Interbank Fund Transfer or Bank to Bank Transfer ONLINE


Is Bank to Bank Transfer or Interbank Fund Transfer possible in the Philippines? Or is it possible to transfer money from one local bank to a different local bank ONLINE?

Yes.  But not with all banks.

Here are 3 ways:

1. Online Wire Transfer from BDO to Another Local Bank

As far as I know, it's only BDO that allows online wire transfer, but it's only offered to owners of BDO US dollar accounts.

With the other banks, peso account holders can make wire transfers, but they need to go to the branch.

For BDO, the local wire transfer cost is US$10.

2.  Union Bank EON Visa Debit Card

From this debit card, you can transfer money online to accounts in other local banks, without pre-enrollment of recipient accounts.

You just need these: Name of Other Bank, Name of Account Owner, and Account Number

Online fund transfer from this debit card to an account in another bank is 10 pesos. There might also be banks that charge inward transfer fees.

This debit card has no maintaining balance requirement, but it charges 350 pesos per year as annual fee.

3. BancnetOnline.Com

You can transfer money online from one bank to another bank within the BANCNET network.

(Note: As of Dec 19, 2014, interbank transfer is temporarily not available. Check from time to time)

Some require pre-enrollment of source and recipient accounts; other do not.  The interbank fund transfer fee is 25 pesos.

List of Banks that Accept Interbank Fund Transfers through

Allied Bank
Allied Savings Bank
Asia United Bank

Bank of Commerce

China Bank
China Bank Savings
Chinatrust Bank
CitiBank Savings Bank
City State Bank

East West Bank
Equicom Savings Bank

Hongkong and Shanghai Bank Corp.
HSBC Savings

Malayan Bank
Maybank World Partners Bank

Philippine Business Bank
Philippine National Bank
Philtrust Bank
Producers Bank

RCBC Savings Bank
Real Bank
Robinsons Bank

Security Bank
Standard Chartered Bank
Sterling Bank of Asia

Tong Yang Bank


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