The lender said customers will be able to transfer money to other banks without paying transaction fees through its digital banking platform.
“At EastWest, we want banking to feel easier and more useful in our clients’ everyday lives,” EastWest CEO Jerry G. Ngo said in a statement on Thursday.
“Through EasyWay and Komo, we are giving individual clients more ways to move money safely and more conveniently," he added.
The announcement comes days after several major lenders unveiled similar moves, underscoring how quickly free fund transfers are becoming a standard feature rather than a premium benefit.
Bank of the Philippine Islands, BDO Unibank, Metropolitan Bank & Trust Co., Union Bank of the Philippines, Security Bank, Philippine National Bank and the Land Bank of the Philippines have all rolled out free transfer offerings in recent weeks.
The wave of fee cuts follows a Bangko Sentral ng Pilipinas circular encouraging banks to adopt reasonable and market-based pricing for person-to-person electronic fund transfers.
—Edited by Miguel R. Camus
