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

It's still free for enrolled BPI-to-BPI.
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.

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

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