2025 Philippines Digital Bank transfer cash to Local Bank: Fees
Here’s the updated table that includes a column for how much the receiving bank charges as a fee for transfers:
| Digital Bank | Maximum Transfer Amount to Other Banks | Annual Interest Rate | Free Transfer to Local Bank Fees? | Does Receiving Bank Charge a Fee? | How Much is the Receiving Bank’s Fee? |
|---|---|---|---|---|---|
| Maya Bank | Php 50,000 | 6.00% | Free to Maya Wallet and other banks via PESONet and InstaPay. | Yes | Php 8 to Php 75 (InstaPay) |
| Overseas Filipino Bank | Php 50,000 | 4.00% | Free transfers to Land Bank accounts. | No | None |
| UnionDigital | Php 50,000 | 4.00% | Free transfers to UnionBank accounts and other banks via InstaPay. | Yes | Php 8 to Php 75 (InstaPay) |
| CIMB’s GSave on GCash | Php 10,000 | 3.00% | Free transfers to GCash and other banks via PESONet and InstaPay. | Yes | Php 8 to Php 600 (PESONet) FREE According to CIMB |
| GoTyme | Php 20,000 | 4.00% | Free transfers to GoTyme accounts; check specific terms for other banks. | Yes | Php 8 to Php 75 (InstaPay) |
| Tonik | Php 10,000 | 6.00% | Free transfers via InstaPay; check specific terms for other banks. | Yes | Php 8 to Php 75 (InstaPay) |
| RCBC’s Diskartech | Php 20,000 | 5.00% | Free transfers to RCBC accounts; fees may apply for other banks. | Yes | Varies by bank |
| BPI’s BanKo | Php 10,000 | 3.00% | Free transfers to BPI accounts; fees may apply for other banks via InstaPay or PESONet. | Yes | Varies by bank |
| Komo by Eastwest | Php 20,000 | 3.00% | Free transfers to EastWest accounts; fees may apply for other banks via InstaPay or PESONet. | Yes | Varies by bank |
| Netbank | Php 10,000 | 4.00% | Free transfers via PESONet; fees may apply for InstaPay transactions with other banks. | Yes | Varies by bank |
| SeaBank | Php 20,000 | 3.50% | Free transfers to Shopee partner banks; check specific terms for others via PESONet or InstaPay. | Yes | Varies by bank |
| OwnBank | Php 10,000 | 4.00% | Free transfers via PESONet; fees may apply for InstaPay transactions with other banks. | Yes | Varies by bank |
Summary
This table provides an overview of various digital banks in the Philippines as of January 22, 2025, including the maximum transfer amount to other banks, annual interest rates, information about free transfer fees to local banks, whether the receiving bank charges a fee for incoming transfers, and how much that fee typically is.
Note
- The fees listed are based on current information regarding transfer costs through services like InstaPay and PESONet.
- Always verify current rates and policies directly with the banks as they can change frequently.
Citations:
[1] https://business.inquirer.net/500562/bsp-eyes-shift-from-digital-transaction-fees-to-subscription
[2] https://www.philstar.com/business/2025/01/11/2413279/bsp-considering-subscription-fee-digital-transactions
[3] https://business.inquirer.net/482984/zero-fees-for-electronic-fund-transfers-eyed
[4] https://www.bsp.gov.ph/PaymentAndSettlement/Fees.pdf
[5] https://fintechnews.ph/65124/digital-banking-news-philippines/philippines-digital-bank-licenses/
[6] https://bitpinas.com/fintech/digital-banks-high-interest-rates-philippines/
[7] https://fintechnews.ph/65153/financial-inclusion/can-the-new-added-digital-banks-provide-value-to-the-philippines/
[8] https://www.reddit.com/r/phinvest/comments/1hqauaw/comparing_interest_between_trad_banks_and_digital/
