MANILA, Philippines — Ayala-led Bank of the Philippine Islands (BPI) is permanently slashing its InstaPay fee to just P10 starting June 1, following strong customer demand for more affordable digital banking services.
Initially launched as a promotional offer in March, the reduced fee aimed to encourage more clients to use the bank’s digital platforms.
With positive customer feedback and a notable rise in online and mobile transactions, BPI is making the P10 fee a permanent fixture for InstaPay transfers done via the BPI app and BPI Online.
“We are committed to making banking more affordable to more Filipinos,” Maria Cristina Go, BPI’s head of consumer banking, said in a statement.
“The response to our promotion reducing the InstaPay fee to P10 was very positive, as we experienced increased transactions through our online and mobile banking channels,” she said.
According to Go, the move is aligned with BPI’s broader goal of providing convenient, secure, and cost-efficient digital services, while also supporting financial inclusion.
“This is part of our commitment to deliver services that empower Filipinos to manage their finances more effectively,” she added.
InstaPay is an electronic fund transfer service that enables real-time fund transfers between participating banks and e-wallets. BPI’s new P10 fee is among the lowest in the industry for such interbank transfers.
With the fee cut now permanent, BPI users can continue to enjoy seamless and more affordable fund transfers anytime, anywhere through the bank’s digital channels.