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.

Instapay vs PesoNet Funds Transfer mobile banking

Choose INSTAPAY,  if you need instant transfer. Any day, any hour. Transfer fee ranges from 5 to 50 pesos.

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, or the next business day. Only on business days.

Use PesoNet also if you’re transferring more than 50,000 pesos.

Under Send Money, Transfer Money or Funds Transfer in your online banking, you can find Instapay or PesoNet.

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


AUB 10
Bank of Commerce 10 to 25
BDO 50
BPI 50
BPI Direct Banko 2 to 50
Cebuana Lhuillier Rural Bank 15 to 50
China Bank 10 to 15
China Bank Savings 10
CTBC Philippines 0
DCPay Philippines 0 to 10
Dungganon Bank 10
Eastwest 5
Equicom Savings 15
GCASH (G-Xchange) FREE
LandBank 25
Malayan Bank 15
MayBank 0 to 40
Metrobank 25
PayMaya FREE
PBCom 20
PNB 50
PSBank 15 to 150
RCBC (Rizal Commercial Banking Corp.) 15
Robinsons Bank 1 to 25
Security Bank 15
Sterling Bank 15
Sun Savings Bank 10
Union Bank 10


These 5 banks are INSTAPAY RECEIVER only as of July 2020:

1. DBP (Development Bank of the Philippines)
2. ING Bank
3. Philippine Business Bank
4. PhilTrust
5. Philippine Veterans


Al-Amanah Islamic Investment Bank 50
AUB (Asia United Bank) 10
ANZ 0 to 300
Bangkok Bank 150 to 250
Bank of America 20 to 2,100
Bank of Commerce 10 to 25
Bank of China 30
Bank of Florida 50
BDO Unibank 50
BDO Network Bank 100 to 500
BPI (Bank of the Philippine Islands) 50
BPI Direct Banko 0 to 50
China Bank 50
China Bank Savings 150
CIMB Philippines 150
Citibank 0 to 100
CTBC Bank 403
DCPay Philippines 0 to 5
Deutsche Bank 10 to 2,000
DBP (Development Bank of the Philippines 10 to 50
Dungganon Bank 10
Eastwest FREE
Equicom Savings 15
First Consolidated Bank 25 to 500
HSBC (Hong Kong & Shanghai Banking Corp. 0 to 150
HSBC Savings
KEB Hana Bank $10 to $105 (peso equivalent)
Industrial Bank of Korea 200
JP Morgan 0 to 125
LandBank 15 to 150
MayBank $15 (peso equivalent)
Mega International Commercial Bank $10 (peso equivalent)
Metrobank 100
Mizuho Bank 50
MUFG Bank 250
PayMaya Philippines 15 to 500
PBB (Philippine Business Bank)
PBCom (Philippine Bank of Communications) 15 to 500
PNB (Philippine National Bank) 30 to 203
PSBank (Philippine Savings Bank) 50 to 150
Philippine Veterans
Producers Savings Bank 100 to 500
RCBC (Rizal Commercial Banking Corp.) 10
Robinsons Bank 1 to 100
Security Bank 20 to 50
Shinhan Bank 100
Standard Chartered 50
Sterling Bank 100
Sumitomo Mitsui 0 to 250
Union Bank FREE
UCPB 100 to 150
United Overseas 775 up
Yuanta Savings 100

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 to Any Institution? No. Only to Instapay or PesoNet members
Your Online Banking will let you choose from a List of Participating Institutions
Which institution supervises Instapay or PesoNet? banking industry-led Philippine Payment Management Inc., which is overseen by the BSP
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? Once the transfer is completed, you can no longer cancel.
What happens if the money was debited from the sender’s 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 may take a day or a few days. There might be an additional fee for this process.

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
– Higher maximum limit per transaction
– Business days only (and business hours only for some banks)

More information on INSTAPAY or PESONET

Money Transfer Using Your BDO Online Banking

Interbank Transfer via INSTAPAY


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

Leave a Reply