GrabPay to Charge Fees for InstaPay Transfers Starting July 18

Super app Grab said Friday its mobile wallet service GrabPay would charge fees for money transfers via InstaPay starting July 18.

An additional P15 transfer fee will be charged for InstaPay transactions from GrabPay to other banks and e-wallets, Grab said. The additional fee however is still subject to the approval of the Bangko Sentral ng Pilipinas.

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Previously, GrabPay transfers via InstaPay to other banks and mobile wallets were free of charge.

Grab said users can still send money to other GrabPay wallets free of charge.

Users can cash in their GrabPay accounts through online banking, debit and credit cards, in stores, and with Grab drivers.

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