Transfer Money from Bank to Bank ONLINE

Is Interbank Fund Transfer or Bank-to-Bank Money Transfer now possible in the Philippines?

Is it now possible to transfer money from one local bank to another local bank ONLINE?


More and latest info on INSTAPAY and PESONET funds transfer between banks and non-bank e-money or e-wallets

transfer money bank laptop

With the BSP’s push for electronic funds transfer systems InstaPay and PesoNet, interbank funds transfer in the Philippines is now available to more account owners.

Prior to InstaPay and PesoNet, only account owners of certain bank accounts can transfer online. Now with 79 banks and e-money issuers participating in InstaPay and PesoNet as of June 2021, and with more expected to join soon, interbank funds transfer in the country will soon be available to every account owner.

Online Interbank Funds Transfer via INSTAPAY

You can see the Instapay or PesoNet system or both systems integrated into your online banking system when you login. The FEE to transfer funds ranges from 5 pesos to 100 pesos. Some banks offer FREE transfers to help ease pandemic hardships. EastWest charges only 5 pesos for Instapay.

46 banks that can send and receive money via INSTAPAY, as of July 31, 2021

  1. AllBank (thrift bank)
  2. Asia United Bank (AUB)
  3. Bank of Commerce (BankCom)
  4. Bank of the Philippine Islands (BPI)
  5. BDO Unibank (BDO)
  6. Binangonan Rural Bank
  7. BPI Direct Banko
  8. Camalig Bank
  9. Card Bank
  10. Cebuana Lhuillier Rural Bank
  11. China Bank Savings (thrift bank)
  12. China Banking Corp. (Chinabank)
  13. CTBC Philippines
  14. DCPay Philippines (e-money)
  15. Development Bank of the Philippines (DBP)
  16. Dumaguete City Development Bank (thrift bank)
  17. Dungganon Bank, A Microfinance Rural Bank
  18. East West Banking Corp. (EastWest)
  19. East West Rural Bank
  20. Equicom Savings Bank (thrift bank)
  21. GCash (operated by G-Xchange) (e-money)
  22. ING Bank
  23. Land Bank of the Philippines (Landbank)
  24. Malayan Savings Bank
  25. Maybank Philippines
  26. Metropolitan Bank and Trust Company (Metrobank)
  27. Mindanao Consolidated Cooperative Bank
  28. Partner Rural Bank (Cotabato)
  29. Paymaya (e-money)
  30. Philippine Bank of Communications (PBCom)
  31. Philippine National Bank (PNB)
  32. Philippine Savings Bank (PSBank)
  33. Philippine Trust Co. (Philtrust)
  34. Producers Savings Bank (thrift bank)
  35. Queen City Development Bank (thrift bank)
  36. Rizal Commercial Banking Corp. (RCBC)
  37. Robinsons Bank Corp.
  38. Rural Bank of Guinobatan
  39. Security Bank Corp.
  40. StarPay Corp. (e-money)
  41. Sterling Bank
  42. Sun Savings Bank
  43. Union Bank of the Philippines (Union Bank)
  44. United Coconut Planters Bank (UCPB)
  45. USSC Money Services (e-money)
  46. Yuanta Savings Bank

The following banks can only receive money via Instapay as of this time:

  1. Philippine Veterans Bank (commercial bank)
  2. ISLA Bank (thrift bank)
  3. Philippine Business Bank (thrift bank)
  4. UCPB Savings Bank (thrift bank)
  5. Wealth Development Bank (thrift bank)
  6. Bangko Mabuhay, Inc. (rural bank)
  7. BDO Network Bank (rural bank)
  8. Quezon Capital Rural Bank, Inc.
  9. OmniPay (e-money/e-wallet)

Online Transfer via PESONET

There are now 87 financial institutions that use Pesonet, as of August 31, 2021.
Notice: Some banks offer PESONET transfer only to businesses

Universal and Commercial Banks that are Members of Pesonet:

  1. Al-Amanah Islamic Investment Bank of the Philippines
  2. Asia United Bank Corp. (AUB)
  3. Australia and New Zealand Banking Group Ltd. (ANZ)
  4. Bangkok Bank Public Co. Ltd.
  5. Bank of America, N.A
  6. Bank of China Ltd. – Manila Branch
  7. Bank of Commerce (Bankcom)
  8. Bank of the Philippine Islands (BPI)
  9. BDO Unibank, Inc. (BDO)
  10. Cathay United Bank Co., Ltd.
  11. China Banking Corp. (Chinabank)
  12. CIMB Bank Philippines, Inc.
  13. Citibank, N.A.
  14. CTBC Bank (Philippines) Corp.
  15. Deutsche Bank AG
  16. Development Bank of the Philippines (DBP)
  17. East West Banking Corp.
  18. Industrial and Commercial Bank of China, Ltd. – Manila Branch
  19. Industrial Bank of Korea Manila Branch
  20. ING Bank N.V
  21. JP Morgan Chase Bank, N.A
  22. KEB Hana Bank – Manila Branch
  23. Land Bank of the Philippines (Landbank)
  24. Maybank Philippines, Inc.
  25. Mega International Commercial Bank Co., Ltd.
  26. Metropolitan Bank and Trust Co. (Metrobank)
  27. Mizuho Bank, Ltd. – Manila Branch
  28. MUFG Bank, Ltd.
  29. Philippine Bank of Communications (PBCom)
  30. Philippine National Bank (PNB)
  31. Philippine Trust Company (Philtrust)
  32. Philippine Veterans Bank
  33. Rizal Commercial Banking Corp. (RCBC)
  34. Robinsons Bank Corporation
  35. Security Bank Corporation
  36. Shinhan Bank – Manila Branch
  37. Standard Chartered Bank
  38. Sumitomo Mitsui Banking Corporation – Manila Branch
  39. The Hongkong & Shanghai Banking Corp. (HSBC)
  40. Union Bank of the Philippines (Unionbank)
  41. United Coconut Planters Bank (UCPB)
  42. United Overseas Bank Ltd., Manila Branch (UOB)

