grabpay transfer fee

Ride-hailing super app Grab on Friday said it has pending approval before the Bangko Sentral ng Pilipinas (BSP)  to apply Php 15.00 transfer fee for InstaPay transactions from GrabPay to other banks and e-wallets starting on July 18, 2022. Although transfers to other GrabPay wallets will remain free of charge, according to their press release. Other banks, e-money issuers, and e-wallets have earlier implemented InstaPay transfer fees after waiving such charges during the height of COVID-19 pandemic. That means faster transfers but possibly added fees depending on the partner bank or e-wallet. For non-InstaPay transfers, expect a Php15 fee per transaction. SeaBank also clarified that it won’t charge users any fees when using the app’s Mobile Banking page to transfer funds. Bank of the Philippine Islands (BPI) has decreased its InstaPay interbank transfer fee to Php10, but for a limited time only. That’s more than two months during which users can enjoy the lowered transfer fee, down from the original Php25. Read more in our articles including "GrabPay to charge Php 15 InstaPay transfer fee starting July 18" and "SeaBank shifts to InstaPay as default for linked cash-ins, P15 fee applies to non-InstaPay transfers".