Instapay vs PesoNet Funds Transfer

INSTAPAY vs PESONET funds transfer — whichever you use, you can now easily transfer money from your bank to any other bank online. Just use your online banking and any of your Philippine peso accounts.

. When to use Instapay or PesoNet
. Instapay Fees as of June 30, 2021
. PesoNet Fees as of June 30, 2021
. FAQ about Instapay and PesoNet
. Summary of Instapay vs PesoNet comparison
. Cash-In for FREE Transfer between partners

Instapay vs PesoNet Funds Transfer mobile banking

Choose INSTAPAY,  if you need instant transfer. Any day, any time. You can transfer up to 50k pesos per transfer. Transfer fee ranges from 5 to 40 pesos. You can transfer many times per day, but check if your bank has a maximum aggregate amount that you can transfer per day.

Note: Most banks have been offering Instapay transfers for FREE due to the covid-19 crisis until further notice.

Choose PesoNet,  if you’re not rushing, especially if your bank does not charge anything for PesoNet. Eastwest, Union Bank and ING Bank offer this transfer for FREE. Transfer is done within the day if you transfer before cut-off time, or the next business day. Only on business days.

Use PesoNet also if you’re transferring more than 50,000 pesos…to save on fees.

You can find Instapay or PesoNet within your online banking system, under Send Money, Transfer Money or Funds Transfer.

Some banks offer Instapay only; other banks offer PesoNet only, like CIMB. There are banks that offer both, like Eastwest.

Here are banks offering Instapay money transfer, including transfer fees:

 INSTAPAY FEES as of June 30, 2021

Asia United Bank (AUB)FREE until 12-31-21
Bank of Commerce10 to 25
Bank of the Philippine Islands (BPI)25
BPI Direct Banko25
Camalig BankFREE until 9-30-21
Card Bank12
Cebuana Lhuillier Rural Bank15
China Bank SavingsFREE
China Banking Corp. (Chinabank)FREE until 12-31-21
CTBC Philippines15
DCPay Philippines10
Dungganon Bank10
East West Banking Corp. (Eastwest)5 (FREE until 9-30-21)
East West Rural BankFREE
Equicom Savings15 (FREE until 9-30-21)
GCASH (G-Xchange)15
LandBank25 (FREE until 9-30-21)
Malayan Bank15
MayBank10 to 40
Metropolitan Bank and Trust Co. (Metrobank)25
Philippine Bank of Coms. (PBCom)20
Philippine National Bank (PNB)10 to 15
Philippine Savings Bank (PSBank)15
Rizal Commercial Banking Corp. (RCBC)25 (FREE until 12-31-21)
Robinsons Bank1 (25 for companies)
Rural Bank of GuinobatanFREE until 12-31-21
Security Bank15 to 25
StarPay Corp.15
Sterling Bank15
Sun Savings Bank10
Union Bank30 (FREE until 12-31-21)
United Coconut Planters Bank (UCPB)25 (FREE until 9-30-21)

INSTAPAY RECEIVER only as of June 30, 2021

These 4 banks are INSTAPAY RECEIVER only as of June 30, 2021:

  • BDO Network Bank
  • DBP (Development Bank of the Philippines) — with partners only
  • Philippine Business Bank
  • Philippine Veterans

PESONET Fees as of June 30, 2021

Al-Amanah Islamic Investment Bank55
AllBank 25
Asia United Bank (AUB)10 (FREE until 9-30-21)
Australia and New Zealand Banking (ANZ)0 to 400
Bangkok Bank150 to 250
Bank of America20 to 2,100
Bank of China30
Bank of Commerce10 to 25
Bank of Florida50
Bank of MakatiFREE
Bank of the Philippine Islands (BPI)50
BDO Unibank50
BDO Network Bank100 to 500
BPI Direct Banko0 to 50
Camalig Bank20 to 500
Cathay United Bank Manila200
China Bank SavingsFREE
China Banking Corp. (Chinabank)FREE until 12-31-21
CIMB Philippines150 until 12-31-21
Country Builders BankFREE until 7-31-21
CTBC BankFREE until 12-31-21
DCPay Philippines 5
Deutsche Bank10 to 2,000
DBP (Development Bank of the PhilippinesFREE to 10
Dungganon Bank10
Eastwest BankingFREE until 9-30-21
Eastwest Rural BankFREE until 9-30-21
Equicom SavingsFREE to 15
First Consolidated Bank15 to 300
The Hongkong & Shanghai Banking Corp. (HSBC)700 (FREE until 9-30-21)
HSBC Savings Bank0 to 150
Industrial Bank of Korea200
ING BankFREE until 12-31-21
JP Morgan0 to 125
KEB Hana Bank Manila$10 to $105 in peso
LandBank15 to 150 (FREE until 9-30-21)
Malayan Savings Bank50
MayBank$15 in peso
Mega International Commercial Bank$10 in peso
Metropolitan Bank and Trust Co. (Metrobank)100
Mizuho Bank50
MUFG Bank250
Philippine Bank of Communications (PBCom)15 to 500
Philippine Business Bank FREE
Philippine National Bank (PNB)10 to 50
Philippine Savings Bank (PSBank)50
Philippine Trust Co. (Philtrust) FREE
Philippine Veterans Bank FREE until 12-31-21
Producers Savings Bank100 to 500
Rizal Commercial Banking Corp. (RCBC)10 (FREE until 12-31-21)
Robinsons Bank20
Rural Bank of GuinobatanFREE
Security Bank20 to 50
Shinhan Bank Manila100
Standard Chartered Bank50
Sterling Bank of Asia15 to 30
Sumitomo Mitsui Banking Corp. Manila250
Union Bank100 (FREE until 9-30-21)
United Coconut Planters Bank (UCPB)0 to 150
United Overseas Bank Manila775 up
Yuanta Savings Bank100

