#bank transfer fee

GCash has reduced its InstaPay bank transfer fee from PHP 15 to PHP 10, effective July 4, making digital fund transfers more affordable for its users. The circular requires banks and financial service providers to ensure that the difference between interbank and intrabank transfer fees reflects only the actual cost of processing transactions through payment networks. The BSP earlier said it expects more banks and financial institutions to adjust their transfer fees to align with the new guidelines. Prior to GCash's announcement, Rizal Commercial Banking Corporation (RCBC) also confirmed that it would waive InstaPay transfer fees beginning July 4. Metrobank has announced a significant reduction in its InstaPay transfer fees, introducing a new flat rate of ₱8 per transaction beginning February 1, 2026. Previously, Metrobank charged ₱25 per InstaPay transfer, although the bank had waived fees for transactions worth ₱1,000 and below over the past year. With the new pricing structure, all InstaPay transfers—regardless of amount—will now carry the ₱8 service fee, simplifying costs for users. The updated fee applies exclusively to transactions made through the new Metrobank App, prompting the bank to advise customers to update their app to the latest version to ensure the revised charges are reflected properly. Read more in our articles including "GCash cuts InstaPay bank transfer fee from PHP 15 to PHP 10" and "Metrobank cuts InstaPay transfer fee to ₱8 flat starting February 1".