BDO credit card payment glitch charged dollars instead of pesos
August 22nd, 2008 | by ka edong |
BDO
There was a glitch in some credit card transactions using BPI (and Citibank, HSBC) credit cards on BDO credit card terminals between August 16-18.
The BDO credit card terminals debitted dollar amounts by mistake instead of the peso amount.
BDO and BPI were quick to make the correction.
Today, I received the email below describing the results of their quick recovery action.
From bpiexpresscredit@bpi.com.ph
date Fri, Aug 22, 2008 at 10:16 AM
subject IMPORTANT ANNOUNCEMENT: YOUR TRANSACTIONS DATED AUG 16 - 18, 2008To all BPI Express Credit cardholders:
IMPORTANT ANNOUNCEMENT: YOUR TRANSACTIONS DATED AUG 16 - 18, 2008
This is to inform you that your peso transactions that were swiped on BDO credit card terminals from August 16 to 18, 2008 were erroneously transmitted by BDO to our office in US dollar currency. A purchase transaction of P1,000 swiped on a BDO terminal, for example, was posted on your card as a US$1,000 purchase (approximately P45,000). This was an error that affected all MasterCard cards (e.g. BPI, Citibank, HSBC) with transactions that were swiped on BDO terminals on the dates mentioned.
Note that corrections were posted on Aug 20, 2008 based on a reversal file sent by BDO. Additional adjustments were made on Aug 21, 2008 to further correct the difference brought about by foreign exchange rate movements.
I would venture to say that BDO (and BPI?) probably spent a significant amount to cover for the foreign exchange movements. This is to ensure that their customers had their balances restored to the correct value.
The announcement just brings awareness that big banks like BDO and BPI still do have small windows of error.
We all have errors.
What’s important is taking responsibility for it, and taking corrective action as early as possible to reduce any negative impacts.
And to learn the lesson so that the mistake does not recur in the future.
ka edong
3 Responses to “BDO credit card payment glitch charged dollars instead of pesos”
By esti on Aug 22, 2008 | Reply
haha! na receive ko rin ‘to. akala ko spam nung una kasi hindi sya from expressonline@bpi.com
[Reply to this comment]
ka edong reply on August 23rd, 2008 12:28 pm:
Hey esti,
Di naman tayo hiningian ng information.
Di rin naman tayo pina-click ng any link.
Kaya di ko naman siya ini-suspetsa na spam or phishing attempt.
But yes, it’s serves us well to be careful (sometimes known as praning
)
ka edongs last blog post..Quick and Easy Remittance by MyAyala.com
[Reply to this comment]
By tetel on Sep 18, 2008 | Reply
I just had a terrible experience with my BDO Credit Card this week. I was declined of my transaction which only cost about a thousand pesos. When I tried to check with the bank yesterday, I found out that I had a floating transaction of about 13,000.00. Where on earth did I made such huge amount of transaction? The CSR explained to me the glitch but needless to say, I already had my share of embarrassing moment at the store when my card was declined.
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