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Manila Bulletin devider Business devider Banking & Finance devider BPI InstaPay standardized at ₱15: Expect higher cash-in fees by Oct.

BPI InstaPay standardized at ₱15: Expect higher cash-in fees by Oct.

Published Sep 29, 2025 12:50 pm  |  Updated Sep 29, 2025 04:01 pm
The Bank of the Philippine Islands (BPI) has announced a standardized ₱15 service fee for all inter-institution cash-in transactions made via InstaPay, effective Oct. 1.
In a statement, the Ayala-led bank said the new fee will apply to all cash-in transfers, including those sent to popular e-wallets and digital accounts like GCash. Currently, cashing in from a BPI account to GCash via the e-wallet app costs only ₱5.
BPI stated that this adjustment is in compliance with a Bangko Sentral ng Pilipinas (BSP) directive aimed at improving interoperability and transparency across the digital financial ecosystem.
This standardization also follows a similar implementation for transactions involving ShopeePay and SeaBank in August 2025.
BPI explained that the new charge is necessary to cover additional operating expenses, including the clearing costs mandated by BancNet, which serves as the designated clearing switch operator for the InstaPay network.
While adopting the standard fee for general InstaPay cash-in services, BPI highlighted several options that allow customers to continue enjoying lower or zero fees for their digital fund transfers:
Lower fee via BPI app
Customers can transfer funds directly from the BPI App to GCash via InstaPay for a reduced fee of ₱10. Furthermore, select customer segments and merchant payments will continue to benefit from free transfers.
Zero-fee transfer via BPI #MySaveUp
For a completely free option, customers can open a BPI #MySaveUp account through the GCash app, which requires no maintaining balance. Funds transferred from the BPI app to the GSave account will incur zero fees and can then be withdrawn to the GCash e-wallet.
In a separate statement, GCash confirmed that it is moving direct cash-in transactions to the InstaPay platform starting Oct. 1, in compliance with a regulatory directive, but will not charge its users any additional fees for the change.
GCash noted that the shift for certain direct cash-in transactions follows a directive from the BSP for all online banks and e-wallets to adopt InstaPay.
The BSP's mandate aims to ensure faster, safer, and more transparent fund transfers across the country. GCash said it will not charge any direct cash-in fees under the new InstaPay model.
The transition to the new system will begin on Tuesday, Oct. 1, which is when some direct cash-in transactions will be routed through InstaPay. The change is being implemented nationwide, affecting users who utilize the direct cash-in feature with their linked online bank accounts.
GCash said it understands that changes like these may affect the customer experience, and it remains committed to keeping its services safe, seamless, and affordable.
To manage the transition, GCash users are advised that on Monday, September 30, their chosen cash-in online bank account(s) will be delinked from their GCash app.
Users will need to manually relink their accounts by tapping “Cash In” then “Local Banks,” selecting “Link Bank Account,” and choosing their respective bank.
The company added that some partner banks may adjust their own service fees depending on their policies related to this shift, and advised users to check with their banks for transition schedules and updated service fees, planning their cash-in transactions accordingly.
GCash noted that it will continue working with partner banks and regulators to serve its users better.

Related Tags

Bangko Sentral ng Pilipinas (BSP) Bank of the Philippine Islands (BPI) Instapay
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