Suits: sending money often from a bank you can also walk into.
Downside: savings there pay far less than digital banks.
What you need to open an accountOur take: send everyday amounts by InstaPay from a bank that charges nothing for it. If your bank charges for InstaPay but not PESONet, as 6 institutions do (among them DCPAY Philippines, Incorporated, Maya Bank, Inc., Netbank (A Rural Bank), Inc.), use PESONet for anything that can wait until the next banking day. Use PESONet too for amounts above your bank's InstaPay cap. Next: find your bank in the table below.
Free to send, with branches
Banks on this site that charge nothing for personal InstaPay or PESONet in the BSP fee list as of August 31, 2026, widest BSP-listed office network first.
Suits: sending money often from a bank you can also walk into.
Downside: savings there pay far less than digital banks.
What you need to open an account
Suits: sending money often from a bank you can also walk into.
Downside: savings there pay far less than digital banks.
What you need to open an account| Asia United Bank CorporationUniversal and commercial bank | Free | Free |
|---|---|---|
| Bank of CommerceUniversal and commercial bank | Free | Free |
| Bank of the Philippine IslandsUniversal and commercial bank | Free | Free |
| BDO Network Bank, Inc.Thrift bank | Free | Not offered |
| BDO Unibank, Inc.Universal and commercial bank | Free | Free |
| BPI Direct BanKO, Inc., A Savings BankThrift bank | Free | Free |
| China Bank Savings, Inc.Thrift bank | Free | Free |
| China Banking CorporationUniversal and commercial bank | Free | Free |
| CIS Bayad Center, IncorporatedE-money issuer (non-bank) | Free | Not offered |
| City Savings Bank, Inc.Thrift bank | Free | Free |
| CTBC Bank (Philippines) CorporationUniversal and commercial bank | Free | Free |
| Development Bank of the PhilippinesUniversal and commercial bank[Instapay] Fees are FREE effective on 15 August 2026. | Free | ₱10.00 |
| East West Banking CorporationUniversal and commercial bank | Free | Free |
| East West Rural Bank, Inc.Rural bank | Free | Free |
| Equicom Savings Bank, Inc.Thrift bank | Free | Free |
| Land Bank of the PhilippinesUniversal and commercial bank[PESONet] For corporate clients, P15.00 per successful single transaction via weAccess; P10.00 per successful bulk transaction. | Free | Free |
| Malayan Savings Bank, Inc.Thrift bank | Free | Free |
| MariBank Philippines Inc.Digital bank[PN/IP] No transaction limit. | Free | Free |
| Maybank Philippines, IncorporatedUniversal and commercial bank · free only under conditions[PESONet] For individual clients, fees vary based on the account type. | Free | ₱0.00 to ₱30.00 |
| Metropolitan Bank and Trust CompanyUniversal and commercial bank | Free | Free |
| Overseas Filipino Bank, Inc.Digital bank · free only under conditions[PESONet] Fees vary based on the account type. | Free | ₱0.00 to ₱17.00 |
| Own Bank, The Rural Bank of Cavite City, Inc.Rural bank | Free | Free |
| Philippine Bank of CommunicationsUniversal and commercial bank | Free | ₱15.00 to ₱500.00 |
| Philippine National BankUniversal and commercial bank | Free | Free |
| Philippine Savings BankThrift bank | Free | Free |
| Philippine Trust CompanyUniversal and commercial bank | Free | Free |
| Rizal Commercial Banking CorporationUniversal and commercial bank | Free | Free |
| Security Bank CorporationUniversal and commercial bank[PN/IP] Clients with proprietary front-end system or those API-based clients are charged separate integration fees. | Free | Free |
| ShopeePay Philippines, IncorporatedE-money issuer (non-bank) | Free | Not offered |
| Union Bank of the PhilippinesUniversal and commercial bank · free only under conditions[PN/IP] For corporate clients, fees vary based on account channels. [PN/IP] For corporate clients, fees vary based on account channels. | Free | Free |
