The Bank of the Philippine Islands (BPI) on Monday announced that fund transfers via InstaPay and PESONet to other banks and e-wallets will be permanently free for all users effective July 1, 2026. The waiver complies with BSP Circular No. 1238, Series of 2026, which mandates fair and reasonable pricing for electronic fund transfers across financial institutions.
Previously, InstaPay transactions carried a ₱10 fee while PESONet transfers cost ₱50 through BPI digital channels. The new policy applies to all users of BPI online banking, mobile app, BanKo, and BizKo platforms, covering over 9.5 million enrolled customers including existing VYBE users who already enjoyed this benefit.
BPI president and CEO TG Limcaoco stated that this initiative removes financial barriers and boosts digital banking adoption. The bank aims to simplify daily transactions and encourage wider use of secure digital payment systems.
Customers are advised to update their BPI mobile app to the latest version by June 25, 2026, available on major app stores, to ensure uninterrupted service. This fee waiver forms part of BPI’s strategic goal to expand access to financial services and drive the shift toward digital transactions.
