BPI to make InstaPay, PESONet transfers free starting July 1. Will other banks follow?

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BPI. A branch of the Ayala-owned Bank of the Philippine Islands

Previously, most BPI app users were charged P10 for InstaPay transactions and P50 for PESONet transfers

MANILA, Philippines – Bank of the Philippine Islands (BPI) is making interbank transfers through InstaPay and PESONet free starting Wednesday, July 1, as regulators push for lower digital transfer fees.

BPI fund transfers to other banks and e-wallets through InstaPay and PESONet will be permanently free on the BPI app, BPI online banking, VYBE, BanKo, and BizKo. There is also no daily limit to the number of free InstaPay transfers.