Bank fees and immigration

[Brc981]

I’m probably massively overthinking this, but would appreciate some advice/insights. I worked in the Philippines for around 5 years, and then left in 2018. When I left, I didn’t close my bank account and credit card and assumed they would automatically closed due to inactivity. I didn’t owe any money and the account was in a small positive balance when I left. I’m about to go back to the Philippines for a holiday, and wondering if this would be flagged when trying to enter the country? In particular non-payment of bank fees (eg credit card fee, bank account maintenance fee etc) until the accounts were closed. Seems very unlikely, but you never know…
(Btw I followed all the correct procedures when I left - cancelling work visa etc. )

[gabgab]

Accounts with positive balance will incur inactivity fees until they reach zero and then shut down automatically.

Accounts which have not reached zero and are inactive for 10 years, will be forfeited to the state.

Edited February 7, 2023 by jimdones

[hk blues]

1 hour ago, Brc981 said:

I’m probably massively overthinking this, but would appreciate some advice/insights. I worked in the Philippines for around 5 years, and then left in 2018. When I left, I didn’t close my bank account and credit card and assumed they would automatically closed due to inactivity. I didn’t owe any money and the account was in a small positive balance when I left. I’m about to go back to the Philippines for a holiday, and wondering if this would be flagged when trying to enter the country? In particular non-payment of bank fees (eg credit card fee, bank account maintenance fee etc) until the accounts were closed. Seems very unlikely, but you never know…
(Btw I followed all the correct procedures when I left - cancelling work visa etc. )

 

For BPI : It will be closed due to inactivity once the balance reaches zero - charges will be deducted from any balance until there is nothing left (You can't get blood out of a stone springs to mind).  Now, how long this takes is anybody's guess as I have 1 which has had zero balance for 14 months but I still get an e-statement.  There are no charges against it each month.  If an account is left dormant it will attract a 30php monthly fee but only after being dormant for 5 years.  I assume that once all those 30php mount up and the balance becomes zero then it will be closed as per para. above.  

Again, this is for BPI but probably most banks here are the same.

Don't quote me (or blame me and expect me to visit you in prison)  but I very, very much doubt that there will be any issue as any charges will have taken your balance to zero and this should trigger an account closure.

[Dave Hounddriver]

5 hours ago, Brc981 said:

wondering if this would be flagged when trying to enter the country?

I have had at least 4 bank accounts fade away without closing them over a period of 15 years and they still let me in the country with no problem. In fact, I tried to close my last bank account and the manager said don't do it.  He told me it will close automatically and in the event there is a problem, such as a transfer of money being returned to me for any reason, then the account must be open to receive it.  

[Jollygoodfellow]

9 hours ago, Brc981 said:

’m about to go back to the Philippines for a holiday, and wondering if this would be flagged when trying to enter the country? I

I doubt if it would affect entry and doubt if the BI would know if you owed bank fees unless a  complaint was filed which l doubt too. I would not even think about your old bank account. I had a PS bank account in the GF name and after a while stopped using it. They message a lot saying there will be fees for being under the maintaining balance which was ignored. After a short while, I found the account was closed.  So to answer your question, I think you are correct to say you are overthinking.

[JJReyes]

Try depositing P10 or P100 into the account.  If the account is closed, it will be rejected.

[Kingpin]

As others explained, the BI doesn't care.

If the bank does, just say you forgot your password.  Another possibility is if you owe money, your debt gets sold to a collection agency. This would be good news though, not bad.

[Brc981]

Thanks everyone- appreciate the replies. I’ll drop by the bank while I’m there and confirm the accounts have been closed