Omari Gates
BDO Unibank is one of the largest banks in the Philippines, and it offers its own remittance service for people in the USA. However, there are alternative ways to send money to a BDO account from abroad, including from Australia. Remitly, for example, allows you to create an account and select the currency, amount, and delivery speed, before entering the recipient's information and your payment information. BDO itself offers a few ways to send money, including by using the receiver's BDO account number, mobile number, or QR code linked to their BDO account.
| Characteristics | Values |
|---|---|
| Ways to send money | Using the receiver's BDO account number, mobile number, or QR code linked to their BDO account |
| BDO Cash Pick-up partner | Palawan Pawnshop |
| Steps to send money | Log in to your account, choose Send Money, fill out the necessary details, confirm transactions via biometrics or 6-digit PIN |
| Steps to save the receiver's details | Tap Favorite, enter your preferred Favorite nickname, tap Save |
| Steps to edit the saved details | Log in, tap More, tap Manage Favorites, tap Send Money, choose the favorite receiver, tap Edit |
| Steps to delete a saved receiver | Log in, tap More, tap Manage Favorites, tap Send Money, choose the favorite receiver, swipe left and tap X or tap receiver and tap Delete, confirm deletion |
| Daily transaction limits | To own BDO Account - Up to your available balance, To another person's BDO Account - ₱200,000 |
| BDO remittance fees | Rise depending on the amount sent, lowest fees for transfers below USD 700, highest for USD 10,000 and above |
| Remittance form requirements | Sender's and receiver's basic information, bank details of the receiver |
| Remittance methods | In-person at Daly City, California, by phone, by mail |
| Remittance time | Cash pickup - within an hour, credit into BDO account - within 24 hours, SSS contribution payments - 3-5 days |
| Exchange rate | Mid-market exchange rate with no markup |
| Exchange rate margin | 0.8% of the total transfer amount |
| Remittance service providers | Remitly, Ria, InstaReM |
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What You'll Learn
Using a BDO remittance partner
To send money to a BDO account from Australia, one option is to use a BDO remittance partner organisation, which will process your transfer. These include banks like Wells Fargo and remittance services like Wise and Xoom. If you use one of these services, the fees will be set by the partner, not by BDO.
Wise, for example, allows you to set up a transfer from the US to the Philippines with just a few clicks, knowing exactly how much you pay and how much the receiving bank account will get. There are no Swift fees, which are extra costs incurred by banks that use the Swift network. Wise also offers instant money transfers, with cash pickups ready within an hour and credit into a BDO account within 24 hours.
To use Wise, you will need to provide your full name, telephone number, and address in the Philippines. If you want to receive the money into your bank account, you will need to provide your account number as well.
Another option is to use Remitly, which offers competitive exchange rates, low fees, and access to thousands of providers worldwide. To use Remitly, you will need to create an account using your email address through their website or mobile app. Then, select the currency, the amount you want to send, and the delivery speed. Finally, enter the name and information of the recipient, along with your payment information, and confirm the transfer.
You can also use BDO's own remittance service, which has different fees depending on the amount you send, with the lowest fees for transfers of below USD 700 and the highest for USD 10,000 and above.
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Sending money from a BDO account to another BDO account
To send money from a BDO account to another BDO account, you can use the BDO online banking portal or mobile app. Here are the steps to follow:
- Log in to your BDO account.
- Tap "Send Money".
- Choose the transaction type: select "Any BDO account" to send money to another person's BDO account.
- Fill out the required details, such as the recipient's name, account number, mobile number, or QR code linked to their BDO account.
- Review the details and tap "Confirm".
- Authorize the transaction using your Face ID/Touch ID/Fingerprint or by entering your 6-digit PIN.
You can also save the recipient's details as a favorite to make future transactions easier. On the success screen of your transaction, tap "Favorite" and enter a nickname for the recipient. To edit or delete a favorite, tap "More" and then "Manage Favorites".
Additionally, if you are sending money from Australia to a BDO account in the Philippines, you can use a money transfer service such as Remitly or RemitBee. These services offer competitive exchange rates and low fees. You will need to create an account, select the currency and amount, enter the recipient's information, and confirm the transfer.
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Using the BDO Online app
To send money to a BDO account from Australia, you can use the BDO Online app. Here's a step-by-step guide on how to do it:
First, download the BDO Online app from the App Store or Google Play. Once you have the app installed, log in to your account. If you haven't created an account yet, you can do so using your email address.
