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RETAIL BANKING | Staff Reporter, Philippines

Bank of the Philippine Islands blames 'internal error' for account balance mispostings

Customers report losing money in their accounts.

Bank of the Philippine Islands blamed an internal data-processing error for inaccurate balances in some of its customer accounts amid a flurry of claims on social media over unauthorized withdrawals and missing funds, reports Bloomberg.

Some deposit accounts don’t reflect accurate balances because the processing error had caused past transactions to be either debited or credited twice, the third-largest Philippine lender by assets said in an advisory Wednesday.

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