Philippine National Bank (PNB) will waive fees on InstaPay and PESONet domestic fund transfers made through PNB Digital starting July 10, 2026, the bank announced. The move is part of the bank’s celebration of its 110th year in operation.
PNB was established by the Philippine government on July 22, 1916, making 2026 its 110th anniversary year. In a Facebook announcement, the bank said the fee waiver would begin ahead of the actual anniversary date, framing the offer as an early start to a “110 years of moving forward, together” campaign.
The waiver covers domestic fund transfers made through PNB Digital, the bank’s mobile banking application. PNB has not specified an end date for the promotion or indicated whether it will become a permanent fee structure.
The announcement places PNB among a growing number of Philippine banks that have removed InstaPay and PESONet transfer fees in recent weeks. Bank of the Philippine Islands (BPI) waived both fees starting July 1. Rizal Commercial Banking Corp. (RCBC) followed on July 4, offering free InstaPay transfers via its RCBC Pulz app, capped at 30 free transactions monthly with a ₱100 minimum. Land Bank of the Philippines and UnionBank both dropped their InstaPay and PESONet fees starting July 7.
The wave of fee removals follows Bangko Sentral ng Pilipinas (BSP) Circular No. 1238, issued June 17 and effective July 4, which lifted a moratorium on electronic fund transfer pricing and requires banks to keep interbank transfer fees close to the actual network “switch cost,” estimated by the BSP at approximately ₱1.50 per transaction. Under the circular, banks that already offer free intrabank transfers may charge no more than that amount for transfers to other institutions.
InstaPay is used for real-time transfers of up to ₱50,000 and is common for retail transactions, while PESONet handles higher-value transfers processed in batches and settled within the same banking day.
PNB’s fee waiver takes effect July 10, ahead of the bank’s formal anniversary date of July 22.
