BPI Business Account: Everything Philippine Businesses Should Know

In a fast-moving business landscape, financial agility is no longer an advantage, it is a necessity. Filipino entrepreneurs today require banking solutions that keep pace with their operations, enabling them to send payments quickly, manage cash flow efficiently, and stay on top of every transaction without friction. The right business bank account must help your business move with confidence.

Among the leading business finance solutions in the Philippines, the Bank of the Philippine Islands (BPI) business account is a popular choice. Known for its nationwide presence and reliable digital banking tools, the BPI business account offers services and banking features designed to support SMEs and established companies alike.

In this article, we’ll break down everything you need to know about the BPI Business Account, including account minimum balance, opening requirements, fees and key features that can help your business thrive in today’s competitive market.

If your business works with clients or suppliers overseas, we’ll also show you how using Wise Business can help you to manage over 40 currencies within a single account, allowing your business to simplify and enjoy significant cost savings on all your global transactions that could help you grow even faster.

Table of contents
What is a BPI business account, and how does it work? BPI business account pricing What type of business in the Philippines stands to benefit most from a BPI business account? How to open a BPI business account: Step-by-step guide Wise Business: A great alternative to a BPI business account

What is a BPI business account, and how does it work?

For business owners, BPI offers several types of business bank accounts designed to support different operational needs, from day-to-day transactions to cash flow management and payroll processing.

BPI’s business banking suite includes¹:

• Business savings account
• Business current account
• BPI BizLink checking account

In this guide, we’ll focus on the BPI BizLink checking account, which comes with cheque facilities while allowing businesses to manage their finances digitally through the BizLink digital banking platform. Through BizLink, business owners have the ability to monitor balances, approve payments, and process transactions securely anytime, anywhere.

If your business only requires a basic savings or current account, you can visit any BPI branch to learn about the latest offers and requirements. But for growing businesses that need better control, visibility, and convenience in managing local transactions, the BizLink Checking Account provides a strong foundation for day-to-day financial operations.

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BPI business account pricing

The BPI BizLink checking account¹ is designed for Philippine businesses that need reliable day-to-day banking and access to cheque facilities. While the BPI BizLink checking account offers convenience and security, maintaining the account does come with certain minimum balance requirements and transaction fees that business owners should factor into their operating costs.

Before opening a business account, you should understand the costs to maintaining a BPI business account. Here is a breakdown of the fees and transaction charges associated with the BPI BizLink checking account.

Account features	BPI BizLink checking account
Account opening deposit	10,000 PHP
Minimum balance	10,000 PHP
Fall under fees²	300 PHP
Local Transfers	15 PHP per transaction via PESONet
Transfer to foreign accounts³	14 USD per transaction
Digital banking access	BizLink mobile app
Other features	Cheque book and Check protect facility

Details accurate as of 11 Oct 2025

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What type of business in the Philippines stands to benefit most from a BPI business account?

The BPI BizLink checking account is designed for businesses that prioritise stability, traditional banking tools, and nationwide accessibility. With its cheque-issuing capability and integration with BPI’s BizLink online platform, it suits small, medium-sized businesses and established corporations that handle frequent local transactions, supplier payments, and payroll disbursements.

Hence, we think the BPI BizLink checking account is most suitable for two types of Filipino businesses:

1. Local small and medium-sized businesses that primarily transact in Philippine pesos and require a dependable local clearing and payment network.
2. Companies handling regular payroll or vendor payments that require cheque facilities or prefer traditional banking oversight.

As an established bank in the Philippines, BPI offers several advantages as a business banking partner. It offers access to a reliable banking infrastructure and a strong domestic network of branches and ATMs across the country. If your business relies on in-person deposits and cheque clearing, you’ll appreciate the convenience of BPI’s network. BPI also offers a range of useful business banking features such as fund transfer, mobile cheque deposits, account management and more via the BizLink mobile app.

That said, you should take note of the following limitations:

Hidden costs and slower international transfers

While BPI supports international transactions, it relies on traditional SWIFT transfers that often come with opaque foreign exchange markups, intermediary bank fees, and longer processing times. Even though the stated remittance fee is USD 14 per transaction, the true cost may be higher once exchange rate spreads are factored in.

Moreover, BPI’s foreign currency coverage is limited to just ten currencies⁴: EUR, JPY, HKD, AUD, SGD, CAD, GBP, CHF, CNY and NZD. Businesses dealing with partners in other markets may find this restrictive and costly to maintain.

