Having a mobile banking application on our smartphone will greatly help us in managing our daily finances. That is why BDO has released another application that is specifically used for online payment purposes from your smartphone.
BDO Pay App, a mobile banking application from BDO Unibank that is specifically designed to manage online payments is one of the applications that you must have.
You can download the BDO Pay application on the Google Play Store if you are using an Android device and on the Apple App Store if you are using an iPhone or iOS.
The Differences Between the BDO Digital Banking App, BDO Online App, and BDO Pay App
BDO has streamlined its mobile banking experience, and here’s a breakdown of the current apps:
- BDO Online: This is your primary mobile banking app. It’s the newer version of the old BDO Digital Banking app and is designed for managing your accounts, tracking finances, and performing transactions. Think of it as your all-in-one banking hub.
- BDO Pay: This app focuses on payments. You can link your BDO accounts and credit cards to make payments using features like Scan to Pay, Split Bill, Send & Receive Money, and Pay Bills. It’s your go-to for quick and easy transactions.
Key points:
- BDO Digital Banking: This is the old app and is no longer available. BDO has transitioned users to the newer BDO Online app.
- Password Differences: The BDO Online app and BDO Pay app share the same username and password. However, the BDO Online Banking website (online.bdo.com.ph) has a separate password.
Essentially, BDO Online is for comprehensive account management, while BDO Pay is specialized for making payments.
What is the BDO Pay Application?
BDO Pay is a mobile payment app offered by BDO Unibank in the Philippines. It allows BDO account holders to make various transactions using their smartphones. Think of it like a digital wallet linked to your BDO account. BDO Pay simplifies payments with features like sending and receiving money, paying bills, and using QR codes for transactions.
Here’s a summary of what BDO Pay generally offers:
- Fund Transfers: Send money to other BDO accounts and other banks via InstaPay and PESONet.
- Bill Payments: Pay various bills, such as utilities, credit cards, and loans.
- QR Code Payments: Pay merchants that accept BDO Pay QR codes.
- Buy Load: Purchase prepaid mobile phone load.
- Cardless Cash Withdrawal: Withdraw cash from BDO ATMs without needing your physical card.
- Request Money: Request payments from other BDO Pay users.
Advantages:
- Convenience: This is the biggest one. BDO Pay lets you handle many everyday financial tasks from your phone, anywhere with internet access. No more trips to the bank or ATM for basic transactions.
- Speed: Transfers to other BDO accounts are often instant, and even transfers to other banks via InstaPay are usually very quick. Bill payments are also generally faster than traditional methods.
- Accessibility: As long as you have a smartphone and an internet connection, you can access your funds and make transactions 24/7.
- Security: BDO Pay incorporates security features like encryption and transaction limits to protect your money. However, it’s crucial to practice good digital hygiene (strong passwords, not sharing your phone, etc.) to maximize this.
- Integration with BDO ecosystem: If you already use BDO services, BDO Pay integrates seamlessly with your accounts, credit cards, and even your BDO Rewards.
- Contactless payments: QR code payments are becoming more common, and BDO Pay allows you to pay at participating merchants without physical cards or cash.
- Additional features: Features like split bill and request money can be very helpful in specific situations.
Disadvantages:
- Internet dependency: You need a stable internet connection to use BDO Pay. This can be a problem in areas with poor connectivity or if you’re traveling.
- Smartphone dependency: Obviously, you need a smartphone to use the app. This excludes people who don’t own one or prefer not to use their phone for financial transactions.
- Security risks: While BDO Pay has security measures, any digital platform is vulnerable to hacking or phishing attempts. Again, your own security practices are crucial here.
- Technical issues: Like any app, BDO Pay can experience glitches, bugs, or downtime, which can disrupt your transactions.
- Learning curve: While generally user-friendly, some people may find it takes a little time to get used to the app’s interface and features.
- Potential fees: While many basic transactions are free, some services, like certain types of fund transfers, might incur fees. Always check the fee schedule within the app or on the BDO website.
Important Note: It’s always best to check the official BDO website or app itself for the most current and detailed information on features, fees, and security measures.
Terms and Conditions: BDO Pay Terms and Conditions of Use
Who Can Sign Up for the BDO Pay App?
Let’s see if you’re eligible to sign up! Here’s the breakdown.
A. People with BDO Online Banking
Signing up for BDO Pay is easy if you already use BDO Online Banking. Just use the same username and password you already have for your Savings, Checking, or Credit Card account.
B. BDO Account Holders and Credit Cardholders
Want to use BDO Pay but haven’t set up Online Banking yet? No problem! You can still sign up. Just enroll your BDO account or credit card in Online Banking first. Here’s how:
- Download the new BDO Online app from Google Play, App Store, or AppGallery.
- At the bottom of the homescreen, tap Sign up > Savings or Checking account*
- Enter the required details and agree to the terms and conditions
- Create your username and password, then tap Submit
After creating your BDO Online Banking account, use your login to sign up for BDO Pay.
*Only choose Credit Card if you don’t have a BDO Savings or Checking Account.
C. People New to BDO – People with no BDO Accounts Yet
Ready to use BDO Pay? First, download the BDO Pay app. Then, tap “Open a Basic Account” to begin the process of opening your account.
So that’s some information about the BDO Pay application and how to register. The BDO Pay application will make it easier for you when you want to make various payments using your cellphone.
If you’re unsure which category you fall into or how to get started, the BDO website and app have helpful guides and FAQs to walk you through the process.