On a previous post, we shared how easy it is to transfer money from your Unionbank EON account to a BDO account using online banking.
We also learned that EON will not charge any fee for using the ‘local peso transfer” facility to transfer funds to an account in Banco de Oro (BDO). On the other hand, BDO, the receiving bank of the fund transfer, charges a flat rate of P200 pesos as incoming remittance charge (local). Check here for the EON-BDO tutorial.
We have talked with a BDO CSR about its remittance rule, and the CSR confirmed that regardless of amount the incoming remittance fee of BDO is P200.
That is why if you use your EON account to send P1000 to a BDO account holder, the recipient will receive P800 net of the remittance charge. If you send P5000, recipient will receive P4,800.
Unionbank EON to BPI
We were trying to find out if EON to BPI peso fund transfer fee is cheaper compared to that of Unionbank to BDO.
Based on our successful Unionbank EON to BPI fund transfer we learned that BPI charges P150 flat rate for incoming remittance (local). This P150 is deducted from the amount you transferred. So if you transferred P1000, your recipient will receive P850 in his BPI account.
*Unionbank EON no outgoing remittance transfer charge. Zero fee for local peso transfer to another bank account.
After you completed the transfer from Unionbank your recipient will receive an email about the fund transfer you just made including the amount you sent, date of transaction, the recipient bank, and any message for your recipient.
Here is the email that our recipient received after we made a successful fund transfer bank to bank:
Your recipient will receive the funds you sent in his BPI account after two banking days.
With our two successful transfers, we have this result: BPI charges less local incoming remittance fee compared to BDO.
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