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MANILA, Philippines – Philippine Savings Bank (PSBank) has waived InstaPay and PESONet transfer fees on its digital channels, joining lenders offering free fund transfers as the Bangko Sentral ng Pilipinas pushes for cheaper digital payments.
In a social media announcement on Thursday, the thrift banking arm of the Metrobank Group said customers can now send money via PSBank mobile and PSBank online without paying transfer charges starting July 9.
READ: Palace to banks: Cut transfer fees
PSBank joins a growing list of banks that have eliminated transfer fees, including BPI, LandBank, UnionBank, PNB and Metrobank.
