BPI’s Mysterious TXN AFTER CUT-OFF
Imagine my surprise to seeing a 10k deduction on my BPI account one Sunday morning and the description was “TXN AFTER CUT-OFF“.
My first reaction was to do an inner panic where my brain creates the following scenarios:
- OMG I got scammed?! But where? When? Why?
- Is this a system glitch? how come it has only happened now ? Am I lucky or unlucky?
- Does BPI know about this? I need to call their hotline asap!
- How about Google? Is this an isolated case? Maybe it has happened to someone else?
Of all the scenarios, the first thing I did was to check Google and did a search to know more about it.
I found out that “TXN After Cut-off” is a generic description used for all transactions that happens on a non-banking day (e.g. Holidays and weekends). So for example, if you withdrew money on a weekend then you will see this message and it will only change on Monday.
Here’s a snippet I got from BPI.
(b) You can access your Accounts through your Express Teller Card/Data/Number 7 days a week, 24 hours a day. For purposes of dating your transactions on these 7×24 channels, a bank cut-off time has been implemented. All transactions done before the designated bank cut-off shall be posted to your Account on the same day. Transactions after cut-off on a banking day or completed on a Saturday, Sunday or banking holiday, will be posted on the next banking day.
However, what wasn’t clear to me was what transaction did I do since I didn’t withdraw from any ATM on that day and I only logged in to my account the day after this supposed transaction took place. I have a moment of peace then another round of panic attacks!
… only to realize that maybe this was my auto-deduction for my save-up account. So I quickly checked my save-up account and found the same transaction but instead of debit; it was a credit instead.
Till next time,