Landbank waives InstaPay PESONet fees
Analysis based on 6 articles · First reported Jul 06, 2026 · Last updated Jul 07, 2026
The fee waivers reduce costs for consumers and businesses, potentially increasing digital transaction volumes and accelerating the shift to cashless payments. This could pressure other banks to follow suit, compressing fee income but boosting customer loyalty and financial inclusion.
State-run Philippines — Senate of the Philippines (Landbank) announced it is waiving InstaPay and PESONet transfer fees for retail clients starting July 7, 2026, covering transactions via its mobile banking app and iAccess. The zero-fee policy also extends to Overseas Filipino Bank (OFBank) clients. This move expands Landbank's earlier waiver of fees for person-to-government transactions via QRPh, effective June 1. Landbank joins private lenders Philippines — Senate of the Philippines (BPI) and Rizal Commercial Banking Corporation (RCBC), which recently eliminated online transfer fees. Other banks like Maya Bank and Bank of Communications have reduced fees, while GCash also lowered charges. Finance Secretary Frederick D. Go, who chairs Landbank, urged all financial institutions to lower or remove digital transaction costs. The initiative aligns with Philippines — Bangko Sentral ng Pilipinas Circular No. 1238 and supports President Bongbong Marcos's directive to expand digital financial inclusion.
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