From P25 to P10: BPI announces lower transfer fees
Bank of the Philippine Islands is offering lower fees when you transfer money to other banks and e-wallets for a limited time.
The bank announced its "P10 na lang" promo on its official website, saying you can now carry out fund transfers via Instapay for only P10.
The promo is available to all BPI customers with any Peso Savings or Peso Checking deposit account, those who are enrolled on the BPI app and BPI online, as well as all BPI BizKo customers using the BizKo app.
"The lowered fee is non-transferable, and cannot be converted or exchanged for cash, credit, benefit, advantage, or any property," BPI noted.
The deal will run from March 7 to May 31 only.
Here's how you can transfer funds to another bank via Instapay on the BPI app:
- On your BPI app, click “Transfer” anf then “To another bank.”
- Choose the BPI account you're transferring money from.
- Click the bank you're going to transfer to in the InstaPay list.
- Input the account details and the amount you're going to transfer.
- Use mobile key to confirm your transaction.
This comes almost a month after the bank announced it's halting its e-wallet loading service on the mobile banking app for GCash and Maya.
In an advisory, BPI said customers would have to load their GCash and Maya accounts through Instapay and PESOnet interbank funds transfer facility starting Feb. 13 for P25.
BPI said the move was made "to align with the National Retail Payment System Framework established by the Bangko Sentral ng Pilipinas (BSP) via BSP Circular 980 and Philippine Payments Management, Inc. (PPMI) Advisory No. 2024-1104-020."
