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Complete List of PESONet and InstaPay Transfer Fees

Find out how much your bank will charge you for interbank fund transfers

Luis Reginaldo Medilo by Luis Reginaldo Medilo
December 25, 2020
in Fintech
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Transferring money from one bank to another is fast, easy and convenient nowadays, thanks to the Internet. In the Philippines, interbank fund transfers are usually facilitated through the PESONet and InstaPay electronic funds transfer (EFT) services. In this article, we’ll talk about these EFT services and the corresponding PESONet and InstaPay fees by bank and e-wallet.

In the past, if you want to transfer money between two bank accounts, you had to manually withdraw the money and deposit the cash into the recipient’s bank account. You could imagine how tedious and time-consuming that is. But thanks to the Internet, that is now all a thing of the past.

EFT services like PESONet and InstaPay have made it possible to transfer money electronically from your bank account to another account at a different bank. For example, you can transfer money from BDO to BPI. You only have to login to the BDO online banking website or mobile app and then provide the recipient’s bank account details in order to transfer the money. All you need is a computer or smartphone with an Internet connection.

With PESONet and InstaPay, you don’t have to visit the bank to transfer money or make a payment to another bank account. You don’t have to wait for several days either. Electronic fund transfers are usually completed in real time for InstaPay, or in the case of PESONet, up to two banking days.

Fund transfers can also be done over-the-counter at a participating bank. Over-the-counter transfers enjoy the same benefits as online fund transfers, only that the sender personally deposits the money at the bank and then the bank performs the transfer for him.

But just like any other banking transaction, online fund transfers may cost you a small transaction fee. Many banks have waived the imposition of transfer fees during the general community quarantine, but some have announced the resumption of fees in 2021. In this regard, we’ve come up with an updated list of PESONet and InstaPay fees corresponding to each bank and e-wallet.

Table of PESONet and InstaPay Transfer Fees

The PESONet and InstaPay transfer fees in this table are valid and applicable until December 31, 2020. You can use the search box below for easily look up your bank or e-wallet (e.g. BDO, BPI, GCash). You can also sort the data from the lowest to the highest amounts or vice versa.

Bank or E-WalletPESONet FeeInstaPay Fee
Al-Amanah Islamic Investment Bank of the Philippines₱55N/A
AllBank, Inc.FreeFree
Asia United Bank CorporationFreeFree
Australia and New Zealand Banking Group, Ltd.₱0 - ₱300N/A
Bangkok Bank Public Co. Ltd.₱150 - ₱250N/A
Bank of America, N.A.₱20 - ₱2,100N/A
Bank of China, Ltd. Manila BranchFreeN/A
Bank of CommerceFreeFree
Bank of Florida, Inc.₱50N/A
Bank of the Philippine Islands (BPI)₱0 - ₱50₱0 - ₱25
BDO Unibank, Inc.₱0 - ₱50₱25
BDO Network Bank, Inc.₱100 - ₱500Receiver only
BPI Direct Banko, Inc., A Savings Bank₱0 - ₱50₱0 - ₱25
Camalig Bank, Inc.₱20 - ₱500N/A
Card Bank, Inc.N/AFree
Cebuana Lhuillier Rural Bank, Inc.FreeFree - ₱15
China Bank Savings, Inc. FreeFree
China Banking CorporationFreeFree
CIMB Bank Philippines, Inc.FreeN/A
Citibank, N.A₱0 - ₱100N/A
Country Builders Bank, Inc.FreeN/A
CTBC Bank (Philippines) CorporationFreeFree
DCPay Philippines Inc. (Coins.ph)Free - ₱5₱10
Deutsche Bank AG₱10 - ₱2,000N/A
Development Bank of the Philippines (DBP)FreeReceiver only
Dungganon Bank, Inc.₱10₱10
East West Banking CorporationFreeFree
East West Rural Bank, Inc.FreeFree
Equicom Savings Bank, Inc.FreeFree
First Consolidated Bank, Inc.₱15 - ₱300N/A
G-Xchange Inc. (GCash)N/A₱15
Gpay Network PH, Inc. (GrabPay)N/AFree
HSBC Savings Bank, Inc. (HSBC SB)Free - ₱50N/A
Industrial Bank of Korea₱200N/A
ING Bank N.V. Manila BranchFreeFree
JP Morgan Chase Bank, N.A.Free - ₱125N/A
KEB Hana Bank - Manila Branch$10.00 - $105.00
(Peso equivalent)
N/A
Land Bank of the PhilippinesFreeFree
Malayan Bank Savings and Mortgage₱50₱15
Maybank Philippines, Inc.$15.00
(Peso equivalent)
Free - ₱40
Mega International Commercial Bank Co., Ltd.$10.00
(Peso equivalent)
N/A
Metropolitan Bank and Trust CompanyFreeFree
Mizuho Bank, Ltd. - Manila Branch₱50N/A
MUFG Bank, Ltd.₱250N/A
PayMaya Philippines Inc.N/AFree - ₱10
Philippine Bank of Communications (PBCom)₱15 - ₱500₱1 - ₱20
Philippine Business BankFreeReceiver only
Philippine National Bank (PNB)FreeFree
Philippine Savings Bank (PSBank)FreeFree
Philippine Trust CompanyFreeN/A
Philippine Veterans BankFreeReceiver only
Producers Savings Bank Corporation₱100 - ₱500N/A
Rizal Commercial Banking Corporation (RCBC)FreeFree
Robinsons Bank Corporation (RBC)₱1 - ₱100₱1 - ₱25
Rural Bank of Guinobatan, Inc.FreeFree
Security Bank Corporation (SBC)Free - ₱20Free - ₱15
Shinhan Bank Manila₱100N/A
Standard Chartered BankFreeN/A
StarPay CorporationFreeN/A
Sterling Bank of Asia, Inc.FreeFree
Sumitomo Mitsui Banking Corporation - Manila Branch₱250N/A
Sun Savings BankN/A₱10
The Hongkong & Shanghai Banking Corporation (HSBC)Free - ₱50N/A
Union Bank of the PhilippinesFree - ₱100Free - ₱30
United Coconut Planters Bank (UCPB)Free - ₱150Free
United Overseas Bank Limited, Manila BranchMin. ₱775N/A
Yuanta Savings Bank Philippines, Inc.₱100Receiver only

The fees listed in the table are collected from the Bangko Sentral ng Pilipinas website and are subject to change without prior notice. We suggest visiting your bank’s website or mobile app to confirm that the PESONet or InstaPay fees are correct before performing a fund transfer.

We will update the list as soon as there are any additions or changes in the fees.

Tags: InstaPayonline bankingPESONet
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Luis Reginaldo Medilo

Luis Reginaldo Medilo

Luis is the founder and editor of Tech Pilipinas. He is passionate about technology and how it can change the world for the better.

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