BPI to Permanently Waive InstaPay, PESONet Transfer Fees Starting July 1

In a major move for digital banking in the country, the Bank of the Philippine Islands (BPI) has announced that it will permanently eliminate transaction fees for interbank fund transfers made via InstaPay and PESONet beginning July 1.

The policy shift applies across BPI’s primary digital banking channels, providing significant relief to millions of retail consumers and business clients alike.

Broad Digital Platform Coverage

According to reports obtained by InsiderPH, the zero-fee transaction structure will be rolled out natively across BPI's entire modern digital ecosystem. Supported platforms include:

BPI Mobile App: The flagship mobile application for retail banking.

BPI Online: The standard desktop and web banking browser platform.

VYBE: BPI's proprietary digital e-wallet.

BizKo: The dedicated platform optimized for micro, small, and medium enterprises (MSMEs).

To take advantage of the permanent waiver on July 1, individual users are advised to update their applications to the latest build released on June 25 via the Apple App Store, Google Play Store, or Huawei AppGallery.

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Aligning with Central Bank Objectives

The policy update impacts over nine million registered BPI application users, who can now move money to other banking institutions and major e-wallets without facing standard deduction fees.

The decision directly complements recent directives from the Bangko Sentral ng Pilipinas (BSP), which has actively pushed domestic financial entities to lower financial barriers and deploy market-based, customer-friendly pricing structures for peer-to-peer (P2P) electronic fund transfers. BPI noted that this structural shift aims to drive national financial inclusion and accelerate the domestic transition toward a cash-lite economy.

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Milestone Initiative for 175th Anniversary

As the country’s oldest bank prepares for its historic 175th anniversary on August 1, the elimination of electronic transfer fees stands out as one of its most customer-centric digital strategies in recent history.

By removing transaction costs for both real-time clearing networks (InstaPay) and large-batch processing systems (PESONet), BPI reduces everyday friction for consumers, making digital financial management more accessible and affordable for Filipinos nationwide.

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