Philtrust Bank, one of the oldest established commercial lenders in the country, has eliminated transaction fees for all online fund transfers made through major electronic payment networks.

Philtrust announced that retail clients using its digital banking platform can now transfer funds via both InstaPay and PESONet entirely free of charge.

By dropping the fees, Philtrust joins a select group of local financial institutions offering zero-cost retail transfers, aligning with broader regulatory efforts by the Bangko Sentral ng Pilipinas to minimize the cost of digital transactions for consumers.

Prior to the policy shift, customers using the Philtrust Online platform were subject to standard electronic fund transfer fees. Sending money through the real-time InstaPay network, which has a maximum daily limit of ₱50,000, previously incurred a transaction fee of ₱15.

For larger, batch-processed transactions via PESONet, the lender charged ₱25 for transfers up to ₱50,000, and ₱50 for amounts ranging from ₱50,000.01 to the daily limit of ₱100,000.

Under the newly implemented fee structure, these expenses have been completely waived, allowing retail depositors to move funds to other local banks and electronic wallets without eroding their capital.

The central bank has been actively encouraging financial institutions to lower or suspend digital transaction fees to help transition the country into a cash-lite economy.