PNB waives InstaPay, PESONet transfer fees

MANILA, Philippines — Lucio Tan’s Philippine National Bank (PNB) is waiving transfer fees for domestic fund transfers made through its digital banking platform starting July 10 as part of the bank’s 110th anniversary celebration.

In a statement, PNB said clients may send funds for free to all domestic banks and e-wallets through PNB Digital as part of the bank’s 110th anniversary celebration.

“As we celebrate PNB’s 110th anniversary, we want to give back to the customers who have placed their trust in us through the years,” PNB president and CEO Edwin Bautista said.

“Waiving transfer fees is one way we can make banking more convenient and help more Filipinos move their money with greater ease and confidence. It reflects our continuing commitment to accessible, inclusive, and customer-centered banking,” he said.

The move is expected to benefit more than 1.6 million PNB Digital users, allowing them to transfer funds more conveniently while supporting the growing adoption of secure digital payments.

“As more Filipinos embrace digital banking, our focus is on removing everyday friction and delivering solutions that create real value for our customers,” Bautista said.

“We will continue to invest in digital capabilities that make banking simpler, more accessible, and more rewarding for every Filipino.”

The fee waiver covers domestic fund transfers coursed through InstaPay and PESONet, the two automated clearing houses used by banks and electronic money issuers in the Philippines.

InstaPay allows customers to send funds in real time to participating banks and e-wallets, while PESONet is typically used for larger-value transfers that are credited within the same banking day or the next banking day, depending on the cut-off time.

PNB’s move comes as more local banks are waiving or lowering digital transfer charges to encourage wider adoption of cashless payments and retain customers on their online platforms.

The latest adjustment also follows recent announcements from other major lenders offering free or reduced-cost fund transfers through InstaPay and PESONet, making transaction fees an emerging point of competition in the banking industry.