THE Land Bank of the Philippines (LANDBANK) announced that it will begin waiving fees for InstaPay and PESONet transactions starting Tuesday, July 7, 2026.
The move makes the state-owned financial institution one of the latest major banks to eliminate charges for electronic fund transfers, aligning with the Bangko Sentral ng Pilipinas’ efforts to make digital banking more affordable and accessible for all Filipinos. The policy applies to both individual and business accounts, allowing customers to send money to other banks and financial institutions without incurring additional costs.
LANDBANK Chairman and Finance Secretary Frederick Go emphasized that this initiative carries significant economic benefits for the public. “Every peso saved on transfer fees is a peso that Filipino families can spend on their daily needs and that businesses can reinvest in growth,” he stated. By removing these charges, the bank aims to reduce the financial burden on ordinary households while supporting small and medium enterprises, which often rely on frequent transactions to manage their operations and cash flow.
This development follows a series of similar moves across the banking sector, driven by new central bank regulations that require interbank fees to reflect only actual processing costs. The free transfer service is expected to encourage more Filipinos to shift from over-the-counter transactions to digital platforms, promoting greater financial inclusion nationwide. LANDBANK noted that customers can enjoy the benefit through its mobile app, internet banking portal, and over-the-counter channels starting the effective date.
metrosundaily
