The era is very advanced, there are many conveniences everywhere including matters of sending money. In the Philippines, people are starting to leave the old way of sending money via counters or at bank offices. They prefer to use the modern way, namely online.
For BDO customers, they are currently busy doing various financial transactions via BDO Online Banking. For example, for sending money, they can use the website or application.
Now, for those of you who may be new to this, here we have written a guide on how to send money from BDO to Coins.ph that is easy to follow.
How to Send Money from BDO to Coins.ph
To send money from BDO to Coins.ph can be done in three ways, namely via the BDO Online Banking website, via the BDO Online application and the BDO Pay application.
1. Using the BDO Online Banking Website
Below are easy steps on how to send money from BDO to Coins.ph using the BDO Online Banking website (for personal accounts):
- Access your BDO Online account via the website (https://www.bdo.com.ph/personal/digital/bdo-online)
- Enter your BDO Online Banking username and password to log in to your account.
- Look for the “Send Money” in the main menu or dashboard. Click on it.
- Choose the type of Send Money transaction. Select “To Other Banks and Wallets” via InstaPay.
- Choose “DCPay Philippines Inc. (Coins.ph)” via InstaPay.
- Enter Account Details:
- In the “Account Number” or similar field, enter your Coins.ph registered mobile number.
- Enter the amount you wish to cash in from your BDO account.
- Confirm transactions via biometrics or 6-digit PIN for the app, or via OTP sent to your registered mobile number for website.
2. Send Money from BDO to Coins.ph Using BDO Online App
Follow the easy steps below for a guide on how to send money from BDO to Coins.ph using the BDO Online app:
- Open the BDO App.
- Tap Send Money on the home screen. For QR transactions, tap or select QR.
- Choose the type of Send Money transaction. Select “To Other Banks and Wallets” via InstaPay.
- Under “Other Banks and E-wallets,” select DCPay Philippines Inc. (Coins.ph).
- Enter your Coins.ph account number and the amount you want to cash in. Tap Send.
- Confirm the transaction details. Confirm transactions via biometrics or 6-digit PIN for the app.
3. Send Money from BDO to Coins.ph Using BDO Pay App
Here are the steps on how to send money from BDO to Coins.ph using the BDO Pay app:
- Launch the BDO Pay app on your mobile device and log in.
- Tap the Send Money icon on the dashboard or tap the Pay & Request menu.
- Choose the type of Send Money transaction. Select “To Other Bank or Wallet” via InstaPay.
- From the list of banks and e-wallets, find and choose “DCPay Philippines Inc. (Coins.ph).
- Enter Recipient Details:
- In the “Account Number” or similar field, enter your Coins.ph registered mobile number.
- Enter the amount you wish to transfer to your Coins.ph account.
- Choose the BDO account (if you have multiple linked) from which you want to send the funds.
- Review the details, confirm, and authorize using your PIN or biometrics.
Limits and Fees for Sending Money to Coins.ph via InstaPay
Here are the typical limits and fees associated with sending money to other local banks and wallets via InstaPay, specifically focusing on BDO and how it relates to cashing in to Coins.ph:
BDO (as of recent information):
- Transaction Fee: PHP 10 per transaction. This fee is generally applied when sending money from your BDO account (via the Online Banking website or BDO Pay app) to other banks and e-wallets like Coins.ph via InstaPay.
- Daily Transaction Limit: PHP 50,000. This is the maximum total amount you can send to other banks and wallets via InstaPay within a single day.
- Minimum Transaction Amount: PHP 100. You typically cannot send an amount less than PHP 100 via InstaPay from BDO.
- Real-time Crediting: Funds transferred via InstaPay are generally credited to the recipient’s account in real-time.
Coins.ph (Receiving via InstaPay):
- Transaction Fee: Coins.ph typically does not charge a fee for receiving funds via InstaPay. The PHP 10 fee is usually charged by the sending bank (in this case, BDO).
- Transaction Limit: The standard InstaPay limit of PHP 50,000 per transaction generally applies to funds received in Coins.ph via InstaPay.
- Daily Transaction Limit: Coins.ph has its own set of daily, monthly, and annual transaction limits for cash-ins, which can vary depending on your account’s verification level (ID and selfie verified). For fully verified users, the daily cash-in limit via various methods, including InstaPay, can be significantly higher (up to PHP 1,000,000 as of recent updates). However, individual InstaPay transactions will still be capped at PHP 50,000.
- Real-time Crediting: Funds sent via InstaPay should reflect in your Coins.ph wallet almost instantly.
In summary, when cashing in from BDO to Coins.ph via InstaPay:
- BDO will likely charge you a fee of PHP 10 per transaction.
- You can send up to PHP 50,000 per transaction.
- The funds should arrive in your Coins.ph wallet in real-time.
- Your Coins.ph account’s overall daily cash-in limit might be higher if you are fully verified, allowing for multiple InstaPay transactions within a day, as long as each transaction does not exceed PHP 50,000 and the total does not exceed your Coins.ph daily limit.
It’s always a good practice to check the latest fee schedules and limits on both the BDO website/app and the Coins.ph app or website, as these can sometimes change.
So, that was the step-by-step guide on how to send money from BDO to Coins.ph that we can share with you.