Bangko Sentral extends InstaPay, PESONet caps

Dec 20, 2023 12:40 am

MONETARY authorities have ordered financial institutions not to raise fund transfer fees in a bid to promote digitalization.

The Bangko Sentral ng Pilipinas' (BSP) policymaking Monetary Board, in a resolution issued December 7, extended a 2021 central bank order that barred financial institutions using the InstaPay and PESONet automated clearing houses from hiking fund transfer fees.

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