With more and more people adapting to digital transactions, universal bank EastWest is extending its free InstaPay service via EastWest Online and Mobile until July 31, 2021.
With InstaPay, customers can transfer up to P50,000 per transaction, which will be credited instantly to the recipient’s account in any local bank.
EastWest’s PESONet service allows customers to send large amounts of up to P2,000,000, to be credited within the same banking day (subject to cut-off) in just a single transfer. The transfer limit of up to P2,000,000 stands as one of the highest transfer limits among banks in the Philippines.
Earlier this year, banks increased withdrawal fees via ATMs. Initially, Bangko Sentral ng Pilipinas-regulated payment channels InstaPay and PESONet offered the services without charges.
“Our customers’ convenience and safety are always at the core of every service we provide, especially during these challenging times,” Ivy Uy, SVP, EastWest Regional Banking Group. “We hope that our extended free InstaPay and PESONet services will go a long way in helping our customers send money to their loved ones or beneficiaries hassle-free.”