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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
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    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
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    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
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    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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