GrabPay to charge Php 15 InstaPay transfer fee starting July 18

Ride-hailing super app Grab on Friday said it has pending approval before the Bangko Sentral ng Pilipinas (BSP)  to apply Php 15.00USD 0.26INR 22EUR 0.24CNY 2 transfer fee for InstaPay transactions from GrabPay to other banks and e-wallets starting on July 18, 2022.

Although transfers to other GrabPay wallets will remain free of charge, according to their press release.

Other banks, e-money issuers, and e-wallets have earlier implemented InstaPay transfer fees after waiving such charges during the height of COVID-19 pandemic.

While some banks have waived PESONet and InstaPay fees until December 2022.