The Bank of the Philippines Islands (BPI) will permanently waive fees for InstaPay and PESONet transfers to other banks and e-wallets beginning July 1, 2026, expanding free digital fund transfers across its online banking channels as part of its 175th anniversary initiatives.
The move covers transactions made through the BPI app, BPI online banking, VYBE, BanKo, and BizKo. It also aligns with BSP Circular No. 1238, Series of 2026, which encourages BSP-supervised financial institutions to adopt reasonable and fair, market-based pricing for person-to-person electronic fund transfers.
Before the change, BPI app users paid ₱10 for every InstaPay transfer and ₱50 for each PESONet transaction. Verified VYBE users already enjoyed free transfers to other banks and e-wallets.
The bank said the permanent fee waiver is expected to benefit more than 9.5 million users enrolled on the BPI app by making digital transactions more affordable and accessible.
“As we mark our 175th year, BPI remains committed to removing barriers to financial access and making banking more inclusive for all Filipinos. Making interbank transfers free is a meaningful step toward enabling our customers to move their money more freely, while strengthening adoption of secure and convenient digital banking,” said BPI President and CEO TG Limcaoco.
“We expect this to drive more frequent use of digital transfers as customers no longer have to factor in per-transaction costs. It simplifies everyday payments and makes the BPI app an even more practical tool for managing finances,” he added.
The waived transfer fees will apply to:
- All existing BPI mobile app users, including active and inactive customers
- BPI Preferred, BPI Gold, and BPI Private Wealth clients
- Verified VYBE users, who already receive free interbank fund transfers under their existing benefits
The offer includes:
- Zero fees for transfers to other banks and e-wallets
- InstaPay for real-time transfers
- PESONet for batch processing
- Transactions made through BPI online banking, the BPI app, BanKo, and BizKo
- Effectivity beginning July 1, 2026
Separately, BPI reminded customers to update the latest version of its mobile app by June 25. The update includes minor fixes and performance improvements aimed at improving the user experience.
The updated app is available through the Apple App Store, Google Play Store, and Huawei AppGallery.
BPI said eliminating interbank transfer fees is part of its broader effort to encourage greater use of digital banking for payments, remittances, and fund transfers by lowering transaction costs. The bank added that customers experiencing issues may seek assistance through its official customer support channels.
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