Free Transfers Forever: BPI Removes InstaPay and PESONet Fees Starting July

(SPOT.ph) One of the biggest banks in the Philippines is finally doing something many online users have been clamoring for: getting rid of digital transfer fees for good.

Starting July 1, 2026, the Bank of the Philippine Islands (BPI) is permanently removing InstaPay and PESONet fees across its platforms, including the BPI app, BPI Online, VYBE, and BizKo, as part of its 175th anniversary celebration.

So if you open the BPI app, BPI Online, VYBE, or BizKo and send money to another bank like BDO or Metrobank—or to a supported e-wallet like GCash or Maya—you should not have to pay a transfer fee. However, if you use another app to cash in from your BPI account, that can still come with a separate fee depending on the platform.

Just make sure that you're using the latest version of the BPI app, as it was recently updated on June 25.

Also read: BPI Users, You Can Now Withdraw Cash for Free at These Supermarkets

Prior to this announcement, BPI charged a P10 fee for InstaPay transfers and a P50 fee for PESONet transfers, with fees waived only for BPI Preferred, BPI Gold, and BPI Private Wealth clients. With the July 1 rollout, the zero-fee treatment will apply to everyone else.

Do note that while the fees might be going away, the usual transfer limits still apply for InstaPay and PESONet when using the BPI app.

For InstaPay, transfers are available 24/7 through BPI Online and the BPI app, with funds credited to the recipient’s account in real time. BPI’s InstaPay limit is P50,000 per transaction.

Meanwhile, PESONet is better for bigger transfers, with a limit of P250,000 per transaction, but it could take a few hours for the money to arrive. Transactions made after 4 p.m. are also processed on the next banking day.

BPI's move comes after the Bangko Sentral ng Pilipinas (BSP) tightened its rules on digital transaction fees on June 17.

Under BSP Circular No. 1238, fees for electronic payments should be based on the actual cost of processing the transaction—not just whatever amount payment providers decide to charge. Digital fees are also expected to be lower than over-the-counter charges, since online transactions are supposed to be more efficient than lining up at a branch.

Also read: Could Online Bank Transfer Fees be Permanently Waived Soon? The BSP Is Working On It