Monday, February 4, 2013

DBS/POSB/UOB Online Remittance To Any Banks in the Philippines

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Posted on Monday, February 4, 2013

DBS/POSB Online Remittance To Any Banks in the Philippines
After more than four years of working in Singapore, I have finally tried PNB's Online Remittance. The Philippine National Bank in Singapore has recently introduced the service which is available to DBS, POSB and UOB online banking and mobile app banking.

If you're interested to send money online to your loved ones in the Philippines without the hassle of queuing for more than 1 hour in Lucky Plaza, here are the easy steps!

1) Go to any of the PNB centers in Lucky Plaza (main branch or the remittance centre beside i-Remit). Get a form and sign all particulars especially your beneficiary's bank account details. If I can recall they have a maximum of 3 sections for your beneficiaries. They currently have a $2 service charge promo for the first transaction. I used that actually. Their usual service charge is actually $3.50.

2) If you did remit to PNB, you will see in the receipt your own remitter reference number (refer to the first circled section in the receipt), it is a 12-digit number located on the top left of the receipt. Since you're going to do a Bill Payment in DBS/POSB/UOB, you need a reference number. The reference number that they need is a 14-digit number. All you have to do is to get the first 12-digits of your remitter number followed by the last 2 digits of your beneficiary bank details code (refer to the second circled section in the receipt).

01 - first registered beneficiary account
02 - second registered beneficiary account
03 and so on.

Anyway, if you have signed up at the main branch, they will give you your own VIP card with the remitter number. For those who have signed up at the remittance center, you can proceed to the main branch, approach the customer service and ask for your VIP card.

PNB Singapore remittance receipt

3) If you have your 14-digit reference number, login to the DBS/POSB or UOB Internet banking. For the steps below will only be applicable for DBS/POSB. I currently don't have an account with UOB.

4) Go to the Bill Payment link from the Payments menu on the left side bar then select PHILIPPINE NATIONAL BANK from the list of companies.

5) Enter your 14-digit reference number.

6) Enter your desired amount, amount entered will be inclusive of the $5 charge. The SGD to PHP conversion will be based on the closing rate for the day. I suggest that you check their website for the forex rate in case there's discrepancies.

DBS/POSB Online Remittance To Any Banks in the Philippines

7) Follow the OTP procedure then confirm your payment.

Based on my experience, my following bank accounts were credited on these timings:

BDO - 4PM the next banking day
BPI - 5PM the next banking day

The transfer were successful and with that I'll be definitely using this online remittance service than to queue to i-Remit. I'm just wondering why i-Remit or the bigger bank Metrobank didn't think of this service first.

Just a reminder by the way that PNB's cutoff for the bill payment is until 10PM only. Transact before that timing if you expect your money to arrive the next banking day. Take note as well that you'll be receiving a physical receipt by mail.

20 Responses to “DBS/POSB/UOB Online Remittance To Any Banks in the Philippines”

dividendscity said...
February 13, 2013 at 5:59 PM

nalito ako.

from DBS/POSB to PNB then how did it get into your BPI account?

did you mean

14-digit remitter number given by PNB.

now the first 12 digits you take then the last 2 digits you have to find out the BPI codnumber?


Makoy said...
February 13, 2013 at 6:16 PM

PNB acts as a middle man or the remittance center. As mentioned in the post, you have to go to PNB to register any banks in the Philippines.

The last 2 digit is based on the sequence if you registered only 1 bank account then the last 2 digits will be 01. Your second registered bank is 02. It's not the bank code.


Imriz Tomacruz said...
March 17, 2013 at 12:29 PM

it's great to know PNB's going global. this will be very much helpful to our kababayans working in SG.
i bet, the fee is lower than other commercial remittance centers.


ChrisAir Seneba said...
March 17, 2013 at 3:28 PM

I use BPI as a remittance but I heard that BPI and PNB will be merging so hoping for a development


Makoy said...
March 17, 2013 at 4:56 PM

Imriz, it's actually more expensive if you go online but if you visit their branch at Lucky Plaza it's the same as others.


melandriaonline said...
March 17, 2013 at 10:26 PM

online banking is really convenient now for those busy people especially for a busy mom like me. it can do wonders.


Mary Anne Vinzon said...
March 17, 2013 at 10:30 PM

Thanks for sharing this informative post. A big help for those sending their money through remittance for their love ones.


Chubskulit Rose said...
March 18, 2013 at 12:33 AM

I didn't like the PNB in the place where I came from, their servise was horrible based on what I have experienced when I was still there.

Glad to know that there are some options to choose from in money remittances now.


Prettymom said...
March 18, 2013 at 6:15 AM

this is certainly a good news as a lot of OFW are using PNB.. it be easier for them to send money to their loved ones in the country


""rare*jonRez"" said...
March 18, 2013 at 10:46 AM

That's a good thing! Making remitance to our families back home a lot more easy and convenient.

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working mama said...
March 18, 2013 at 3:41 PM

this is such a great news and convenient for users


Bebengisms said...
March 18, 2013 at 11:40 PM

My uncle from the US has been using PNB ever since. :)


Peachy @ The Peach Kitchen said...
March 20, 2013 at 7:22 AM

We've never tried PNB in sending over remittances.


Jadey Diva Fabulosa said...
March 20, 2013 at 1:34 PM

I have never tried PNB for sending money when we were there, I think the charges are to high.


ross said...
June 16, 2013 at 1:33 AM

I transferred amount from my POSB to PNB on Saturday 9am and until 12pm of same day and until next day Sunday I have not received my transfer yet to my PNB. Is it because their electronic system is not sending transfers on weekend? I am so much worried. Its quite big amount. :'(


Makoy said...
June 16, 2013 at 2:28 AM

If you transact with the bill payments online during weekends, PNB will only process your transaction the next banking/working day. In your case, your remittance should be credited by Monday afternoon.


Don said...
June 27, 2013 at 2:49 PM

thanks a lot for this info. will this also apply for remittance to a check account?


Makoy Tayag said...
June 27, 2013 at 3:08 PM

Yes, it applies to current accounts as well.


ross said...
June 28, 2013 at 9:30 PM

how about i transfer on friday 3pm which is still part of weekday? when will i be able to receive? actually i thought that using this system is like a one-click remittance. :( it troubled me and made me disappointed for so many times believing its just that easy to transfer and receive.


Makoy Tayag said...
June 28, 2013 at 10:09 PM

Cut-off for the day is 10PM, since the next day is a weekend, your remittance will arrive Monday afternoon. I have been using this service and I find it very easy and hassle free.

I think it's the same procedure in lucky plaza except for metrobank to metrobank, which is real time.


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