BPI Makes InstaPay and PESONet Transfers Free Starting July 1

According to Rappler, Bank of the Philippine Islands (BPI) announced that interbank transfers through InstaPay and PESONet will be permanently free starting July 1. Previously, most BPI app users were charged 10 Philippine pesos (P10) for InstaPay transactions and P50 for PESONet transfers. The zero-fee policy applies to transfers via the BPI app, BPI online banking, VYBE, BanKo, and BizKo platforms, with no daily limit on free transactions. BPI said the move is expected to benefit over 9.5 million enrolled users. The announcement follows the Bangko Sentral ng Pilipinas (BSP) lifting its five-year moratorium on InstaPay and PESONet fee changes, pushing banks toward market-based pricing that treats cross-bank transfers fairly.
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