GCash, Maya Lower InstaPay Transfer Fees, Making Digital Payments More Affordable

Filipinos can now enjoy lower costs when sending money online after GCash and Maya announced reduced InstaPay transfer fees.

Starting July 4, GCash lowered its InstaPay fee from ₱15 to ₱10 per transaction for transfers to other banks and e-wallets. Users only need to update the GCash app to see the new fee reflected.

Maya will lower its InstaPay transfer fee from ₱15 to ₱10 starting July 6. Users can still send money to other Maya accounts for free. Maya also continues to offer free PESONet transfers, subject to standard processing schedules.

The fee reductions align with the Bangko Sentral ng Pilipinas’ push to make electronic fund transfers more affordable. BPI has already waived InstaPay and PESONet transfer fees permanently. Meanwhile, RCBC now offers free InstaPay transfers through selected digital platforms.

While users still pay ₱10 per InstaPay transaction, they will save more on frequent fund transfers between banks and e-wallets. The lower fees could also encourage more Filipinos to embrace digital payments and online banking.