Thrift Banks that are Pesonet Members:

  1. AllBank, Inc.
  2. Bangko Kabayan, Inc.
  3. Bank of Makati, Inc.
  4. BPI Direct BanKO, Inc.
  5. China Bank Savings, Inc.
  6. Dumaguete City Development Bank, Inc.
  7. Equicom Savings Bank, Inc.
  8. First Consolidated Bank, Inc.
  9. HSBC Savings Bank, Inc.
  10. Malayan Savings Bank
  11. Philippine Business Bank, Inc.
  12. Philippine Savings Bank
  13. Producers Savings Bank Corp.
  14. Queen City Development Bank
  15. Sterling Bank of Asia, Inc.
  16. Wealth Development Bank Corp.
  17. Yuanta Savings Bank Philippines, Inc.

Rural Banks that are Members of Pesonet:

  1. Bangko Mabuhay, Inc.
  2. Bangko Nuestra Señora del Pilar, Inc.
  3. Bank of Florida, Inc.
  4. BDO Network Bank, Inc.
  5. Camalig Bank, Inc.
  6. Cantilan Bank, Inc.
  7. Cebuana Lhuillier Rural Bank, Inc.
  8. Community Rural Bank of Romblon
  9. Country Builders Bank, Inc.
  10. Dungganon Bank, Inc.
  11. East West Rural Bank, Inc.
  12. Guagua Rural Bank, Inc.
  13. Innovative Rural Bank, Inc.
  14. Laguna Prestige Banking Corporation
  15. Money Mall Rural Bank, Inc.
  16. MVSM Bank (Rural Bank), Inc.
  17. Rang-Ay Bank, Inc.
  18. RBT Bank, Inc.
  19. Rural Bank of Digos, Inc.
  20. Rural Bank of Guinobatan, Inc.
  21. Rural Bank of Lebak (Sultan Kudarat), Inc.
  22. Rural Bank of Montalban, Inc.
  23. Rural Bank of Rosario (L.U.), Inc.
  24. Rural Bank of Sta. Ignacia, Inc.
  25. Tonik Digital Bank, Inc.

Electronic Money Issuers or E-Wallets that are Pesonet Members:

  1. DCPay Philippines, Inc.
  2. GCash (G-Xchange, Inc.)
  3. PayMaya Philippines, Inc.

Source of List of Pesonet Members: BSP Pesonet List


You can transfer money online from one bank to another bank within the BANCNET network.

(Note: As of Dec 19, 2014, interbank transfer is temporarily not available. Check from time to time)

Or check your own bank’s online banking service. Many Bacnet-member banks have their own online banking services.

Some require pre-enrollment of source and recipient accounts; others do not.  The interbank fund transfer fee is 25 pesos.

The new BancnetOnline.Com says that only the account owners of the following member banks can use in the meantime:

  1. Asia United Bank
  2. CTBC Bank
  3. Citystate Savings Bank
  4. Development Bank of the Philippines (DBP)
  5. Enterprise Bank
  6. Entrepreneur Bank
  7. Equicom Savings Bank
  9. Malayan Bank
  10. Maximum Savings Bank Inc.
  11. Overseas Filipino Bank
  12. PBCom
  13. Philippine Business Bank
  14. Philippine Veterans Bank
  15. Philtrust Bank
  16. QCRB
  17. Sterling Bank of Asia
  18. Sun Savings Bank
  19. Wealth Bank

BancNet has more members, including top banks BDO, BPI, Metrobank and Landbank, but these banks run their own online banking systems.

Send Money from Your BDO Account to an Account in Another Local Bank

Choose the Send Money option in your BDO online banking account.
Click “Send Money to Another Local Bank”
You’ll fill up a form.
Enter details that include your recipient’s name, account no., birth date, mobile no., address, gender, purpose of transaction.
You’ll choose from a list of banks.

The charge is 100 pesos.

See more info here: Transfer Money from BDO to Other Local Banks

Online Wire Transfer from a BDO US Dollar Account to Another Local Bank

The local wire transfer cost is US$10.  The transfer process might take 2 to 3 days.

Do you like to send money abroad? Here are several ways to send money to other countries from the Philippines.


  1. Anonymous 03/16/2015
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  7. Kyle Calvin 11/24/2016
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  13. Anonymous 04/06/2018

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