BPI Marks 175 Years with Free Digital Transfers for All

As it celebrates a milestone 175 years of serving Filipinos,  Bank of the Philippines Islands (BPI)⁠ is taking a major step toward making digital banking more accessible by permanently removing transfer fees for transactions sent to other banks and e-wallets through InstaPay and PESONet.

Starting July 1, 2026, BPI customers will no longer pay transfer charges when sending money through the BPI mobile app, online banking platform, VYBE, BanKo, and BizKo. The initiative reflects the bank’s continuing commitment to financial inclusion while supporting the growing shift toward cashless and digital transactions across the country.

The move also aligns with the guidelines outlined in BSP Circular No. 1238, which encourages financial institutions to implement fair and reasonable pricing for person-to-person electronic fund transfers. By eliminating transfer fees, BPI aims to make digital banking more practical and cost-effective for millions of Filipinos who rely on electronic channels for everyday financial activities.

Prior to this announcement, users of the BPI app were charged ₱10 for every InstaPay transaction and ₱50 for PESONet transfers. While verified VYBE users already enjoyed free transfers, the new policy expands this benefit to all BPI customers, regardless of account type or banking segment.

According to BPI President and CEO TG Limcaoco, the removal of interbank transfer fees reflects the bank’s mission to break down barriers that limit access to financial services. He noted that customers can now move funds more freely without worrying about additional charges, making digital banking a more convenient and attractive option for daily transactions.

The initiative is expected to benefit more than 9.5 million users enrolled in the BPI app. Customers under BPI Preferred, BPI Gold, BPI Private Wealth, and verified VYBE users will continue enjoying the same transfer privileges they previously received, now alongside the wider customer base.

The waived fees cover both InstaPay, which enables real-time fund transfers, and PESONet, which processes transactions in batches. These services will be available across BPI’s major digital platforms, including online banking, the BPI app, BanKo, and BizKo.

In preparation for the rollout, BPI is also encouraging customers to update their mobile applications to the latest version by June 25. The update introduces performance enhancements and minor fixes designed to improve overall user experience and ensure smoother transactions.

The elimination of transfer fees forms part of BPI’s broader digital transformation strategy, aimed at encouraging more Filipinos to adopt secure, convenient, and affordable banking solutions. By lowering transaction costs, the bank hopes to drive greater use of digital payments, remittances, and fund transfers, further strengthening financial inclusion in the Philippines.