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BDO to charge Php10 to send to any BDO accounts

Abe Olandres Editor-in-chief January 31, 2017 · 2 min read

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BDO has sent out a notification alert earlier this month to all its banking subscribers that they will start collecting “transfer fees” on BDO to BDO transactions. Currently, the transfers are free of charge but BDO is shifting to the Php10 per transfer starting March 15, 2017 and also increasing the daily limits to Php50,000.

We are pleased to announce that effective March 15, 2017, BDO Online and Mobile Banking customers will enjoy higher limits for Send Money to Any BDO Account and Send Money to a Paycode transactions. The new daily limit will be increased to Php 50,000.00.

Starting March 15, 2017, a fee of Php10.00 will be charged on all Send Money to Any BDO Account and Send Money to a Paycode transactions. You may still enjoy these transactions free of charge until March 14, 2017.

It’s usually an inherent benefit for customers to maintain and transact with the same bank as transactions are free of charges (intra-bank) compared to other banks (inter-bank). This is no longer the case with BDO. This could significantly affect people who regularly send out remittances to multiple accounts.

(UPDATE as of 1/31/2017, 6:13PM): BDO has issued this advisory on Facebook: “Fund transfer to enrolled BDO accounts will remain free of charge.The new transaction fee shall only apply to Send Money to Any BDO Account and Send Money to a Paycode transactions. You may continue to enjoy free of charge fund transfer transactions by enrolling the destination account in your Online Banking account.”

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Abe Olandres

Editor-in-chief

Abe is the founder and Editor-in-Chief of YugaTech with over 20 years of experience in the technology industry. He is one of the pioneers of blogging in the country and is considered by many as the Father of Tech Blogging in the Philippines.

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118 Comments

Maricar Baslot · 7 years ago

Hi Ma’am/ Sir. I’d like to ask if there are charges for cash deposit? I am currently enrolled at Velez Branch, while deposit will be done in Bulua branch. Will there be charge?

bananaman · 8 years ago

For all these reasons I stopped using my BDO account. Mr Sy should be put in court for usury and greed. Typical chinese businessman………a fortune is never enough they always want more until the pinoys bleed. You should all vote with your feet and choose a better (cheaper) option.

monica · 8 years ago

nag deposit ako last Friday lng ,my charge namna cya 50 php .. enrolled bdo account naman cya

roann · 9 years ago

can anyone help me clarify? How much fee for the following transactions?
Transfer to Enrolled bdo acct = free
Transfer to unenrolled bdo acct= is it free?
Send money to other bank acct like bpi= ?
thank u..

BDOSucksPhp · 9 years ago

As what Ray said, I had an experience where if your BDO account is from Manila and your going to deposit in BDO Cebu, you’ll be charged with Php50 service fee. They do find ways to charge you!

Rye · 9 years ago

It will definitely backfire, Whoever ideas was this, Its not a good one. Avoid BDO for now.

animal · 9 years ago

BDO “we find ways…….to charge you”

Ray · 9 years ago

BDO’s (and other banks except BPI) deposit fee for making a deposit in a different region from the one in which you originally opened your account is just plain stupid and exploitive. Everyone who moves to a different region has to close their BDO account first and then open a new BDO account in the new place. Think its time for BDO to step into modern times, it’s 2017 guys.

Beth · 9 years ago

Sa pagkakabasa ko iba ung post s advisory statemrent
Nklgay s post is bdo to bdo transfer it means nka enrolled when u call TRANSFER

SA statement nmn nklgay is another bdo to bdo account it meams using USING SEND MONEY (have daily limit) AND PAYCODE TRANSACTION kya my ng rereact.. ibg sabhn mgkaiba ung post s statement..

Better clear all.pra d mguluhan ang bdo user to avoid negative comment..

Kaye · 9 years ago

Free!?!
It has been 10 pesos per fund transfer since i remember..

carl · 9 years ago

I am not surprised with that P10 transaction fee. Do you know that BDO also charges a whopping P50 if you deposit in an account that’s from a branch located in a different province?

Jepz · 9 years ago

+1 gulat din ako dito. nagdepo na nga sa bank nila may charge pa din??

Rodolfo Florano · 9 years ago

BDO mag anunsyo ka kasi sa Filipino para maging madaling maintindihan. Nakakalito.

grace millares · 9 years ago

dapat free bdo to bdo accounts …bpi nga free eh

Haha · 9 years ago

Better read again and understand BDO’s advisory. The title of this article is simply begging to be a click bait.

