BDO to charge P10-fee on fund transfers to unenrolled accounts

BDO to charge P10-fee on fund transfers to unenrolled accounts

The service charge will be effective March 15, 2017


MANILA, Philippines – BDO Unibank Incorporated will impose a P10-service charge on online and mobile banking fund transfers to unenrolled BDO accounts beginning mid-March.

BDO said in an advisory on Tuesday, January 3, that this will be effective March 15, 2017.

“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,” BDO said.

Fund transfers to enrolled accounts will not be subject to fees.

“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,” the advisory said.

According to BDO’s website, users can “enroll up to 20 accounts belonging to another person or third party accounts.” BDO added users can enroll their own or another person’s BDO account for fund transfer transactions by logging in to online banking, adding the account number details, and activating the enrollment via the ATM.

The daily limit for these fund transfers will also be increased to P50,000 from P10,000. –