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Manila Bulletin devider Business devider Banking & Finance devider BPI makes ₱10 InstaPay transfer fee permanent

BPI makes ₱10 InstaPay transfer fee permanent

Published Jun 2, 2025 12:25 pm

Nearly three months after launching a promotional ₱10 transaction fee, Ayala-led Bank of the Philippine Islands (BPI) has decided to keep the lower fee as a permanent feature for interbank fund transfers (IBFT) carried out via InstaPay, due to strong customer demand.

The BPI has announced in a statement released on Monday, June 2, that the lower ₱10 Instapay fee will become “a permanent feature for inter-bank fund transfers made through the BPI app and BPI online.” This took effect on Sunday, June 1.

“In response to strong customer demand and positive feedback, BPI is making this benefit a permanent feature beyond the initial promotional period,” the BPI said.

Maria Cristina Go, BPI head of consumer banking, noted that the response to the bank’s promotion last March was “very positive.” Go said this was evident in “increased transactions through our online and mobile banking channels.”

The BPI said that this decision reflects the bank’s “commitment to making digital financial services more affordable for its customers—offering one of the lowest transfer fees in the industry.”

Go said the move was also part of the bank’s commitment to deliver “convenient, secure, and cost-efficient digital services” that would help Filipinos manage their finances “more effectively.”

“With this update, users can continue to enjoy real-time, low-cost InstaPay transfers anytime, anywhere via the BPI app and BPI online,” the bank said.

The BPI earlier introduced the lower transaction fee as a promotional rate “to encourage customers to use digital platforms to manage their money.”

It particularly covered all bank’s customers who use the BPI app, BPI online, or BizKo. From ₱25 fee, the BPI slashed its InstaPay IBFT fee by ₱15 to ₱10 per transaction.

“By making the rate permanent, BPI supports greater financial inclusion and helps customers keep more of their money where it matters—especially when making frequent interbank fund transfers,” the BPI said.

Related Tags

Bank of the Philippine Islands (BPI) Instapay
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