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.
Banks earn from deposits while e-wallets cannot, which makes fees more material.
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.
Banking firms accounted for over a third of the 2026 ranking as the combined value of the country’s top 50 brands climbed 11% to $35.3 billion.
