Transferring fees to other banks or e-wallets for small transactions are usually accompanied by a fee, which may seem small at first, but can pile up to a substantial amount. That’s why BPI has taken the initiative to make it more convenient and lessen the burden on consumers.
BPI Waives Fees for InstaPay Transfers
From July 5 to September 30, users of the new BPI app will no longer have to pay a transfer fee when transferring up to PHP 1,000 to other banks or e-wallets via InstaPay. This lets customers conveniently transfer funds for settling bills and for other small transaction payments.
The move is also in compliance with the BSP’s proposal to remove fees for small-value online transactions and is part of BPI’s customer obsession strategy to address the financial inclusion gap in the country, which means giving customers easy and convenient access to financial products and services that cater to their needs.
“We encourage our clients to take advantage of the new BPI app and transfer up to PHP 1,000 via Instapay for free to fully enjoy and maximize the benefits of digital banking. As the oldest bank in the Philippines, we are committed to staying ahead of the curve to continuously deliver better, real value for our clients.
– Fitzgerald Chee, BPI Consumer Platforms Head
The new BPI App is available for download from the Google Play Store. The bank advises its customers to move to the new app before July 31, 2023, to “continue enjoying seamless banking.”
Emman has been writing technical and feature articles since 2010. Prior to this, he became one of the instructors at Asia Pacific College in 2008, and eventually landed a job as Business Analyst and Technical Writer at Integrated Open Source Solutions for almost 3 years.
