PESONET Archives - Technobaboy.com

According to the Bangko Sentral ng Pilipinas, the following local banks have extended the waiver of their interbank money transfer fees. Last year, almost all local banks and e-wallets GCash and PayMaya waived their instaPay and PESONET transactions fees because of the pandemic. When the government placed the country under enhanced community quarantine because of COVID-19, most account holders turned to online banking and cashless transactions. Now, several banks are extending the waiver of the fees as the country slowly recovers from the pandemic. For those not familiar, instaPay allows account holders to transfer money via online channels up to PHP 50,000 to other banks and e-wallets in real time; PESONET, on the other hand, offers same-day crediting for much higher amounts and usually higher transaction fees. List of Banks that extended waived fees (As of January 5, 2021) Until December 31, 2021 CIMB Bank PhilippinesCitibankCTBC Bank (PESONET only)Development Bank of the PhilippinesEast West Bank (PESONET only)East West Rural Bank (PESONET only)HSBCHSBC Savings BankING Bank, N.V.RCBC via DiskarTech Mobile App Until June 30, 2021 Rural bank of Guinobatan Until March 31, 2021 Asia United BankBinangonan Rural BankChina Bank SavingsChina BankCTBC Bank (InstaPay only)East West Rural bank (InstaPay only)Equicom Savings BankGPayLand Bank of the PhilippinesMetrobankPhilippine Bank of Communications (Php 1 fee for InstaPay)Philippine Business Bank, Inc.Philippine National BankPhilippine Veterans BankPS BankRobinsons Bank (Php 1 fee for InstaPay and PESONET)Security BankSterling Bank of AsiaUnion Bank of the Philippines Until January 31, 2021 AllBank, Inc.Cebuana Lhuillier Rural bankEast West Bank (InstaPay only)RCBC via online banking

PESONET

These PH banks extend waiver of InstaPay & PesoNet fees

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