UCPB extends free fund transfers via InstaPay, PESONet until Dec. 31


Posted at Jul 20 2020 05:37 PM

MANILA - United Coconut Planters Bank said Monday it would waive fees for fund transfers through InstaPay and PESONet transactions to assist consumers during the coronavirus pandemic.

Fund transfer fees for InstaPay and PESONet for UCPB Connect and mobile banking app are set aside until December 31 this year, UCPB said in a statement.

"We hope that through this, we can contribute to our clients’ safety and well-being as this will enable them to transact online in the safety of their homes instead of venturing outside,” UCPB Officer-in-Charge Liduvino S. Geron said.

The bank suspended its fund transfer fees since the community quarantine took effect in March.

The Bangko Sentral ng Pilipinas earlier waived fees for InstaPay and PESONet transactions to help cushion the impact of the COVID-19 pandemic and resulting lockdowns to Filipino consumers.

Authorities urged the public to use cashless payments in transport and in other industries to lessen the risk of contracting the coronavirus by handling cash.