7.09.2013

Transfer Money from Bank to Bank ONLINE -- Local Interbank Fund Transfer

By Nora
Updated Oct 13, 2015

Is Bank-to-Bank Money 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 4 ways:

1.  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 costs 10 pesos. There might also be banks that charge recipient or inward transfer fees.

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


2. 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 bancnetonline.com from time to time)

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

List of Banks that Accept Interbank Fund Transfers through bancnetonline.com:

Allied Bank
Allied Savings Bank
Asia United Bank

Bank of Commerce

China Bank
China Bank Savings
Chinatrust Bank
CitiBank
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
Metrobank

PBCom
Philippine Business Bank
Philippine National Bank
Philtrust Bank
Producers Bank
PSBank

RCBC
RCBC Savings Bank
Real Bank
Robinsons Bank

Security Bank
Standard Chartered Bank
Sterling Bank of Asia

Tong Yang Bank

3.  Send Money from Your BDO Account to an Account in Another Local Bank

     Choose the Send Money option in your BDO online banking account.
     Click "Send Money to Another Local Bank"
     You'll fill up a form.
      Enter details that include your recipient's name, account no., birth date, mobile no., address, gender, purpose of transaction.
      You'll choose from a list of banks.

       The charge is 100 pesos.  


4.   Online Wire Transfer from a BDO US Dollar Account to Another Local Bank

The local wire transfer cost is US$10.  The transfer process might take 2 to 3 days.

7 comments:

  1. BancnetOnline.Com is not available due to system enhancements. tsk

    ReplyDelete
  2. how can i reach you, please drop any contact if you don't mind thanks

    ReplyDelete
    Replies
    1. Hello, you can email me at workingpinoy.com@gmail.com

      Delete
  3. Cnat proceed with transfering fubds due to system update? Trying to transfer money from my bpi to securitybank

    ReplyDelete
  4. can you have a detailed information on how to transfer from BPI to another local bank account. I can do BPI to BPI transfer. but want to know if I can transfer money from BPI to my RCBC account.

    thanks.

    ReplyDelete
    Replies
    1. Hi Angelo, sad to say BPI is not yet offering this service, meaning we cannot yet transfer money online from a BPI account to an account in another bank.

      Delete