MANILA, Philippines — Several banks have waived their PESOnet and Instapay fees for the holiday season, the Bangko Sentral ng Pilipinas said on Tuesday.
Most banks waived their fees until Dec. 31, 2023, with the exception of the Union Bank of the Philippines which will only waive its Instapay fees until Nov. 11, 2023.
These are the banks that will waive their fees during the holiday season:
PESOnet
- BPI Direct
- Country Builders Bank Inc.
- CIMB Bank Philippines
- East West Bank
- Go Tyme Bank Corporation
- HSBC (retail clients)
- HSBC (retail savings bank)
- Land Bank of the Philippines
- Maya Bank, Inc.
- PayMongo Payments, Inc.
- Rural Bank of Guinobatan
- Philippine Business Bank, Inc.
- SeaBank Philippines, Inc.
- Tonik Digital Bank, Inc.
- Union Bank of the Philippines (retail clients)
Instapay
- Union Bank of the Philippines
- Bank of the Philippine Islands
- CIMB Bank Philippines
- GoTyme Bank Corporation
- Land Bank of the Philippines
- Maya Bank, Inc. (Business Deposit)
- Metropolitan Bank Trust and Company
- Rural Bank of Guinobatan
- SeaBank Philpppines, Inc.
- Tonik Digital Bank, Inc.
PESONet transfers have no maximum limit and are processed by the end of the day. On the other hand, InstaPay permits real-time transfers of up to P50,000 per transaction.