Philippine National Bank said Tuesday it extending the waiver for InstaPay and PesoNet fund transfer fees until March 31, 2021 to encourage more customers to use digital banking channels.
PNB said it fully supports the Bangko Sentral ng Pilipinas’ call to promote digital channels for fund transfers.
“We continue to strengthen our campaign on encouraging more customers to use digital banking since the start of the community quarantine. We see digital banking is gaining ground as customers learn more about the benefits of these services. This extension will encourage more customers to use digital channels,” it said.
“While all of our branches are open, PNB is giving customers the safer option of banking online to minimize the need to go out of their homes to visit branches and ATMs. We see an upward trend in digital transactions as more customers get enrolled. Customers have become more comfortable in using these digital applications through their computers and smartphones. All these efforts are aligned to our bank-wide initiatives as we continue to thrive in the ‘new normal’,” the bank said.
Metropolitan Bank & Trust Co. also said the waiver of InstaPay and PesoNet fees on Metrobank Online and the Metrobank Mobile App would be extended to March 31, 2021.
InstaPay lets customers do real-time transfers of up to P50,000 daily while PesoNet allows money transfers of up to P200,000 with a 3 p.m. cut-off daily, according to Metrobank.
Philippine Savings Bank, the consumer banking unit of Metrobank, said it would continue to waive fees for PaSend, InstaPay and PESONet interbank fund transfers made via the bank’s mobile app and online (Internet banking) facilities until further notice.
“This extension aims to further encourage the bank’s customers to take advantage of the opportunity to send money to other banks for free, maximize the use of its reliable online banking facility, and utilize the powerful functionalities of its mobile application—allowing banking transactions to be done simply and safely in the comfort of their own home,” PSBank said.
PSBank said that since the start of the pandemic, it saw an exponential rise in the use of its digital banking services.
“The bank was digital-ready and was able to keep up with its customers’ requirements, thanks to the digital capabilities the Bank invested in over the years. PSBank is still committed to improve on them given the fast adoption of consumers to non-contact platforms necessitated by the health crisis,” it said.