| UnionDigital Bank, Inc.Digital bank | Free | Free |
| DCPAY Philippines, IncorporatedE-money issuer (non-bank) | ₱5.00 | Free |
| Netbank (A Rural Bank), Inc.Rural bank | ₱5.00 | Free |
| PPS-PEPP Financial Services Corporation (PalawanPay)E-money issuer (non-bank) | ₱5.00 | Not offered |
| UNObank, Inc.Digital bank | ₱5.00 | Free |
| Tonik Digital Bank, Inc.Digital bank | ₱8.00 | ₱8.00 |
| GoTyme Bank CorporationDigital bank · free only under conditions[InstaPay] 20 free transfers per month, P9.00 on the succeeding transfers starting on the 21st. | ₱0.00 to ₱9.00 | Free |
| Card Bank, Inc. (A Microfinance - Oriented Rural Bank)Rural bank | ₱9.00 | Not offered |
| CARD MRI Rizal Bank, Inc., A Microfinance-Oriented Rural BankRural bank | ₱9.00 | Not offered |
| CARD SME Bank, Inc. A Thrift BankThrift bank[InstaPay] 1.8% of the transaction amount, applicable only to P2Micro Merchant Transaction with more than P500.00 amount of transactions and P2Merchant Transaction | ₱9.00 | Not offered |
| CIMB Bank Philippines Inc.Universal and commercial bank · free only under conditions[InstaPay] First 2 transactions are free; P10.00 will be charged per transaction thereafter. | ₱0.00 to ₱10.00 | Free |
| MarcoPay IncorporatedE-money issuer (non-bank)[InstaPay] 1 free transfer per month for users. | ₱5.00 to ₱10.00 | Not offered |
| Dungganon Bank (A Rural Bank), Inc.Rural bank | ₱10.00 | ₱10.00 |
| Easypay Global EMI CorporationE-money issuer (non-bank) | ₱10.00 | ₱10.00 |
| G-Xchange, Incorporated (GXI)E-money issuer (non-bank) | ₱10.00 | Not offered |
| Gpay Network PH, Incorporated (Grabpay)E-money issuer (non-bank) | ₱10.00 | Not offered |
| Lulu Financial Services (Phils.), Inc.E-money issuer (non-bank) | ₱10.00 | ₱10.00 |
| Maya Bank, Inc.Digital bank[PN/IP] PESONet and InstaPay transfers (for Corporate clients) are FREE until further notice. | ₱10.00 | Free |
| Maya Philippines, IncorporatedE-money issuer (non-bank) | ₱10.00 | Not offered |
| Omni Pay IncorporatedE-money issuer (non-bank) | ₱10.00 | Not offered |
| PayMongo Payments IncE-money issuer (non-bank) | ₱10.00 | ₱10.00 |
| Philippine Veterans BankUniversal and commercial bank | ₱10.00 | Free |
| Producers Savings Bank CorporationThrift bank | ₱10.00 | Not offered |
| Queen City Development Bank, Inc. or Queenbank, A Thrift BankThrift bank | ₱10.00 | Not offered |
| Rural Bank of Guinobatan, Inc.Rural bank | ₱10.00 | ₱10.00 |
| Sun Savings Bank, Inc.Thrift bank | ₱10.00 | Not offered |
| TayoCash IncorporatedE-money issuer (non-bank) | ₱12.00 | ₱5.00 |
| Camalig Bank, Inc. (A Rural Bank)Rural bank[PESONet] Fees vary based on the transaction amount. | ₱15.00 | ₱20.00 to ₱500.00 |
| Cebuana Lhuillier Rural Bank, Inc.Rural bank | ₱15.00 | ₱50.00 |
| Mindanao Consolidated Cooperative BankRural bank | ₱15.00 | Not offered |
| Philippine Digital Asset Exchange (PDAX), Inc.E-money issuer (non-bank) | ₱15.00 | ₱10.00 |
| Rang-Ay Bank, Inc. (A Rural Bank)Rural bank[PESONet] Value-based tiering is assumed. | ₱15.00 | ₱50.00 to ₱100.00 |
| Starpay CorporationE-money issuer (non-bank) | ₱15.00 | Not offered |
| Sterling Bank of Asia, Inc. (A Savings Bank)Thrift bank | ₱15.00 | ₱15.00 |
| Toktokwallet Inc.E-money issuer (non-bank) | ₱15.00 | Not offered |
| Traxion Pay IncorporatedE-money issuer (non-bank) | ₱15.00 | ₱50.00 |
| Wealth Development Bank CorporationThrift bank[PESONet] Fees vary based on the transaction amount. | ₱15.00 | ₱30.00 to ₱100.00 |
| Bank of China (Hongkong) Limited-Manila BranchUniversal and commercial bank | ₱20.00 | ₱30.00 |
| Pacific Ace Savings Bank, Inc.Thrift bank | ₱20.00 | Not offered |
| ISLA Bank (A Thrift Bank), Inc.Thrift bank[InstaPay] Fees vary based on the account type. | ₱10.00 to ₱25.00 | ₱15.00 |
