#GoTyme bank transfer policy

The GoTyme bank transfer update has been announced, implementing a “Pay One, Free One” system. This includes transfers to other local banks and e-wallets. At the time of writing, the digital banking platform still allows users to make up to three free bank transfers weekly. What do you guys think about the GoTyme bank transfer update? The Bangko Sentral ng Pilipinas (BSP) clarified that it never required banks and e-wallets to waive digital fund transfer fees, despite issuing Circular No. BSP implemented Circular 1238 last July 4, 2026, requiring that any gap between intrabank and interbank transfer fees only reflect the cost of routing a transaction through a payment network. BSP pegs this cost, called the "switch cost," at P1.50, meaning banks with free intrabank transfers should charge no more than P1.50 for interbank ones. Since then, several banks have gone ahead and made interbank transfers free entirely, with most of the country's top 20 financial institutions already complying. Read more in our articles including "GoTyme bank transfer update announced" and "BSP clarifies bank transfers need not be free".