#Philippines bank transfer fees

Bank of the Philippine Islands (BPI) has decreased its InstaPay interbank transfer fee to Php10, but for a limited time only. With the promo’s set validity period, it remains to be seen whether the interbank transfer fee will revert to Php25 after May 31, 2025. According to the BSP, the decision follows the implementation of zero fees for small merchant payments and the establishment of a pricing framework for person-to-person electronic fund transfers. The central bank also emphasized that digital payment fees are expected to be lower than charges for manual or over-the-counter transactions because electronic channels are generally more efficient and cost-effective to operate. Finance Secretary Frederick Go also expressed support for lower digital transaction costs, noting that some transfer fees can still reach as high as PHP 50. 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. The move positions Metrobank among local banks offering more affordable digital transfer options, as competition continues to intensify in the Philippine digital banking space. Read more in our articles including "BPI InstaPay transfer fee down to ₱10" and "Banks, e-wallets face new BSP rules on digital payment fees".