Last year, the Bangko Sentral ng Pilipinas (BSP) pushed to remove incurred fees from small bank-to-bank transactions. The BSP has already seen significant progress in this area, with the share of digital payments in total retail transactions increasing to 52.8% in 2023 from 42.1% in 2022. Current InstaPay fees for individual transactions range from as low as Php8 up to Php75, while PESONet transfers could cost between Php8 and Php600 for consumers. Under the draft circular, the waived fees will apply to personal transactions that fall within the “threshold” set by the BSP. In addition to personal transactions, the BSP also proposes to waive fees for small businesses with monthly aggregate gross receipts not exceeding Php250,000. The platform is built to deliver low-fee, frictionless transactions for everyday users and businesses alike, offering payment options via e-wallets, credit cards, online banking, and over-the-counter services. Autosweep transactions load instantly, while Easytrip posts in real time if done before 10:00 pm. Using the BPI mobile app, customers can generate a barcode through the 'Partner store transactions' section under the More tab. Read more in our articles including "BSP eyes zero-fee electronic fund transfers, payments to MSMEs" and "Manny Pacquiao Launches Manny Pay App- Offers Fast, Low-Fee Digital Transactions".
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Apr 29, 2026Last year, the Bangko Sentral ng Pilipinas (BSP) pushed to remove incurred fees from small bank-to-bank transactions. The BSP has already seen significant progress in this area, with the share of digital payments in total retail transactions increasing to 52.8% in 2023 from 42.1% in 2022.
Current InstaPay fees for individual transactions range from as low as Php8 up to Php75, while PESONet transfers could cost between Php8 and Php600 for consumers. Under the draft circular, the waived fees will apply to personal transactions that fall within the “threshold” set by the BSP. In addition to personal transactions, the BSP also proposes to waive fees for small businesses with monthly aggregate gross receipts not exceeding Php250,000.
Our coverage of zero-fee transactions includes: "BSP eyes zero-fee electronic fund transfers, payments to MSMEs"; "Manny Pacquiao Launches Manny Pay App- Offers Fast, Low-Fee Digital Transactions"; "BDO Pay offers zero fee reloads on Autosweep and Easytrip". Each article provides unique insights and information.