Most of us rely on online payments now, so we must stay updated with the policies of our e-banks. To avoid unnecessary expenses, it is our responsibility to stay up-to-date with bank transfer fees and other charges.
Also read: TikTok Creators in the Philippines for Financial Advice (Investments, Cryptocurrency, and NFT Tips!)
When the coronavirus (COVID-19) pandemic hit the Philippines, the Bangko Sentral ng Pilipinas (BSP) encouraged banks to waive convenience fees for bank transfers for a while. As of 1 Jul 2022, here is the full list of all convenience fees for bank transfers.
Tip: Looking for a specific bank’s transfer fee? Hold CTRL + F or Command + F to quickly find your bank in this list.
List of bank transfer fees as of 1 Jul 2022 (via PESONet)
- Al-Amanah Islamic Investment Bank of the Philippines – ₱55 to ₱110
- AllBank, Inc. – ₱25
- Asia United Bank Corporation – ₱8
- Australia and New Zealand Banking Group, Ltd. – ₱0 to ₱400
- Bangkok Bank Public Co. Ltd. – ₱150 to ₱250
- Banko of America, N.A. – ₱20 to ₱2,100
- Bank of Commerce – ₱15 to ₱25
- Bank of Florida, Inc. – ₱50
- Bank of Makati, Inc. – ₱50 to ₱300
- Bank of the Philippine Islands (BPI) – ₱0 to ₱50
- BDO Unibank, Inc. – ₱50
- BDO Network Bank, Inc. – ₱100 to ₱500
- BanKo, A Subsidiary of BPI – ₱0 to ₱50
- Camalig Bank, Inc. – ₱20 to ₱500
- Cathay United Bank Co., Ltd. Manila Branch – ₱200
- Cebuana Lhuillier Rural Bank, Inc. – ₱50
- China Bank Savings, Inc. – ₱20 to ₱50
- China Banking Corporation – ₱20 to ₱200
- Citibank, N.A. – ₱100
- CTBC Bank Philippines Corporation – ₱25
- DCPay Philippines – ₱0 to ₱5
- Deutsche Bank AG – ₱10 to ₱2,000
- Dungganon Bank, Inc. – ₱10
- Equicom Savings Bank (retail clients) – ₱15
- First Consolidated Bank, Inc. – ₱15 to ₱550
- Industrial Bank of Korea – ₱200
- Innovative Rural Bank – ₱150
- JP Morgan Chase Bank, N.A. – ₱0 to ₱125
- KEB Hana Bank – Manila Branch – $5 (peso equivalent)
- Land Bank of the Philippines – ₱15 to ₱150
- Malayan Savings Bank – ₱50
- Maybank Philippines, Inc. – ₱30
- Mega International Commercial Bank Co., Ltd. – $10 (peso equivalent)
- Metropolitan Bank and Trust Company (Metrobank) – ₱50
- Mizuho Bank, Ltd. – Manila Branch – ₱50
- MUFG Bank, Ltd. – ₱250 to ₱350
- Philippine Bank of Communications (PBCOM) – ₱15 to ₱500
- Philippine Naitional Bank (PNB) – ₱20 to ₱50
- Philippine Savings Bank (PSB) – ₱50
- Philippine Trust Company – ₱50
- Philippine Veterans Bank – ₱500
- Producers Savings Bank Corporation (PS Bank) – ₱100 to ₱500
- Rizal Commercial Banking Corporation (RCBC) – ₱10
- RCBC via DiskarTech mobile app – ₱27.50
- Robinsons Bank Corporation – ₱20 to ₱100
- Security Bank Corporation – ₱15 to ₱50
- Shinhan Bank Manila – ₱100
- Standard Chartered Bank – ₱50
- Sterling Bank of Asia – ₱15 to ₱30
- Sumitomo Mitsui Banking Corporation – Manila Branch – ₱250
- Union Bank of the Philippines – ₱0 to ₱100
- United Coconut Planters Bank – ₱50 to 150
- United Overseas Bank Limited, Manila Branch – ₱30 to ₱100
- Wealth Development Bank Corporation – ₱30 to ₱100
