Banks with waived online transfer fees until December 31, 2021

The Bangko Sentral ng Pilipinas (BSP) on Tuesday released an updated list of banks and financial institutions that are waiving online transaction fees as late as December 31, 2021.

Below are the banks that waived PesoNet and InstaPay fees:

The BSP launched InstaPay in April 2018, an electronic fund transfer (EFT) payment system that enables individuals to wire funds across banks in real-time.

Meanwhile, PESONet was launched in 2017, enabling the government, businesses, and individuals to initiate electronic fund transfers and recurring payments in financial institutions supervised by the central bank within the same banking day.

In July last year, BSP Governor Benjamin Diokno said he wants at least half of all Philippine transactions done digitally by the end of his term in 2023. —Ted Cordero/KG, GMA News