RCBC to waive InstaPay fees starting July 4

MANILA, Philippines – Rizal Commercial Banking Corp. (RCBC) is waiving InstaPay transfer fees on its digital banking app, becoming the latest lender to drop interbank transfer charges amid intensifying competition.

In a social media post on Friday, the Yuchengco-led bank said clients using the RCBC Pulz app can transfer funds to other local banks via InstaPay for free starting July 4, 2026.

READ: BPI⁠ waives InstaPay, PESONet transfer fees starting July 1

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The waiver covers the first 30 InstaPay transactions each month, with a minimum transfer amount of P100 per transaction.

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The move follows BPI’s removal of InstaPay and PESONet fees on its digital channels, in line with the Bangko Sentral ng Pilipinas’ push for fairer and more transparent electronic payment pricing.

READ: BSP clears way for digital transaction fee hikes; Go wants charges lowered to P2-P5

RCBC said the promo is exclusive to the RCBC Pulz mobile app, available on major app marketplaces.

Banks have increasingly cut fees and offered digital incentives to boost app usage and compete with rival lenders and financial technology firms in the country’s rapidly growing digital payments market. /pai INQ

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