RCBC Eliminates InstaPay Transfer Fees on Pulz and DiskarTech Starting July 4

 

RCBC Rolls Out Free InstaPay Transfers Across Pulz and DiskarTech

Rizal Commercial Banking Corp. (RCBC) has removed InstaPay transfer fees for customers using its Pulz online banking platform and DiskarTech digital banking app, with the new benefit taking effect on Saturday, July 4. The initiative positions the bank among the first financial institutions to permanently reduce the cost of digital fund transfers following updated guidance from the Bangko Sentral ng Pilipinas (BSP).

The fee waiver comes with different terms for each platform. Pulz users can make up to 30 free InstaPay transfers every month, provided each transaction is at least P100. For DiskarTech account holders, the offer is more extensive, allowing unlimited InstaPay transfers at no charge for transactions worth up to P50,000 each.

The decision reflects a broader industry shift toward making electronic banking services more affordable. As more Filipinos rely on digital payments for everyday transactions, transfer fees have become an additional expense that can accumulate over time. Removing these charges allows customers to move money between banks more efficiently without worrying about recurring transaction costs.

InstaPay, introduced by the Bangko Sentral ng Pilipinas in 2018, serves as the country's real-time electronic fund transfer network. It enables users to send money almost instantly between participating financial institutions through a clear-before-settle system. The platform has become a key component of the Philippines' digital payments ecosystem, supporting everything from personal fund transfers to business transactions.

RCBC is the second major bank to implement zero-fee InstaPay transfers this month. Earlier, on July 1, the Bank of the Philippine Islands (BPI) permanently removed fees for both InstaPay and PESONet interbank transfers, signaling growing momentum among banks to improve the affordability of digital financial services.

Both RCBC and BPI said their updated pricing policies align with BSP Circular No. 1238, series of 2026. The circular encourages banks and other financial institutions to adopt reasonable and fair pricing for electronic fund transfer services, reinforcing the central bank's objective of making digital banking more accessible while supporting wider financial inclusion across the country.