Philippine National Bank (PNB) will waive transaction fees for domestic fund transfers via InstaPay and PESONet starting July 10, 2026. The lender announced through an official advisory that the zero-fee structure will apply to transactions processed through its mobile application, PNB Digital. (Read More: List: PH Banks With Free InstaPay and PESONet Transfers After BSP Fee Rules)
The bank stated that the fee removal coincides with the advance commemoration of its 110th anniversary. Under the update, depositors will incur ₱0 charges for electronic fund transfers across both local retail networks.
Broader Banking Sector Fee Waivers
PNB’s decision follows consecutive fee reductions by several major commercial and state-run banks in the Philippines. The shift comes after the Bangko Sentral ng Pilipinas (BSP) implemented Circular No. 1238, which lifted a five-year freeze on electronic payment pricing.
Bank of the Philippine Islands (BPI) permanently eliminated transaction fees for digital transfers via InstaPay and PESONet on July 1. Rizal Commercial Banking Corp. (RCBC) updated its transaction pricing on July 4, offering 30 free monthly InstaPay transfers on its RCBC Pulz application and unrestricted free transfers via RCBC DiskarTech. State-run Land Bank of the Philippines (LANDBANK) subsequently waived its retail InstaPay and PESONet transfer fees on July 7.
Operational Requirements
To utilize the free domestic fund transfers, consumers are required to execute transactions directly through the PNB Digital platform. Deposits with the bank are insured by the Philippine Deposit Insurance Corporation (PDIC) up to ₱1 million per depositor.
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