BDO and PSBank begin offering free InstaPay and PESONet transfers on July 9, while Security Bank follows on July 10, joining a growing list of banks waiving interbank transfer fees.
BDO, Security Bank, and Philippine Savings Bank (PSBank) have separately announced that they will waive InstaPay and PESONet transfer fees, adding to the growing number of banks offering free interbank transfers.
BDO and PSBank began offering free transfers on July 9, while Security Bank’s fee waiver takes effect on July 10.
They join BPI, RCBC, UnionBank, LandBank, Metrobank, Philippine National Bank, and MariBank, which have also rolled out free fund transfers since July 1.
With the latest announcements, only a few major banks have yet to introduce similar fee waivers, including Chinabank and EastWest Bank.
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