Several banks have pledged to extend their offer to waive bank transfer fees until December 2021 using the InstaPay and PesoNet facilities of the Bangko Sentral ng Pilipinas (BSP).
This comes as a relief for everyone who wants to minimize physically visiting bank branches just to move their finances, especially with the continuous upsurge of COVID-19 cases in the country.
InstaPay transfers have a maximum cover transaction amount of no more than P50,000 and are credited immediately upon transfer. PesoNet, on the other hand, accommodates amounts that are higher than P50,000 and take a couple of days for processing time depending on the bank branch.
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In addition, BSP also released a full list of banks that will be offering free transactions, until April 30 and June 30.
Check out the list here:
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Source: Cosmo PH
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