Searching for a way to send money from your BDO account to other local banks and e-wallets with no fees? There is a workaround available to do this and let’s find out how to do it in this article.
There are few things you need to have to do this option: (1) your BDO Debit Card, (2) a ShopeePay account/SeaBank account, and (3) online access to your BDO account.
You must keep the details of your BDO Debit card ready: 16-digit card number, expiry date, name on the card and the 3-digit CVV. Next, you should have an activated ShopeePay account in your Shopee app or a SeaBank account. And, just in case you need to change the transaction limit of your BDO Debit Card, you should have an online access to your BDO account either via the BDO Digital Banking app or BDO Online website
If you have all details above, you are now ready to transfer funds from your BDO account to any local banks and e-wallets FREE OF CHARGE.
1. Link BDO Debit Card to ShopeePay account
As BDO users, you already know that if you transfer directly from BDO Pay or BDO Digital Banking app, there is a transfer fee of P10 and P25, respectively. To avoid this fee, you can link your BDO Debit Card to your ShopeePay account. And here are the steps to do this:
- In your Shopee app, go to ShopeePay menu and select Cash-in icon.
- From the list of cash-in options, choose Debit Card and tap Add New Debit Card.
- Enter the details of your BDO Debit Card and press Submit button to continue. As declared by Shopee, your card details are protected and they do not have any access to your card info.
- 16-Digit Card Number
- Expiry Date in MM/YY format
- CVV – the 3 digit number at the back of the card
- Name on Card – enter the exact name written in your Debit Card
- As an additional security, an OTP will be sent to your BDO registered mobile number. Enter the received OTP in the space provided and tap SUBMIT button.
- A notification will be displayed showing the card has been added successfully.
2. Cash-in from Linked BDO Debit Card
Now that your BDO Debit Card is available as a cash-in option, fund transfer from your BDO account to your ShopeePay account will be free of charge using the linked card. See the steps below:
- Under the Debit Card Cash-in option, select the BDO Debit Card you just added, and tap the CONFIRM button.
- Select the amount you want to transfer or input the amount in the space provided. The maximum amount per transfer is P50,000. (Before sending a bigger amount, you need to check your BDO transaction limit first via BDO app or BDO website, click here to check and change the transaction limit). And, press Pay Now button.
- Confirm the details of the transaction and click Pay button to continue.
- Enter the 6-digit OTP code that was sent to your BDO registered mobile number and tap the SUBMIT button.
- A pop message will appear showing that the payment transaction is successful.
- Transaction details will be displayed and you will notice that the Admin Fee or transfer fee is P0.00.
Related Topic | How to change transaction limit of your BDO Debit Card
3. Transfer money to other Local Banks and E-Wallets
A. via ShopeePay
After the successful cash-in from your BDO Debit Card, the amount will be added in your ShopeePay wallet. With that, you will now be able to send money to other local banks and e-wallets with no additional fee. As of January 2023, you can still send money from your ShopeePay account to other e-wallets and local banks for free for the 1st transfer every month. Succeeding transfer will have an additional transfer fee of P15.
- In the ShopeePay menu, tap Send Money icon.
- Select the option for the fund transfer: if you want to send it to a Bank Account, E-Wallet, or via QR. For this guide, Bank Account has been selected.
- Click Add New Bank Account button.
- You can now add details of your bank account and tap the NEXT button.
- Bank Name – select the receiver’s bank name from the bank list
- Account Number – input the receiver’s bank account number
- Full Name in your Bank Account – Full Name of Receiver’s Bank Account
- Enter the amount to be transferred and press Next button.
- Review the details you have entered and tap Send Money Now to process the transaction.
- Enter your 6-digit ShopeePay PIN.
- Bank transfer details will be displayed once the transaction is successful.
B. via SeaBank
Since ShopeePay has only one free transfer per month, you can still send money to other banks and e-wallets for free if you have a SeaBank account. As of January 2023, SeaBank offers free fund transfer. Fund transfer between ShopeePay and SeaBank is also free. To know more about SeaBank, you can read this guide. And here the steps to transfer fund:
- In the Sea-Bank main dashboard, tap Pay/Transfer icon.
- Select the option for the fund transfer: if you want to send it to other SeaBank Account, Other Bank Account or E-Wallet. For this guide, Other Bank has been selected.
- From the list, select the name of the receiver’s bank.
- Enter the Receiver’s Account Number.
- Then, input the Receiver’s Account Name.
- Enter the amount to be transferred and press Next button. You will notice that the Transfer Fee is FREE.
- Review the details you have entered and tap Confirm to process the transaction.
- Enter your SeaBank password to complete the process.
- Bank transfer details will be displayed once the transaction is successful.
Success! You able to transfer money from your BDO account to other local banks or e-wallets without a service charge. As a recap, here are the steps again:
- Link your BDO Debit Card to your ShopeePay account
- Cash-in to your ShopeePay account via the linked-BDO Debit Card
- Use the Send Money option in ShopeePay to transfer funds to local banks and other e-wallets (Free for 1st transfer every month)
- Use the Transfer option in SeaBank to send money to other banks and e-wallets (Free transfer for all transactions)
Keypoints and Takeaways
Online banking and fund transfer have been of great help these days, since you are not required to go a physical branch anymore just to withdraw money or transfer money to other accounts. However, using online transaction, banks are now implementing additional fees, ranging from P8-25 per transaction. With this, you will think if there is still a way to transfer funds for free. And you just read that there is a workaround for it.
You may be worried that your Debit Card details will be exposed online, as declared by Shopee, your bank details are protected and they do not have access to it. And as additional security, an OTP and PIN are required to complete the process. As long as your registered mobile number is with you, it is safe to do this option.
Aside from BDO Debit Card, you can use debit cards issued by other banks. Just link the card to your ShopeePay account and cash-in using that option. And once you have funds in your Shopee wallet, you can transfer it to other banks and e-wallet without any additional fees for 1st transfer per month. And use your SeaBank account to transfer more fund for free.
Photo Credit: Mockup by freepik.com