#waiver of fees bank philippines

Bangko Sentral ng Pilipinas has recently released an updated list of banks and e-money issuers, extending their waiver fees for InstaPay and PESONet. Customers may now enjoy chargeless online transactions from the following banks until December 31, 2020: • Union Bank of the Philippines • Asia United Bank Corporation • Bank of Commerce • Cebuana Lhuillier Rural Bank • China Bank Savings • China Banking Corporation • CIMB Bank Philippines Inc. (free for PESONet since launch) • Citibank (free for individual clients, starts charging fees for corporate clients on Oct. (waived for retail clients) • Maybank Philippines Inc. UnionBank has removed transaction fees for person-to-person fund transfers made through InstaPay, with the new policy taking effect today, July 7, 2026. With this change, UnionBank joins other commercial banks in the Philippines that have also removed fees for real-time digital fund transfers. More banks in the Philippines have been removing InstaPay transfer fees as digital banking services continue to become more competitive. 1238, allowing banks to set their own transfer fees. Read more in our articles including "List of banks, e-money issuers with extended waiver fees for InstaPay, PESONet" and "UnionBank removes InstaPay transfer fees".