#BPI fund transfer fee

According to the service advisory released by BPI to its customers, it will resume the fund transfer fees to other banks via InstaPay and PESONet and to unenrolled BPI accounts. Customers may still enjoy BPI to BPI transactions through QR code cash transfer, as well as to enrolled third-party account. BPI President and CEO Cezar Consing, who also heads the Bankers Association of the Philippines, shared that by banks will charge clients for online transfers. 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. 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. 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. BPI said the move also supports the Bangko Sentral ng Pilipinas' push for financial institutions to adopt fair and market-based pricing for person-to-person electronic fund transfers. Customers who want to use the free transfer feature through the BPI app should update to the latest version available on the Apple App Store, Google Play Store, or Huawei AppGallery. Read more in our articles including "BPI, other Philippine banks to resume fees for online transfers" and "BPI to remove InstaPay, PESONet transfer fees starting July 1".