Now, in a new draft circular, the BSP is seeking feedback from stakeholders on a plan to make person-to-person electronic fund transfers and micro-merchant payments entirely free of charge. Current InstaPay fees for individual transactions range from as low as Php8 up to Php75, while PESONet transfers could cost between Php8 and Php600 for consumers. While the central bank yet to specify the exact maximum amounts, it has indicated that personal fund transfers should not exceed 10 times a week. Notable developments include an Intel investment, which not only injected funding but also gave the team the necessary technical knowledge to evolve their craft further; as well as a partnership with RDA Microelectronics, a company specializing in wireless chips. Read more in our articles including "BSP eyes zero-fee electronic fund transfers, payments to MSMEs" and "Court of Appeals stops refund order of NTC".
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Mar 25, 2026Now, in a new draft circular, the BSP is seeking feedback from stakeholders on a plan to make person-to-person electronic fund transfers and micro-merchant payments entirely free of charge. Current InstaPay fees for individual transactions range from as low as Php8 up to Php75, while PESONet transfers could cost between Php8 and Php600 for consumers.
While the central bank yet to specify the exact maximum amounts, it has indicated that personal fund transfers should not exceed 10 times a week. Notable developments include an Intel investment, which not only injected funding but also gave the team the necessary technical knowledge to evolve their craft further; as well as a partnership with RDA Microelectronics, a company specializing in wireless chips.
Our coverage of electronic fund transfer fees includes: "BSP eyes zero-fee electronic fund transfers, payments to MSMEs"; "Court of Appeals stops refund order of NTC"; "BPI partners with Robinsons Retail for barcode cash deposits in stores". Each article provides unique insights and information.