The Banko Sentral ng Pilipinas (BSP) has released an updated list of banks with waived PESONet and InstaPay fees.
A couple of banks have extended the duration of waived fees when you transact or do bank transfers with them through PESONet and InstaPay services. You can check the list below.
Banks with waived PESONet fees
Until December 31, 2023
- BPI Direct BanKO, Inc., A Savings Bank (retail)
- CIMB Bank Philippines
- Country Builders Bank, Inc.
- East West Bank
- GoTyme Bank Corporation
- HSBC Savings Bank (retail)
- HSBC (retail)
- Land Bank of the Philippines
- Maya Bank, Inc.
- Philippine Business Bank, Inc.
- PayMongo Payments, Inc.
- Rural Bank of Guinobatan
- SeaBank Philippines, Inc.
- Tonik Didigtal Bank, Inc.
- Union Bank of the Philippines (retail)
Banks with waived InstaPay fees
Until November 11, 2023
- Union Bank of the Philippines
Until December 31, 2023
- BPI Direct BanKO, Inc., A Savings Bank
- Bank of the Philippine Islands
- CIMB Bank Philippines
- GoTyme Bank Corporation
- Land Bank of the Philippines
- Maya Bank, Inc. (Business Deposit)
- Metropolitan Bank and Trust Company
- Rural Bank of Guinobatan
- SeaBank Philippines, Inc.
- Tonik Digital Bank, Inc.
If you’re having issues with either services or prefer a physical method, you can transact using ATM. But, bear in mind that different transactions with different banks will have their respective ATM fees.