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.
