BPI, the Bank of the Philippine Islands, is the oldest bank in the Philippines and in Southeast Asia, founded in 1851, and is owned by the Ayala group. It is one of the country's top-two banks alongside BDO, with a very wide branch and ATM network. For a traveler the relevant facts are that BPI machines give Philippine pesos at the interbank rate, charge a foreign-card fee of about US$3.50 or 1.75 percent, and often allow a higher single-withdrawal cap than BDO, which makes it a good choice for one larger withdrawal.

Should I use BPI or BDO?

Both are top-two banks with high but similar fees, and neither is a BoA Alliance partner, so the tie-breaker is the withdrawal cap. BPI often allows a larger single withdrawal than BDO, which spreads the per-transaction fee better, so for one big cash pull BPI can edge it. BDO has the larger network and is inside every SM mall, so it is easier to find. With a fee-refunding Charles Schwab card the cost difference disappears and you can use whichever is nearest, just withdraw the maximum.

BPI for Travelers: The Philippines' Oldest Bank & a Higher ATM Cap

Q: How much does BPI charge foreign cards at ATMs?

BPI charges a foreign-card withdrawal fee of about US$3.50 or 1.75 percent per transaction, on top of the Visa or Mastercard interbank rate, which works out similar to BDO's flat 250-peso fee. BPI often allows a higher single-withdrawal cap than BDO (commonly up to around 20,000 pesos), which helps spread that fee. Because the fee is per transaction, withdraw the maximum each time. A Charles Schwab card refunds the operator fee worldwide. Always decline dynamic currency conversion and choose Philippine pesos.

Q: Is BPI in the Global ATM Alliance?

No, and neither is any other Philippine bank. The Philippines has no member of the Bank of America Global ATM Alliance, so a Bank of America debit card pays BoA's standard 3 percent non-network fee on top of BPI's own foreign-card fee. There is no fee-free option for BoA cards in the Philippines. A no-foreign-transaction-fee card such as Wise or Schwab is the cleaner setup, and Schwab refunds the operator fee, the best way to neutralize the high Philippine ATM cost.

Q: Will my US debit card work at BPI ATMs?

Yes, as long as it carries a Visa, Mastercard, Plus, or Cirrus logo, all of which BPI accepts. The ATMs have an English-language option and support 4-digit PINs. Use BPI machines inside malls or branches rather than street standalones for safety, decline DCC (the 'charge in your home currency' offer), choose Philippine pesos, and withdraw the maximum to spread the fee.

🇵🇭 This is the brand hub for BPI. For the bigger picture on the peso, the high flat ATM fees, the money-changers, and the no-Bank-of-America-Alliance gap, see the Philippines Money Guide. For exact ATM areas and the fee-beating playbook, see the Manila ATM Guide. For card-acceptance and transport, see the Manila Money Guide. For the country's biggest bank, see the BDO guide. Flying in? Ninoy Aquino International (MNL) guide.

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What BPI is, in one paragraph

BPI, the Bank of the Philippine Islands, is the oldest bank in the Philippines and one of the oldest in Southeast Asia, founded in 1851, and is owned by the Ayala group, one of the country's leading conglomerates. It is one of the top-two Philippine banks alongside BDO, with a very wide branch and ATM network, especially strong in the Ayala-developed business districts of Makati and Bonifacio Global City. For US travelers the relevant facts are specific: BPI machines give Philippine pesos at the interbank rate, charge a foreign-card fee of about US$3.50 or 1.75 percent per withdrawal, and often allow a higher single-withdrawal cap than BDO, which makes BPI a smart pick when you want one larger pull.

What BPI charges foreign cards

Fee component	Amount	Paid to
BPI operator fee (foreign card)	~US$3.50 or 1.75%	BPI, per withdrawal (refunded by Schwab)
Exchange rate	Mid-market (interbank)	Visa or Mastercard network
Per-transaction cap	Often up to ~₱20,000	BPI (commonly higher than BDO)
Your home bank's foreign ATM fee	$2-5	Your home bank, unless waived (Schwab, Wise)
Your home bank's FX conversion fee	1-3%	Your home bank, unless 0% FX card
DCC markup (if accepted)	+4-12%	Always decline. Pick Philippine pesos every time the screen offers your home currency.

BPI is Ayala-owned and strong in Makati and BGC. The Philippines has no BoA Alliance partner, so BoA debit pays BoA's 3% on top of BPI's fee. A Schwab card refunds the operator fee.

Why BPI's higher cap helps

The Philippine ATM problem is the combination of a high per-transaction fee and a low cap, and BPI eases the second half. Because BPI often allows a larger single withdrawal than BDO (commonly up to around ₱20,000), you can pull more pesos for the same one fee, which lowers your effective cost per peso. The move is the same everywhere in the Philippines, withdraw the maximum, but BPI's higher ceiling makes that maximum bigger. Pair it with a Charles Schwab card to refund the operator fee entirely, and a BPI machine inside an Ayala mall (Glorietta, Greenbelt) becomes the cheapest, safest way to get a large peso float.

