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

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.

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.

MariBank also offers free transfer allocations. Based on its official fees and rates page, transfers to other banks and e-wallets via InstaPay and PESONet are free for up to 50 transfers monthly.

A ₱15 processing fee applies for each additional transfer after the free monthly allocation. Transfers between MariBank accounts remain free.

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.

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.

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.

Metrobank had earlier reduced its InstaPay fee from ₱25 to ₱8 per transaction starting February 1. Metrobank-to-Metrobank transfers remain free.

LANDBANK also reduced its person-to-person InstaPay fee from ₱15 to ₱8 effective May 21, 2026. The lower fee applies to transfers made through the LANDBANK Mobile Banking App and iAccess. LANDBANK also offers one free InstaPay transfer per day for transactions worth ₱1,000 and below.

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.

Major banks that have yet to lower fees

Despite the growing shift toward cheaper digital transfers, several major banks and e-wallets have yet to announce broad fee reductions or waivers.

• BDO – ₱10 InstaPay fee; ₱50 PESONet fee
• UnionBank – ₱10 InstaPay fee
• Security Bank – ₱10 InstaPay fee for regular clients (free only for Gold Circle and Wealth Management clients)
• PNB – ₱20 InstaPay fee for individual clients
• EastWest Bank – ₱10 InstaPay fee
• AUB – ₱8 InstaPay fee (no new waiver announced)
• GrabPay – ₱15 InstaPay fee
• ShopeePay – ₱15 transfer or withdrawal fee to third-party banks and e-wallets

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.