With InstaPay, you can now transfer funds in real-time between accounts of participating BSP-supervised banks and non-bank e-money issuers in the Philippines. It is an electronic fund transfer (EFT) service where you can transfer money electronically and make the funds available to their recipient instantly.
To send money via InstaPay, customers need to access their bank’s or e-money issuer’s mobile app or internet banking facility, choose to send to another institution via InstaPay, and provide the required details.
For customers with BDO Online Banking account, below is the step-by-step guide on how to send money from your BDO Online account to any local bank with InstaPay.
1 Open the official BDO website, https://online.bdo.com.ph/. In the login menu, enter your User ID and Password. Then, click the Login button to open your account.
Note: For security reasons, do not give or provide your username and password to anyone.
For the complete login process, you can read this quick quide:
How to log-in to BDO Online Banking
2 After a successful login, in the left menu bar, select the Send Money tab, and click the To Another Local Bank button.
3 Select the Proceed without a template button and click the Next button for the next step.
4 To send a money request, you need to fill-up the Sender’s details as well as the Receiver’s details:
- Sender Details
- Settlement Type – Credit to Another Local Bank
- Transaction Type – Credit to Other bank
- Value Date – Date of transaction
- Transfer from – Select your BDO Account where you will deduct the amount
- Amount – Value of money to be sent
- Destination Bank – select the Receiver’s Bank
- Destination Account Number – Enter the Receiver’s Account Number
- Receiver Details
- Receiver Name – Last Name, First Name, Middle Initial
- Mobile Number
- Purpose of Transaction
- Save Template
- Tick the box to save the details of the transaction as a template for your future transaction
Review and make sure that you have entered the correct information. Then, click the Submit button to process the request.
5 The transaction summary will show with the total amount you will send plus the service charge. You can also verify the sender details and receiver details before you proceed. Then, click the Continue button.
Note: The amount you have entered plus the service fee will be deducted from the account you have selected and will be sent real-time via InstaPay. If the transaction is unsuccessful, BDO will credit back both the amount and the service fee within 1-2 banking days.
6 As an additional security of your online banking transaction, you need to enter the One-Time-Password or OTP generated using your registered device with BDO Mobile Banking. If you do not have the BDO mobile banking app, you can request OTP via SMS.
7 The detail summary of transaction will show that the money was sent successfully in real-time via InstaPay. A reference number is also generated for the transaction.
Ask the recipient if the amount has been received in the provided account.
To know more about InstaPay, here is the InstaPay Fact Sheet from Banko Sentral ng Pilipinas (BSP). For the list of participating banks and institutions, click here. And for the corresponding fees by using the InstaPay service, click this link.
*Note: Service Charge using Instapay has been waived during the ECQ or Lockdown period.
If we are sending money from bro online to another local bank, but the receiver is a corporation, say a condo. Corp. with an account to bpi, how to do it , their is no name but a corporation . No need to write a phone number too. Thanks.
Hi po Ma’am Lita, i haven’t tried transferring fund to a corporate account. Have you tried to check if your condo is included in the BDO list under Company/Biller? You can access that from the left side menu, select Enrollment – Company/Biller – Enroll. Then look for the name of your condo. From there you can enrol that account and transfer money.
If your condo is not on the Company/Biller list, I think it is better po to check first with your condo or maybe with your BDO branch before transferring money…
Hello. What if it’s for school payment?
Which school po?
Hi po, below are the list of schools that you can pay through BDO, https://www.bdo.com.ph/pay-your-tuition-fees-online-mobile-or-branch-near-you
For other option, you can also pay school fees via GCash, https://onlinequickguide.com/paying-for-school-fees-pay-it-online-with-gcash/