Send money with zero fee from East West and KOMO account to other banks and e-wallets?

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Want a zero fee fund transfer from your East West Bank or KOMO account to any local banks and e-wallets accounts? Yes, there is a way to transfer money from your East West or KOMO account without paying additional fees. Check this article to know the workaround available to send money for free.

For all East West Bank and KOMO users, you just need to have your debit card details at hand and a ShopeePay account to get started. It is also good to have an online access to your account to check the account balance before sending money.

For the debit card, here are the details required for linking your account: the 16-digit card number, card expiry date, name on the card and the 3-digit CVV found at the back of the card. And this card will be link to your Shopee account, so make sure you have an activated ShopeePay account.

For KOMO users, who do not have a physical debit card, you can still access your Debit Card details via the KOMO app. Just tap the Cards icon on the main menu and it will show the details of your debit card.

Add Komo or East West Debit Card to ShopeePay

Once you have all the details stated above, you can now transfer from your debit card to other local banks and e-wallets with no additional fee.

  1. Link East West Bank or KOMO Debit Card to your ShopeePay account
  2. Cash-in from the Linked Debit Card
  3. Transfer money to other Local Banks and E-Wallets
    1. via ShopeePay
    2. via SeaBank

1. Link Debit Card to ShopeePay account

If you transfer money from East West Bank account or a KOMO account via InstaPay, an additional charge will be included for every fund transfer. To avoid these charges, you can link your Debit Card to your ShopeePay account. Here are the steps to do it:

  1. In your Shopee app, go to ShopeePay menu and select Cash-in icon.
  2. From the list of cash-in options, choose Debit Card and tap Add New Debit Card.
  3. Enter the details of your East West or KOMO 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.
    1. 16-Digit Card Number
    2. Expiry Date in MM/YY format
    3. CVV – the 3 digit number at the back of the card
    4. Name on Card – enter the exact name written in your Debit Card
  4. As an additional security, an OTP will be sent to your registered mobile number. Enter the received OTP in the space provided and tap SUBMIT button. Please note that a PhP 1 will be deducted to your account as a fee for linking your card.
  5. A notification will be displayed showing the card has been added successfully.
1. ShopeePay Menu
2, Add Debit Card to ShopeePay
3. Add Debit Card to ShopeePay
2 Add Komo or East West Debit Card to ShopeePay
3. Add Komo or East West Debit Card to ShopeePay
5. Add Debit Card to ShopeePay

2. Cash-in from Linked Debit Card

After you successfully link your debit card, your Debit Card is now available as a Cash-In option in your ShopeePay account. Select that card and follow the next steps to fund your Shopee account.

  1. Under the Debit Card Cash-in option, select the East West Banking Corporation Debit Card you just added, and tap the CONFIRM button.
  2. Select the amount you want to transfer or input the amount in the space provided. The maximum amount per transfer is P50,000. And, press Pay Now button. 
  3. Confirm the details of the transaction and click Pay button to continue.
  4. Enter the OTP code that was sent to your registered mobile number and tap the OK button.
  5. A pop message will appear showing that the payment transaction is successful.
  6. Transaction details will be displayed and you will notice that the Admin Fee or transfer fee is P0.00. 
4. Add Komo or East West Debit Card to ShopeePay
Add Debit Card to ShopeePay
8. Add Debit Card to ShopeePay
6. Add Komo or East West Debit Card to ShopeePay
7. Add Komo or East West Debit Card to ShopeePay
10. Add Debit Card to ShopeePay
11. Add Debit Card to ShopeePay

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3. Transfer money to other Local Banks and E-Wallets

A. via ShopeePay

Once you cash-in the amount to your Shopee wallet, you will now be able to send money to other local banks and e-wallets with no additional fee. As of Feruary 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. 

  1. In the ShopeePay menu, tap Send Money icon.
  2. 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. 
  3. Click Add New Bank Account button.
  4. You can now add details of your bank account and tap the NEXT button.
    1. Bank Name – select the receiver’s bank name from the bank list 
    2. Account Number – input the receiver’s bank account number
    3. Full Name in your Bank Account – Full Name of Receiver’s Bank Account
  5. Enter the amount to be transferred and press Next button.
  6. Review the details you have entered and tap Send Money Now to process the transaction.
  7. Enter your 6-digit ShopeePay PIN.
  8. Bank transfer details will be displayed once the transaction is successful.
1. ShopeePay Send Money
2. ShopeePay to other Bank
3. ShopeePay to other Bank
4. ShopeePay to other Bank
5. ShopeePay to other Bank
6. ShopeePay to other Bank
7. ShopeePay to other Bank
8. ShopeePay to other Bank

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:

  1. In the Sea Bank main dashboard, tap Pay/Transfer icon.
  2. 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. 
  3. From the list, select the name of the receiver’s bank.
  4. Enter the Receiver’s Account Number.
  5. Then, input the Receiver’s Account Name.
  6. Enter the amount to be transferred and press Next button. You will notice that the Transfer Fee is FREE.
  7. Review the details you have entered and tap Confirm to process the transaction.
  8. Enter your SeaBank password to complete the process.
  9. Bank transfer details will be displayed once the transaction is successful.
SeaBank Fund Transfer
2. SeaBank to Other Bank
3. SeaBank to Other Bank
4. SeaBank to Other Bank
5. SeaBank to Other Bank
6. SeaBank to Other Bank
7. SeaBank to Other Bank
8. SeaBank to Other Bank
9. SeaBank to Other Bank

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As a recap, here are the steps again:

  1. Link your East West or KOMO Debit Card to your ShopeePay account
  2. Cash-in to your ShopeePay account via the linked Debit Card
  3. Use the Send Money option in ShopeePay to transfer funds to local banks and other e-wallets  (Free for 1st transfer every month)
  4. 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 East West and KOMO Debit Card, you can also 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.

For more information about East West Bank and KOMO, you can visit their respective official websites, www.eastwestbanker.com and www.komo.ph.

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