A major Philippine bank shut down online access and its cash machines for a second day on Thursday because of a glitch that drained some accounts but added money into others, creating at least one instant "billionaire".

Bank of the Philippine Islands (BPI), the country's third biggest bank by assets and with eight million customers, was forced to deactivate electronic transactions just hours after saying the problem had been fixed and online services restored.

"I had to borrow from a friend just to eat," said university student John Daniel Villanueva, 21, after heading to cash machine this morning and finding it offline.

"It's really a hassle. I don't have any cash and I need to pay some bills." 

Bank customers were shocked pn 7 June to find unauthorised withdrawals and deposits from their accounts, triggering fears the bank had been hacked and social media erupting with complaints against the 166-year-old lender.

There has been global concern about hacking following the world's biggest ransomware attack last month that struck hundreds of thousands of computers worldwide.

BPI blamed an "internal data processing error" for the glitch that led to unauthorised credits and debits on customers'