RCBC makes InstaPay transfers free as banks cut digital payment fees

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RCBC Pulz customers may make up to 30 free InstaPay transfers per month, with a minimum amount of P100 per transaction

MANILA, Philippines – Rizal Commercial Banking Corporation (RCBC) will waive most InstaPay fees starting July 4, making it the latest bank to eliminate or lower digital transfer costs after similar moves by Bank of the Philippine Islands (BPI) and Land Bank of the Philippines.

The Yuchengco-led bank said InstaPay transfers will be free through RCBC Pulz, its main mobile banking app, and RCBC DiskarTech, its financial inclusion app.

The waiver, however, will not be unlimited for all users. RCBC Pulz customers may make up to 30 free InstaPay transfers per month, with a minimum amount of P100 per transaction. Transfers below P100 or beyond the monthly free allocation will be charged P10.