The Bank of the Philippines Islands (BPI) has announced the permanent reduction of its InstaPay transfer fee to PHP 10 (from PHP 25) for inter-bank fund transfers made through its mobile application. This makes the previously promotional rate a standard offering, responding to what the bank described as “strong demand.”
BPI InstaPay Fee
A Positive Response to Digital Accessibility
The decision comes after a highly successful promotional period that saw the fee temporarily reduced from its original PHP 25. Maria Cristina Go, the bank’s head of consumer banking, stated on Monday, “The response to our promotion reducing InstaPay fee to PHP 10 last March was very positive, as we experienced increased transactions throughout online and mobile banking channels.”
The initial fee reduction was strategically implemented to encourage BPI customers to embrace digital platforms for real-time money transfers, a push that has resonated with users.
Empowering Filipinos with Cost-Efficient Services
BPI is making the lower fee permanent as part of its broader vision to provide convenient, secure, and cost-efficient digital services. This move aims to enhance the digital banking experience and provide affordable options for Filipinos to manage their finances more effectively.
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