Philippine central bank welcomes banks' move to cut fund transfer fees
The Bangko Sentral ng Pilipinas has praised local banks for reducing or eliminating fees on digital interbank fund transfers. This initiative aims to increase the accessibility and affordability of digital financial services for Filipinos.
Why it matters
Lowering transaction costs is a key driver for the growth of the digital economy and financial inclusion in the Philippines.
Published: 9 minutes ago Jonas Leupe via Unsplash. Philippine central bank welcomes banks' move to cut fund transfer fees An earlier circular directed banks to bring interbank transfer fees to zero.
The article reports on a regulatory development and industry response in a straightforward, objective manner.
Get smarter about the news
Sign up free for a feed built around what you actually care about, Dive Deeper research on any story, and the full text of every article.
Create free accountAlready have an account? Sign in