Bank of the Philippine Islands (BPI) said Monday it would permanently keep the reduced P10 InstaPay fee for interbank fund transfers made through the BPI app and BPI Online.
The fee was introduced in March 2024 as a promotional rate to encourage customers to use digital banking. BPI said it decided to make the rate permanent due to strong customer demand and positive feedback.
“We’re committed to making banking more affordable for more Filipinos,” said BPI head of consumer banking Maria Cristina Go.
“The response to our promotion reducing the InstaPay fee to P10 last March was very positive, as we experienced increased traffic in BPI’s mobile banking channels,” she said.
“We’re continuously enhancing our digital services that empower Filipinos to manage their finances more effectively,” Go said.
BPI said the lower fee helps support financial inclusion and allows customers to transfer money where it matters most.
The bank said the move is also part of its focus on digital banking and customer needs.
