Are you looking to transfer money from BDO to a CIMB bank account in the Philippines? Well, you have come to the right place. This comprehensive guide will help you understand the different methods available to transfer money from BDO to CIMB, and the steps involved in each method. Whether you want to transfer money for personal or business reasons, this guide will help you do it quickly and efficiently.
BDO and CIMB are two popular banks in the Philippines and Malaysia, respectively. If you have accounts in both banks and you want to transfer money from your BDO account to your CIMB account, there are several options available to you. In this article, we will outline the steps to transfer money via BDO to CIMB.
Steps To Transfer Money From BDO To Cimb
Option 1: BDO Online Banking
BDO has an online banking platform that allows you to transfer money to other local and international banks, including CIMB. Here are the steps to transfer money via BDO online banking:
Log in to your BDO online banking account.
Select the “Transfer” option.
Choose “Other Banks” as the transfer destination.
Enter the recipient’s name, CIMB bank account number, and the amount you want to transfer.
Review and confirm the details of the transfer.
Enter your BDO online banking password to complete the transfer.
Option 2: BDO Mobile Banking
BDO also has a mobile banking app that allows you to transfer money to other local and international banks, including CIMB. Here are the steps to transfer money via BDO mobile banking:
Log in to your BDO mobile banking app.
Select the “Transfer” option.
Choose “Other Banks” as the transfer destination.
Enter the recipient’s name, CIMB bank account number, and the amount you want to transfer.
Review and confirm the details of the transfer.
Enter your BDO mobile banking password to complete the transfer.
Option 3: BDO Over-the-Counter Transfer
If you prefer to transfer money in person, you can also visit a BDO branch and request an over-the-counter transfer to CIMB. Here are the steps to transfer money via BDO over the counter:
Visit a BDO branch.
Inform the bank teller that you want to initiate an over-the-counter transfer to CIMB.
Provide the recipient’s name, CIMB bank account number, and the amount you want to transfer.
Pay the transfer fee.
Wait for the transfer to be completed.
Considerations When Transferring Money via BDO to CIMB
Transfer fees: Transferring money via BDO to CIMB may incur transfer fees. Be sure to check with BDO to understand the fees that apply.
Transfer time: The time it takes to transfer money from BDO to CIMB may vary, depending on several factors such as the time of day the transfer was initiated and the volume of transactions being processed by both BDO and CIMB.
Accuracy of information: It is important to double-check the recipient’s details before initiating a transfer to avoid any errors. Make sure to verify the recipient’s name, account number, and bank name before transferring money.
Frequently Asked Questions
How long does it take for the money to be transferred from BDO to CIMB?
The time it takes for the money to be transferred from BDO to CIMB depends on the method you choose. Online and mobile banking transfers are usually instant, while ATM and over-the-counter transfers may take 1-2 business days.
Is there a transfer fee for transferring money from BDO to CIMB?
Yes, there is a transfer fee for transferring money from BDO to CIMB. The fee amount may vary depending on the method you choose and the amount of money you are transferring. You can check the transfer fee with your BDO bank representative.
Can I transfer money from BDO to CIMB if I am a CIMB account holder?
No, you cannot transfer money from BDO to CIMB if you are a CIMB account holder. You will need to have a BDO account to complete the transfer.
Is it possible to transfer money from BDO to CIMB if the recipient’s account is in a different CIMB branch?
Yes, it is possible to transfer money from BDO to CIMB even if the recipient’s account is in a different CIMB branch. You just need to provide the correct account number and the name of the recipient.
Conclusion
Transferring money from BDO to CIMB is a simple process that can be done via BDO online banking, BDO mobile banking, or BDO over-the-counter transfer. By following the steps outlined in this article and being mindful of transfer fees, transfer time, and accuracy of the information, you can easily transfer money from BDO to CIMB.
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