BPI Wire Transfer: Transfer Time, Fees, and Limits | Instarem (2024)

FAQs

How long does wire transfer take BPI? ›

Payments sent from different banks overseas to BPI accounts, via SWIFT, are likely to take a couple of days. While this can still vary a lot, it's common for an international SWIFT transfer to take about 3 to 5 working days to be deposited.

You can transfer up to an aggregated amount of Php 250,000* per day. This limit includes cash-ins to other partner apps and websites, load prepaid phone and prepaid card, load other prepaid, transfers to other BPI accounts (unenrolled), Instapay transfers, pay e-Gov, pay on delivery, and BPI to Cash.

*Transfers to other banks via QR code can only be done through InstaPay; a Php 25 fee will be deducted from your account per transaction. See the list of participating banks and financial institutions that allow InstaPay transfers via QR code.

Generally speaking, international bank transfers will arrive within one to five working days. Let's explore what this looks like. To send an international payment, you simply need to gather all the necessary information (IBAN number, BIC/SWIFT number, recipient's banking details, etc.)

Credit to BPI Account – remittance proceeds in Philippine Peso (PHP), USD Dollar (USD) or third currency can be credited to a valid BPI account. b.

If transfers occur between accounts at the same financial institution, they can take less than 24 hours. Wire transfers via a non-bank money transfer service may happen within minutes. If you're sending money to another country, however, it may take as many as five days for the recipient to receive their funds.

BPI Outward Remittance Account is a fast and affordable way of sending money from a BPI account to an international bank account. Transactions may be done using BPI Online and Mobile App or at BPI branches nationwide.

For free BPI-to-BPI transactions, enroll third party accounts or transfer via QR code.

How much does an international wire transfer cost? ›

Average wire transfer fees

Wire transfer fees have a wide range – from $0 to $50, depending on how and where you're sending the money. Domestic outgoing wire transfer fees typically range from $0 to $35, while international outgoing wire transfer fees are usually $35-50.

The SWIFT/BIC code for Bank of the Philippine Islands (BPI) is BOPIPHMMXXX.

Most of the remittance companies today offer bank to bank transfers for sending money to USA from Philippines. They do this by letting you fund your transaction through your local bank account in Philippines, and by allowing you to choose the payout to be your recipient's bank account in USA.

The time it takes for a remittance to reach the beneficiary may vary depending on several factors. For credit to BPI account, generally it will be within 24-hours while for credit to other banks or e-wallets, transaction will be credited within 24-48 hours during banking days.

Generally speaking, you can send as much as you like overseas. There aren't any US laws on sending money abroad that limit the amount you can send. But as above, payments over a certain threshold will trigger IRS reporting and tax obligations.

The difference between a wire transfer and a real time payment is that real-time payments take place and settle instantly, but wire transfers can take anywhere from a few minutes to 24 or more hours, depending on the financial institutions involved in the transactions.

Funds transferred via InstaPay will be credited to the recipient's account real-time. In case of non-real-time credits to recipients, you may send us a message or contact our 24-hour BPI Contact Center at ‎(+632) 889-10000 to check the status of the transaction.

Log in or register with Western Union to get started. Enter the US as your destination country, as well as the amount you would like to send. Choose how you want to pay for your money transfer from the Philippines to the USA.

How do I check the status of my remittance? Remitters and beneficiaries may visit https://online.bpi.com.ph/portalserver/onlinebanking/status-enquiry and enter the reference number to see the status of their remittance/s. Client may call our contact center at (+632) 889-10000 for assistance.