Landbank cuts InstaPay fees to P8 to boost digital payments

The Land Bank of the Philippines has reduced its InstaPay transfer fee for person-to-person transactions from ₱15 to ₱8, in a move aimed at making digital financial services more affordable and widely accessible.

The new rate took effect on May 21 and applies to transfers made through the Landbank Mobile Banking App and iAccess platform.

To further ease costs for users, the bank is also offering one free InstaPay transfer per day for transactions of ₱1,000 and below.

The initiative supports efforts to expand cashless transactions and improve financial inclusion, in line with government goals to strengthen digital finance adoption across the country.

Finance Secretary and Landbank Chair Frederick Go said lowering transaction fees helps bring more Filipinos into the formal financial system.

“Reducing digital transaction costs is a crucial step in bringing more Filipinos into the formal financial system. By making fund transfers more affordable, Landbank is helping empower individuals, families, and small businesses to participate more actively in the digital economy,” he said.

Landbank President and CEO Lynette Ortiz said the move is part of the bank’s push for inclusive and cost-efficient digital banking services.

“Landbank remains committed to advancing financial inclusion by making digital banking more affordable and accessible. By lowering transaction fees, we are enabling more Filipinos to use secure and convenient digital channels for their everyday financial transactions,” she said.

The bank also announced plans to roll out zero-fee person-to-government (P2G) payments for select government transactions, allowing Filipinos to settle taxes, fees, and other public dues online at no additional cost.

Landbank said the reforms are part of its broader strategy to support a more digital, cash-lite economy and improve access to financial services nationwide.