Minimum balance requirements and fall-below fees

To maintain your account, you must keep a minimum balance of 10,000 PHP, or face a 300 PHP fall-below fee. For smaller or newly established businesses managing tight cash flow, this could add unnecessary pressure.

If your business works with international clients or suppliers, you might find more flexibility through a Wise Business account. Wise Business lets Filipino businesses receive payments from customers like a local while having the option to hold, send, and convert 40+ currencies from one account. The best part is that you’ll enjoy transparent, low conversion fees on your foreign currency transactions and always get the mid-market exchange rate.

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How to open a BPI business account: Step-by-step guide

You will need to visit a BPI branch to open a business account. While the process is straightforward, being prepared can save you time and ensure that your application is approved without delays.

Prepare required documents

Here are the requirements for a BPI business account. You should prepare them before heading down to a branch to open your BPI business account:

Valid identification documents of the business owners and signatories, such as⁵:

• Philippine National ID (PhilID/ePhilID)
• Company IDs issued by private entities registered with or supervised or regulated by BSP, SEC or IC
• Driver's License issued by LTO

Sole Proprietorship businesses should also prepare their Certificate of Registration of Business Name from the Department of Trade and Industry Philippines (DTI).

Partnership businesses should prepare their Securities and Exchange Commission (SEC) Certificate of Registration and Partnership Resolution.

Corporations should prepare their Secretary’s Certificate.

You should also bring along proof of your business address, Certificate of Tax Exemption or Preferential Tax Treatment, if your business is exempt from withholding taxes.

Visit a BPI branch to open a business account

Once your documents are complete, visit your nearest BPI branch and approach the staff at the business banking section. A BPI representative will help you fill out the application form and verify your documents. You will also be required to complete and submit the BizLink enrollment form to enrol in BizLink for access to the digital business banking tools.

The bank may request for additional supporting documents depending on the nature of your business and the BPI business banking account you wish to open.

Wait for approval

After you have submitted your business bank account application, you will need to wait for BPI to process your application before your account is set up and ready to use.

You may be required to transfer the opening deposit during the application process.

➡️For more details, read our guide on how to open a business bank account in the Philippines.

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Wise Business: A great alternative to a BPI business account

💡Are bank accounts limited to USD, EUR, or GBP options holding back your business? With a Wise Business multi-currency account, you can access over 10 local account numbers — far more currency options than the handful most banks offer. Plus, Wise makes it easy to hold, send, receive, and exchange 40+ currencies from a single account. With the freedom to send and receive payments in more currencies globally, you can focus on what matters most: growing a local business that knows no borders.

• Obtain account details to receive payments in USD, EUR, GBP, SGD, HKD and more for a one-time fee of 1,400 PHP.
• Zero fees when you get paid via ACH, FAST, InstaPay/PESONet, & other local transfers.
• Send money to pay invoices, suppliers & contractors fast, with less fees
• Always get the mid-market rate with transparent conversion fees starting from 0.57%.
• Pay your bills and ad-hoc overseas expenses using the Wise Business card without hefty foreign transaction fees.
• Seamless integrations with popular accounting software.

➡️Get started with Wise Business today

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Conclusion

While many entrepreneurs start out using a personal bank account for business, this approach can quickly become messy as your operations grow. It may even affect your business’s credibility when dealing with corporate clients or suppliers.

Opening a dedicated business bank account is an important step towards building financial discipline and transparency. For businesses operating primarily within the Philippines, a BPI business account offers a stable and familiar solution. With a strong local presence, cheque facilities, and reliable digital tools through BizLink, BPI provides small businesses and established enterprises with the structure needed to manage day-to-day transactions confidently.

That said, if your business works with international partners or customers, BPI’s traditional setup may not offer the flexibility or cost efficiency you need.

Limited foreign currency options, slow remittance times, and hidden exchange rate markups can erode your profits.

That’s where Wise Business comes in. With Wise, Philippine businesses can receive payments from overseas customers easily while holding and managing over 40 currencies in one single account. You will also be able to send international payments quickly for a low fee, while enjoying the mid-market rate with no hidden fees.

➡️Learn more about Wise Business today

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Sources:

1. BizLink | BPI
2. Account Maintenance and Transaction Fees | BPI
3. Remit fees | BPI
4. SME Banking: Foreign Exchange | BPI
5. List of Account Opening Requirements | BPI

Sources checked on 11 Oct 2025