MANILA, Philippines — Rizal Commercial Banking Corp. (RCBC) will waive InstaPay transfer fees for customers using its RCBC Pulz app starting July 4 as competition among banks to offer free fund transfers continues to intensify.
In a social media announcement on Friday, the Yuchengco-led lender said users could enjoy zero InstaPay fees for the first 30 transfers each month, provided each transaction is at least P100.
The fee waiver applies only to transfers made through the RCBC Pulz mobile banking app.
The move follows similar initiatives by other banks to eliminate online transfer charges as lenders compete with digital banks and e-wallets by expanding digital banking services and lowering transaction costs.