Sending money to loved ones in the Philippines often carries both emotional and financial importance. Whether you’re supporting family or helping with unexpected expenses, finding the safest and most efficient way to transfer funds is crucial. BDO (Banco de Oro), the largest bank in the Philippines, is a trusted partner for remittances. With over 1,500 branches nationwide, BDO ensures your recipients have plenty of convenient options to receive their funds.
Here’s a comprehensive guide on safely sending money to BDO in five simple steps.
Sending Money to BDO in 5 Easy Steps
1. Download the Remitly App and Create an Account
If it’s your first time using Remitly, start by downloading the app on your smartphone or visiting the website. Once installed, create a user account by entering your personal details. During sign-up, select the Philippines as your destination country.
Pro Tip: Have your ID and payment method ready to streamline this process. Remitly offers a secure and user-friendly experience for all new users.
2. Specify Transfer Details
Enter the amount of money you want to send and select the currency you wish it to be received in. For transfers to BDO, funds are typically exchanged into Philippine Pesos (PHP). If your recipient’s BDO account operates in US Dollars (USD), you can choose to send that currency as well.
Insight: Exchange rates fluctuate daily. To maximize the funds your recipient gets, compare the exchange rate displayed in the app with other services.
3. Choose Delivery Method and BDO
Remitly lets you pick your preferred delivery method. For BDO transfers, you can opt for either a bank deposit (direct to the recipient’s BDO account) or cash pickup at a BDO branch. Simply select “BDO” from the list of payout partners, ensuring accuracy.
Delivery options at BDO include:
- Instant bank deposits (for cash availability).
- Cash pickup at over 1,400 BDO branches across the Philippines.
Note: Ensure that your recipient’s account or branch details are entered correctly to avoid delays.
4. Provide Recipient Information
Once you’ve chosen BDO, input the recipient’s details. This includes their full name (as it appears on their valid ID), their address, and their BDO bank account number if applicable. Double-check for typos to prevent any issues with the transfer.
Quick Tip: For cash pickups, confirm which BDO branch is most convenient for your recipient.
5. Complete Payment and Send
Select your payment method, such as a debit card, credit card, or bank transfer. Once everything is set, review the details to ensure accuracy. With a simple click of the “Send” button, your money will be on its way to your loved ones in the Philippines.
Stay Updated: Enable SMS or email notifications to track your transfer every step of the way.
Why Use Remitly to Transfer Money to BDO?
1. Competitive Exchange Rates:
Remitly offers some of the best USD to PHP rates, maximizing the amount your loved ones receive. First-time users can also take advantage of promotional rates provided by Remitly on their initial transaction.
2. Fast & Flexible Transfers:
For urgent needs, Remitly allows you to send money instantly when using a credit or debit card. Non-urgent transfers through bank accounts typically take 3-5 business days and might come with lower fees.
3. 100% Satisfaction Guarantee:
If there’s an issue with your transfer, Rest assured that Remitly will either resolve it quickly or refund your money.
4. Security You Can Trust:
Remitly uses advanced security measures, including two-factor authentication and encryption, to safeguard every transaction.
FAQs About Sending Money to BDO
How long does it take to transfer money to BDO via Remitly?
It depends on the payment method. Transfers using a credit or debit card are typically instant or completed within minutes. Bank transfers, on the other hand, take 3-5 business days.
Are there limits on how much I can send to BDO?
Yes, send limits depend on the personal information you provide during registration. Completing account verification can increase your sending limits to accommodate larger amounts.
Is it safe to transfer money to BDO with Remitly?
Absolutely. Remitly safeguards your transactions through encryption, two-factor authentication, and fraud-detection systems. Additionally, you’ll receive notifications to monitor the status of your transfer.
What do I need to provide to send money to BDO?
You’ll need the recipient’s full name, the name of the BDO branch (for cash pickup), and either their account number (for direct deposits) or address.
Can I cancel a transaction?
Yes, as long as the transfer hasn’t been completed. Remitly allows you to cancel pending transactions directly from the app or website.
Why BDO is a Great Choice for Receivers
BDO isn’t just the largest bank in the Philippines; it’s also one of the most accessible. With its extensive branch and ATM network, your recipient can withdraw funds conveniently no matter where they live. Whether it’s in bustling Metro Manila or smaller provincial cities, they’ll have nearby access to their funds.
Additional Perks of BDO:
- Provides checking and savings account options for local and foreign currencies.
- Competitive exchange rates for USD and other currencies.
- Trusted institution with proven reliability over decades.
Where Else Can You Send Money in the Philippines?
While BDO is a trusted partner, Remitly also lets you send money to over 10,000 partners across the Philippines, including M Lhuillier, Cebuana Lhuillier, BPI, Metrobank, and even digital wallets like GCash.
Need Cash Pickup Locations Instead?
Cash is available for pickup at any participating branches or outlets, including SM Malls and Globe payment centers. Just enter your recipient’s preferred location during the transfer setup.
Ensuring the Safest Experience
When sending money, always verify recipient details, double-check amounts, and choose a trusted partner like Remitly. With its history of secure service and transparent pricing, you can rest assured that your funds are in good hands.