RCBC waives InstaPay fees for eligible transfers starting July 4

Customers can send money to other banks and e-wallets for free through eligible RCBC Pulz and all DiskarTech person-to-person transactions as competition in digital banking intensifies.

RCBC is joining the growing list of banks dropping digital transfer fees, removing InstaPay charges for eligible person-to-person transactions as competition in digital banking heats up and cashless payments become increasingly common.

Beginning July 4, customers using RCBC Pulz can send at least ₱100 to other banks, e-wallets and financial institutions for free up to 30 times each month. Transfers below ₱100, or those exceeding the monthly limit, will carry a ₱10 fee. Meanwhile, all person-to-person InstaPay transfers made through DiskarTech will remain free, with no minimum transaction amount and no monthly cap.

Transfer fees may seem small, but they can quickly add up for people who regularly split bills, send allowances, pay freelancers, transfer money between their own accounts or make payments to small businesses. Removing those charges lowers the cost of using digital banking and gives customers one less reason to rely on cash.

The announcement also signals that banks are competing on more than just interest rates and app features. Pricing has become another battleground as financial institutions look to attract and retain digital users while supporting the country’s push toward wider electronic payments.

RCBC’s move comes just days after BPI, one of the country’s largest banks, also began offering free InstaPay transfers starting July 1, adding momentum to a trend that could put pressure on more banks to rethink long-standing transfer fees.

READ: