State-run lender becomes the latest bank to waive InstaPay and PESONet charges after similar moves by BPI and RCBC.
Landbank has eliminated all InstaPay and PESONet transfer fees through its Mobile Banking App and iAccess beginning July 7, marking its second fee reduction in just over a month after lowering charges to ₱8 in May.
The latest move comes just days after BPI made online fund transfers free on July 1 and RCBC followed on July 4, suggesting competition is increasingly extending beyond deposit rates and lending products to the everyday cost of digital banking.
The growing push toward free transfers raises the bar for banks that continue charging customers for routine transactions. As more major lenders remove transfer charges, zero-fee banking may soon become an industry standard rather than a value-added feature, putting additional pressure on competitors to keep up.
READ:
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