THE Land Bank of the Philippines announced waiving fees for online fund transfers to other banks via InstaPay and PESONet for transactions worth P1,000 and below effective November 1.
In a statement, the state-run lender said that for interbank fund transfers amounting to more than P1,000, customers would be charged a fixed transaction fee of P15.
The lender said the waiving of transfer fees its “holiday gift” to its customers. LandBank said it waived transfer fees for the first three online fund transfers/transactions in a day via the LandBank’s mobile banking app MBA), and its online retail banking channel.
Fund transfers from and to LandBank and Overseas Filipino Bank accounts, regardless of the amount, remain free of charge, it added.
