MANILA - Philippine National Bank (PNB) is extending its free bank transfers using Instapay and PESONet up to March 31 to encourage online banking to avoid the spread of COVID-19.

"We see digital banking is gaining ground as customers learn more about the benefits of these services. This extension will encourage more customers to use digital channels," PNB President and Chief Executive Officer Wick Veloso said in a statement.

Veloso said the bank sees an "upward trend" in digital transactions as more customers enroll for online accounts and are getting used to transacting through their smartphones and computers.

• Metrobank waives fees for Instapay, PESONet until March 31
• ChinaBank, UnionBank extend free interbank transfer until Mar 31, RCBC until Jan 31

ChinaBank, Unionbank, and Metrobank earlier announced they were also waiving fees for interbank transfers until March 31.

RCBC, on the other hand, also said it will extend the same free service only until Jan. 31.

Other banks earlier said that they will charge Instapay and PESONet transfer fees after Dec. 31.

• LIST: Banks that are waiving online transfer fees until yearend