The Bank of the Philippine Islands (BPI) is adopting InstaPay for all inter-institution cash-in transactions starting October 1, 2025, in line with a directive from the Bangko Sentral ng Pilipinas (BSP) aimed at improving digital financial services’ interoperability and transparency.
A P15 service fee will be applied to cash-in transactions made via InstaPay, including those to GCash. This follows similar implementations for ShopeePay and SeaBank, with other apps expected to comply as well. The fee will cover additional costs, such as clearing fees from BancNet, the clearing switch operator for InstaPay.
However, BPI continues to offer affordable options for customers, including lower fees or even free transfers. Customers using the BPI app can transfer funds to GCash via InstaPay for just P10, with select customer segments and merchant payments still eligible for free transfers. Additionally, BPI’s #MySaveUp accounts, available through the GCash app, allow for fee-free transfers from the BPI app to the GSave account and withdrawals to GCash e-wallets. This transition ensures BPI remains compliant with regulatory standards while providing flexible and cost-effective digital banking solutions.
