BDO Makes InstaPay and PESONet Transfers Free on BDO Online and BDO Pay

BDO Unibank has made InstaPay and PESONet transfers free on BDO Online and BDO Pay, removing the small per-transfer charges that Filipino depositors used to pay when sending money to other banks and e-wallets. The country's largest bank announced the change on July 9, 2026, joining a fast-growing list of Philippine banks that have zeroed out interbank transfer fees after the Bangko Sentral ng Pilipinas (BSP), the country's central bank, tightened its rules on digital transaction pricing.

Key Takeaways

• BDO InstaPay and PESONet transfers are now free on BDO Online and BDO Pay, announced July 9, 2026.
• BDO previously charged about ₱10 to ₱25 per InstaPay transfer, depending on which BDO platform you used.
• The move follows BSP Circular 1238, effective July 4, which limits the gap between a bank's own-account and interbank fees to the actual "switch cost" of roughly ₱1.50.
• Major banks including BPI, Metrobank, Security Bank, LandBank, PNB, and UnionBank have also waived the fees.
• BDO stays the Philippines' biggest bank, with ₱5.530 trillion in total assets as of the first quarter of 2026.

What BDO changed

In an advisory posted on its website, BDO said that sending money through InstaPay and PESONet no longer carries a fee for customers using BDO Online (its web and app banking service) and BDO Pay (its mobile wallet app). GMA News reported that the bank confirmed the change on Thursday, July 9, 2026.

Until now, moving money out of BDO to another bank or e-wallet came with a small charge. BDO's fee was around ₱10 on BDO Pay and BDO Online, and up to ₱25 on its older digital and personal online banking channels. Retail depositors across the industry had been paying anywhere from ₱10 to ₱50 per transaction, depending on the bank and platform. With the waiver, that cost drops to ₱0 on BDO's main apps.

Transfers between two BDO accounts were already free. The change specifically removes the charge for interbank transfers, meaning money you send from BDO to accounts at other banks or to wallets like GCash and Maya.

InstaPay vs PESONet: what's the difference

Both are the Philippines' automated fund-transfer rails, but they work differently:

• InstaPay is the real-time option. The recipient's account is credited within seconds, 24 hours a day, 7 days a week, including weekends and holidays. It is capped at ₱50,000 per transaction, a limit set by the BSP. This is what most people use for quick, everyday sends.
• PESONet is the batch option. Transfers are processed in settlement cycles during banking hours, so funds usually arrive on the same or the next banking day. PESONet has no maximum amount, which makes it suited to larger payments such as payroll, rent, or supplier bills.

Why banks are dropping the fees: BSP Circular 1238

The wave of free transfers traces back to BSP Circular 1238, which took effect on Saturday, July 4, 2026. Under the rule, any difference between a bank's intrabank (own-account) and interbank transfer fees must reflect only the actual "switch cost" — the cost of processing a transaction through the payment network. That switch cost is estimated at about ₱1.50, so a bank whose intrabank transfers are already free can charge no more than roughly ₱1.50 for an interbank transfer. Many banks simply chose to waive the fee entirely rather than collect the small amount.

The BSP has said it wants banks and e-wallet operators to adopt "reasonable and fair, market-based" pricing for electronic fund transfers, backed by an analysis of the real costs of running the service. Regulators also planned to meet several institutions to check compliance. "Reading the circular, kung gusto mong ₱10 (ang interbank), ₱8.50 dapat 'yung transfer mo to same bank," BSP Deputy Governor Mamerto Tangonan said, explaining that the fee gap has to be justified by cost.

Which banks and e-wallets are free now

BDO is one of many. Here is how the major players compare after the new rule:

The Philippine National Bank said its waiver would benefit more than 1.6 million users of its PNB Digital app, timed to the bank's 110th anniversary.

Why It Matters for Filipino Users

For anyone splitting a restaurant bill, paying rent, or topping up a GCash or Maya wallet from a bank account, the ₱10 to ₱25 that used to vanish on each transfer now stays with you. Across dozens of transfers a month, that adds up to real savings, and it lowers a long-standing friction point for the country's push toward digital payments. Because BDO is the largest bank by assets — ₱5.530 trillion in the first quarter of 2026, with ₱20.1 billion in net income for the period — its move puts free interbank transfers within reach of a very large share of Filipino account holders.

One detail worth noting: e-wallets GCash and Maya still charge ₱10 to send from a wallet to a bank via InstaPay, even though their wallet-to-wallet transfers are free. That means bank apps like BDO Online are now cheaper than the e-wallets for interbank sends. The fee waiver does not change the transfer limits — InstaPay is still capped at ₱50,000 per transaction, while PESONet remains uncapped.

FAQ

Do I need to enroll or do anything to get free transfers?

No. BDO's advisory says InstaPay and PESONet transfers are now free on BDO Online and BDO Pay, with no enrollment step required.

Is there a limit to how much I can send for free?

InstaPay is capped at ₱50,000 per transaction under BSP rules, while PESONet has no maximum. Removing the fee does not change these limits.

Are transfers within BDO also free?

Yes. Sending money to another BDO account was already free. The change removes the charge for sending to other banks and e-wallets.