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

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