FREQUENTLY ASKED QUESTIONS:

1. Which BPI Credit Cards can I use abroad to get the low foreign conversion rate?

You may use the following BPI Credit Cards abroad to enjoy the low foreign currency rate of 1.85%:

BPI Corporate Credit Classic is not eligible for foreign transactions.

2. How do I compute for my foreign transactions when I use my BPI Credit Card abroad? 

You can compute the Peso equivalent of your purchases abroad by first checking Mastercard/Visa foreign exchange rate applicable on the posting date of the transaction. Afterwards, a 1.85% foreign exchange conversion rate will be applied, which are comprised of the 1% Mastercard/Visa assessment fee and the 0.85% BPI foreign exchange conversion fee.

3. How do I enjoy BPI’s low foreign currency conversion fee of 1.85%?

When making a payment with your Credit Card abroad, choose to have your transaction processed/billed in the local foreign currency instead of being billed in Philippine Pesos. This way, you will not be imposed with unfavorable rate from the country’s local bank versus BPI’s offer. 

4. Why is BPI better in foreign conversion rate compared to other banks?

Compared with other banks’ service conversion fee from 2% to as high as 3.525%, BPI Credit Card rate is only at 1.85%! With your BPI Credit Card, you could save as much as P1,256.26 for every USD1,500 purchase.

To illustrate the comparison: If you purchase abroad and charge $1500 using your Credit Card, your total transaction amount would be as follows:

      A. Visa Credit Card:

 Bank     

Purchase Amount
(in USD)

Visa Foreign Exchange Conversion Rate¹

ADD

Total Service Fee

(B+C)

TOTAL TRANSACTION AMOUNT² 

(A+B+C)

Purchase Amount (A)

Visa Cross Border Assessment Fee (B)

Bank’s Foreign Exchange Service Fee (C)

BPI

$1,500

Php50

Php75,000

1.00%

0.85%

Php1,387.5

Php76,387.5

Bank C

$1,500

Php50

Php75,000

1.00%

2.525%

Php2,643.75

Php77,643.75

Savings with BPI

 

Php1,256.26

¹ May vary based on the Visa daily conversion rates
² Purchase Amount plus Service Fee

      B. Mastercard Credit Card:

Bank

Purchase Amount
(in USD)

Mastercard Foreign Exchange Conversion Rate¹

ADD

Total Service Fee (B+C)

TOTAL TRANSACTION AMOUNT*

(A+B+C)

Purchase Amount (A)

Mastercard Currency Conversion Assessment Amount² and Cross Border Assessment Fee³  (B)

Bank’s Foreign Exchange Service Fee (C)

BPI

$1,500

Php50

Php75,000

1.00%

0.85%

Php1,387.5

Php76,387.5

Bank C  

$1,500

Php50

Php75,000

1.00%

2.525%

Php2,643.75

Php77,643.75

Savings with BPI

 

Php1,256.26

¹ May vary based on the Mastercard’s daily conversion rates
² Purchase Amount plus Service Fee
³ Assessment and Service Fees are multiplied by the Purchase Amount in Php of 75,000 (excluding Mastercard Currency Conversion Assessment Amount)

5. Does the 1.85% Foreign Exchange Service Fee include the assessment fees charged by Mastercard or Visa?

Yes, the 1.85% foreign conversion fee already includes the 1% assessment fee charged by Mastercard/Visa. This processing or service fee applies to all transactions involving foreign currencies converted to PHP at point of sale, whether executed abroad, in the Philippines or online.

6. Which foreign conversion rate will be applied if my foreign transaction is in US dollars?

Transactions not in Philippine Peso shall be converted to PHP based on Mastercard or Visa’s currency conversion rate at the time of posting.

7. If my foreign transaction is not in US dollars, how will the conversion to Peso be?

In case of non-USD currency transactions, these shall be first converted to US dollars prior to converting to Philippine Peso.

To illustrate: a transaction in Yen using a BPI Credit Card Mastercard

Mastercard with Dual Currencies

Purchase Amount 

 (in JPN Yen)

Mastercard Foreign Exchange Conversion Rate1

Purchase Amount  (YEN to USD)

(A)

Mastercard Currency Conversion Assessment Amount2

(B = A x 1.002)

ADD

TOTAL TRANSACTION AMOUNT5

(C + D + E)

Settlement Amount 3

(C = B x Php50)

Mastercard Cross Border Assessment Fee(0.8%)

(D = C x 0.8%)

Bank’s Foreign Exchange Service Fee(0.85%)

(E = C x 0.85%)

Yen to USD

USD to Php

¥1,500

$114

Php50

$13.16

$13.18

Php659

Php5.27

Php5.60

Php669.87

1 May vary based on the Mastercard daily conversion rates
2
1.002 Mastercard Currency Conversion Assessment fee multiplied by the purchase Amount in USD ($13.16)
3
Mastercard Currency Conversion Assessment Amount of $13.18 multiplied by P50 USD to Php conversion rate
4
Assessment and Service Fees are multiplied by the Purchase Amount in Php ($13.16 x Php 50) excluding Mastercard Currency Conversion Assessment Amount
5
Purchase amount plus total Assessment and Service fees

8.  Is my BPI Credit Card accepted worldwide?

All BPI Mastercard and Visa Credit Cards are accepted in various establishments worldwide. Inform us of your travel plans to ensure that the card transactions made within and outside the country are valid and authorized by you. Call our customer service hotline (89-100) prior to your departure so we can assist you in all your travel-related card transaction inquiries.

9. Where can I check Mastercard and Visa’s daily foreign conversion rates? 

The foreign exchange rates are available from Mastercard and Visa websites and are updated daily. Directly access through these links:

 

 

For any concerns, you may email us at expressonline@bpi.com.ph or reach us by calling our hotline numbers at:
Metro Manila: (02) 89-100
Domestic Toll-Free No: 1-800-188-89100 (available for PLDT)
Mobile phone and International Access: 63 + 2 + 891-0000

Bank of the Philippine Islands is supervised by Bangko Sentral ng Pilipinas with telephone number (632) 708-7087.

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