BPI cuts fund transfer fee to P10

MANILA, Philippines — Filipinos using Bank of the Philippine Islands (BPI) can now transfer funds to other banks and e-wallets for a reduced fee of just P10.

BPI announced on Friday, March 7, that it has lowered the transfer fee from P25 to P10 per transaction for transfers to other banks and e-wallets.

This promo is exclusively available to BPI customers with Peso Savings or Peso Checking accounts who are enrolled in the BPI app or online banking. BizKo customers using the BizKo app can also avail of the offer.

"Customers who use the BPI app, BPI online, or BizKo to transfer funds from BPI to another Bank (IBFT) via InstaPay within the promo period shall enjoy a lowered IBFT fee of P10 per transaction," the announcement read.

BPI said the promo does not apply to fund transfer transactions to other banks made through PESONet.

The P10 transfer fee is only part of a limited-time promotion, available only from today until May 31, 2025.

BPI reported a 20% increase in profits for 2024, earning P62 billion, up from P51.7 billion in 2023.