| Cantilan Bank, Inc. (A Rural Bank)Rural bank | ₱25.00 | ₱50.00 |
| Infoserve, IncorporatedE-money issuer (non-bank) | ₱25.00 | Not offered |
| USSC Money Services IncorporatedE-money issuer (non-bank) | ₱25.00 | Free |
| Wise Pilipinas IncorporatedE-money issuer (non-bank)[PN/IP] Fees excluding VAT. | ₱35.00 | ₱35.00 |
| Al-Amanah Islamic Investment Bank of the PhilippinesUniversal and commercial bank[PESONet] Fees vary based on the transaction amount. | Not offered | ₱55.00 to ₱110.00 |
| Australia and New Zealand Banking Group LimitedUniversal and commercial bank · free only under conditions[PESONet] Value-based tiering is assumed. | Not offered | ₱0.00 to ₱400.00 |
| Bangko Mabuhay (A Rural Bank), Inc.Rural bank | Not offered | Free |
| Bangko Nuestra Senora Del Pilar, Inc. (A Rural Bank)Rural bank | Not offered | ₱12.00 |
| Bank of Makati (A Savings Bank), Inc.Thrift bank[PESONet] Fees vary based on the transaction amount. | Not offered | ₱50.00 to ₱300.00 |
| BOF, Inc. (A Rural Bank)Rural bank | Not offered | ₱50.00 |
| Cathay United Bank Co., LTD. - Manila BranchUniversal and commercial bank | Not offered | ₱200.00 |
| Deutsche Bank AGUniversal and commercial bank · free only under conditions[PESONet] The all-in PESONet transaction fee is dependent on the tier that each corporate customer belongs to. | Not offered | Not offered |
| Industrial and Commercial Bank of China Limited - Manila BranchUniversal and commercial bank | Not offered | ₱100.00 |
| Industrial Bank of Korea Manila BranchUniversal and commercial bank | Not offered | ₱200.00 |
| Innovative Bank Inc. (A Rural Bank)Rural bank | Not offered | ₱150.00 |
| JP Morgan Chase Bank, N.A.Universal and commercial bank · free only under conditions[PESONet] Value-based tiering is assumed. | Not offered | ₱0.00 to ₱110.00 |
| KEB Hana Bank - Manila BranchUniversal and commercial bank | Not offered | $5.00 |
| Laguna Prestige Banking Corporation, (A Rural Bank)Rural bank | Not offered | Free |
| Malarayat Rural Bank, Inc.Rural bank[PESONet] Value-based tiering is assumed. | Not offered | ₱50.00 to ₱100.00 |
| Mega International Commercial Bank Co., Ltd.Universal and commercial bank | Not offered | $10.00 |
| Mizuho Bank, Ltd. - Manila BranchUniversal and commercial bank | Not offered | ₱50.00 |
| Money Mall Rural Bank, Inc.Rural bank | Not offered | Free |
| MUFG Bank, Ltd.Universal and commercial bank | Not offered | ₱250.00 |
| New Rural Bank of San Leonardo (Nueva Ecija), Inc.Rural bank[PESONet] P30.00 fee per P20,000.00 transaction but not to exceed P100,000.00 per day. | Not offered | ₱30.00 |
| Rural Bank of Angeles, Inc.Rural bank | Not offered | Free |
| Rural Bank of Bauang, Inc.Rural bank | Not offered | ₱5.00 |
| Rural Bank of La Paz, Inc.Rural bank | Not offered | Free |
| Rural Bank of Mangaldan, Inc. (Bangko Rural Ng Mangaldan, Ink.)Rural bank[PESONet] Fees vary based on the transaction amount. | Not offered | ₱10.00 to ₱50.00 |
| Rural Bank of Montalban, Inc.Rural bank | Not offered | Free |
| Rural Bank of Porac (Pampanga), Inc.Rural bank | Not offered | Free |
| Standard Chartered BankUniversal and commercial bank | Not offered | Not offered |
| Sumitomo Mitsui Banking Corporation-Manila BranchUniversal and commercial bank | Not offered | ₱250.00 |
| TagCash Ltd. IncorporatedE-money issuer (non-bank) | Not offered | ₱25.00 |
| Top Bank Philippines, Inc. (A Rural Bank)Rural bank | Not offered | Free |
| UCPB Savings BankThrift bank | Not offered | ₱15.00 |
| United Overseas Bank Limited, Manila BranchUniversal and commercial bank | Not offered | Not offered |
| Yuanta Savings Bank Philippines, Inc.Thrift bank | Not offered | ₱100.00 |
No bank pays to appear here or to change its position.
