Several Philippine banks are waiving fees for domestic interbank transfers made through InstaPay and PESONet, building on a BSP push to make digital payments more affordable. BPI announces that it permanently removes charges for transfers made through its digital channels starting July 1, 2026, previously charging P10 per InstaPay transaction and P50 for PESONet transfers. The waiver covers transfers to other banks and e-wallets via InstaPay and PESONet through BPI’s mobile app, online banking, VYBE, BanKo, and BizKo.
Other banks announce similar removals or timed rollouts. PNB says it waives InstaPay and PESONet fees for domestic transfers made through PNB Digital starting July 10, citing its 110th anniversary. PSBank scraps the transfer fees on July 9 through its mobile and online channels. Metrobank makes InstaPay and PESONet transfers via its app free. BDO also reports “zero fees” for InstaPay and PESONet transfers through its app, adding to a growing list of institutions.
In parallel, reporting notes customers and observers are urging additional banks to follow, as banks adjust charges in line with BSP guidance on aligning fees with processing costs.