- Yuanta Savings Bank Philippines, Inc. – ₱100
- Zybi Tech, Inc. – ₱30
Also read: Digital Banks in the Philippines That You Can Open Virtually
List of bank transfer fees as of 1 Jul 2022 (via InstaPay)
- AllBank, Inc. – ₱15
- Asia United Bank Corporation – ₱8
- Bank of Commerce – ₱15 to ₱25
- Bank of the Philippine Islands (BPI) – ₱0 to ₱25
- BDO Unibank, Inc. – ₱25
- BanKo, A Subsidiary of BPI – ₱0 to ₱25
- Card Bank, Inc. – ₱12
- Cebuana Lhuillier Rural Bank, Inc. – ₱15
- China Bank Savings, Inc. – ₱10
- China Banking Corporation – ₱10 to ₱25
- CTBC Bank Philippines Corporation – ₱15
- DCPay Philippines – ₱10
- Dungganon Bank, Inc. – ₱10
- East West Banking Corporation – ₱10
- Equicom Savings Bank (retail clients) – ₱15
- G-Xchange Inc. (GCash) – ₱15
- Land Bank of the Philippines – ₱25
- Malayan Savings Bank – ₱15
- Maybank Philippines, Inc. – ₱10
- Metropolitan Bank and Trust Company (Metrobank) – ₱25
- PayMaya Philippines Inc. – ₱15
- Philippine Bank of Communications (PBCOM) – ₱20
- Philippine Naitional Bank (PNB) – ₱150 to ₱20
- Philippine Savings Bank (PSB) – ₱15
- Rizal Commercial Banking Corporation (RCBC) – ₱8 yo ₱25
- RCBC via DiskarTech mobile app – ₱27.50
- Robinsons Bank Corporation – ₱10 to ₱25
- Security Bank Corporation – ₱20 to ₱25
- Standard Chartered Bank – ₱25
- StarPay Corporation – ₱15
- Sterling Bank of Asia – ₱15
- Sun Savings Bank – ₱10
- Union Bank of the Philippines – ₱10 to ₱30
- United Coconut Planters Bank – ₱25
- Wealth Development Bank Corporation – ₱15
- Zybi Tech, Inc. – ₱8
Note that the above-mentioned bank transfer convenience fees are applicable for inter-bank transactions only. Rest assured, AllBank, BDO, GCash, and PayMaya will retain their FREE services for intra-bank transfers.
Also read: How to Send Money to Palawan Express From Home
If you are looking for online banks with zero transfer fees, here are some alternatives you may consider.
List of banks postponing charges until further notice
- GrabPay (via InstaPay)
List of banks postponing charges until 22 Jul 2022
- Rural Bank of Guinobatan (via InstaPay and PESONet)
List of banks postponing charges until 31 Dec 2022
- Bank of China (via PESONet)
- CIMB Bank Philippines (via PESONet)
- Development Bank of the Philippines (DBP) (via PESONet)
- East West Banking Corporation (via Peso Net)
- East West Rural Bank, Inc. (via PESONet)
- Gpay Network PH, Inc. (via InstaPay)
- HSBC (retail clients) (via PESONet)
- HSBC Savings Bank (retail clients) (via PESONet)
- ING Bank, N.V. (via InstaPay and PESONet)
- Philippine Business Bank, Inc. (via PESONet)
- Tayo Cash Inc. (via InstaPay)
- Tonik Digital Bank (via PESONet)
- Union Bank (retail clients) (via PESONet)
Also read: Mobile Banking Hacks: 6 Ways to Avoid Bank Transfer Fees
Have you shifted to digital banking? If so, how do you feel about these bank transfer fees? In this age of social distancing, we sure hope that you find the best online bank that suits your needs. Let us know what you think in the comments!
