What is the minimum maintaining balance of BDO debit card?
What is the minimum maintaining balance of BDO debit card?
By: Arlene Gentallan
In order to keep a BDO (Banco De Oro) debit card active and prevent incurring penalty fees, a minimum maintaining balance of 2,000.00 has to be kept. It is also called the Monthly Average Daily Balance (MADB) which the amount of money that has to be maintained to prevent penalty fees.
Monthly average daily balance is the average of daily balances in a month divided by the total number of days of that month. For example, if a person has a consistent daily balance of 2,000 for 1 month, then her MADB is 2,000. On the other hand, if the person has a sum of 2,000 during the first 29 days of the month and reduced her savings to 1500 on the last month, then her MADB becomes Php 1,983.3 ((2000x29)+(1500x1))/30.
Fortunately, if it's just 1 month of falling short of the minimum maintaining balance, then a penalty fee will not be changed. It takes 2 consecutive months of falling short of the required Php 2,000.00 monthly average daily balance for a penalty of Php 300.00 to be charged.
Resources:
https://www.bdo.com.ph/personal/accounts/peso-savings-account/atm-savings
By: Arlene Gentallan
In order to keep a BDO (Banco De Oro) debit card active and prevent incurring penalty fees, a minimum maintaining balance of 2,000.00 has to be kept. It is also called the Monthly Average Daily Balance (MADB) which the amount of money that has to be maintained to prevent penalty fees.
Monthly average daily balance is the average of daily balances in a month divided by the total number of days of that month. For example, if a person has a consistent daily balance of 2,000 for 1 month, then her MADB is 2,000. On the other hand, if the person has a sum of 2,000 during the first 29 days of the month and reduced her savings to 1500 on the last month, then her MADB becomes Php 1,983.3 ((2000x29)+(1500x1))/30.
Fortunately, if it's just 1 month of falling short of the minimum maintaining balance, then a penalty fee will not be changed. It takes 2 consecutive months of falling short of the required Php 2,000.00 monthly average daily balance for a penalty of Php 300.00 to be charged.
Resources:
https://www.bdo.com.ph/personal/accounts/peso-savings-account/atm-savings
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