Have you heard that the Bank of the Philippines Islands (BPI) fund transfers fees to other banks and e-wallets via InstaPay and PESONet on the BPI app, online banking, VYBE, BanKo, and BizKo is now permanently free?!
The move is also aligned with BSP Circular No. 1238, Series of 2026, which calls on BSP-supervised financial institutions to adopt reasonable and fair, market-based pricing for person-to-person electronic fund transfers.
Previously, BPI app users were charged Php 10 for InstaPay transactions and Php 50 for PESONet transfers when sending funds through the BPI app. Transfers to other banks and e-wallets remain free for all verified VYBE users.
“As we mark our 175th year, BPI remains committed to removing barriers to financial access and making banking more inclusive for all Filipinos. Making interbank transfers free is a meaningful step toward enabling our customers to move their money more freely, while strengthening adoption of secure and convenient digital banking,” said BPI President and CEO TG Limcaoco.
The free interbank fund transfer initiative is expected to benefit more than 9.5 million BPI app enrolled users, enabling more cost-efficient and accessible digital transactions.
“We expect this to drive more frequent use of digital transfers as customers no longer have to factor in per-transaction costs. It simplifies everyday payments and makes the BPI app an even more practical tool for managing finances,” he added.
The waived fees apply to transactions of:
- All existing BPI mobile app users, including both active and inactive customers
- Clients under BPI Preferred, BPI Gold, BPI Private Wealth, and verified VYBE users who already enjoy free interbank fund transfers as part of their existing benefits
Offer Details
- Zero fees for transfers to other banks and e-wallets
- Applicable to InstaPay (real-time transfers) and PESONet (batch processing)
- Available via BPI online banking, BPI app, BanKo, and BizKo
- Effective July 1, 2026
App Update
In a related development, BPI customers will need to use the updated version of the mobile app by June 25. The app update includes minor fixes and performance improvements to further enhance the user experience.
Customers are encouraged to ensure their app is updated to the latest version, available on the Apple App Store, Google Play Store, and Huawei AppGallery.
The removal of interbank transfer fees forms part of BPI’s broader strategy to drive digital adoption and enhance accessibility to financial services. By lowering transaction costs, the bank aims to encourage greater use of digital platforms for payments, remittances, and fund transfers.
Should customers encounter issues, BPI remains ready to assist through its official channels to ensure a smooth and seamless banking experience. Clients may visit www.bpi.com.ph or contact the BPI 24/7 Contact Center at (02) 889-10000.
Ready for more gadget, gizmo, and gear updates? Follow Ready Gadget Go on our Facebook Page, Twitter @Ready_Gadget_Go, and on Instagram.
0 Comments