The move adds PNB to a growing list of banks lowering or eliminating digital transfer fees as competition for online banking customers intensifies.
Among the lenders that have rolled out similar initiatives are Bank of the Philippine Islands, Union Bank of The Philippines, Rizal Commercial Banking Corp. through selected free transfer offers, and the Land Bank of the Philippines.
The broader shift also 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
