Is your bank still charging InstaPay fees? Here are the banks that have yet to cut cost

• UPDATE: The list of Philippine banks and e-wallets offering free or cheaper digital fund transfers continues to grow, with BDO, Metrobank, Security Bank, PSBank, RCBC, MariBank, ShopeePay, and GrabPay announcing new fee changes.

While several banks and e-wallets have eliminated or reduced InstaPay transfer fees in recent days, many major financial institutions have yet to announce similar cuts, leaving millions of customers still paying to transfer money digitally.

The widening gap comes as more financial institutions respond to growing demand for lower-cost digital transactions, while others continue to maintain existing transfer charges.

Banks that waived or removed transfer fees

BPI made one of the strongest moves so far by making fund transfers to other banks and e-wallets via InstaPay and PESONet permanently free starting July 1.

The waiver covers transfers made through the BPI app, BPI Online, VYBE, BanKo, and BizKo. Previously, BPI app users were charged ₱10 for InstaPay transactions and ₱50 for PESONet transfers. The bank said the initiative is expected to benefit more than 9.5 million enrolled BPI app users.

BPI permanently waives interbank transfer fees across digital channels

RCBC also waived person-to-person InstaPay fees through RCBC Pulz starting July 4. The waiver applies to InstaPay transfers made through the RCBC Pulz mobile app and website, subject to a minimum transaction amount of ₱100.

However, RCBC’s free transfer benefit is not unlimited. Regular RCBC Pulz users are given the first 30 InstaPay transfers per calendar month for free.

RCBC waives InstaPay fees on Pulz starting July 4

MariBank now lists transfers to other banks and e-wallets through InstaPay and PESONet as free and unlimited. This replaces its previous arrangement of providing only a limited number of free monthly transfers.

MariBank now offers unlimited free InstaPay, PESONet transfers

GoTyme Bank also offers free monthly transfers. Based on its official help page, users get 20 free InstaPay transfers every month when sending money to other banks or e-wallets.

Once the free monthly quota is used, a ₱9 fee applies per InstaPay transfer. GoTyme-to-GoTyme transfers are always free, real-time, and unlimited, while PESONet transfers are also free.

LANDBANK has now moved from partial fee relief to a wider zero-fee policy. Starting July 7, all online fund transfers for retail clients through the LANDBANK Mobile Banking App and iAccess are free for InstaPay and PESONet transactions. The policy also covers Overseas Filipino Bank clients worldwide.

LANDBANK waives InstaPay, PESONet fees starting July 7

UnionBank also removed InstaPay person-to-person transfer fees through UnionBank Online starting July 7. The bank said customers already enjoy zero fees for PESONet transfers, UnionBank-to-UnionBank transfers, bills payments, telco load purchases, and QRPh in-store payments.

UnionBank joins zero-fee push, waives InstaPay transfers starting July 7

Philippine National Bank (PNB) is joining the growing number of banks removing digital fund transfer fees, as more financial institutions respond to calls for cheaper and more accessible online transactions.

PNB will waive InstaPay and PESONet fees for domestic fund transfers made through PNB Digital starting July 10, 2026, as part of its 110th anniversary celebration.

PNB waives InstaPay, PESONet fees via PNB Digital starting July 10

EastWest has also announced that it will remove InstaPay fees beginning July 15, while RCBC will extend its zero-fee policy to PESONet transfers on the same date.

EastWest Bank to waive InstaPay, PESONet fees starting July 15

Metrobank removed InstaPay and PESONet fees through the Metrobank App beginning July 9. Before the waiver, the bank had charged ₱8 for InstaPay transfers after reducing the fee from ₱25 in February.

Metrobank waives InstaPay, PESONet transfer fees via app

Security Bank made all online peso-to-peso transfers through InstaPay and PESONet free beginning July 10. The waiver is available to all Security Bank account holders using the Security Bank Mobile App, Security Bank Online, and DigiBanker.

Security Bank makes InstaPay, PESONet transfers free for all customers

BDO has also made InstaPay and PESONet transfers free through BDO Online and BDO Pay. The new policy replaces the previous ₱10 InstaPay and ₱50 PESONet charges on the covered platforms.

BDO waives InstaPay, PESONet fees on BDO Online, BDO Pay

ShopeePay has also removed charges for sending money to bank accounts and other e-wallets through InstaPay.

ShopeePay removes fees for InstaPay cash-ins, bank and e-wallet transfers

Banks and e-wallets that reduced or adjusted fees

GCash reduced its InstaPay transfer fee to ₱10 per transaction starting July 4. The lower fee applies to transfers from GCash to other banks and e-wallets through InstaPay.

GCash adjusts InstaPay transfer fee to ₱10 per transaction

Maya also lowered its InstaPay transfer fee to other banks from ₱15 to ₱10 effective July 6, 2026. Maya-to-Maya transfers remain free and instant, while PESONet bank transfers remain free, subject to standard processing schedules.

Maya cuts InstaPay transfer fee to ₱10 starting July 6

Chinabank extended its ₱5 InstaPay person-to-person transfer promo through My CBC App and My CBC Online until September 30, 2026. The promo applies to eligible interbank fund transfers between individual accounts via InstaPay. It does not cover PESONet transactions, corporate accounts, and non-individual accounts.

PalawanPay also extended its ₱5 InstaPay fee promo until September 30, 2026. Under the promo, verified PalawanPay users may send money to other banks and e-wallets for a ₱5 transaction fee.

GrabPay reduced its InstaPay transfer fee from ₱15 to ₱10 on July 11. The lower rate applies to transfers from a GrabPay Wallet to participating banks and e-wallets.

GrabPay cuts InstaPay transfer fee to ₱10

Major bank that have yet to lower fees

Despite the growing shift toward cheaper digital transfers, a major bank has yet to announce broad fee reductions or waivers.

• AUB – ₱8 InstaPay fee (no new waiver announced)

The fee adjustments follow the government’s push for more affordable digital transactions, including interbank and intrabank fund transfers. The Bangko Sentral ng Pilipinas expects more financial institutions to review their pricing after new rules took effect requiring digital transaction charges to reflect actual processing costs.

Finance Secretary Frederick Go said he is optimistic that digital fund transfers will eventually become free across the industry.

“I am hopeful that almost all digital transactions will soon be free of charge,” Go said in a message to reporters.