PSBank free transfers officially begin today, July 9, allowing customers to send money to other local banks without paying transfer fees through InstaPay and PESONet.
The new policy covers eligible domestic fund transfers made through PSBank Mobile and PSBank Online, giving customers a more affordable way to move money digitally.
The move follows a growing trend among Philippine banks to remove digital transfer fees and encourage wider adoption of online banking. For customers who regularly send money to family, friends, businesses, or their own accounts at other banks, the change means lower costs with every transaction.
Zero fees for InstaPay and PESONet transfers
With free transfers now available, customers can make fee-free transactions through the country’s two major electronic fund transfer networks.
InstaPay enables real-time fund transfers of up to ₱50,000 per transaction, making it ideal for urgent payments and everyday banking.
Meanwhile, PESONet is better suited for higher-value transfers that do not require immediate processing, making it a practical option for scheduled payments and larger transactions. The zero-fee benefit applies exclusively to eligible domestic transfers made through PSBank’s official digital banking channels.
A broader push for affordable digital banking
The rollout comes as more financial institutions compete to make digital banking more accessible and affordable. Metrobank has also announced the removal of transfer fees for eligible bank and e-wallet transactions, reflecting a broader industry shift toward lowering the cost of everyday banking.
For consumers, these initiatives make digital payments more affordable while encouraging wider use of secure online financial services.
More savings with every transfer
With free transfers now in effect, PSBank customers can send money without worrying about additional transfer charges.
As more banks eliminate transaction fees, digital banking continues to become a more convenient and cost-effective way for Filipinos to manage their daily finances.
