Bank of the Philippine Islands (BPI) is expanding its branchless banking network by allowing customers to deposit and withdraw cash at 1,369 partner stores nationwide, including supermarkets, convenience stores, and other retail outlets, as part of its "Himala" campaign.

Launched on Wednesday, 1 July, the initiative transforms participating outlets into mini banking hubs, enabling customers to conduct basic transactions without visiting a branch. Through BPI's network of more than 7,000 partner stores, customers can also open accounts and apply for financial products at locations they already frequent, such as groceries, pharmacies, and gas stations.

Participating outlets include Robinsons Retail stores such as Robinsons Supermarket, Shopwise, The Marketplace, Robinsons Easymart, Robinsons Department Store, Toys "R" Us, and Uncle John's, as well as other retailers, pawnshops, and regional store chains.

Customers can generate a barcode through the BPI mobile app to facilitate deposits and withdrawals, which can then be processed at accredited partner stores. The service enables cash transactions without the need to visit an ATM or bank branch.

BPI said more than one million depositors have been onboarded through its partner-store network since the program began in 2023. What started as a channel for product applications has evolved into a broader banking ecosystem that now supports account opening, deposits, and withdrawals outside traditional branches.

The expansion comes on the heels of BPI's decision to permanently waive InstaPay and PESONet transfer fees, a move that BPI President and Chief Executive Officer Jose Teodoro "TG" Limcaoco said should be the norm rather than the exception.

“As far as the BSP is concerned, my interpretation of what the BSP is saying is that you can charge anything you want, but the difference has to be P1.50. We think if banks are willing to offer on-us free, why wouldn't you give the P1.50 also for free?” Limcaoco said at the launch of the bank’s “Himala” campaign.

The waived fees benefit more than 9.5 million users enrolled in BPI's digital platforms. Previously, the bank charged P10 per InstaPay transaction and P50 per PESONet transfer for most retail clients.

Limcaoco said the move is expected to encourage greater digital banking activity and deepen customer engagement.

“We think this just generates a lot more customers, a lot more activity, our ability to understand what the customer does. Therefore, we can see if a customer stays with us, we can see what kind of services we can give them — loans, credit cards, insurance, or deposits,” he said.

He also said banks may have limited flexibility to maintain wide gaps between intrabank and interbank transfer fees under the BSP's new framework.

“My view is they have to follow the BSP circular, and the BSP circular says your difference can only be the network fee, so you either go P0 and P1.50, or you go P13.50 and P15, or P8.50 and P10,” Limcaoco said.