Transfer-Funds-From-Metrobank-to-BDO-and-Other-Banks

How to Transfer Funds From Metrobank to BDO and Other Banks

by

Transferring funds from Metrobank to BDO and other banks in the Philippines is easy with several convenient and secure methods available today.

Whether you’re sending money to pay bills, support a loved one, or invest, understanding your options will empower you to choose the most efficient and cost-effective method.

Our article this time will discuss the various ways to transfer funds from Metrobank to BDO and other banks, guiding you to the best option for your needs.

Transfer Funds From Metrobank to BDO and Other Banks

Transfer Funds From Metrobank to BDO and Other Banks

Currently, you have four main options to transfer funds from Metrobank to BDO and other banks:

  • InstaPay: This real-time electronic funds transfer service allows instant fund transfers between participating banks, including BDO. It’s ideal for urgent payments and comes with a daily limit of PHP 50,000.
  • PESONet: Another real-time service, PESONet operates similar to InstaPay but offers a higher daily limit of PHP 200,000. However, it has a cut-off time of 3:00 PM on weekdays and is unavailable on weekends.
  • Online Banking/Mobile App: Both Metrobank and BDO, along with other banks, offer online banking and mobile app platforms where you can transfer funds directly between accounts. These platforms offer convenience and often come with features like transaction history and budgeting tools.
  • Over-the-Counter Transaction: You can visit any Metrobank branch and perform a bank transfer to another bank, including BDO. While less convenient, this option can be helpful if you lack internet access or require assistance from a bank representative.

Steps for Transfer Funds From Metrobank to BDO and Other Banks

1. InstaPay:

  • Metrobank Online: Log in to Metrobank Online, choose “Send Money,” select “InstaPay,” enter recipient details, amount, and source account, review, and confirm.
  • Metrobank Mobile App: Open the app, tap “Send Money,” choose “InstaPay,” enter recipient details, amount, and source account, review, and confirm.
  • Over-the-Counter: Visit a Metrobank branch, inform the teller you want to do an InstaPay transfer, provide recipient details, amount, and source account.

2. PESONet:

  • Metrobank Online: Follow similar steps as InstaPay, but choose “PESONet” instead.
  • Metrobank Mobile App: Follow similar steps as InstaPay, but choose “PESONet” instead.
  • Over-the-Counter: Inform the teller you want to do a PESONet transfer, provide recipient details, amount, and source account.

3. Online Banking/Mobile App:

  • Metrobank: Log in to Metrobank Online or open the Metrobank Mobile App.
  • BDO: Log in to BDO Online Banking or open the BDO Mobile Banking app.
    • Navigate to the “Transfer Funds” or “Payments” section.
    • Select “Interbank Transfer” or similar option.
    • Enter recipient details, including bank name, account number, and account name.
    • Enter the amount and choose the source account.
    • Review all information, enter your security details, and confirm the transfer.

4. Over-the-Counter Transaction:

  1. Visit any Metrobank branch.
  2. Fill out a bank transfer form with recipient details, bank name, account number, and account name.
  3. Specify the amount you want to transfer and choose the source account.
  4. Submit the form along with any required fees to the teller.

Guide With Pictures

Below we have included a guide with pictures to make it easier for you to understand.

A. Transfer Funds Using the Metrobank Mobile App

1. Open the Metrobank Mobile Application

Klik Metrobank Mobile App

2. Login to Metrobank Mobile App

Login Metrobank Mobile App

3. Activate OTP Generator (Can be activated now or later)

Activate OTP Generator

4. Click My Accounts

Home page Metrobank Mobile App

5. Click Transfer to Other Bank

Transfer to Other Bank

6. Choose instaPay or PESONet (For this guide, I choose instaPay)

instaPay or PESONet

7. Click Transfer

8. Complete the sender’s data and you can also activate the “Save this beneficiary” feature to automate sending to the same account number in the future.

Complete the sender's data

9. Please select the source account for your funds transfer

Select the source account for your funds transfer

10. Select the amount of money to send

Select amount

11. Please ensure all information is correct and klik Submit

Please ensure all information is correct

12. Enter the OTP code that has been sent to your cellphone number

Enter the OTP code

13. Check the reference number and then click Ok

Reference Number

14. The transfer process has been completed, please check the balance of the destination number to ensure the money has been sent

B. Transfer Funds Using the Metrobank Online Banking

1. Sign in/Login to your Metrobank online banking account

2. Once you have successfully logged in, click on the “Send Money” shortcut on the dashboard

Transfer Funds Using the Metrobank Online Banking 2

3. Then, enter and complete the data information for sending money

Transfer Funds Using the Metrobank Online Banking 3

4. Review the transaction details to ensure all information is correct, then click “Continue” to proceed with the money transfer transaction

Transfer Funds Using the Metrobank Online Banking 4

5. Please enter your 6 digit Metrobank password code. If you have forgotten your passcode, call (02) 88-700-700 or 1-800-1888-5775 to reset your passcode

Transfer Funds Using the Metrobank Online Banking 5

6. Your Metrobank money transfer to another bank is now being processed. It usually takes less than a minute for the transaction to complete and the money to go into your recipient’s account

Transfer Funds Using the Metrobank Online Banking 6

Additional Considerations

  • Processing time: InstaPay and PESONet are real-time, while online banking/mobile app transfers might take up to a business day. Over-the-counter transactions are usually processed within the same day.
  • Fees: Each method incurs different fees. InstaPay and PESONet have fixed fees, while online banking/mobile app transfers might have service charges or per-transaction fees. Over-the-counter transactions typically have the highest fees.
  • Transaction limits: Check the daily and per-transaction limits for each method. InstaPay has a lower limit than PESONet, while online banking/mobile app and over-the-counter transactions might have varying limits depending on your account type and bank policies.
  • Convenience: Online banking/mobile app and InstaPay offer the most convenience, while over-the-counter transactions require physical branch visits.

Choosing the Best Method

  • Urgency: If you need the funds to arrive instantly, choose InstaPay.
  • Amount: For large transfers, PESONet offers a higher daily limit.
  • Convenience: Online banking/mobile app and InstaPay are most convenient.
  • Cost: Consider the fees associated with each method to minimize expenses. InstaPay and PESONet have fixed fees, while online banking/mobile app transfers might have service charges or per-transaction fees, and over-the-counter transactions typically have the highest fees. Compare the fees charged by your bank and the receiving bank for each method to make an informed decision.
  • Security: All methods mentioned are secure, but be cautious when sharing account information online. Always ensure you’re on the official bank website or app when initiating online transfers.
  • Personal preference: Consider your comfort level and preferred mode of interaction. If you prefer online transactions, choose online banking/mobile app or InstaPay. If you value personal interaction, over-the-counter transactions might be your choice.

Additional Tips

  • Always double-check recipient details before confirming any transfer.
  • Ensure sufficient funds are available in your source account to cover the transfer amount and any applicable fees.
  • Save recipient details as “pay beneficiaries” for future convenience in online banking or mobile app transfers.
  • Keep transaction receipts for your records.