PSBank extends waiver of fees for PaSend, InstaPay and PESONet transfers

PSBank,  the consumer banking arm of the Metrobank Group, has recently announced the extension of its waive fees for PaSend, InstaPay, and PESONet interbank fund transfer.

PSBank customers who will send money through the mobile app and online banking facilities using InstaPay and PESONet to other PSBank accounts and other banks will be free of charge until further notice. Do note that there’s a fund transfer limit to qualify for the free fund transfer. For InstaPay, customers may send up to PHP 50,000USD 852INR 72,230EUR 812CNY 6,205, while PESONet allows customers to send money for free up to PHP 200,000USD 3,408INR 288,920EUR 3,246CNY 24,820 per transaction.  

The PaSend feature, meanwhile, is PSBank’s 24/7 send money service on its mobile app. The cash sent may be withdrawn by the recipient from any PSBank or Metrobank ATM.

The extension aims to encourage customers of cashless fund transfers and maximize the online banking facilities of PSBank.  The initiative also protects its customers’ health to minimize physical contact on banks, bringing convenience to everyone who needs to send money to their loved ones and families. 

Other cashless initiatives of PSBank include opening a Peso Time Deposit on the mobile app, the use of QR Codes for bill payments and transferring funds, and PSBank loan payment from other bank accounts InstaPay.