#BSP

The change comes as several financial institutions adjust their transfer charges following the implementation of Bangko Sentral ng Pilipinas (BSP) Circular No. The BSP earlier said it expects more banks and financial institutions to adjust their transfer fees to align with the new guidelines. The latest adjustment adds GCash to the growing list of financial service providers lowering digital transfer costs following the BSP's updated policy. The rollout is part of the Paleng-QR Ph Plus program, a joint effort of BSP and DICT to promote the use of QR Ph, the country’s standard system for cashless payments. During the launch event, BSP Deputy Governor Bernadette Romulo-Puyat and DICT Undersecretary Sarah Maria Q. The Bangko Sentral ng Pilipinas (BSP) has introduced new rules aimed at making electronic payment fees fairer and more transparent, while also lifting the moratorium on increases in InstaPay and PESONet transaction charges. M-2026-025 issued on June 17, the BSP announced that the Monetary Board approved the lifting of the fee increase moratorium for InstaPay and PESONet transactions. The move will take effect alongside BSP Circular No. Read more in our articles including "GCash cuts InstaPay bank transfer fee from PHP 15 to PHP 10" and "QR Ph now leads digital payments in the Philippines".