Money transfers have become a normal part of day to day transactions. This is especially true for most bank transactions where users need to send or receive money online. See the latest bank transfer fees in the Philippines.
Bank Transfer Fee Rates
Here is a list of transfer fees for bank to bank transactions and e-wallet to bank transfers and vice versa.
| Bank Name | Pesonet Fee (Php) | Instapay Fee (Php) |
| AUB (Asia United Bank) | 8 | 8 |
| Bank of China Ltd. | 30 | 30 |
| Bank of Commerce | 15 | 15 |
| BPI | 50 | 0-25 |
| BDO | 10-25 | |
| China Bank | 20 | 10-15 |
| CIMB Bank | Free | Free |
| Citibank | N/A | N/A |
| DBP | 10 | 10 |
| East West Bank | Free | 10 |
| Landbank | 15-150 | 15 |
| Maybank | N/A | 10 |
| Metrobank | 50 | 0-25 |
| PBCom | 15-500 | 20 |
| PNB | 20 | 20 |
| Philtrust | 25-50 | 15 |
| RCBC | 10 | 8-25 |
| Robinsons Bank | 20 | 10 |
| Security Bank | N/A | 25 |
| Unionbank | Free | 0-10 |
| Gotyme | 8 | 8 |
| Maya Bank | Free | 15 |
| Tonik Bank | Free | Free |
| Gcash | N/A | 15 |
Cut Off Time for Transfers
Instapay offers instant transfers after you have executed the process using your mobile phone.
On the other hand, Pesonet has a definite cut-off time which may take a few hours before the fund is reflected. For transfers that did not make it in the afternoon or evening cut-off, the money will be credited the following business day, excluding weekends Saturday and Sunday.
Waived Transfer Fees
Many of the banks today with Pesonet and Instapay partnerships have waived their transfer fees using the platform. However, they usually have limited promotional runs so you better take advantage of these free bank transfers.
Here are the banks with waived transfer fees or Pesonet and Instapay
Pesonet
Until December 31, 2023
- BPI Direct Banko
- CIMB
- East West Bank
- GoTyme
- HSBC
- Landbank
- Maya Bank
- SeaBank
- Tonik Digital Bank
- Union Bank
Instapay
Until November 11, 2023
- Unionbank
Until December 31, 2023
- BPI
- CIMB
- GoTyme
- Landbank
- Maya Bank
- Metrobank
- SeaBank
- Tonik Bank
Daily Transfer Limit
Some banks already have fixed daily transfer limits. The rates may start from Php 50,000 to Php 250,000 depending on the bank policy.
You can adjust the transfer limited per day. Simply use the bank’s mobile up and increase the transfer limit based on your needs. Note that not all mobile bank apps offer this feature so you better maximize your bank transfers.
References: BSP
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