Dennis Gaviola

Article (news)

LANDBANK

Arthur Fuentes

ABS-CBN News

MANILA — The Land Bank of the Philippines announced Monday it will eliminate all online fund transfer fees starting July 7.The state-owned lender said zero-fee policy will apply to retail clients sending money via the LANDBANK Mobile Banking App and its iAccess platform for both InstaPay and PESONet transactions. The waiver also extends to clients of the Overseas Filipino Bank (OFBank) worldwide.The move expands on a June initiative that waived fees for person-to-government transactions via QRPh, creating a cost-free digital banking ecosystem, the bank said. Officials said the decision aims to provide relief to ordinary citizens and small businesses amid broader digital adoption.“Every peso saved on transfer fees is a peso that Filipino families can spend on their daily needs and that businesses can reinvest in growth. Landbank once again is leading by example and I hope all financial institutions will continue lowering or removing the cost of digital transactions for every Filipino,&quot; said Landbank Chairman and Finance Secretary Frederick D. Go.Landbank President and CEO Lynette Ortiz underscored the initiative’s direct impact on everyday financial needs.“By expanding our zero-fee digital framework from government payments to everyday retail transfers, we want to ensure that our banking services directly uplift our workers, small business owners, and overseas Filipinos,” Ortiz said.The initiative aligns with central bank guidelines and a directive from President Ferdinand Marcos Jr. to modernize and expand access to affordable financial services.The Bangko Sentral ng Pilipinas earlier ordered that charges for person-to-person e-payments across different banks and e-wallets are &quot;not materially different&quot; from intra-bank transfers, which are often free. Other major lenders like BPI and RCBC have already slashed or removed interbank transfer fees.

The bank said the zero-fee policy will apply to retail clients sending money via its mobile banking app and its iAccess platform for both InstaPay and PESONet transactions.

The bank said the zero-fee policy will apply to retail clients sending money via its mobile banking app and its iAccess platform for both InstaPay and PESONet transactions.

Landbank waives InstaPay, PESONet fees from July 7

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Landbank waives InstaPay, PESONet fees from July 7

Arthur Fuentes,

ABS-CBN News

Published July 06, 2026 06:47 PM PHT

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