SPOT.ph) The merger between Bank of the Philippine Islands and Robinsons Bank Corporation officially took effect on January 1. Two massive corporate entities merging is a big thing in itself, but we're sure the only real question in people's minds is "How will this affect me?". We lay it down for you and your You do not have permission to view the full content of this post. Log in or register now. below.
BPI and Robinsons Bank Merger: What happens now?
On a bigger scale, the merger means Robinsons Bank shareholders will end up owning approximately 6% of Ayala-led BPI, You do not have permission to view the full content of this post. Log in or register now.. The two linked paths in order to give "customers access to a fuller range of banking products and services as the combined organization will leverage on ecosystems of both the Gokongwei and Ayala Groups," said JG Summit President and CEO Lance Gokongwei in a statement in September 2023 when the merger was announced. BPI will continue to exist, with added benefits from Robinsons Bank.In more practical ways, the merger essentially means that Robinsons Bank users will be integrated into BPI. "We plan to effect a smooth transition and integration of RBC and its customers into BPI. Together, we aim to maintain quality banking services and offer additional best-in-class and innovative products to our expanded client base," said BPI President and CEO Jose Teodoro Limcaoco.
What happens to RBC users after the BPI and Robinsons Bank merger?
The short answer: nothing yet. As of the first week of the merger being in effect, Robinsons Bank users can continue using their apps, transacting at banks, and more, all as usual.One solid difference is that RBank users can now wí†hdráw from BPI ATMs at no fee, a major plus considering how rare a Robinson ATM can be. This was confirmed by SPOT.ph by a call to the RBank customer service hotline. BPI users can also wí†hdráw from RBank ATMs for free.
As for everything else, it's business as usual. According to the BPI FAQ page on the merger, "There are no immediate changes to your Robinsons Bank accounts." As the integration of Robinsons Bank products and services with BPI continues, users should receive updates and notifications.
And no, RBank users cannot transact with BPI directly just yet. BPI will "officially communicate with you once your Robinsons Bank accounts are integrated into BPI and when you may start transacting with BPI." There is no projected timeline publicly available as of writing.
FROM: SPOT.PH
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