All 107 banks and e-wallets at a glance
- Free InstaPay, personal:
- 31.
- of 107 institutions.
- Free only under conditions:
- 2.
- e.g. a set number of free transfers a month.
- Charge for InstaPay:
- 41.
- ₱5 to ₱35 per transfer.
- Most common fee:
- ₱10.
- 15 institutions; 10 transfers = ₱100.
- No InstaPay online:
- 33.
- personal accounts.
- Free PESONet, personal:
- 40.
- of 107.
BSP Summary of Transfer Fees via Digital Channels, as of August 31, 2026.
Fees per transfer, sent by the account holder. "Not offered": the institution does not offer that transfer through digital channels. Highlighted rows have their own page here. BSP Summary of Transfer Fees via Digital Channels, extracted September 12, 2026
Banks with free transfers
The BSP publishes a separate list of institutions that charge personal account holders nothing. "Conditional" means free up to a limit, such as GoTyme's 20 free InstaPay transfers a month (₱9 from the 21st) or CIMB's first two.
Free InstaPay (31)
- Asia United Bank CorporationUniversal and commercial bank
- Bank of CommerceUniversal and commercial bank
- Bank of the Philippine IslandsUniversal and commercial bank
- BDO Unibank, Inc.Universal and commercial bank
- China Banking CorporationUniversal and commercial bank
- CTBC Bank (Philippines) CorporationUniversal and commercial bank
- Development Bank of the PhilippinesUniversal and commercial bank
- East West Banking CorporationUniversal and commercial bank
- Land Bank of the PhilippinesUniversal and commercial bank
- Maybank Philippines, IncorporatedUniversal and commercial bank
- Metropolitan Bank and Trust CompanyUniversal and commercial bank
- Philippine Bank of CommunicationsUniversal and commercial bank
- Philippine National BankUniversal and commercial bank
- Philippine Trust CompanyUniversal and commercial bank
- Rizal Commercial Banking CorporationUniversal and commercial bank
- Security Bank CorporationUniversal and commercial bank
- Union Bank of the PhilippinesUniversal and commercial bank
- BDO Network Bank, Inc.Thrift bank
- BPI Direct BanKO, Inc., A Savings BankThrift bank
- China Bank Savings, Inc.Thrift bank
- City Savings Bank, Inc.Thrift bank
- Equicom Savings Bank, Inc.Thrift bank
- Malayan Savings Bank, Inc.Thrift bank
- Philippine Savings BankThrift bank
- East West Rural Bank, Inc.Rural bank
- Own Bank, The Rural Bank of Cavite City, Inc.Rural bank
- MariBank Philippines Inc.Digital bank
- Overseas Filipino Bank, Inc.Digital bank
- UnionDigital Bank, Inc.Digital bank
- CIS Bayad Center, IncorporatedE-money issuer (non-bank)
- ShopeePay Philippines, IncorporatedE-money issuer (non-bank)
Free under conditions: CIMB Bank Philippines Inc., GoTyme Bank Corporation.
