Banco De Oro (BDO) recently made an announcement that effective March 15, 2017, they will be charging their customers with a Php 10.00 fee for every transaction using their BDO Send Money service.
What Is BDO Send Money?
To begin with, BDO Send Money is an available option for customers to send money to another BDO account including those that are not enrolled in their BDO online or mobile banking account. This service is different from the BDO Fund Transfer service which requires a user to enroll another individual or company account and then activate it later by using the ATM machine.
Obviously, more people prefer the BDO Send Money alternative because it is hassle free and is free of charge. However, this will soon change with the official announcement of BDO regarding the service.
Mixed Reactions Among BDO Customers
Many clients have expressed disappointment that the free service will now come with a fee. Also, some are even dismayed that BDO did not make any explanations regarding the reason behind the new policy.
On the other hand, there are those who pointed out that the Php 10 charge is still far cheaper when compared to using other money remittance services.
Increased Daily Limit for BDO Send Money
It should likewise be noted that beginning March 15, 2017, customers can now take advantage of the increased daily limit for BDO Send Money. In the past, users can only send a maximum of Php 10,000 using the service – now it will be increased to Php 50,000 per day.
BDo Fund Transfer As The Free Option
Still, those who want to avoid the Php 10 fee have the option of using the BDO Fund Transfer for free, as long as they are willing to go through the enrollment process. Just remember that you can only enroll a maximum of 20 individuals and/or companies under your account.