Insider Spotlight
Under the new policy, RCBC Pulz users can make up to 30 free InstaPay transfers per month for transactions worth at least P100. A P10 fee will apply once the monthly limit is reached or for transfers below the minimum amount.
The big picture
RCBC DiskarTech users will continue to enjoy free InstaPay transfers with no minimum transaction amount and no monthly transaction cap, reinforcing the bank's financial inclusion strategy.
The initiative is part of RCBC's broader effort to make digital banking more accessible while supporting the Bangko Sentral ng Pilipinas' push to expand digital payments under BSP Circular No. 1238, which encourages fair, transparent, and market-based pricing for person-to-person electronic fund transfers.
"At RCBC, we believe the best digital innovations are those that make banking simpler, more accessible, and more affordable for every Filipino. Offering free InstaPay transfers through both RCBC Pulz and DiskarTech reflect our commitment to delivering practical solutions that create everyday value for our customers while advancing the country's digital transformation," RCBC president and CEO Reggie Cariaso said in a statement.
Why it matters
Cariaso said removing transfer fees helps reduce barriers to digital banking adoption and encourages stronger digital financial habits among Filipinos.
"Digital banking succeeds when it delivers real value to real customers. Eliminating transfer fees is one way we can remove barriers to adoption while helping Filipinos build stronger digital financial habits," Cariaso said.
The announcement follows BPI's decision to permanently remove InstaPay and PESONet transfer fees across its digital platforms starting July 1, a development first reported by InsiderPH last week.
Together, the moves signal growing competition among major banks to lower digital banking costs as the BSP pushes for wider adoption of electronic payments.
Beyond fund transfers, RCBC Pulz offers services including foreign exchange in eight major currencies, unit investment trust funds, credit card management, loan applications, QR Ph payments, and a U.S. virtual account for Filipinos without requiring a U.S. address or residency.
DiskarTech provides digital banking services such as savings, payments, fund transfers, bills payment, mobile load, and the MySSS Card developed with the Social Security System. —-Princess Daisy C. Ominga | Ed:Corrie S. Narisma
