PESONET AND INSTAPAY
You can now transfer funds from your savings account to any other bank account through PESONet and InstaPay. Transact via Internet Banking, ATM, and Mobile Banking!
PESONet and InstaPay are the latest electronic funds transfer service that enables savings account holders to transfer funds in Philippine Peso to another account holder or multiple recipient accounts of other participating banks, e-money issuers, or mobile money operators in the Philippines.
InstaPay allows fund transfer of up to Php50,000 per transaction in real-time. While PESONet has no maximum amount limit and transactions are posted after the end of business day.
PESONet and InstaPay are the country’s first Automated Clearing House (ACH) under the National Retail Payment System (NRPS), the Bangko Sentral ng Pilipinas’ (BSP) landmark policy whose objective is to increase e-payment transactions to 20 percent by 2020 for more inclusive economic growth and financial inclusion.
For more information, please visit:
https://www.bsp.gov.ph/SitePages/PaymentsAndSettlements/PaymentsAndSettlements.aspx#NRPS
https://www.philpayments.org.ph/instapay-1