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Manila Bulletin devider Business devider Banking & Finance devider RCBC joins list of banks offering free InstaPay transfers

RCBC joins list of banks offering free InstaPay transfers

Published Jul 3, 2026 10:23 am
Yuchengco-led Rizal Commercial Banking Corp. (RCBC) will eliminate fees for its real-time digital fund transfers starting July 4, joining a broader industry push to spur electronic retail payments in the country.
In a statement on Friday, July 3, RCBC said the lender will offer zero-fee transfers via the InstaPay network across its primary digital platforms, RCBC Pulz and RCBC DiskarTech.
The policy follows similar fee-waiving initiatives by major local competitors including Bank of the Philippine Islands (BPI) and Land Bank of the Philippines, as commercial banks align with central bank directives to broaden financial inclusion.
Under the new pricing structure, retail users of the premium RCBC Pulz application can execute up to 30 free transactions monthly, provided individual transfers are valued at a minimum of 1₱100.
Transactions falling below that threshold or exceeding the monthly allocation will incur a standard fee of ₱10. For the bank’s financial inclusion app, RCBC DiskarTech, all person-to-person transfers via InstaPay will be completely free, with no transaction limits or minimum volume caps.
The pricing shift aligns with Bangko Sentral ng Pilipinas Circular No. 1238, an regulatory mandate encouraging financial institutions to implement transparent, market-based fee models for electronic funds transfers.
“Offering free InstaPay transfers through both RCBC Pulz and DiskarTech reflects our commitment to delivering practical solutions that create everyday value for our customers while advancing the country's digital transformation,” Reginaldo Anthony Cariaso, RCBC president and chief executive officer, said.
He added that removing transfer fees eliminates a critical barrier to mainstream adoption and helps consumers build consistent digital financial habits.
RCBC, currently one of the largest universal banks in the country by assets, has increasingly relied on its digital platforms to scale its retail footprint. Beyond standard peer-to-peer transfers, the RCBC Pulz ecosystem provides foreign exchange capabilities in eight major global currencies, unit investment trust funds, credit management tools, and a virtual United States account service targeting overseas workers.
Meanwhile, the DiskarTech platform, operated in tandem with state entities like the Social Security System, targets unbanked segments via features such as micro-savings, mobile loading, and public pension card integrations.

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Rizal Commercial Banking Corp. (RCBC) Instapay
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