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MANILA, Philippines — As banks and e-wallets increasingly waive transfer fees, digital banking is becoming cheaper for millions of Filipinos. For consumers, it’s a welcome relief. A P10 to P25 fee may seem small, but for workers sending money home, online sellers making multiple transactions, or households stretching every peso, those charges quickly add up.
The trend reflects growing competition among banks and e-wallet providers, but it also raises a key question: Do free transfers truly benefit consumers, or do they simply shift the cost elsewhere?
READ: BSP clears way for digital transaction fee hikes; Go wants charges lowered to P2-P5
Behind every instant transfer is a network of banks, payment networks such as InstaPay and PESONet, technology providers and security systems.
