EastWest Bank has announced it will waive fees for InstaPay and PESONet transactions, giving customers free access to digital fund transfers. The change applies to transfers made through its online and mobile banking channels.
This move follows similar adjustments from BPI, RCBC, UnionBank, PNB, Maya, and GCash, all of which have recently reduced or removed transfer fees. Together, these changes reflect a growing industry trend toward more affordable digital payments.
The fee removal is in line with Bangko Sentral ng Pilipinas Circular No. 1238, which requires banks and e‑wallets to set fees based on actual processing costs and ensure they remain fair compared to over‑the‑counter charges.
Also Read: BPI removes InstaPay and PESONet transfer fees for good
For customers, the update means easier and cheaper ways to send money across banks and e‑wallets. Hopefully, more institutions join the shift, which will encourage wider adoption of cashless payments in the Philippines. Digital transfers should be more accessible.