Free PESONet (40)
- Asia United Bank CorporationUniversal and commercial bank
- Bank of CommerceUniversal and commercial bank
- Bank of the Philippine IslandsUniversal and commercial bank
- BDO Unibank, Inc.Universal and commercial bank
- China Banking CorporationUniversal and commercial bank
- CIMB Bank Philippines Inc.Universal and commercial bank
- CTBC Bank (Philippines) CorporationUniversal and commercial bank
- East West Banking CorporationUniversal and commercial bank
- Land Bank of the PhilippinesUniversal and commercial bank
- Metropolitan Bank and Trust CompanyUniversal and commercial bank
- Philippine National BankUniversal and commercial bank
- Philippine Trust CompanyUniversal and commercial bank
- Philippine Veterans BankUniversal and commercial bank
- Rizal Commercial Banking CorporationUniversal and commercial bank
- Security Bank CorporationUniversal and commercial bank
- Union Bank of the PhilippinesUniversal and commercial bank
- BPI Direct BanKO, Inc., A Savings BankThrift bank
- China Bank Savings, Inc.Thrift bank
- City Savings Bank, Inc.Thrift bank
- Equicom Savings Bank, Inc.Thrift bank
- Malayan Savings Bank, Inc.Thrift bank
- Philippine Savings BankThrift bank
- Bangko Mabuhay (A Rural Bank), Inc.Rural bank
- East West Rural Bank, Inc.Rural bank
- Laguna Prestige Banking Corporation, (A Rural Bank)Rural bank
- Money Mall Rural Bank, Inc.Rural bank
- Netbank (A Rural Bank), Inc.Rural bank
- Own Bank, The Rural Bank of Cavite City, Inc.Rural bank
- Rural Bank of Angeles, Inc.Rural bank
- Rural Bank of La Paz, Inc.Rural bank
- Rural Bank of Montalban, Inc.Rural bank
- Rural Bank of Porac (Pampanga), Inc.Rural bank
- Top Bank Philippines, Inc. (A Rural Bank)Rural bank
- GoTyme Bank CorporationDigital bank
- MariBank Philippines Inc.Digital bank
- Maya Bank, Inc.Digital bank
- UnionDigital Bank, Inc.Digital bank
- UNObank, Inc.Digital bank
- DCPAY Philippines, IncorporatedE-money issuer (non-bank)
- USSC Money Services IncorporatedE-money issuer (non-bank)
Free under conditions: Australia and New Zealand Banking Group Limited, JP Morgan Chase Bank, N.A., Maybank Philippines, Incorporated, Overseas Filipino Bank, Inc..
BSP list of BSFIs with zero-peso and waived PESONet and InstaPay fees
InstaPay or PESONet?
- InstaPay arrives within minutes and suits everyday amounts. It has a per-transfer cap, ₱50,000 at UnionDigital (UnionDigital) and MariBank (MariBank).
- PESONet moves in batches on banking days. Send before your bank's cut-off (3:00 PM at UnionDigital) and it lands the same day; after that, the next banking day. Limits are higher, up to ₱10 million per transfer at UnionDigital (UnionDigital).
Moving money between your own accounts? Pick the free rail of the sending bank. For e-wallet fees and limits, see GCash, Maya and other e-wallets.
Questions
How much does GCash charge for InstaPay?
The BSP summary lists G-Xchange (GCash) at ₱10.00 per InstaPay transfer, as of August 31, 2026. GCash's help page says the fee was lowered from ₱15 to ₱10 on 4 July 2026. BSP fee summary, as of August 31, 2026
How much does Maya charge for InstaPay?
The BSP summary lists Maya Philippines (the Maya wallet) at ₱10.00 for InstaPay. Maya Bank, the separate savings bank, is listed at ₱10.00. BSP fee summary, as of August 31, 2026
Not covered here: international transfers and remittance companies. For a transfer that did not arrive, contact the sending bank or e-wallet first with its reference number, then the BSP under RA 11765.
What to do next
- Find your bank in the table above. If it charges for InstaPay, check whether its PESONet is free and plan around the cut-off.
- Moving savings for a better rate? Compare banks in the savings interest calculator.
- Topping up a wallet? GCash and Maya cash-in fees and limits.