What's it called when someone takes cash from your bank account without permission? Most would say it's stealing, but banks call it 'setting-off'.
This is a hidden danger for anyone with credit cards, loans or mortgages at the same outfit where they bank or save. Banks can, and do, use your money to repay overdue debts, which can cause financial hell. Marissa Pangilinan, wife of sports journalist Robbie Pangilinan plans to file a complaint against BDO for deducting P77,000 from their joint account without informing them.
Pangilinan will soon undergo angioplasty after suffering from a heart attack back in 2011, a stroke in 2017, and severe palpitations since last year. For the past nine months, The family has been raising funds for the costly and urgent medical procedure.
“We had a BDO joint account for seven years already. After my husband’s check up at the Heart Center, I withdrew cash for our lunch, and was shocked to find out that we were losing 77k,” said Marissa Pangilinan, who immediately called the BDO hotline to report the missing money.
The customer service representative transfered the call to another office, saying they cannot disclose to Marissa the reason why P77,000 was debited from the account. The CSR asked for Robbie, who was not with Marissa at the time. The CSR informed Marissa that Robbie needs to call a certain number for further details on the lost money.
The Pangilinan family is disappointed as they felt their money in unsafe in the bank of their choice.
“Kinuha nila without informing us. Sana man lang tinawagan nila kami at kinausap bakit nawala yung pera namin sa banko mismo nila. Hindi po ito ATM scheme or na-hack dahil sa purchase. Nawala yung pera namin dahil kinuha mismo ng BDO. No email, document or reminder that they will get our money ,” added Marissa. Robbie was very weak to comment at the time.
According to BDO, Robbie had a credit card debt about 10 years ago. They cited the BDO ATM-debit card Terms and Conditions: In case of overcredit, erroneous credit, failure to debit, erroneous debit, misposting, or any error in transaction involving any amount to Cardholder’s Account/s as appearing in the records/books of BDO… Cardholder hereby agrees and undertakes to immediately return to BDO the Amounts/s Due to BDO without need of notice or demand, plus any and all expenses, costs and damages which BDO may have incurred, including penalty interest at BDO’s then prevailing loan rate based on the Amount’s Due to BDO, in connection with the enforcement of BDO’s right to recover and collect the Amount/s Due to BDO.
The T&C also sates that the cardholder irrevocably authorizes BDO and its representatives to effect the debiting of funds from his/her account the amount due to BDO, without need of further act and deed.
Mrs. Pangilinan filed a complaint through a letter and it was advice to coordinate directly with their Collections Officers at 8702 6222 as they are in best position to advise regarding the matter. Please note that our Collections Department is available from Mondays to Fridays (except holidays), 8:00 AM to 7:00 PM, and on Saturdays (except holidays) from 8:30 AM to 5:30 PM (Manila time) only . We choose to seek help to BDO President and CEO Nestor V. Tan re. this matter , Marissa said.
As of this moment the bank has never replied or explain the details of the deducted money - Robert Louis Pangilinan
