Banks waiving transfer fees during the holiday season: Philippines

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Several banks have waived their PESOnet and Instapay fees for the holiday season, the Bangko Sentral ng Pilipinas said on Tuesday.

Most banks waived their fees until Dec. 31, 2023, with the exception of the Union Bank of the Philippines which will only waive its Instapay fees until Nov. 11, 2023.

These are the banks that will waive their fees during the holiday season:

PESOnet

BPI Direct

Country Builders Bank Inc.

CIMB Bank Philippines

East West Bank

Go Tyme Bank Corporation

HSBC (retail clients)

HSBC (retail savings bank)

Land Bank of the Philippines

Maya Bank, Inc.

PayMongo Payments, Inc.

Rural Bank of Guinobatan

Philippine Business Bank, Inc.

SeaBank Philippines, Inc.

Tonik Digital Bank, Inc.

Union Bank of the Philippines (retail clients)

Instapay

Union Bank of the Philippines

Bank of the Philippine Islands

CIMB Bank Philippines

GoTyme Bank Corporation

Land Bank of the Philippines

Maya Bank, Inc. (Business Deposit)

Metropolitan Bank Trust and Company

Rural Bank of Guinobatan

SeaBank Philpppines, Inc.

Tonik Digital Bank, Inc.

PESONet transfers have no maximum limit and are processed by the end of the day. On the other hand, InstaPay permits real-time transfers of up to P50,000 per transaction.