Chinabank has removed transfer fees for InstaPay and PESONet transactions made through the My CBC app and My CBC Online, effective July 9, 2026. Customers sending money to other banks or e-wallets through either platform will no longer be charged.
This puts Chinabank on a growing list of Philippine banks eliminating transfer fees this month. BPI waived its InstaPay and PESONet charges on July 1. UnionBank and Landbank followed on July 7, and Metrobank did the same on July 9. PNB is scheduled to join on July 10. The changes trace back to Bangko Sentral ng Pilipinas Circular No. 1238, which in June lifted a nearly five-year moratorium on InstaPay and PESONet fee changes and directed banks toward reasonable, cost-based pricing for digital transfers.
Chinabank previously charged ₱10 per InstaPay transfer and ₱20 per PESONet transfer through My CBC, with a promotional ₱5 InstaPay rate running through September 30, 2026. The new policy replaces both charges with zero fees across the board.
To use the fee-free transfers, customers register on My CBC with a Savings, Checking, or Credit Card account. Beyond InstaPay and PESONet, the app supports QR code payments, bill payment, and check deposit by photo. Deposits are insured by the Philippine Deposit Insurance Corporation (PDIC) up to ₱1 million per depositor. Chinabank is regulated by the Bangko Sentral ng Pilipinas; customers can reach its hotline at +632 888-55-888.
Unlike some competitors, Chinabank’s waiver carries no transaction cap or minimum transfer amount. RCBC’s free InstaPay transfers, by comparison, are limited to 30 a month with a ₱100 minimum per transaction, and some digital banks cap free transfers at a set number per week or month. BSP officials have said institutions are not expected to impose volume limits simply to work around the intent of the new pricing rules.
No end date has been announced for Chinabank’s fee waiver. The bank’s earlier ₱5 InstaPay promotion ran on a fixed schedule with regulatory approval from the Department of Trade and Industry; whether the zero-fee policy will follow a similar structure has not been specified in available materials.