Bank of America customers should note there is no fee-free ATM in the Philippines at all: with no BoA Alliance partner, a BoA card pays its 3 percent non-network fee on top of BPI's fee. A Wise or Schwab card is the better tool, and Schwab cancels the operator fee.

Where to find BPI in the Philippines

Makati & BGC

Ayala business districts

BPI is strongest in the Ayala-developed districts, with ATMs throughout Glorietta, Greenbelt, and the BGC malls. Covered in the Manila ATM Guide.

Top-two network

Wide national coverage

BPI runs one of the two biggest ATM and branch networks in the Philippines, so a machine is rarely far in the cities and tourist areas.

Higher cap

Bigger single withdrawals

BPI often allows a larger single withdrawal than BDO, useful for pulling a bigger peso float on one fee. Withdraw the maximum.

Ayala malls

Glorietta, Greenbelt, Ayala malls

BPI machines inside the Ayala-run malls, well-lit and guarded, the safe place to withdraw a larger amount.

MNL Airport

NAIA arrivals

BPI ATMs in the NAIA terminal arrivals halls; compare the airport money-changers, which can beat the ATM after fees. See the MNL airport guide.

Safety

Use mall machines

Stick to BPI ATMs inside malls and branches rather than street standalones, especially in busier districts and at night.

BPI vs BDO: the actual decision

	BPI	BDO
Foreign-card fee	~US$3.50 or 1.75%	~₱250 flat
Per-transaction cap	Often up to ~₱20,000	~₱10,000 (lower)
BoA Global ATM Alliance partner	No (none in PH)	No (none in PH)
Network size	Top-two, very wide	Largest in the country
Heritage / strength	Oldest bank, strong in Makati/BGC	SM Group, in every SM mall

Decision tree: both charge a high fee and neither is a BoA Alliance partner, so the tie-breaker is the cap, and BPI's is usually higher, which spreads its fee better on one big withdrawal. BDO is easier to find (every SM mall). With a fee-refunding Schwab card the cost gap closes, so use whichever is nearest and withdraw the maximum, leaning BPI when you want a single large pull.

Best card pairing with BPI

Wise for cards, Schwab to refund the fee

A Wise debit card gives zero FX markup and the real interbank peso rate at the malls, hotels, and Grab. A Charles Schwab card refunds BPI's operator fee worldwide, and BPI's higher withdrawal cap lets you pull a big peso float on a single refunded fee. Withdraw the maximum at a BPI machine inside an Ayala mall, decline DCC, and since the Philippines has no BoA Alliance partner, a no-FX-fee card is clearly the best choice.

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Charles Schwab Investor Checking

Schwab adds zero foreign-transaction fee and refunds ATM operator fees worldwide, including BPI's. Combined with BPI's higher cap, one large refunded withdrawal can cover days of cash. Still decline DCC and choose pesos.

Bank of America debit (no Alliance waiver here)

The Philippines has no BoA Global ATM Alliance partner, so a BoA card pays its 3 percent non-network fee on top of BPI's fee. There is no fee-free Philippine ATM for BoA cards; a no-FX-fee card, ideally Schwab, is the better option.

Frequently Asked Questions

How much does BPI charge foreign cards at ATMs?

About US$3.50 or 1.75% per withdrawal, at the interbank rate, with a cap often up to ~₱20,000 (higher than BDO). Withdraw the maximum. A Schwab card refunds the fee. Decline DCC.

Is BPI in the Global ATM Alliance?

No, and no Philippine bank is. A BoA card pays its 3% on top of BPI's fee. A no-FX-fee card is the better tool; Schwab refunds the fee.

What is BPI?

The Bank of the Philippine Islands, the country's oldest bank (1851), Ayala-owned, a top-two ATM network strong in Makati and BGC.

BPI or BDO?

Similar high fees; BPI often allows a larger single withdrawal, BDO has the bigger network and every SM mall. With Schwab the difference vanishes.

Will my US debit card work at BPI ATMs?

Yes, with a Visa, Mastercard, Plus, or Cirrus logo. English option, 4-digit PINs. Use mall machines, decline DCC, choose pesos, withdraw the max.

Why does the higher cap matter?

Because the fee is per transaction, a larger single withdrawal spreads it over more pesos, lowering your effective cost. BPI's higher ceiling helps.

The BPI + Wise + Schwab Combo

Wise zero FX markup for the malls and Grab; Schwab refunds BPI's fee; BPI's higher cap means a big refunded withdrawal.