(If you want a quick guide for beginners how to start investing in the Philippine stock market, you can download your free ebook here.)
The versatility of a BPI account
Just want to share for newbies asking where to start. Having a BPI account is one of the most versatile tool in starting your investment. Some may not know but you can do a lot of things with your BPI account.1. Rule 1 – start savings, ensure to have a savings account. You may open a BPI savings or checking account. Do not start your investment adventure without enough savings and emergency funds.
2. Rule 2 – emergency funds. You can link your BPI savings / checking account to open any of the BPI trust funds. For emergency funds, to ensure capital preservation, minimal risk and growth, go for BPI money market funds or BPI bond funds. One good news, all BPI trust funds have no holding periods! Can be withdrawn anytime without a penalty, what a nice feature 🙂 Note, this is for BPI UITFs only, Oddyssey and ALFM MFs have holding periods.
3. Investment – you can link your BPI savings / checking account to open a BPI equity UITF fund or you can link your BPI savings / checking account to open a BPI Trade trading account. Now here comes the versatility, you can easily move your money online from your savings/checking account to your BPI trade account and vice versa, withdraw from the trade account and move back to your savings/checking account.
4. Long-term – you can setup your BPI savings/checking account to have an EIP to your BPI trust funds, this means, an auto-transfer of funds on a specific period (monthly) from your savings/checking to your BPI trust funds.
5. Online and versatility – all of this BPI accounts (savings, checking, trust UITF funds, and trading accounts) are online and can be interlinked! You can always monitor online status of your accounts anytime anywhere, make necessary processing within and between your accounts. The power of versatility! 🙂
2. Rule 2 – emergency funds. You can link your BPI savings / checking account to open any of the BPI trust funds. For emergency funds, to ensure capital preservation, minimal risk and growth, go for BPI money market funds or BPI bond funds. One good news, all BPI trust funds have no holding periods! Can be withdrawn anytime without a penalty, what a nice feature 🙂 Note, this is for BPI UITFs only, Oddyssey and ALFM MFs have holding periods.
5. Online and versatility – all of this BPI accounts (savings, checking, trust UITF funds, and trading accounts) are online and can be interlinked! You can always monitor online status of your accounts anytime anywhere, make necessary processing within and between your accounts. The power of versatility! 🙂
You don’t see a lot of market actions so you’re not bothered with dips and blows. And the bank-linking is what I like most.
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