#GCash bank transfer fee waiver

GCash has announced a temporary waiver of transaction fees for overseas Filipino workers (OFWs) in several Middle East countries. Under the initiative, users can receive a full refund of service fees for selected GCash app services, including bank transfers to Philippine banks, mobile load purchases, and bill payments for Philippine-based billers. 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. UnionBank has removed transaction fees for person-to-person fund transfers made through InstaPay, with the new policy taking effect today, July 7, 2026. With this change, UnionBank joins other commercial banks in the Philippines that have also removed fees for real-time digital fund transfers. Read more in our articles including "GCash waives transaction fees for OFWs in Middle East" and "GCash cuts InstaPay bank transfer fee from PHP 15 to PHP 10".