Bank of the Philippine Islands (BPI) said Monday it will adopt InstaPay for all inter-institution cash-in transactions starting Oct. 1, 2025, to comply with the Bangko Sentral ng Pilipinas’ directive to improve interoperability and transparency in digital finance.
It said a standard P15 service fee would be charged for cash-in transactions via InstaPay, including those to GCash, to cover clearing costs from BancNet.
The new charge follows earlier rollouts for ShopeePay and Seabank in August.
BPI said customers could still enjoy lower fees through the BPI App, with GCash transfers via InstaPay costing only P10. Select customer segments and merchant payments can also still enjoy free transfers.
Opening a BPI #MySaveUp account on GCash will remain with no maintaining balance. Fund transfers from the BPI App to GSave will also stay free of charge, it said.
“This transition ensures compliance with regulatory standards while continuing to offer customers flexible and affordable ways to manage their finances,” BPI said in a statement. Thony Rose Lesaca
