INSTAPAY Interbank Transfer

INSTAPAY is now the fastest way to transfer money online from one bank to another bank in the Philippines

on the condition that both sending and receiving entities are participants of INSTAPAY.

The fee for sending online depends on your bank. It ranges from 5 pesos to 50 pesos.

Note: Because of the covid-19 crisis, many banks have been offering Instapay transfers for FREE until further notice.

There’s NO FEE for receiving money. Only the sending account is charged.

You can send up to 50,000 pesos per transaction. Ask your bank if there’s a minimum amount to send and if there’s a maximum for the total amount you’re able to send within a day.

Here’s a list of banks and e-money issuers participating in INSTAPAY as of July 2021:

These Banks and E-Wallets Can Both Send and Receive via Instapay:

1. 1.  AllBank, Inc. (thrift bank)
   2.  Asia United Bank Corp. (AUB)
   3.  Bank of Commerce (Bankcom)
   4. Bank of the Philippine Islands (BPI)
   5. BDO Unibank, Inc. (BDO)
   6. BPI Direct BanKO Inc. (thrift bank)
   7. Binangonan Rural Bank, Inc. (rural bank)
   8. Camalig Bank, Inc. (rural bank)
   9. Card Bank, Inc. (rural bank)
   10. Cebuana Lhuillier Rural Bank (rural bank)
   11. Dungganon Bank, Inc. (rural bank)
   12. China Bank Savings, Inc. (thrift bank)
   13. China Banking Corp. (Chinabank)
   14. CTCB Philippines Corp.
   15. DCPay Philippines Inc. (e-money)
   16. Development Bank of the Philippines (DBP)
   17. Dungganon Bank (A Microfinance Rural Bank), Inc.
   18. East West Banking Corp. (Eastwest)
   19. East West Rural Bank, Inc. (rural bank)
   20. Equicom Savings Bank, Inc.
   21. Grab Pay (e-money)
   22. G-Xchange, Inc. (GCash) (e-money)
   23. ING Bank N.V.
   24. Land Bank of the Philippines (Landbank)
   25. Malayan Savings Bank, Inc. (thrift bank) formerly Malayan Bank Savings and Mortgage Bank Inc.
   26. Maybank Philippines, Inc.
   27. Metropolitan Bank and Trust Co. (Metrobank)
   28. Partner Rural Bank (Cotabato), Inc. (rural bank)
   29. PayMaya Philippines Inc. (e-money)
   30. Philippine Bank of Communications (PBCom)
   31. Philippine National Bank (PNB)
   32. Philippine Savings Bank (PSBank) (thrift bank)
   33. Philippine Trust Co. (Philtrust)
   34. Producers Savings Bank Corp. (thrift bank)
   35. Queen City Development Bank, Inc. (thrift bank)
   36. Rizal Commercial Banking Corp. (RCBC)
   37. Robinsons Bank Corp.
   38. Security Bank Corp. (SBC)
   39. StarPay Corporation (e-money)
   40. Sterling Bank of Asia Inc. (e-money)
   41. Sun Savings Bank, Inc. (thrift bank)
   42. Union Bank of the Philippines (Union Bank)
   43. United Coconut Planters Bank (UCPB)

There were only 24 financial institutions participating in INSTAPAY in March 2019; now there are 43.
RCBC Savings and PNB Savings are no longer in the list, as they have been acquired by their parent companies, RCBC and PNB, respectively.

These Banks or E-Money Below Can Receive Only, as of July 2021:

These banks or e-money below are expected to be able to both send and receive through Instapay soon.

1. Bangko Mabuhay, Inc. (rural bank)
2. BDO Network Bank, Inc. (rural bank)
3. Isla Bank, Inc. (thrift bank)
4. Mindanao Consolidated Cooperative Bank (rural bank)
5. OmniPay, Inc. (e-money)
6. Philippine Business Bank, Inc. (thrift bank)
7. Philippine Veterans Bank
8. Quezon Capital Rural Bank, Inc. (rural bank)
9. UCPB Savings Bank, Inc. (thrift bank)
10. USSC Money Services Inc. (e-money)
11. Wealth Development Bank Corp.(thrift bank)

Fees for Sending Money Online via INSTAPAY

as of July 2020, subject to change:
Most Instapay participants have been offering Instapay transfers for FREE since the covid-19 crisis started, until further notice.

FREE
G-Xchange (handles GCash)

Bank charging 5 pesos only
EastWest

Banks charging 10 pesos
Asia United Bank (AUB)
Bank of Commerce
China Bank
China Bank Savings
Maybank
Union Bank

Banks charging 15 pesos
Equicom Savings Bank
Malayan Bank Savings and Mortgage
PSBank
RCBC
Security Bank

Banks charging 20 pesos
PBCom
RCBC Savings

Banks charging 25 pesos
Landbank
Metrobank
PNB Savings
Robinsons Bank
UCPB

Bank charging 50 pesos
PNB
BDO

More information on INSTAPAY and PESONET

Transfer Money Online from BDO to BPI and Other Banks

Load PayMaya via BDO Online

Reference: BSP InstaPay Fact Sheet

InstaPay and PesoNet Fees  as of June 2021