Landbank cuts transfer fee to P8

MANILA, Philippines —  Land Bank of the Philippines has cut its InstaPay transfer fee for person-to-person (P2P) transactions to P8 from P15, while offering one free daily transaction worth P1,000 or less.

In a statement, Landbank said the lower fee applies to P2P fund transfers conducted via its mobile banking application and iAccess.

The lender said the move seeks to ease the cost of everyday financial transactions while pushing for broader adoption of secure, fast and cashless payment channels.

“Landbank remains committed to advancing financial inclusion by making digital banking more affordable and accessible. By lowering transaction fees, we are enabling more Filipinos to use secure and convenient digital channels for their everyday financial transactions,” said Landbank president and CEO Lynette Ortiz.

On top of this, the bank is preparing to roll out zero Landbank fees for person-to-government payment services for select government transactions.

This initiative is touted to make transactions easier, faster and more affordable for Filipinos to pay taxes, fees and other public dues online.

Finance Secretary and Landbank chairman Frederick Go said reducing digital transaction costs is a crucial step in bringing more Filipinos into the formal financial system.

“By making fund transfers more affordable, Landbank is helping empower individuals, families and small businesses to participate more actively in the digital economy,” Go said.

In 2025, the value of InstaPay transactions jumped by 57.3 percent to P11.6 trillion, data from the Bangko Sentral ng Pilipinas showed. Meanwhile, volumes rose by 231 percent to 4.7 billion.

Landbank reported a record net income of P43.98 billion in 2025, up by 24 percent from the previous year.