FAQ about Instapay and PesoNet

Who Pays the Transfer Fee? Sender

Does the Receiver Pays a Fee? No

Does the Receiver Receive the Full Amount? Yes

Can I Use Instapay or PesoNet to Transfer Money to an Account Abroad? No

Can I Transfer Money from my US Dollar account via Instapay or PesoNet? No

Can I Transfer to Any Institution? No. Only to Instapay or PesoNet member banks, e-money or e-wallet . Your Online Banking will let you choose from a List of Participating Institutions

What are needed to make a transfer?
1. Your online banking account
2. Money in your peso account
3. Your mobile phone with phone number registered in your online banking account
(Your one-time-password (OTP) will be sent to your phone)
4. Information on your receiving account (Name of bank, account name and account number)

Can I Cancel a Transfer? Sorry, no. Once the transfer is completed, you can no longer cancel. So be careful.

What happens if money was debited from my account but not credited by the receiving bank? This happens because of mismatch in account name or account number, or the receiving account has been closed, frozen or dormant. The amount will be returned by the receiving bank and will be credited back to your account. This process might take a few days and there might be a charge for the return process.

What happens if I transferred to a wrong account? If you know the account owner, talk with them about what happened and about returning the money. If they deny your request, then treat your mistake as an expensive lesson. If it’s a big amount of money, ask legal professionals if there’s a legal way you can get the money back.
If you don’t know the account owner, sorry, you can no longer do anything about it. Accept you made a costly mistake, be determined not to commit this mistake again, and find ways to increase your earnings.
Remember, you can’t blame your bank, e-wallet or e-money for this type of mistake. So again, BE CAREFUL.

My account was debited, but was not transferred to the receiving account, and has not been returned after a week. First, contact your bank, e-wallet/e-money. Provide the details of your transaction, and ask for the return of your money. Document your requests and follow-ups, in case you need to ask help from the BSP.
If your request is ignored, contact the BSP via one of the following:
. BSP Webchat –
. BSP Facebook –
. Text – 21582277 (for Globe subscribers only); Other networks will join soon.

Who supervises Instapay or PesoNet? It’s Philippine Payments Management Inc. (PPMI), which is composed of BSP-supervised banks and non-bank financial institutions, and which is also overseen by the BSP. As of August 12, 2021, there are 141 member institutions: 21 universal banks, 22 commercial banks, 28 thrift banks, 43 rural banks, 2 cooperative banks, and 25 non-bank electronic money issuers.

INSTAPAY vs PESONET Funds Transfer — What’s the difference?

If you need instant transfer, choose Instapay.
If you need to transfer much more in one transaction, choose PesoNet.


  • Instant transfer
  • Maximum of 50,000 pesos per transaction
  • Daily limit depends on your bank
  • Transfer anytime 24/7, any day, including weekends and holidays


  • Not instant transfer, but within the day, or next business day for transactions done after cut-off time
  • No maximum limit per transaction
  • Business days only (and business hours only for some banks)
  • Good for companies transferring large amounts.
  • PesoNet is the one used by SSS to send member benefits.

Cash-in for FREE Transfer

If your bank, e-money or e-wallet charges much for money transfer, check your mobile app if it has a FREE Cash-in service for the sending bank. Paymaya, GCash or CIMB offer FREE Cash-in services from their preferred partners:
Paymaya: Free Cash-in from Linked BPI account
GCash: Free Cash-in from Linked accounts of BPI and UnionBank
CIMB: Free Cash-in from BDO, Metrobank, Landbank, Chinabank, Bank of Commerce, PSBank. UCPB and Robinsons Bank

Money Transfer Using Your BDO Online Banking

Source of Instapay and PesoNet Fees Data: BSP-Supervised Financial Institutions’ Transfer Fees


  1. Vryant Malayo 06/29/2021
    • Nora 06/29/2021

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