Forty-eight BSP-supervised institutions had waived both InstaPay and PESONet fees as of July 31, 2026, according to a central bank tally reported by BusinessWorld on September 21, 2026. Deputy Governor Mamerto Tangonan said some institutions that cut their fees saw digital transactions rise by as much as 50%.
| Institutions with no InstaPay or PESONet fee, as of July 31, 2026 | Count |
|---|---|
| Universal and commercial banks | 18 |
| Thrift banks | 9 |
| Rural banks | 11 |
| Digital banks | 5 |
| Electronic money issuers (e-wallets) | 5 |
| Total | 48 |
The ₱10 wallet fee
The two most-used e-wallets are not in that count. The BSP’s Summary of Transfer Fees lists GCash’s InstaPay fee at ₱10 since July 4, 2026 and Maya’s at ₱10 since July 6, 2026, each cut from ₱15. Tangonan said a ₱10 fee is “not automatically allowed or prohibited”, and the BSP told BusinessWorld that institutions “remain free to set their own fees” where those fees rest on a documented cost analysis. No BSP decision on the two wallets’ fee structures has been published.
RCBC told BusinessWorld that its InstaPay volume rose 10% within 24 hours of removing fees. That figure is the bank’s own.
Per-institution charges on both rails are in our transfer fees table, and GCash’s own schedule is on GCash fees.