GrabPay postpones InstaPay transfer fees

Tuesday 19 July 2022 15:15 CET | News

Philippines-based superapp Grab has said that GrabPay USD 0.27 InstaPay transfer fee will be implemented on 8 August 2022.

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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Keywords: money transfer, instant payments, digital wallet, e-money, e-wallet
Categories: Payments & Commerce
Companies: Grab
Countries: Philippines
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Payments & Commerce


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