LIST: Banks with waived InstaPay, PESONet fees as of Jan. 20

ABS-CBN News

Posted at Jan 24 2022 12:15 PM

MANILA - The Bangko Sentral ng Pilipinas on Monday released the latest list of banks with waived fees for PESONet and InstaPay electronic cash transfers.

Banks earlier waived the fees to boost the adoption of the said online payments.

List of banks with waived InstaPay and PESONet fees. Source: Bangko Sentral ng Pilipinas
List of banks with waived InstaPay and PESONet fees. Source: Bangko Sentral ng Pilipinas

In December, the BSP capped the fees imposed for InstaPay and PESONet transactions. 

Banks and e-money issuers are allowed to waive or reduce their current fees while those that have waived fees may charge fees again at the level prior to such waiver of fees, the central bank earlier said. 

The BSP has been pushing for digital transactions under its Digitalization Roadmap 2023.

The use of InstaPay and PESONet surged during the COVID-19 pandemic as cashless payment become the preferred option for Filipinos who want to safely transact without leaving their homes.

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