Metropolitan Bank & Trust Co. (Metrobank) has removed fees for InstaPay and PESONet transfers made through the Metrobank App, effective July 9, 2026, the bank announced on its official Facebook page and website.
All transfers made via InstaPay, used for real-time transactions, and PESONet, used for larger or scheduled transfers, are now free of charge for Metrobank App users. Customers without an existing account can access the zero-fee transfers by opening an eSavings account through the app.
Before the change, Metrobank charged ₱8 per InstaPay transaction – a rate it had lowered from ₱25 in February 2026 – and ₱50 per PESONet transfer. InstaPay allows transfers of up to ₱50,000 per transaction and ₱100,000 per day, while PESONet accommodates transfers of up to ₱200,000, with a same-day processing cutoff of 3 p.m.
The move places Metrobank among a growing list of Philippine banks that have dropped these fees since the Bangko Sentral ng Pilipinas (BSP) lifted its five-year moratorium on InstaPay and PESONet pricing under BSP Circular No. 1238, issued June 17, 2026. Bank of the Philippine Islands (BPI) eliminated the fees on July 1, followed by UnionBank and Land Bank of the Philippines on July 7. Rizal Commercial Banking Corp. (RCBC) introduced 30 free monthly InstaPay transfers on its Pulz app on July 4. Philippine National Bank is set to waive both fees starting July 10.
Under BSP Circular No. 1238, supervised financial institutions must support any transfer fees with cost analyses, and fees charged for transfers between different institutions should not materially differ from those charged for transfers within the same institution.
Digital transfers have grown sharply amid the shift toward zero fees. Combined InstaPay and PESONet transaction values reached ₱13.1 trillion in the first five months of 2026, a 44 percent increase from the same period last year, according to BSP data.
Metrobank did not indicate whether the zero-fee policy extends to transactions made through Metrobank Online or to corporate accounts. Deposits made through the Metrobank app are insured by the Philippine Deposit Insurance Corp. (PDIC) up to ₱1 million per depositor.
