BPI makes P10 InstaPay transfer fee permanent

The Bank of the Philippines Islands (BPI) announced that the reduced P10 fee for InstaPay inter-bank transfers via the BPI app and online platform will now be a permanent feature. This move aims to make digital financial services more affordable and accessible for customers.

Previously, BPI had cut the InstaPay fee from P25 to P10 as a promotional offer to encourage the use of digital channels for money management. The bank reported a positive response, with increased transactions on its mobile and online platforms.

“We are committed to making banking more affordable to more Filipinos. The response to our promotion reducing InstaPay fee to P10 last March was very positive,” said Maria Cristina Go, BPI head of consumer banking.

BPI said the permanent lower fee will help promote financial inclusion and allow customers to save more, especially those who frequently send interbank transfers.