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Transferring large amount of money from BDO to UK bank account.

Discussion in 'Money Matters' started by royal, Oct 8, 2020.

  1. royal

    royal Member

    As per the thread title, does anyone know the best way to do this please.
    I am aware the bank here will first change the Pesos into USD before transferring to the UK account, at a loss for me.
  2. oss

    oss Somewhere Staff Member

    BDO should offer an International Wire transfer facility.

    After some searching I found that they should offer this service if you have a BDO dollar account.

    You will need data like the IBAN number of the receiving account in the UK and probably some other details of the receiving account, I don't know but depending on the amount being transferred there might be money laundering checks that you have to pass.

    I guess it depends how much a large amount is?

    I don't know how reliable this link is, the site does not look great, the comments note that there could be issues like needing to have a TIN number (BIR Tax Number).

    https://www.banksphilippines.com/20...sfer,Your recipient has a bank account. More
  3. royal

    royal Member

    Hi @oss Many thanks for your reply and information link.

    The lady at BDO this morning didn't seem too sure about her facts, and certainly didn't mention opening a dollar account.

    The info required on the site is not a problem, and we have a TIN number. I'll go back to BDO and ask about the dollar account.

    Basically, I'm transferring funds back to the UK, to the bank where they originated.

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