Landbank has reduced its InstaPay transfer fee for person-to-person (P2P) transactions, from P15 to P8, to make digital financial services more affordable and accessible for Filipinos.
Effective May 21, the lower fee applies to P2P fund transfers conducted via the bank’s Mobile Banking App and iAccess. To further benefit customers, the bank is also offering one free InstaPay transfer per day for transactions amounting to P1,000 and below.
The move aims to ease the cost of everyday financial transactions while encouraging broader adoption of secure, fast, and cashless payment channels. The initiative aligns with President Ferdinand Marcos Jr.’s directive to expand access to affordable financial services and accelerate digitalization to support inclusive economic growth.
“Reducing digital transaction costs is a crucial step in bringing more Filipinos into the formal financial system,” Finance Secretary and Landbank chairperson Frederick Go said in a statement May 21. “By making fund transfers more affordable, the bank is helping empower individuals, families, and small businesses to participate more actively in the digital economy.”
President and CEO Lynette Ortiz also underscored the bank’s focus on delivering inclusive and cost-efficient digital solutions. “Landbank remains committed to advancing financial inclusion by making digital banking more affordable and accessible. By lowering transaction fees, we are enabling more Filipinos to use secure and convenient digital channels for their everyday financial transactions.”
It will also soon roll out zero fees for person-to-government (P2G) payment services for select government transactions, making it easier, faster, and more affordable for Filipinos to settle taxes, fees, and other public dues online.
As the country’s leading government bank, the bank continues to champion a more inclusive and cash-lite economy by delivering innovative, accessible, and cost-efficient digital financial solutions to the public. ||
