Digital banks and e-wallets are truly a big thing nowadays, especially during the pandemic. With these digital platforms present in the Philippines, people can take advantage of various perks such as online apps, cashless fund transfers, higher interest rates, and the like. However, transferring of funds has daily/monthly limits too. So to guide you, here are the transaction/transfer limits of the digital banks and e-wallets in the Philippines.
| DIGITAL BANKS & E-WALLETS IN THE PHILIPPINES | TRANSACTION/TRANSFER LIMITS |
|---|---|
| BDO | • Transfer to other BDO accounts - PHP 50,000/day • Transfer via InstaPay - PHP 50,000/day |
| BPI | PHP 50,000/day |
| CIMB | • Transfer to own CIMB account - No limit • Transfer to other CIMB accounts - PHP 500,000/day • Transfer to other bank via PESONet - PHP 500,000/day • Transfer to other bank via DragonPay - PHP 500,000/day |
| DISKARTECH | PHP 50,000/day |
| HELLOMONEY (AUB) | PHP 200,000/month |
| GCASH | • INCOMING - Basic - PHP 10,000/month - Fully Verified - PHP 100,000/month - GCash Plus - PHP 500,000/month - Enterprise - PHP 500,000/month • OUTGOING - Basic - No limit/day | PHP 10,000/month - Fully Verified - PHP 100,000/day | No limit/month - GCash Plus - PHP 100,000/day | No limit/month - Enterprise - PHP 100,000/day | No limit/month |
| KOMO | • Transfer to other KOMO accounts - PHP 500,000/day • Transfer to other banks - PHP 200,000/day per recipient - PHP 50,000 per transaction |
| ING PHILIPPINES | • Transfer to other ING accounts - No limit • Transfer to other banks via PESONet - PHP 1,000,000/day • Transfer to other banks via InstaPay - PHP 50,000/transfer |
| MAYBANK ISAVE | PHP 50,000/day PHP 10,000 per transaction |
| OFBANK | PHP 50,000/day |
| PAYMAYA | • Transfer to other PayMaya users - PHP 100,000/day (Upgraded) | PHP 500,000/day (Super Users) - PHP 20,000 per transaction • Transfer via InstaPay - PHP 50,000/day | PHP 100,000/month | 20x/month (Upgraded) - PHP 50,000/day | PHP 500,000/month | 40x/month (Super Users) |
| PBCOM | PHP 50,000/day |
| TONIK DIGITAL BANK | • Transfer to other Tonik accounts - PHP 1,000,000/day • Transfer via PESONet - PHP 250,000/day • Transfer via INSTAPAY - PHP 50,000/day |
| UNIONBANK | PHP 500,000/day |
Most of these digital banks/e-wallets impose transfer limit of PHP 50,000/daily.
ING Philippines has no transaction limits for transfers to other ING Philippines accounts and up to PHP 1,000,000/day for transfers to other banks via PESONet. Further, Tonik also supports up to PHP 1,000,000/day for transfers to other Tonik accounts.
Meanwhile, UnionBank has a limit of up to PHP 500,000/day, which you may also change anytime under Settings > Transaction Limits. Similarly, KOMO and CIMB support transfer of up to PHP 500,000/day to other KOMO and CIMB accounts, respectively.
So there you have it! All information above are found on their official websites. Take note, though, that banks might not have updated yet these information on their portals. In case we missed anything, please do let us know in the comments.
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It’s almost a year now. Can we have an update for 2022?