Starting July 1, 2026, BPI account holders will no longer be charged when sending money to other banks and e-wallets through InstaPay and PESONet.
That ₱10 InstaPay fee? Gone. The ₱50 PESONet charge? Also gone. And unlike past promos, this one is permanent.
What Exactly Changed?
BPI has officially announced the permanent removal of transfer fees for interbank transactions done through its digital channels. This covers both:
- InstaPay – real-time transfers available 24/7 (was ₱10 per transaction)
- PESONet – batch transfers typically processed within banking hours (was ₱50 per transaction)
Here’s a quick summary:
| Transfer Type | Old Fee | New Fee (July 1, 2026) |
|---|---|---|
| InstaPay | ₱10 | FREE |
| PESONet | ₱50 | FREE |
Which BPI Apps and Platforms Are Covered?
The zero-fee policy applies across BPI’s main digital channels:
- BPI App
- BPI Online (web browser)
- VYBE (BPI’s e-wallet)
- BanKo
- BizKo (for small businesses)
There is also no daily limit on the number of free InstaPay transfers. You can send as many times as you want without being charged.
Who Benefits From This?
BPI says more than 9.5 million enrolled users of the BPI app stand to benefit from this change.
If you regularly:
- Send money to family in the province
- Pay rent or bills through another bank
- Transfer funds between your accounts across different banks
- Accept or send payments as a freelancer or small business owner
…this update saves you real money over time.
Why Is BPI Doing This?
Two main reasons.
First, the BSP is pushing for it. The Bangko Sentral ng Pilipinas (BSP) released Memorandum Circular 2026-025 on June 17, 2026, which lifted a moratorium on changes to InstaPay and PESONet fees. The BSP now requires that fees be “reasonable and fair,” and that transferring to another bank should not cost significantly more than transferring within the same bank.
Second, BPI is marking its 175th anniversary. The Ayala-led bank is celebrating a major milestone on August 1, and making transfers free is part of how it’s commemorating the occasion.
“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.
Will Other Banks Follow?
That is the big question.
BPI is not the first to move — LandBank already cut its InstaPay fee from ₱15 to ₱8 earlier this year. But BPI going all the way to ₱0 is a significant step that puts pressure on everyone else.
Finance Secretary Frederick Go had long pushed for transfer fees to drop to as low as ₱2 to ₱5. With BPI now at zero, the competitive pressure on other large banks and e-wallets just got a lot stronger.
How to Access the Free Transfers
Nothing complicated here. Just:
- Update your BPI app to the latest version (released June 25, 2026) from the App Store, Google Play, or Huawei AppGallery
- Open the app and go to Move Money → Transfer Money → To another bank/e-wallet
- Transfer as usual — no fee will be charged starting July 1
Blogger’s Corner
For years, that ₱10 InstaPay fee felt small enough to ignore — but if you’re someone who transfers money five or ten times a week, you were quietly paying hundreds of pesos a month just to move your own money.
BPI going fee-free is genuinely good news for everyday Filipinos. And because BPI is one of the biggest banks in the country, this move is likely to force other banks to follow.
The only real question now is: who’s next?
If your bank is still charging you for InstaPay, it might be time to start asking why.