CIMB BankNews

CIMB offers free transfers with InstaPay and PESONet

Digital banking services provider CIMB Bank Philippines now offers InstaPay on the CIMB Bank PH app. Users can now easily transfer as much as P50,000 to and from their CIMB savings accounts with no delays and at no cost.

With this, CIMB customers can now enjoy the following features:

  • Free transfers. CIMB does not charge any fees for all InstaPay transfers.
  • Real-time and available 24/7. Through InstaPay, CIMB customers can easily transfer and receive funds using their CIMB accounts at any time of the day. There are no cut-offs and wait-times, but both senders and receivers must also be participating InstaPay institutions for users to enjoy instant transfers.
  • Send and receive from various banks and e-wallets. With InstaPay, CIMB customers can send or receive funds from over 60 participating banks and e-wallets.
  • Convenient and hassle-free. There is no need to physically go to a bank to perform the transfer. InstaPay transfers can be made entirely from mobile phones using the CIMB Bank PH app.

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“Committed to supporting the Bangko Sentral ng Pilipinas’ drive to facilitate greater adoption of digital transactions, we are excited to finally have InstaPay on our platform,” said Vijay Manoharan, CEO, CIMB Bank Philippines. “Our 6 million CIMB customers can now use it to transfer funds for free and in real-time, giving them more control over their finances.”

With the addition of InstaPay, CIMB customers can opt to transfer funds on the CIMB Bank PH using either InstaPay or PESONet. Transfers to participating banks and involving amounts up to P50,000 may be done through InstaPay. On the other hand, transfers involving amounts exceeding P50,000 or banks who are not participating InstaPay institutions can be done via PESONet for free as well.