On the dashboard, tap the “Send Money" icon or go to the “Pay & Request” menu. Choose the transaction type: sending to your own BDO account, sending to another person's BDO account, or sending to other local banks and mobile wallets.
For transactions to another person's BDO account, you can use their BDO account number, mobile number, or QR code linked to their account. If you're using a QR code, simply tap "QR" on the app, select "Send or Request Money," and then scan or upload the QR code.
After selecting the transaction type, fill out the necessary details, including the recipient's account information and the amount you wish to send. You can also save the receiver's details as a favourite to make future transactions faster and more convenient.
Finally, review the details and confirm the transaction. You can authorise the transfer using your biometrics or a 6-digit PIN. The exchange rate will be based on the published rate on the BDO website, and there may be standard fees and commissions, as well as an exchange rate margin, applied to the transaction.
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Using a third-party provider like Remitly
To send money to a BDO account in the Philippines from Australia, you can use a third-party provider like Remitly. Here's a step-by-step guide on how to do it:
Step 1: Create an Account
First, you'll need to create an account with Remitly. You can do this by downloading the Remitly app from the App Store or Google Play, or by signing up on their website. Use your email address to create your account.
Step 2: Select the Philippines as the Destination Country
Once you have an account, select the Philippines as the country you want to send money to.
Step 3: Choose the Currency and Amount
Next, you'll need to select the currency you want to send (such as Australian Dollars) and the amount you wish to transfer. Remitly offers competitive exchange rates for Philippine Peso, US Dollar, and more.
Step 4: Select Delivery Speed and Method
Choose how quickly you want the money to be delivered, and select your preferred delivery method. You can choose from Remitly's over 10,000 banks and cash pick-up partners across the Philippines, including BDO Unibank.
Step 5: Enter Recipient Information
Provide the name and address of the person who will be receiving the money, and ensure that you select BDO as the specific bank.
Step 6: Enter Your Payment Information
Input your payment details, such as your credit or debit card information. Remitly uses two-factor verification and personal data encryption to ensure safe logins and secure transactions, so you can trust that your information is secure.
Step 7: Confirm the Transfer
Finally, review your details and confirm the transfer. With Remitly, you can rest assured that your money will be delivered securely and promptly. You can also turn on SMS/text notifications to keep track of your transfer and receive updates when your recipient gets the money.
Using Remitly to send money to a BDO account in the Philippines is a convenient, efficient, and secure option for senders in Australia.
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Sending money to another bank or e-wallet
Sending money from Australia to another bank or e-wallet in the Philippines can be done through BDO Unibank, Inc. (BDO), a large bank in the Philippines. BDO offers its own remittance service for people in the US, but it is not clear if this service is available in Australia.
If you want to use BDO, you can go to the BDO office in Daly City, California, or make the remittance by phone. There is a remittance form that you will need to fill out, and you will also need to have a BDO remittance account. You can also mail the remittance, but there is a different form that you will need to print and send. With the mail option, you can send a personal check up to USD 500 or a cashier's check or money order for higher amounts. You will also need to include a copy of your ID and put your name and address on the check.
There are also other companies that can help you send money to BDO accounts from Australia. Remitly is one such company. With Remitly, you can create an account using your email address through their website or their app on the App Store or Google Play. Then, you select the currency, the amount you want to send, and the delivery speed. Next, enter the name and information of the recipient, as well as your payment information, and select confirm transfer to send.
Another company that can help you send money to a BDO account from the US is Wise. With Wise, there is no markup on the exchange rate when you send money online, and there are no Swift fees.
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Frequently asked questions
You can send money to a BDO account from Australia using a money transfer service such as Remitly or Wise. You will need to create an account, select the currency and amount, and enter the name and details of the recipient.
For the recipient, you will need their full name, telephone number, and address in the Philippines. If you are sending money to their bank account, you will also need their account number.
Yes, there are fees for sending money to a BDO account from Australia. BDO's fees increase the more money you send, with the lowest fees for transfers below USD 700 and the highest for USD 10,000 and above.
Yes, you can use a BDO remittance partner organization to process your transfer, such as Wells Fargo or Wise. Alternatively, you can use a money transfer service such as InstaReM or Ria, which may offer lower fees.
