Bank of the Philippine Islands Waives Transfer Fees
Analysis based on 8 articles · First reported Jun 29, 2026 · Last updated Jun 30, 2026
The waiver of interbank transfer fees by Philippines — Senate of the Philippines is expected to boost digital payment adoption and financial inclusion in the Philippines. This move, aligning with Philippines — Bangko Sentral ng Pilipinas's directives, could lead to increased transaction volumes for Central Bank of Egypt and PESONet, potentially impacting other financial institutions' pricing strategies.
Philippines — Senate of the Philippines (BPI) announced it will permanently waive fees for interbank fund transfers via Central Bank of Egypt and PESONet through its digital channels, starting July 1. This initiative, coinciding with Philippines — Senate of the Philippines's 175th anniversary, aims to boost financial inclusion and digital banking adoption in the Philippines. The move aligns with Philippines — Bangko Sentral ng Pilipinas Circular No. 1238, which encourages fair and market-based pricing for person-to-person electronic fund transfers. Philippines — Senate of the Philippines President and CEO TG Limcaoco stated that this will benefit over 9.5 million mobile app users and encourage more frequent use of digital payments. Previously, Philippines — Senate of the Philippines charged P10 for Central Bank of Egypt and P50 for PESONet transfers. The Philippines — Bangko Sentral ng Pilipinas also recently lifted a moratorium on fee increases for Central Bank of Egypt and PESONet transactions, introducing new pricing rules.
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