#Bank of the Philippine Islands

Bank of the Philippine Islands (BPI) will permanently remove transfer fees for InstaPay and PESONet transactions made through its digital banking platforms starting July 1. The move aims to make online banking more affordable and encourage more customers to use digital payment services. According to a report by InsiderPH, the free fund transfers will be available through the BPI mobile app, BPI Online web platform, VYBE e-wallet, and BizKo, the bank's digital banking app for small businesses. The bank said the initiative is intended to make digital financial services more accessible while reducing transaction costs for customers. Customers will be able to transfer money to other banks and supported e-wallets without paying fees using either InstaPay for real-time transfers or PESONet for batch fund transfers. The central bank has been encouraging banks to promote wider use of digital payments and improve financial inclusion. 1 and marks one of the bank's latest efforts to encourage more Filipinos to use digital banking for everyday transactions. This comes after several months since they launched a revamped version of the online banking app in March. Read more in our articles including "BPI to remove InstaPay, PESONet transfer fees starting July 1" and "Old BPI Mobile app will no longer be accessible by October 18".