MORE BANKS have permanently waived their transfer fees in line with the Bangko Sentral ng Pilipinas’ (BSP) push to lower digital transaction costs for Filipinos.
Effective Tuesday (July 7), all person-to-person interbank transfers via Land Bank of the Philippines (LANDBANK) and Union Bank of the Philippines (UnionBank) are now free of charge, the two banks announced separately.
LANDBANK has removed its InstaPay and PESONet fees for retail clients transacting via the LANDBANK Mobile Banking App (MBA) and iAccess, it said in a statement late on Monday. It previously offered limited free small transfers coursed through both payment gateways, with individual transactions beyond the daily limits and amount thresholds charged P15-P50 for PESONet and P8 for InstaPay.
The waiver also extends to its digital bank Overseas Filipino Bank, Inc.
Support authors and subscribe to content
This is premium stuff. Subscribe to read the entire article.
