Bank of Commerce

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(02) 8-632-BANK (2265)
Domestic Toll-Free Numbers:
1800-10-982-6000 (PLDT) 1800-8-982-6000 (Globe Lines)
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New Finance Charge Computation

HomeAdvisoriesNew Finance Charge Computation

July 23, 2019

In compliance with BSP Circular 1003, Bank of Commerce is implementing the new method of computing and imposition of interest or finance charge:

  • The Bank shall only charge interest or finance charges arising from the non-payment in full or on time of the outstanding balance based on the unpaid amount of the outstanding balance as of statement date cut-off, but excluding:

i.the current billing cycle’s purchase transactions reckoned from the previous cycle’s statement cut-off date, and

ii.deferred payments under zero-interest installment arrangements which are not yet due.

  • Interest or finance charges shall be imposed on the unpaid outstanding balance as of cut-off date each time a cardholder pays less than, or does not pay on time, the outstanding balance stated in his/her statement of account. Such interest or finance charge shall continue to be imposed until the outstanding balance and applicable interest are fully paid.
  • For credit card cash advances, a cardholder may be charged cash advance fees and finance charge on the date that the cash is obtained, subject to terms and conditions under credit card contract/agreement.

Latest News

Bank of Commerce records highest ever Net Income since SMC acquisition
BankCom trade finance business grows more than 6x since launch in 2019
BankCom’s Q3 earnings more than double to P1.49B
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Customer Service:
(02) 8-632-BANK (2265)
Domestic Toll-Free Numbers:
1800-10-982-6000 (PLDT) | 1800-8-982-6000 (Globe Lines)
Email:
customerservice@bankcom.com.ph
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Bank of Commerce is regulated by the Bangko Sentral ng Pilipinas. https://www.bsp.gov.ph
Access BSP Online Buddy (BOB) through BSP’s official website (Webchat)
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Deposits are insured by PDIC up to P500,000 per depositor.

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