PSBank now offers free InstaPay and PESONet transfers through its mobile and online banking platforms effective July 9, allowing customers to send funds digitally without incurring fees.
The announcement comes alongside parent company Metrobank, which also waived transfer fees across the same payment networks as part of a broader push to encourage greater adoption of digital banking. The move follows the recent issuance of BSP Circular No. 1238, which encourages banks to reduce interbank transfer fees and requires lenders to justify any remaining charges. Together, the fee waivers strengthen the Ty Group banks' digital banking offerings while supporting the BSP's goal of making digital financial services more affordable and accessible.
About PSBank
Philippine Savings Bank (PSBank) is an industry trailblazer in innovative and future-ready banking, and is the country's consumer and retail bank of choice for more than 65 years. Its primary objective of delivering quality customer service, simplified processes, quick credit decisions, and consumer-focused products are underscored by a clear promise: Simple Lang, Maaasahan.
It is the retail banking arm and a
subsidiary of the Metropolitan Bank and Trust Company. To date, PSBank's
nationwide network has already reached 250 branches and over 500 in-branch and
offsite ATMs - ready to serve its ever-growing client base.
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