#Bank List Waived Fees

Bangko Sentral ng Pilipinas (BSP) has recently released the most recently updated list of banks with an extended waiver of fees for PESONet and InstaPay, as of January 8, 2021. The following banks are extending their waiver of fees for PESONet transactions. Meanwhile, the mentioned banks below are extending their waiver of fees for InstaPay transactions. UnionBank has removed transaction fees for person-to-person fund transfers made through InstaPay, with the new policy taking effect today, July 7, 2026. With this change, UnionBank joins other commercial banks in the Philippines that have also removed fees for real-time digital fund transfers. According to UnionBank, the zero-fee InstaPay service is now part of its list of free digital banking features available through the UnionBank Online app. More banks in the Philippines have been removing InstaPay transfer fees as digital banking services continue to become more competitive. 1238, allowing banks to set their own transfer fees. Read more in our articles including "BSP updates bank list with extended waiver of fees for PESONet and InstaPay" and "UnionBank removes InstaPay transfer fees".