UnionBank and RCBC offer the free bank transfer via Instapay. InstaPay is an electronic fund transfer (EFT) service that allows customers to transfer Philippine peso funds almost instantly between accounts of participating BSP-regulated banks and non-bank e-money issuers in the Philippines.
ChinaBank allows free money transfers for both Instapay and PesoNet. PESONet is an interbank funds transfer service under the National Retail Payment System (NRPS) of the Bangko Sentral ng Pilipinas (BSP) which allows clients to electronically transfer high-value funds between their BPI account and other accounts in participating banks and financial institutions in the Philippines.
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