BPI permanently waives interbank transfer fees across digital channels

• Make sure your BPI app is up to date to enjoy the latest features and enhancements. (BPI)

Bank of the Philippine Islands (BPI) is permanently removing interbank transfer fees across its digital banking platforms starting July 1, 2026, allowing customers to send money to other banks and e-wallets at no extra cost.

The bank said the free transfer service will cover InstaPay and PESONet transactions made through the BPI app, BPI online banking, VYBE, BanKo, and BizKo.

Previously, BPI app users were charged ₱10 for InstaPay transactions and ₱50 for PESONet transfers when sending funds to other banks and e-wallets. Verified VYBE users already enjoy free interbank fund transfers.

BPI said the move is part of its push for financial inclusion and its 175th anniversary celebration. It is also aligned with Bangko Sentral ng Pilipinas Circular No. 1238, Series of 2026, which calls on BSP-supervised financial institutions to adopt reasonable and fair market-based pricing for person-to-person electronic fund transfers.

“As we mark our 175th year, BPI remains committed to removing barriers to financial access and making banking more inclusive for all Filipinos. Making interbank transfers free is a meaningful step toward enabling our customers to move their money more freely, while strengthening adoption of secure and convenient digital banking,” BPI President and CEO TG Limcaoco said.

Limcaoco said the removal of fees is expected to encourage more customers to use digital transfers for daily payments, remittances, and fund transfers.

“We expect this to drive more frequent use of digital transfers as customers no longer have to factor in per-transaction costs. It simplifies everyday payments and makes the BPI app an even more practical tool for managing finances,” he added.

The bank said the initiative is expected to benefit more than 9.5 million BPI app-enrolled users by making digital transactions more cost-efficient and accessible.

The waived fees apply to all existing BPI mobile app users, including active and inactive customers. Clients under BPI Preferred, BPI Gold, BPI Private Wealth, and verified VYBE users who already enjoy free interbank fund transfers will continue to have the benefit as part of their existing services.

BPI also reminded customers to update their mobile app to the latest version to access the newest features and enhancements. The update includes minor fixes and performance improvements to improve user experience.

The updated BPI app is available on the Apple App Store, Google Play Store, and Huawei AppGallery.

BPI said customers who encounter issues may reach the bank through its official channels, including its website or the BPI 24/7 Contact Center at (02) 889-10000.