I was not able to use all the funds that I withdrew last week. Being a responsible adult (haha!), I decided to return it to my emergency fund rather than buy something that I'll later regret. I went to my BPI branch and deposited the excess (oh, by the way, those Express Deposit Machines are the best! I don't know why few people are using it.) After which, I added the freshly deposited funds to my existing UITF though online banking. Also, I decided to enroll in their Regular Subscription Plan because I want to return the full amount that I "borrowed" from my emergency fund. Their RSP is an Auto Debit Arrangement wherein a certain amount will be deducted in my savings account and will be added to my investment fund.
Their online subscription is easy! Just like in redemption, you need to have an online account wherein you should also enroll your investment fund.
1. On your online account, go to Investment tab > Unit Investment Trust Funds > Subscribe. You can choose Subscribe Now if you just want to add to your existing portfolio or you can choose Regular Subscription Plan (RSP) if you want to subscribe for additional units and regularly purchase every month or quarter.
2. Select your investment fund account number. Once you do so, the next screen will show you your account details.
3. Next screen will show the funds best suited to your risk profile. Just tick the box saying that you understood the risk disclosure of the fund that you've selected and click RSP Set-up.
4. Now you're ready to enter your order! The minimum initial RSP is Php 10,000, subsequent RSP is Php 1,000. I decided to go with the minimum Php 10K and add Php 1K every month for the next ten years! (hahaha, don't worry, you can modify your RSP)
5. Tick the box to agree to the terms and conditions, enter your password, and you're done.
Cut-off for booking is 12 noon. If you go beyond that, your settlement will be the next day. Also, BPI has no minimum holding period (yay!!!).
By the way, just a disclaimer. I'm not a BPI employee nor paid by BPI to write this post. I just like the way they make almost everything work online. I hope BDO and Metrobank will follow suit. :)
Your post reminded me that I forgot my BPI Express Online login details AGAIN!
ReplyDeleteBecause my BPI account is exclusively for my emergency funds, I don't really feel the need to check out its online features and am content with checking out the balance every time I make a deposit. But this post has me thinking that I really should maximize its offerings.
My BPI account is also my emergency fund account and my short term investment account. :)
DeleteThanks for sharing!
ReplyDeleteBPI is definitely making it very convenient for their customers.
i agree. i have long been a loyal customer of bpi's uitf, specially their equity funds. hey, nice blog! i'll be back here from time to time. goodluck to us this 2013! :-)
ReplyDeleteThank you! I might try their equity fund (mine is invested in other banks) since I love the convenience and it's more accessible to my office.
DeleteThanks for this! Your post convinced me to put some of our funds in BPI.
ReplyDeleteGood for you! :)
Deletekailangan ba, kapag nag open ka ng rsp. me 10k ka na tlaga sa bpi savings mo?
ReplyDeleteYes, you need 10k to open kasi.
DeleteHi sis!
ReplyDeleteI love that about BPI too! :)
ANyway, have you tried redeeming your funds yet?
Hmm you mentioned that I can't add to the existing fund. Is adding only possible through the RSP? If manual adding, hindi pwede?
ReplyDeleteHi! What I meant was you can add, it's another subscription, with different NAVPU. you can add whenever you like, RSP adds convenience since it will automatically debits your account and place it in the fund of your choice, regardless of NAVPU on that day.
Deletei'm still a little confused about the RSP. since the minimum is 1K, it means you can open another subscription for only 1K?
ReplyDeleteYes! You can add to your existing fund as long as you already have a minimum 10K investment. Just view RSP as an autodebit program. Every month (or whatever period you choose), BPI will automatically debit your account and will place it on your investment (in my case, 1K is added to my premium bond fund every 15th of the month. Please note however that NAVPU changes everyday, so the number of units I get this month will be different from what I will get in the future months.
Deletei see. so it's added to the existing fund. but if i will only make like a manual addition, it's not possible? kelangan through RSP talaga? i want to add sana but i won't be able to do it regularly since i'm just a student. i get it from my allowance kasi.
DeleteOf course you can! Just choose "Subscribe Now" instead of RSP, see my first image on this post.
DeleteGood for you for investing so early! :)
that's great! thank you so much for all the info! they didn't explain it to me in detail kasi sa bank. your help really means a lot for beginners like me. :) i got interested in UITFs after watching and reading an article about investing your money in a fund that beats the inflation rate. talo ka daw kung sa savings account lang kasi.
ReplyDeleteGlad I could help. :)
Deletetry nyo icheck eto... http://www.pesorepublic.com/db/all-about-mutual-funds-uitf-vul-investing/
ReplyDelete