instapay

Fees vary by institution and are subject to change. As of recent updates: BPI charges ₱15 for cash-in transactions via InstaPay (effective Oct 1, 2025), while GoTyme Bank offers 20 free InstaPay transfers per month, with subsequent transfers costing ₱9 each. SeaBank defaults to InstaPay for linked cash-ins, with a ₱15 fee applying to non-InstaPay transfers. Historically, GrabPay also began charging a ₱15 InstaPay transfer fee in July 2022.

The Bangko Sentral ng Pilipinas (BSP) is implementing several key improvements. First, it has mandated faster refunds for failed transactions: InstaPay refunds must be credited within 1 hour starting January 2025, and fees for such failed transactions will be eliminated. Second, the BSP is extending the operating hours of the national payment system (PhilPaSS Plus) to 24/7 beginning 2026, which will support round-the-clock InstaPay services. The BSP has also expressed a desire for banks to remove fees for small transactions (around ₱200-₱500) to encourage digital adoption.

Several institutions have promoted free InstaPay transfers. GoTyme Bank currently provides 20 free InstaPay transfers per month. Tonik Bank has offered free sending and receiving of money via InstaPay. SeaBank offers up to 15 free transfers weekly (though this is a general transfer allowance, not exclusively for InstaPay). GCash confirmed no additional fees for direct cash-ins via InstaPay as per the BSP directive, though partner banks may charge their own fees.