RCBC waives InstaPay fees via apps
Rizal Commercial Banking Corp. (RCBC) will begin offering free InstaPay person-to-person fund transfers through its digital banking platforms, RCBC Pulz and RCBC DiskarTech, starting July 4, 2026, allowing customers to send money to other banks, e-wallets, and financial institutions without transfer charges.
Under the program, RCBC Pulz users may make up to 30 free InstaPay transfers per month, provided each transaction is at least P100. Transactions exceeding the monthly limit or falling below the minimum amount will be subject to the bank's standard P10 fee.
RCBC DiskarTech users, meanwhile, will continue to enjoy unlimited free InstaPay transfers, with no minimum transaction amount or monthly cap.
The bank said the move aims to make digital banking more affordable and encourage wider adoption of cashless payments by removing one of the most common transaction costs faced by consumers. The initiative also supports the Bangko Sentral ng Pilipinas' goal of expanding digital payments under BSP Circular No. 1238, which promotes fair and transparent pricing for person-to-person electronic fund transfers.
RCBC President and Chief Executive Officer Reginaldo Anthony "Reggie" Cariaso said lower transaction costs are a key driver of digital adoption.
“At RCBC, we believe the best digital innovations are those that make banking simpler, more accessible, and more affordable for every Filipino. Offering free InstaPay transfers through both RCBC Pulz and DiskarTech reflects our commitment to delivering practical solutions that create everyday value for our customers while advancing the country's digital transformation,” Cariaso said.
“Digital banking succeeds when it delivers real value to real customers. Eliminating transfer fees is one way we can remove barriers to adoption while helping Filipinos build stronger digital financial habits,” he added.
RCBC's move aligns with recent efforts by Philippine banks to waive or reduce online transaction fees following the BSP's push to make interbank payments more accessible.
The Bank of the Philippine Islands (BPI) recently announced that all InstaPay and PESONet transfers would be permanently free beginning July 1 as part of its 175th anniversary celebration and broader financial inclusion efforts.
Meanwhile, state-owned Land Bank of the Philippines reduced its InstaPay fee to P8 from P15 and waived e-payment fees for select government agencies.
