RCBC to Waive InstaPay Fees on Digital Platforms Starting July 4

Rizal Commercial Banking Corp. (RCBC) will eliminate transaction fees for real-time fund transfers through the InstaPay network starting July 4. The policy update applies to transactions executed via its digital banking applications, RCBC Pulz and RCBC DiskarTech (, according to statements posted by the lender on July 3.

The announcement follows a similar decision by the Bank of the Philippine Islands (BPI), which permanently waived its InstaPay and PESONet transfer fees effective July 1.

Pricing Structures and Account Limits

Under the new guidelines, retail users of the RCBC Pulz application can execute up to 30 free InstaPay transactions per month. This waiver is capped at a maximum of 30 transfers and requires a minimum transaction amount of ₱100. Transactions exceeding the monthly limit or falling below the ₱100 threshold will incur a standard fee of ₱10.

For the bank’s financial inclusion-focused application, RCBC DiskarTech, person-to-person transfers via InstaPay will be completely free. RCBC stated that DiskarTech transactions will not be subject to monthly volume limits or minimum transfer caps.

Industry Framework

The pricing adjustments align with Bangko Sentral ng Pilipinas (BSP) Circular No. 1238, which lifted the five-year moratorium on electronic fund transfer fees. The regulatory framework requires local financial institutions to implement fair, market-based pricing models while expanding digital retail payments across the country.

RCBC noted that the policy aims to reduce operational barriers for everyday banking users across different market segments. To access the zero-fee transfer features, users must download or update the respective banking applications on major digital storefronts.

This article is published on BitPinas: RCBC to Waive InstaPay Fees on Digital Platforms Starting July 4

What else is happening in Crypto Philippines and beyond?