BDO CUTS TRANSFER COSTS BY WAIVING INSTAPAY, PESONET FEES

BDO Unibank Inc. has removed transaction fees for fund transfers made through InstaPay and PESONet, allowing customers to send money digitally at no cost.

The move eliminates charges that previously ranged from P10 to P50 per transaction, making digital banking more accessible for retail depositors.

BDO’s decision follows a directive from the Bangko Sentral ng Pilipinas urging banks to reduce or eliminate interbank transfer fees to promote financial inclusion.

The bank joins several major lenders that have recently waived digital transfer charges as part of an industry-wide shift.

The BSP said aligning transfer fees with actual network costs is intended to lower barriers for unbanked and underbanked Filipinos.

Source: PhilNews24 | July 10, 2026