: Settling Past Due

Uh oh! I just realized I forgot to transfer fund. Ending, my personal loan payment which BPI automatically takes out of my savings account failed.

I thought I still have enough fund until I noticed the business day after the due date that my balance didn’t update.

The Remedy

I called customer service to verify if the auto-debit didn’t go through. The lady I talked to said it did not, or it might be delayed.

I was advised to wait until the next day to see if my balance will be updated. If not, I have to pay in a BPI branch. In short, OTC [over-the-counter]. Arrrgghhh.

Afraid of a bad record, I thought of bearing the hassle of dropping by a BPI office instead.

So, What Happened Next?

Sadly, my balance didn’t update the next day. I was convinced that the auto-debit failed even after transferring money to the source account.

I immediately booked a slot online via BEA which is a convenient option by the way. As usual, I only waited for a few minutes in my nominated branch before my queue number was flashed on-screen.

I just realized after the transaction that paying a loan is a piece of cake. It was like paying a utility bill.

Posting of BPI Loan Payment

I asked the teller if my payment will reflect the next day and she said yes. I know that’s how it works and I was right. My balance was indeed updated in the morning.

Finally! The problem was solved.

Lesson learned: Make sure savings account has enough funds for the auto-debit to go through. If there’s a problem, pay OTC instead.

Paying more than the past due is allowed. 👌

Please take note that this post has been created based on my personal experience and to serve as a reference

For questions, suggestions, and comments, use the comment form below or send me an email by filling out the form at the right sidebar. Feel free to inform me of updates about the topic.

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