InstaPay transfer fee has been pushed back. Transfers between GrabPay e-wallets continue to be free of charge, but starting 8 August 2022, a USD 0.27 fee will be charged on InstaPay transactions made from GrabPay to other banks and e-wallets.
Grab earlier said transfers to other GrabPay wallets are free of charge. Most banks, e-wallets, and money issuers are now imposing fees in InstaPay and PESONet bank transfers, as per the press release.
The central bank of Philippines issued a moratorium allowing banks and e-money issuers to waive or reduce current transfer fees or reimpose fees again at the level prior to the waiver of fees during the pandemic.
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