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. “Compliance does not require zero fees, nor does it limit off-us P2P electronic fund transfer fees to switch cost alone, and FAQ No. 7 should not be read as a rigid, switch-cost-only formula.” Read more in our articles including "BSP clarifies bank transfers need not be free" and "Acer Aspire Switch 12 unofficially lands in PH".
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May 20, 2014BSP 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. “Compliance does not require zero fees, nor does it limit off-us P2P electronic fund transfer fees to switch cost alone, and FAQ No.
7 should not be read as a rigid, switch-cost-only formula.”
Our coverage of switch cost P1.50 includes: "BSP clarifies bank transfers need not be free"; "Acer Aspire Switch 12 unofficially lands in PH"; "Acer Aspire Switch 10 now on Smart Bro Gadget Plus Plan 1299". Each article provides unique insights and information.