How to Send Money Through BDO Online to Another Local Bank

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COVID-19 has definitely brought many changes to how we do things. With people staying at home  and business establishments operating on limited capacity, we sure have to do things differently. While online banking is nothing new before COVID-19, it's quite a shock that there are some who still haven't embraced the convenience that online banking affords. One such convenience is not having to physically visit a branch just to send or deposit money. It is definitely useful especially now when mobility is very limited for people, like me, who do not have their own vehicle because of the suspension of public transportation. 
Sending money via online banking has remedied the problem of needing to go to a physical branch. With just a click of a few buttons, one can readily finish the transaction in minutes at the convenience of one's home. Wherever you are, for as long as you have internet connection, you won't have to experience the hassle of commuting to and from the bank and suffering through a long queue just to finish your transaction. 
Sending money via online banking is not only time-efficient but also quite easy to do. For this post, I'll share how to send money to another local bank via BDO's online banking feature.

Check out below for the quick rundown on how to send money to another local bank via BDO online. For illustration purposes, I'll be sending from a BDO account to a Metrobank account.
  • Log in to your BDO online account. Use the My Quick Links or go to the NAVIGATE menu like shown.
  • Click on Send Money from the NAVIGATE Menu. A drop-down menu will open, and from there, you can select the option To Another Local Bank, if this is your first-time transaction.
  • Check "Proceed without a template" and click Next.

In this case, I checked "Select from saved requests" as I have done this transaction previously. You can actually save a template of this transfer so that the next time you send money, you only have to select the saved template and you won't have to input details all over again.
  • After clicking Next, you will be directed to this page where you input the required details such as the Sender Details (Amount, Destination Bank, and Destination Account Number) and Receiver Details (Receiver Name, Mobile Number, and Purpose of Transaction). Under Destination Bank, a pop-up will appear listing the different local banks in the country. Select the bank you will be sending money to.

Once done, a Transaction Confirmation window will appear.
  • Check the details you have inputted, and if everything is correct, click Continue. Click Cancel if you need to make corrections on your entry.
  • Upon hitting Continue, the One-Time Password (OTP) window will appear.
  • Once you are in this step of the process, you will receive a Security-Alert text to your registered mobile number. As mentioned in the text, you have TWO minutes to reply SEND MONEY to the Security-Alert message.

I believe this is an added security feature applied by the bank recently. In my previous transactions, the OTP was sent directly to my mobile without the Security-Alert text. Once you reply to the Security-Alert text, you will then receive the six-digit OTP to your mobile. Input the received OTP within the next five minutes.
  • After inputting the OTP, a Confirmation Message window will pop telling you that you have successfully sent money via InstaPay through BDO.


And you're done. 

If you are the sigurista kind, you can check your registered email for confirmation as well. BDO will send you email of your successful transaction. You can forward this to your recipient informing them of your successful transfer.

The money you sent will be credited to your recipient bank real-time. For this transaction, no service fee was collected as the local bank I sent the money to is also an InstaPay-member bank. InstaPay service charge is waived until August 31, 2020. Since ECQ, I have not paid any fees. So am not sure how much the fee will be after August 31. 
For non-InstaPay bank, PhP100 will be charged against your account.

The money sent is really credited real-time as seen from this recipient bank's transaction history.

The whole transaction, without internet-speed problem, will not take ten minutes of your time. I hope this helps and will make you reconsider the use of online banking. Think about the time you can save from lining up. :)

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