GCash has lowered its InstaPay transfer fee to ₱10, down from ₱15, starting July 4, 2026. The change applies to all bank transfers made through the app, following the Bangko Sentral ng Pilipinas (BSP) Circular No. 1238, which requires fees to match actual processing costs.
Transfers between GCash users stay free for up to 500 transactions per month. After that, a ₱5 fee applies to those who go over the limit.
InstaPay allows real-time fund transfers of up to ₱50,000 per transaction. PESONet is for large-value fund transfers.
The BSP directive ensures digital transfer fees are “reasonable and fair market-based,” lower than over-the-counter fees, and proportionate to service costs. The move is part of the regulator’s push to make digital payments more affordable and accessible.
GCash joins other providers in adjusting fees. RCBC waived InstaPay fees starting July 4, while BPI permanently removed InstaPay and PESONet fees at the end of June. Land Bank earlier lowered its InstaPay fee to ₱8.
Also Read: BPI removes InstaPay and PESONet transfer fees for good
Local users can now expect cheaper transfers across major platforms, with more banks likely to follow BSP’s push for fairer digital transaction costs.
