Follow us for updates
© 2020
Read the Story →

BPI to Restore P50 Service Charge for Fund Transfers Starting Oct. 1

It's still free for enrolled BPI-to-BPI.
by Clara Rosales
Sep 24, 2020
Photo/s: Pixabay / FirmBee

The Bank of the Philippine Islands will resume collecting a P50 service fee for digital fund transfers to other local banks done via its mobile app starting October 1.

BPI said it would resume charging the fee for the following transactions:

  • Funds transfer to other banks via InstaPay and PESONet
  • Funds transfer to unenrolled BPI accounts

ALSO READ: Time to Open a Digital Wallet, Gov't Eyes Digitization of Future Subsidies

The bank waived the transfer fee at the start of the COVID-19 quarantines last Mar. 18 to ease customers' financial burdens. This will last until Sep. 30.

Continue reading below ↓

BPI said clients can still avail of free BPI-to-BPI transactions via QR code or enrolling a third-party account.

Latest Headlines
more about:
Read Next
Recent News
The news. So what? Subscribe to the newsletter that explains what the news means for you.
The email address you entered is invalid.
Thank you for signing up to On Three, reportr's weekly newsletter delivered to your mailbox three times a week. Only the latest, most useful and most insightful reads.
By signing up to newsletter, you agree to our Terms of Service and Privacy Policy.