Metro Manila (CNN Philippines, October 31) — The Land Bank of the Philippines (LandBank) on Tuesday announced that online transfers to other banks through InstaPay and PESONet will be free for transactions amounting to ₱1,000 and below starting Nov. 1.
But the transaction fee of ₱15 remains for interbank transfers worth more than ₱1,000, it added.
“We are thrilled to announce that LandBank is waiving transaction fees for small-value online fund transfers to other banks,\” said LandBank president and CEO Lynette Ortiz in a statement.
\”This is our holiday gift to our valued customers, as we continue to promote safe and convenient digital transactions,” she also said.
Fund transfers between LandBank and overseas Filipino bank accounts, regardless of amount, remain free of charge.
The state-run bank also that the daily transaction limit for fund transfer and bills payments has been removed.
