Free Cash Withdrawals for BPI Clients at Robinsons ATMs Nationwide

There are more options available to Bank of the Philippines Islands (BPI) clients for making cash withdrawals without having to pay an ATM transaction fee

Good News! BPI clients can now use their BPI Debit Card to withdraw cash and check their balance with no fees at any Robinsons Bank ATM nationwide. This is after the Gokongwei Group's Robinsons Bank merged with Ayala Group’s Bank of the Philippine Islands (BPI).

The proposed merger is a statutory merger pursuant to Title IX of the Revised Corporation Code and Section 40(C)(2) of the National Internal Revenue Code, i.e. merger with the issuance of primary shares. Upon the effectivity of the proposed merger after receipt of all necessary corporate and regulatory approvals, the shareholders of RBC will collectively hold approximately 6% of the resulting outstanding capital stock of BPI.

On 13 September 2023, the Philippine Competition Commission released the signed decision clearing the proposed merger between BPI and RBC. The Bank is securing the approval of the BSP and the SEC.

Upon the effectivity of the merger, BPI will be able to unlock various synergies across several products and service platforms, expand the customer and deposit base of both banks through the merged entity, and, at the same time, by capitalizing on BPI’s expertise and network, enhance the overall banking experience of RBC customers. BPI will be able to expand its client base, accelerate growth, and ultimately increase shareholder value through partnerships with the Gokongwei Group.