01/08/2026
Your ultimate guide to FREE bank transfers is here! ✨
Updated this August! We’ve refreshed our guide as more banks finalized their free fund transfer rollout.
Most traditional banks, digital banks, and e-wallets now offer free transfers, while a few still charge fees. We’ve also indicated which banks have limits or conditions for enjoying free InstaPay and PESONet transfers.
For context, the Bangko Sentral ng Pilipinas (BSP) clarified that it did not require banks and electronic money issuers (EMIs) to waive transfer fees under Circular No. 1238. Instead, the circular requires financial institutions to ensure that any difference between intrabank and interbank transfer fees reflects only the actual cost of routing transactions through a payment network.
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