Bank of Commerce will stop charging fees for InstaPay and PESONet transfers made through its BankCom [Personal] app starting July 17, 2026, the bank announced.
Customers who send money to other banks using InstaPay for instant transfers or PESONet for batch transfers will no longer pay a transaction fee once the change takes effect. The bank said the move is meant to make everyday banking simpler and more affordable for its app users. To use the fee-free service, customers need to download or update the BankCom [Personal] app on the App Store or Google Play.
Bank of Commerce joins a growing list of Philippine lenders that have dropped InstaPay and PESONet charges in recent weeks. BPI removed its fees on July 1, LandBank followed on July 7, and PNB waived its charges on July 10. BDO, Metrobank, PSBank, and Chinabank have also gone fee-free on their digital channels, while RCBC offers free InstaPay transfers on its Pulz app for the first 30 transactions a month. GCash and Maya have separately cut their interbank transfer fees to ₱10.
The wave of fee removals follows BSP Circular No. 1238, issued by the Bangko Sentral ng Pilipinas on June 17 and in effect since July 4. The circular lifted a five-year freeze on changes to InstaPay and PESONet pricing and now requires that any difference between a bank’s intrabank and interbank transfer fees reflect only the actual “switch cost” of routing a transaction through the payment network, estimated at ₱1.50. Rather than introduce a small fee, most banks have chosen to waive interbank charges altogether. BSP data show combined InstaPay and PESONet transactions reached ₱13.1 trillion in value and 3.5 billion in volume as of May 2026, up 44 percent from a year earlier.
Bank of Commerce, an affiliate of San Miguel Corporation, did not specify in its announcement whether the fee waiver applies to PESONet or InstaPay transfers made through channels other than the BankCom [Personal] app, such as over-the-counter branch transactions.
Customers and clients using the BankCom app can begin sending money without transfer charges once the waiver takes effect on July 17.
