#bank transfer fees

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. The move positions Metrobank among local banks offering more affordable digital transfer options, as competition continues to intensify in the Philippine digital banking space. According to the BSP, the decision follows the implementation of zero fees for small merchant payments and the establishment of a pricing framework for person-to-person electronic fund transfers. The central bank also emphasized that digital payment fees are expected to be lower than charges for manual or over-the-counter transactions because electronic channels are generally more efficient and cost-effective to operate. Finance Secretary Frederick Go also expressed support for lower digital transaction costs, noting that some transfer fees can still reach as high as PHP 50. In a Facebook reel, GoTyme Bank has announced that they now offer 20 free InstaPay transfers per month. ‘With a firm understanding of how Filipinos use and move their money across various banks and e-wallets, GoTyme Bank now offers 20 free InstaPay transfers per month to all customers,’ GoTyme said. Read more in our articles including "Metrobank cuts InstaPay transfer fee to ₱8 flat starting February 1" and "Banks, e-wallets face new BSP rules on digital payment fees".