Tuesday, October 4, 2022

BPI to Level Up Savings with #Coins Program

In the last two years, neobanks—or digital banks that don’t have physical

branches—have been disrupting the market by offering unprecedented high interest
rates for a basic savings account.
“People who immediately benefit from the high rates are usually those who are able to
maintain high balances and can afford to open another deposit account outside of their
current banks. Beyond the introductory rate, unusually high interest rates are not
permanent, nor sustainable,” explained Carmina Marquez, BPI Deposits Head.
This is the reason the Bank of the Philippine Islands (BPI) is introducing honest-to-
goodness savings products that are not only easy-to-open but also uniquely and
sustainably rewarding—the #SaveUp digital deposit accounts.  #SaveUp is now
available not only through the BPI mobile app but also via GCASH app’s GSAVE
feature called BPI #MySaveUp.
These BPI products offer a convenient and trusted option for digital natives and banking
newbies, with low initial deposit, affordable maintaining balance, and more attractive
savings rate than what one gets from typical savings accounts opened via bank
“What makes this BPI product unique is instead of participating in accounts with high
interest rates that usually benefit the more affluent depositors, it provides an easier,
more fun way of saving through a gamified rewards program that can benefit more
people from all walks of life,” said Marquez.
Called #Coins, this program rewards depositors with virtual game coins as they
save. The #Coins can be used to win prizes such as cash vouchers and wallet credits,
an automatic KIA Stonic Style Edition car, or an Avida Vireo Studio condominium unit.  
“BPI introduces another first with our #Coins rewards program for #SaveUp
depositors. We want to make saving more affordable, more convenient, more fun and
more rewarding. This is our way of making saving more inclusive and encouraging
those who have not yet tried banking to do so easily. This is also our way of giving our
depositors a chance to own a brand-new SUV or a prime condominium unit as they
grow their savings—things that remain aspirational for so many Filipinos. Through
#SaveUp made rewarding with #Coins, we hope to invite more Filipinos to experience
banking and begin their journey towards achieving their dreams,” said Ginbee Go, BPI
Consumer Banking Head.

The #CoinsProgram rewards clients with one coin per month if their BPI #SaveUp or
#MySaveUp account has at least P3,000 worth of transactions each month that include
branch and digital deposits, remittance, funds transfers, and similar services. Depositors
may also earn extra coin for every P10,000 saved in their BPI #SaveUp or #MySaveUp
account by end of the month.
Game perks
Through the #COINS Program, BPI rewards its depositors with virtual game coins every
time they save, which they can use to win prizes such as electronic gift certificates.
Every month, there are 5,000 eGCs worth P100 available for clients, 500 winners of
P500 eGC, and 100 winners of P1,000 eGC; add to that two major prizes: an automatic
KIA Stonic Style Edition car and an Avida Vireo Studio condominium unit in Arca South.
Depositors will be able to enjoy these game perks in the #Coins microsite, which
features a Winners Gallery that display the users who already won a prize. It also shows
how many total #Coins are at play, and how many available eGC prizes there are to
help users strategize and control their game luck.
The Bangko Sentral ng Pilipinas (BSP) recently reported that “savings deposits had the
biggest share of total deposits at 48.7 percent.” This is as the Philippine banking system
(PBS) sustained its solid footing amid the pandemic, according to the “Recent Trends in
the Philippine Financial System” report released by BSP in January 2022.
“Especially during this time of high inflation, it is important to sustain the growth
momentum of the deposit and savings segments. BPI will continue to do its part and
launch new innovative products and programs with convenient digital options, as well as
easy access, and a more rewarding experience. A more financially inclusive economy is
how we, in BPI, can help build a better Philippines,” said Go.
To earn #Coins while saving, interested depositors may open a #SaveUp by
downloading the BPI mobile app, or open a #MySaveUp account from the GSAVE
menu of the GCASH app.


The 171-year-old Bank of the Philippine Islands is the first bank in the Philippines and Southeast Asia. We are licensed as a
universal bank by the Bangko Sentral ng Pilipinas to provide a diverse range of financial services: deposit taking and cash
management, payments, lending and leasing, asset management, bancassurance, investment banking, securities brokerage, and
foreign exchange and capital markets. BPI has significant financial strength, with robust Tier 1 capital adequacy ratios and
profitability, underpinned by stringent compliance and risk management regimes. E-mail: Media: mjsilvestre@bpi.com.ph Investors:
Investorrelations@bpi.com.ph. Bank of the Philippine Islands l Ayala North Exchange Tower 1, Ayala Avenue corner Salcedo St.,
Legaspi Village, Makati City 1229 PH l +632 8246 6364l www.bpi.com.ph

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