Landbank scraps online fund transfer fees for retail clients
Land Bank of the Philippines has eliminated fund transfer fees for retail clients using its mobile app and online portal for InstaPay and PESONet transactions. This initiative, which also covers Overseas Filipino Bank clients, aims to reduce financial burdens on families and small businesses while promoting a cost-free digital banking ecosystem.
Why it matters
The removal of transaction fees lowers the barrier to entry for digital financial services, potentially increasing financial inclusion and disposable income for millions of Filipinos, including overseas workers.
State-run Land Bank of the Philippines (Landbank) has waived fund transfer fees for digital transactions made through its online channels, joining a growing number of major banks and e-wallet providers that have eliminated or lowered transfer charges.
The article reports on a government policy change using neutral, factual language and includes quotes from officials without editorializing the impact.
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