Expat Community > Philippines

trappedinhell
Joined 2012
Posts: 532

Mysterious Bank Wiring Fee

11 years ago

I've recently wired (dollar to dollar) some funds from my Bank of America account to my Banco De Oro and Bank of Philippine Islands account, BofA charges $45 for international wiring and BDO charges $5 (BPI charges $6.50) for receiving the wired funds. The thing is there's an extra charge of $10 by BDO and an extra charge of $6.50 by BPI when receiving these wired funds. I've called BofA about this and they said the discrepancies ($10 & $6.50) were taken out by the banks in the Philippines. I've inquired with the branches in BDO & BPI were my accounts are and they could only explain their normal wiring fees (BDO - $5 & BPI - $6.50); but not the extra fees or discrepancies or missing amounts (BDO - $10 & BPI - $6.50). My hunch is their main office(s) takes out those extra $'s and double charge their wiring clients. Has anyone experience this before in wiring funds to Philippine banks? Does anyone has knowledge about these extra wiring charges or hidden fees?

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