Image by mohamed_hassan via Pixabay
These days most payment transactions are now done online. Back then, it was a different process and a lengthy one, you need to go to Bank A to get your cash thru over counter or ATM withdrawal and deposit it to Bank B. Now thanks to the advancement of electronic fund transfer services we now have Instapay and Pesonet in just one tap you can transfer your money to another bank account.
Here is the full list of all convenience fees published by Bangko Sentral ng Pilipinas (BSP) for bank transfers for Instapay and Pesonet.
| INSTAPAY | FEES |
| AllBank, Inc. | P15 |
| Asia United Bank Corporation | P8 |
| Bank of Commerce | P15 – P25 |
| Bank of the Philippine Islands (BPI) | P0 – P25 |
| BDO Unibank, Inc. | P25 |
| BanKo, A Subsidiary of BPI | P0 – P25 |
| Card Bank, Inc. | P12 |
| Cebuana Lhuillier Rural Bank, Inc. | P15 |
| China Bank Savings, Inc. | P10 |
| China Banking Corporation | P10 – P25 |
| CTBC Bank Philippines Corporation | P15 |
| DCPay Philippines | P10 |
| Dungganon Bank, Inc. | P10 |
| East West Banking Corporation | P10 |
| East West Rural Bank, Inc. | FREE |
| G-Xchange Inc. (GCash) | P15 |
| Land Bank of the Philippines | P25 |
| Malayan Savings Bank | P15 |
| Maybank Philippines, Inc. | P10 |
| Metropolitan Bank and Trust Company (Metrobank) | P25 |
| Philippine Bank of Communications (PBCOM) | P20 |
| Philippine National Bank (PNB) | P15 – P20 |
| Philippine Savings Bank (PSB) | P15 |
| Rizal Commercial Banking Corporation (RCBC) | P8 – P25 |
| Robinsons Bank Corporation | P10 – P25 |
| Security Bank Corporation | P20 – P25 |
| Standard Chartered Bank | P25 |
| StarPay Corporation | P15 |
| Sterling Bank of Asia | P15 |
| Sun Savings Bank | P10 |
| Union Bank of the Philippines | P10 – P30 |
| Wealth Development Bank Corporation | P15 |
| Zybi Tech, Inc. | P8 |
| PESONET | FEES |
| AllBank, Inc. | P25 |
| Asia United Bank Corporation | P8 |
| Australia and New Zealand Banking Group, Ltd. | P0 – P400 |
| Bangkok Bank Public Co. Ltd. | P150 – P250 |
| Bank of America, N.A. | P20 – P2,100 |
| Bank of China, Ltd. Manila Branch | P30 |
| Bank of Commerce | P15 – P25 |
| Bank of Florida, Inc. | P50 |
| Bank of Makati, Inc. | P50 – P300 |
| Bank of the Philippine Islands (BPI) | P0 – P50 |
| BDO Unibank, Inc. | P0 – P50 |
| BDO Network Bank, Inc. | P100 – P500 |
| BanKo, A Subsidiary of BPI | P0 – P50 |
| Camalig Bank, Inc. | P20 – P500 |
| Cathay United Bank Co., Ltd. Manila Branch | P200 |
| Cebuana Lhuillier Rural Bank, Inc. | P50 |
| China Bank Savings, Inc. | P20 – P50 |
| China Banking Corporation | P20 – P200 |
| CIMB Bank Philippines, Inc. | FREE |
| Citibank, N.A. | P100 |
| Country Builders Bank, Inc. | FREE |
| CTBC Bank (Philippines) Corporation | P25 |
| DCPay Philippines, Inc. | P0 – P5 |
| Deutsche Bank AG | P10 – P2,000 |
| Development Bank of the Philippines | FREE |
| Dungganon Bank, Inc. | P10 |
| East West Banking Corporation | FREE |
| East West Rural Bank, Inc. | FREE |
| Equicom Savings Bank, Inc, | P0 – P15 |
| First Consolidated Bank, Inc. | P15 – P550 |
| HSBC Savings Bank, Inc. | P0 – P1,500 |
| Industrial Bank of Korea | P200 |
| ING Bank N.V. Manila Branch | FREE |
| Innovative Rural Bank | P150 |
| JP Morgan Chase Bank, N.A. | P0 – P125 |
| KEB Hana Bank – Manila Branch | $5 (PHP equivalent) |
| Land Bank of the Philippines | P15 – P150 |
| Malayan Savings Bank, Inc. | P50 |
| Maybank Philippines, Inc. | P30 |
| Mega International Commercial Bank Co., Ltd. | $10 (PHP equivalent) |
| Metropolitan Bank and Trust Company (Metrobank) | P50 |
| Mizuho Bank, Ltd. – Manila Branch | P50 |
| MUFG Bank, Ltd. | P250 – P350 |
| Philippine Bank of Communications (PBCOM) | P15 – P500 |
| Philippine Business Bank | FREE |
| Philippine National Bank (PNB) | P20 – P50 |
| Philippine Savings Bank (PSB) | P50 |
| Philippine Trust Company | P50 |
| Philippine Veterans Bank | P500 |
| Producers Savings Bank Corporation | P100 – P500 |
| Rizal Commercial Banking Corporation (RCBC) | P10 |
| Robinsons Bank Corporation | P20 – P100 |
| Rural Bank of Guinobatan, Inc | FREE |
| Security Bank Corporation | P15 – P50 |
| Shinhan Bank Manila | P100 |
| Standard Chartered Bank | P50 |
| Sterling Bank of Asia, Inc. | P15 – P30 |
| Sumitomo Mitsui Banking Corporation – Manila Branch | P250 |
| Tonik Digital Bank, Inc. | FREE |
| Union Bank of the Philippines | P0 – P100 |
| Wealth Development Bank Corporation | P30 – P100 |
| Yuanta Savings Bank Philippines, Inc. | P100 |
| Zybi Tech, Inc. | P30 |
List banks with waived INSTAPAY fees
Until June 30, 2022
- Equicom Savings Bank (retail clients)
Until July 22, 2022
- Rural Bank of Guinobatan
Until December 31, 2022
- ING Bank, N.V.
List banks with waived PESONET fees
Until June 30, 2022
- Equicom Savings Bank (retail clients)
Until July 22, 2022
- Rural Bank of Guinobatan
Until December 31, 2022
- Bank of China
- CIMB Bank Philippines
- East West Bank
- HSBC (retail clients)
- ING Bank, N.V.
- Philippine Business Bank, Inc.
- Tonik Digital Bank, Inc.
- Union Bank (retail clients)
