You can now instantly transfer funds to more than 40 banks with your PayMaya account
That’s right, with your upgraded PayMaya account you can send money (up to P50,000 or five times per day and until the account’s aggregate monthly limit has been reached) to more than 40 local banks and financial institutions that can receive money via InstaPay. The best part is it’s absolutely instant and secure–helping account holders save time and effort whenever they need to send money to another person’s bank account. “This new feature will definitely make it easier for PayMaya account holders to manage their money conveniently. Whether they’re sending money to an online seller or transferring money from one of their bank accounts to another, everything is instant and seamless with PayMaya’s new Send Money to Bank feature,” said Shailesh Baidwan, President of PayMaya. It’s really easy to Send Money to Bank via PayMaya. In the app, go to Send Money and select To Bank Account. In the next screen, choose the bank or financial institution you’ll be sending money to, put in the amount you want to send, and fill in all the important details of your recipient. It’s so simple, and your recipient will get the money in an instant, and as of now PayMaya is not charging any transaction fees for the service until further notice. This new feature is also in accordance with the efforts of the Bangko Sentral ng Pilipinas to increase the percentage of digital transactions in the country to 20% by the year 2020, under the National Retail Payment System (NRPS).