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Metrobank cuts InstaPay and PESONet fees to zero
The BSP earlier directed local banks to bring interbank transfer fees closer to zero.
Metropolitan Bank & Trust Company (Metrobank) has cut InstaPay and PESONet fees to zero.
“Whether it’s your usual transactions via InstaPay, or you’re sending bigger amounts via PESONet, all transfers are now free,” the Philippine bank announced on 9 July 2026.
The move comes after the Bangko Sentral ng Pilipinas (BSP) directed local banks to bring interbank transfer fees closer to zero. BSP said that banks must be ready to justify their fees with cost analyses if asked.
Another major Philippine bank, BPI, had already cut its interbank fund transfer fees to zero on 1 July.
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