BSP updates bank list with extended waiver of fees for PESONet and InstaPay

Bangko Sentral ng Pilipinas (BSP) has recently released the most recently updated list of banks with an extended waiver of fees for PESONet and InstaPay, as of January 8, 2021.

The initiative continues due to the government agency’s push for digital payments as the country continues its fight against COVID-19.

The following banks are extending their waiver of fees for PESONet transactions.

Until January 31, 2021
• AllBank, Inc.
• DCPay Philippines
• Land Bank
• Philippine Business Bank

Until March 31, 2021
• China Bank Savings
• China Banking Corporation
• Country Builders Bank
• Country Builders Bank
• Equicom Saving Bank
• GPay
• JP Morgan Chase Bank (Selected clients)
• Metrobank
• Philippine Business Bank, Inc.
• Philippine Trust Company
• Philippine Veterans Bank
• PNB
• PS Bank
• Robinsons Bank (PHP 1USD 0.02INR 1EUR 0.02CNY 0.12 fee)
• Sterling Bank of Asia
• United Coconut Planters Bank
• Union Bank of the Philippines

Until June 30, 2021
• Rural Bank of Guinobatan

Until December 31, 2021
• CIMB Bank Philippines
• Citibank
• CTBC Bank (Philippines) Corporation
• Development Bank of the Philippines
• East West Bank
• East West Rural Bank
• HSBC (Retail clients)
• HSBC Saving Bank (Retail clients)
• ING Bank, N.V.

Meanwhile, the mentioned banks below are extending their waiver of fees for InstaPay transactions.

Until January 31, 2021
• AllBank, Inc.
• Cebuana Lhuillier Rural Bank
• DCPay Philippines
• East West Bank
• Land Bank
• RCBC via online banking
• StarPay Corporation

Until March 31, 2021
• Asia United Bank
• Binangonan Rural Bank
• China Bank Savings
• China Banking Corporation
• CTBC Bank (Philippines) Corporation
• East West Rural Bank
• Equicom Savings Bank
• GrabPay
• Maybank Philippines, Inc.
• Metrobank
• PBCOM (PHP 1.00USD 0.02INR 1EUR 0.02CNY 0.12 fee)
• PNB
• PS Bank
• Robinsons Bank (PHP 1.00USD 0.02INR 1EUR 0.02CNY 0.12 fee)
• Security Bank (via SB online)
• Sterling Bank of Asia
• Union Bank
• United Coconut Planters Bank

Until June 30, 2021
• Rural Bank of Guinobatan

Until December 31, 2021
• Development Bank of the Philippines
• ING Bank, N.V.
• RCBC via DiskaTech mobile app