“Send Money” is a remittance service. It is normal for it to have service fees because it _may_ involve another bank/financial institution. Why BDO didn’t do itbefore is beyond me. It’s different from “funds transfer” service which is totally internal.

In addition, BDO only mentioned that the fee applies to ‘Send Money’ transactions to all BDO accounts/Paycode. This simply means you are sending cash to a beneficiary via BDO remittance centers or partners.

The first paragraph of BDO’s statement (about the limit) is in not related to the fees being applied to ‘Send Money’. It just so happen that BDO increased the limits of two services and at the same time announced the fee for Send Money. This, to me, is their mistake. They didn’t think of people who are quick to jump into conclusions.

Louise · 9 years ago

“”Starting March 15, 2017, a fee of Php10.00 will be charged on all Send Money to Any BDO Account./.. Send Money to a Paycode transactions. You may still enjoy these transactions free of charge until March 14, 2017.

Read that sir, two things

Philippe · 9 years ago

Advisory on Send Money:
BDO Online and Mobile Banking customers can Send Money to any unenrolled BDO account faster and easier. Sending money can also be done to another Online Banking user without knowing the account number and just simply use the email address or mobile number as a Paycode to start.
The Bank designed this option to give its customers a new level of online banking experience—that instead of going out, sending money can be done via electronic devices such as laptops, smartphones or tablets, allowing the recipient to get the money immediately.
Customers may enjoy Send Money to any unenrolled BDO account and Send Money to a Paycode for free until March 14, 2017, after which a minimal fee of P10 per transaction will be charged. Daily limits for these transactions will be increased from P10,000 to P50,000.
Meanwhile, Fund Transfer to enrolled BDO accounts will remain free of charge. To enroll your own or another person’s BDO account for Fund Transfer transactions, log in to Online Banking, add the account number details, and activate the enrollment via the ATM.

Philippe Andres · 9 years ago

mali po kau siguro nang interpretation ung transfer to anyone ang may charge at di ung transfer to own accounts. Pls verify po muna sa Bdo at kung titignan mo sa Menu ay may item dun na wala naman sila sinabi na may bayad ang transfer to own. un lang send to anyone ung may bayd at send money to a paycode

xxx · 9 years ago

“Advisory on Send Money:
BDO Online and Mobile Banking customers can Send Money to any unenrolled BDO account faster and easier. Sending money can also be done to another Online Banking user without knowing the account number and just simply use the email address or mobile number as a Paycode to start.
The Bank designed this option to give its customers a new level of online banking experience—that instead of going out, sending money can be done via electronic devices such as laptops, smartphones or tablets, allowing the recipient to get the money immediately.
Customers may enjoy Send Money to any unenrolled BDO account and Send Money to a Paycode for free until March 14, 2017, after which a minimal fee of P10 per transaction will be charged. Daily limits for these transactions will be increased from P10,000 to P50,000.
Meanwhile, Fund Transfer to enrolled BDO accounts will remain free of charge. To enroll your own or another person’s BDO account for Fund Transfer transactions, log in to Online Banking, add the account number details, and activate the enrollment via the ATM.”

Jaye Muller · 9 years ago

Within Europe even inter bank transfers are free. Ridiculous.

Jonathan barandilla · 9 years ago

Henry Sy. You are filthy rich! Isn’t that enough for you???

booboo · 9 years ago

Yugatech needs to clarify in the post that Send Money transactions are different from Fund Transfer transactions. Their text ‘BDO to BDO transfers’ in the image could mean two things for BDO account holders. The latter is free of charge, if the account is enrolled as 3rd party account. Click bait yung image, masyadong misleading.

Abe Olandres Editor-in-chief · 9 years ago

We quoted them in the story so there’s no ambiguity.

Michael Chang · 9 years ago

Abe, I think an update on the story that clarifies bank transfers to enrolled accounts won’t be charged should be added when this has been verified rather than allow the perception that ALL Bank transfers will be charged however “non-ambiguous” the headline is.

