Banks extend waiver of transfer fees
Published December 29, 2020 1:30pm Local lenders on Tuesday announced the extension of the waiver of bank transfer fees, in efforts to encourage the use of digital banking channels. Below are advisories on the extension on the waiver:
Philippine National Bank (PNB) Philippine National Bank is further extending the waiver for InstaPay and PesoNet fund transfer fees until March 31, 2021 to encourage more of its customers to use digital banking channels.
Philippine Savings Bank (PSBank) Philippine Savings Bank, the consumer banking arm of the Metrobank Group, will continue to waive fees for PaSend, and InstaPay and PESONet interbank fund transfers made via the Bank’s Mobile App and Online (Internet Banking) facilities until further notice.
PNB President and Chief Executive Officer Wick Veloso
In a statement on Tuesday, Tan-led Philippine National Bank announced that it was extending the waiver of fees until March 31.
PNB President and Chief Executive Officer Wick Veloso said the extension was meant to encourage more customers to use digital banking channels.
“PNB fully supports the Bangko Sentral’s 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,” he said.