BDO Forex: A Complete Guide to Currency Exchange, Remittance, and Trading
Foreign exchange (forex) services are essential for travelers, overseas workers, investors, and businesses dealing with international transactions. In the Philippines, BDO Unibank (Banco de Oro) is one of the most trusted banks offering reliable forex solutions.
This comprehensive guide covers everything you need to know about BDO Forex, including currency exchange, remittance services, forex trading, and how to get the best rates.
What is BDO Forex?
BDO Forex refers to the foreign exchange services provided by BDO Unibank, one of the largest banks in the Philippines. These services include:
– Currency exchange (buying and selling foreign currencies)
– International remittances (sending and receiving money abroad)
– Foreign currency deposit accounts (FCDU)
– Forex trading through BDO Securities
Whether you’re an OFW sending money home, a business owner dealing with imports/exports, or a traveler needing foreign cash, BDO offers secure and convenient forex solutions.
BDO Forex Services Explained
1. Currency Exchange (Buying & Selling Foreign Currency)
BDO allows customers to exchange Philippine pesos (PHP) to foreign currencies (USD, EUR, GBP, JPY, AUD, etc.) and vice versa.
Key Features:
– Available at BDO branches, forex counters, and select ATMs
– Competitive exchange rates. Check BDO’s latest forex rates here for updates.
– Supports major currencies for travel, business, and investment
Best For: Travelers, investors, and businesses needing foreign cash.
2. Forex Remittance Services
BDO facilitates fast and secure international money transfers through multiple channels:
A. Inward Remittance (Receiving Money from Abroad)
– OFWs and freelancers can receive funds via:
– SWIFT transfers
– Western Union
– MoneyGram
– BDO Remit partners
B. Outward Remittance (Sending Money Overseas)
– Payments for education, medical expenses, or business
– Direct bank transfers to foreign accounts
Best For: Overseas Filipino Workers (OFWs), freelancers, and businesses with global transactions.
3. Foreign Currency Deposit (FCDU) Accounts
BDO offers Foreign Currency Deposit Unit (FCDU) accounts, allowing customers to hold funds in USD, EUR, JPY, and other currencies.
Benefits:
– Earn interest on foreign currency deposits
– Avoid frequent forex conversion fees
– Ideal for businesses with international dealings
Best For: Exporters, importers, and investors holding foreign currencies.
4. Forex Trading via BDO Securities
For investors interested in currency trading, BDO Securities provides forex trading services for major pairs like:
– USD/PHP
– EUR/USD
– GBP/USD
Features:
– Online trading platform
– Real-time forex market updates
– Expert insights for traders
Best For: Traders and investors looking to profit from forex market movements.
How to Check BDO Forex Rates?
BDO updates its forex rates daily based on market conditions. You can check the latest rates via:
✅ BDO Website – Visit the BDO FOREX Page Here: FOREX
✅ BDO Mobile App – View real-time currency rates
✅ BDO Branches – Inquire at forex counters
Pro Tip: Exchange rates fluctuate, so monitor trends before making large transactions.
Final Thoughts: Why Choose BDO?
BDO Unibank is a trusted and convenient choice for forex services in the Philippines because:
✔ Wide accessibility – Over 1,600 branches nationwide
✔ Competitive rates – Better than most local money changers
✔ Secure transactions – Regulated by the Bangko Sentral ng Pilipinas (BSP)
✔ Multiple services – Remittance, forex trading, and FCDU accounts in one bank
Whether you need travel money, OFW remittances, or forex investments, BDO provides reliable solutions.
Frequently Asked Questions (FAQs)
1. Where can I exchange currency at BDO?
You can buy/sell foreign currencies at any BDO branch with a forex counter. Some ATMs also allow USD withdrawals.
2. What documents are needed for forex transactions?
For large transactions, BDO may require:
– Valid ID (Passport, Driver’s License)
– Proof of transaction (e.g., plane ticket for travel money)
3. Does BDO charge fees for remittances?
Yes, fees vary depending on transfer amount and destination. Check [BDO Remit Fees](#) for details.
4. Can I trade forex with BDO as a beginner?
Yes, BDO Securities offers trading for both beginners and experienced traders. You can start with a demo account to practice.
5. How often do rates change?
Rates update daily based on global forex market movements. Check the BDO Forex Rates page FOREX for real-time updates.