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crazygolfer

Hi,

I'm about to send some money to the Philippines. I have the account number and the bank (BDO in Cebu), but didn't get the Swift/Bic & IBAN....

Is there an online service to calculate the IBAN?  Seems the Swift/Bic could be BNORPHMM .... only that, that goes to HQ in Manila not a Cebu branch??

 

I have asked for these details but for her to get to the bank might not be so easy these days....

 

Thanks

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Davaoeno
10 minutes ago, crazygolfer said:

Hi,

I'm about to send some money to the Philippines. I have the account number and the bank (BDO in Cebu), but didn't get the Swift/Bic & IBAN....

Is there an online service to calculate the IBAN?  Seems the Swift/Bic could be BNORPHMM .... only that, that goes to HQ in Manila not a Cebu branch??

 

I have asked for these details but for her to get to the bank might not be so easy these days....

 

Thanks

BDO  SWIFT number is the same for all of the Philippines.   The incoming funds are first processed through Manila

Edited by Davaoeno
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Soupeod
1 hour ago, crazygolfer said:

Hi,

I'm about to send some money to the Philippines. I have the account number and the bank (BDO in Cebu), but didn't get the Swift/Bic & IBAN....

Is there an online service to calculate the IBAN?  Seems the Swift/Bic could be BNORPHMM .... only that, that goes to HQ in Manila not a Cebu branch??

 

I have asked for these details but for her to get to the bank might not be so easy these days....

 

Thanks

Transferwise is the least expensive, easy to use, and market exchange rate is perfect, get the Philippine acct number and swift code. Click send. Cost is about $9.00 per $1,000.00 USD being sent.

Note - Can use PC, droid or iPhone apps as well.

Xoom is easy to use; cost more and poor customer service. Also can send a load here.

West union, harder to use, more restrictive, bad customer service, bad exchange rate and the service charge is higher.

A lot of other bank to bank and to card options.

Edited by Soupeod
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Davaoeno
47 minutes ago, Soupeod said:

get the Philippine acct number and swift code.

He already has the account number and already posted the SWIFT code

Cost for 200K usd was $30 usd  and $5 usd for BDO

Edited by Davaoeno
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crazygolfer
9 hours ago, Davaoeno said:

BDO  SWIFT number is the same for all of the Philippines.   The incoming funds are first processed through Manila

I was suspecting that to be the case. Thanks for confirming!

7 hours ago, Soupeod said:

Transferwise is the least expensive, easy to use, and market exchange rate is perfect, get the Philippine acct number and swift code. Click send. Cost is about $9.00 per $1,000.00 USD being sent.

Note - Can use PC, droid or iPhone apps as well.

Xoom is easy to use; cost more and poor customer service. Also can send a load here.

West union, harder to use, more restrictive, bad customer service, bad exchange rate and the service charge is higher.

A lot of other bank to bank and to card options.

Transferwise looks interesting, Thanks!

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aabel

I just (Monday last) transferred by Wise (earlier Transwice). Arrival my account BPI on the day after. Much more easy than regular bank transfer.

To compare I also send the approximately same amount by bank. That has not arrived yet. Friday may be?

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aabel

I now got the answer about:

Bank vs Wise for transferring money from Norway to Philippines this week.

Time for transfer: Wise made it on less then 24 hours. Bank: 3 days, not bad this time.

Cost: Bank gave me slightly better value, 0.5 % better.

The amount was some 57k PHP and the Bank gave me 284 PHP more than Wise.

Not the big difference at all. It depends if you are in a hurry or greedy? About safety, I do not know.

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crazygolfer

Thanks All.

I decided to use Transferwise as suggested by Soupeod and aabel, and using Swift code BNORPHMM (BDO) and the account number as it looks locally, i.e NOT the IBAN number.  The money was received in the Philippines within 24 hours....  

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aabel

Congratulations, Crazy, if I can call u that.

And I also do think that  Soupeod is the one you can trust. If anyone.

Banks are to trust - do we think. Banks in the PH are different from all banks we know in Europe or western world.

I have been testing Equitable, BDO, Metro, PNB and two ot three others. I ended up with Bank of Philippines islands, BPI.

Walk the line and make own experiences, but my bank is BPI. My worst bak was BDO. Good luck.

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Davaoeno

I just checked the cost of SWIFT to send $200,000 usd  via Wise.  Their fee is $1078 usd.   That's versus  the $40 usd  I paid through bank

Edited by Davaoeno
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