MANILA - The Bank of the Philippine Islands (BPI) said Friday it would waive fees for select money transfer transactions on its mobile app until end of September.

There will be no fees for using InstaPay money transfer and fund transfer to other BPI accounts when using the BPI mobile app until Sept. 30 this year, the Ayala-led bank said.

We will continue to waive fees for the following services until September 30, 2020:

*InstaPay money transfers to other banks via BPI Mobile app

*Fund transfers to other BPI accounts via BPI Mobile app and BPI Online

Stay healthy and safe! pic.twitter.com/DQpD5Uw5km

— BPI (@TalktoBPI) July 31, 2020

InstaPay and PesoNet are features under the Bangko Sentral ng Pilipinas National Retail Payment System.

The BSP encouraged lenders to waive fees and consumers to use digital payments during the coronavirus pandemic. BSP Gov. Benjamin Diokno earlier said the COVID-19 crisis highlighted the increasing importance of digital transactions.

• COVID-19 pandemic highlights 'increasing importance' of digital transactions: BSP
• BDO waives send money fee on Instapay
• UCPB extends free fund transfers via InstaPay, PESONet until Dec. 31