Resumption Of Interbank Transfer Fees Causes Online Banking Issues For BDO And Gcash

Resumption Of Interbank Transfer Fees Causes Online Banking Issues For BDO And Gcash

Gcash and the BDO have encountered issues with their app and online banking platform, mostly in Apple gadgets that run the latest operating system, iOS14. Many of their account users couldn’t access their online accounts through their app and website. This issue was immediately resolved on Tuesday afternoon after a barrage of complaints flooded both on Social Media. 

However, another issue with BDO’s online banking arises on Wednesday morning, disabling users to make online transfers and many reporting no access (again) to their accounts. Due to this, BDO released a statement about the incident, apologizing for the inconvenience it caused its customers. At the same time, they advised customers to use their ATMs or visit their branches for urgent transactions. 

BDO has reported the incident to the Bangko Sentral ng Pilipinas (BSP), according to its Deputy Governor for Financial Supervision, Chuchi Financier. The BSP Governor assured that BDO is already addressing the matter and that a full report on the case must be submitted by the bank later. He also noted that penalties will be imposed on BDO depending on the glitch’s cause and how persistent these incidents are. 

On the other hand, Gcash has reported encountering the bank-to-bank transfer issues on Tuesday night. However, they managed to solve it in 12 hours, and Globe assured their customers that they are monitoring the app’s stability. 

BDO and Gcash are two of the financial institutions in the country that will resume the charges for interbank fund transfer for InstaPay and PESONet starting October 1. Their move to reimpose the charges could be the cause of their platforms encountering the recent errors.  Meanwhile, other banks such as RCBC has extended the waiver of their instant fund transfer fees until December 2020 due to the continuous community quarantine. 


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