BSP Updates List of PPMI Members that Waived Fees for Pesonet and Instapay Transactions

In response to the Bangko Sentral ng Pilipinas’ (BSP) call to strengthen the use of digital payments to help curb physical payment transactions amid the COVID-19 pandemic, the members of the Philippine Payments Management, Inc. (PPMI) are extending their waiver of fees for PESONet and InstaPay transactions.

 

An updated list of banks and e-money issuers as of 3 August 2020 follows.

 

Until 31 December 2020:

 

Union Bank of the Philippines

Asia United Bank Corporation

Land Bank of the Philippines

Development Bank of the Philippines

Security Bank Corporation

Sterling Bank of Asia, Inc.

Standard Chartered Bank

East West Banking Corporation

United Coconut Planters Bank

Maybank Philippines, Inc.

Hongkong and Shanghai Banking Corporation (waived for retail; for corporate – reduced from PhP 150.00 to PhP 50.00 from 01 July 2020)

Until 30 September 2020:

 

BDO Unibank, Inc.

Metropolitan Bank and Trust Company

Bank of the Philippine Islands

Rizal Commercial Banking Corporation

China Banking Corporation

Bank of Commerce

Robinsons Bank Corporation

Philippine Savings Bank

PayMaya Philippines, Inc.

G-Xchange, Inc. (GXI)

China Bank Savings, Inc.

Philippine Bank of Communications (extending its PhP 1.00 fee due to system constraints)

Equicom Savings Bank, Inc.

Until further notice:

 

Philippine National bank

MUFG Bank, Ltd.

CTBC Bank (Philippines) Corporation

Bank of China Limited – Manila Branch

The BSP is actively promoting the use of digital payments as part of a safe and convenient payment system.

 

 

Source: Bangko Sentral ng Pilipinas (BSP)