Nicholas · 9 years ago

What’s the point? Sending money electronically to enrolled BDO accounts and Transfer to “anyone” are just the same substantially. What’s the point of enrolling when you can already send to anyone, aside from seeing the recipients in a list? None. The article is perfectly fine. No need to kiss Henry Sy’s ass. This is a dick move by BDO. Period.

tonybac · 9 years ago

Mura pa nga yang sa BDO eh…sa Metrobank, PHP25 ang intrabank transfers kahit enrolled yung account…

MyNameIs · 9 years ago

“We are pleased to charge our clients with Php 10 fee for every Send Money to any BDO account transaction starting March 15, 2017.” Fix it for yah BDO. You’re welcome.

ooo · 9 years ago

pull out ko na lahat ng kayamanan ko sa bdo. wala wenta. buti pa bpi inter at intra branch transaction wala bayad, yun lang haba ng pila

Alvin Laude · 9 years ago

Deposit to a BDO account outside metro manila will charge you P50 and this? WTF! Buti pa BPI walang mga ganitong scam.

Kenneth · 9 years ago

Before people freak out, this is only if you transfer via internet BDO ONLINE and Mobile banking. NOT branch to branch local transfers when you’re physically at the bank.

BPI pa rin · 9 years ago

Kaya ayaw ko ang BDO, gahaman. Ang hirap pa ng pila, nakatayo forever pag may transaction ka, sana may lalagyan nalang ng sapatos o tisenelas para ipila.

Unlike BPI may queuing machine mas mabilis ang transaction.

Vincent Santos · 9 years ago

This commences the downfall of BDO. I will transfer all my funds and even advise my business partners to switch to other banks. A very dissappointing decision for BDO. Goodluck

pasikat ba · 9 years ago

bakit di mo na lang gawin? ba’t ippost mo pa?

Kaye · 9 years ago

The reason people are doing mobile/online banking is because it’s more convenient, eapecially to avoid the long lines inside the branch. Charging of php10 might actually increase the foot traffic or divert more customers to the branch, therefore longer line.

Pawnshops offering pera-padala ang peg???

dakilangduca · 9 years ago

Jusko.. nalulugi ba sila? Why do they have to charge for same bank transfer? Whats the acceptable and reasonable purpose for this? Hindi nga sila makapag provide ng electronic queue sa mga banks nila eh. Kawawang BDO customers. #BPIparin

Arthur Tan · 9 years ago

BDO, finding ways… TO STEAL YOUR MONEY LEGALLY!

nene Escalona · 9 years ago

UCPB charges 100 for transfers to other provinces even to a UCPB branch

jarrold · 9 years ago

they find ways!

Jay · 9 years ago

Meanwhile sa BPI, kahit magtransfer ka ng 20,000PHP sa BPI EOL eh walang bayad…

Vincentian · 9 years ago

This is greed! I mean, that’s the reason why we open multiple bank accounts at the same bank to reduce charges. After introducing this fee, I think many people will switch to the other banks in the Philippines.
What in the world are the people in BDO thinking? They’re quite profitable already and they wanted more!?

PJ · 9 years ago

“We find ways”!

Loadex · 9 years ago

Kung kaya… transfer to BPI. Free naman siya dati pa. Unless gayahin niya si BDO.
Ginagaya kase nila ay mga SmartMoney and Gcash plus Western Union… may charges ang padala.
Kaya BDO find ways to copy them????

brian · 9 years ago

There’s a couple of ways to send money to another account (I’m mostly using their mobile app, web might be different)
– (i) Fund Transfers: (a) to Own; and (b) Another Person
– (ii) Send Money: (a) To any BDO Account; (b) To a Paycode; (c) others including pickup at branch, door-to-door, etc.

From the wording of their release, it only covers ii a and ii b?

Cheena · 9 years ago

Nope. I think this is for send money to unenrolled accounts only.

“Transfer funds” to enrolled accounts are still free.

Abe Olandres Editor-in-chief · 9 years ago

Yes you are right.

drew · 9 years ago

Sir, does fund transfer to enrolled BDO accounts considered as send money to any BDO accounts?

Ms. G · 9 years ago

This is so disappointing!!!

eng ot · 9 years ago

BDO slogan – we find ways

Onin · 9 years ago

Grabe nman they find way para kumita cla haha

Rolly · 9 years ago

I think this is only applicable to the ff transactions:
Send Money to Any BDO Account and Send Money to a Paycode.
But, if the account is already enrolled, where Transfer Fund option is available, I think its still free.
Kindly clarify, Sir?

Ann · 9 years ago

I checked this with BDO and they confirmed transfers are still free to an enrolled account. “Transfer funds” are still free. “Send money” will have charges.