BPI waives transfer fees for small transactions

Good news from the Bank of the Philippine Islands (BPI). Clients using the new BPI app can now send money for free to all banks and e-wallets, as BPI forgoes the collection of online bank transfer fees for small transactions.

The fee waiver would apply to InstaPay transfers of up to Php 1,000 and will take effect for a limited time, starting July 5 to September 30 — allowing clients to conveniently transfer funds to other bank accounts, split bills with friends, or settle payments for just about any transaction.

“We encourage our clients to take advantage of the new BPI app and transfer up to Php 1,000 via Instapay for free to fully enjoy and maximize the benefits of digital banking,” said Fitzgerald Chee, BPI Consumer Platforms Head. “As the oldest bank in the Philippines, we are committed to staying ahead of the curve to continuously deliver better, real value for our clients.”

BPI is one of the first banks to drop InstaPay interbank transfer fees after the Bangko Sentral ng Pilipinas made a proposal earlier this year to remove fees for small-value online transactions. The initiative is also part of BPI’s customer obsession strategy and broader plan to address the financial inclusion gap in the country, helping build a better Philippines — one family, one community at a time.