#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. 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. 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. The removal of transfer fees comes ahead of BPI's 175th anniversary on Aug. Metrobank has announced a significant reduction in its InstaPay transfer fees, introducing a new flat rate of ₱8 per transaction beginning February 1, 2026. Previously, Metrobank charged ₱25 per InstaPay transfer, although the bank had waived fees for transactions worth ₱1,000 and below over the past year. Read more in our articles including "GrabPay to charge Php 15 InstaPay transfer fee starting July 18" and "BPI to remove InstaPay, PESONet transfer fees starting July 1".