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Interbank Fund Transfer (Instapay, PesoNet, etc.)

Hi guys! Napansin ko ang Instapay at Pesonet sa mga Depositors thread pero mahirap magcompare kasi kalat-kalat yung info kaya naisipan kong gumawa ng thread  =)
Kung stable naman kasi yung feature na to, close ko na yung ibang kong mga account na binuksan ko pang fund transfer lang.
Sayang din maintaining balance at pamasahe papuntang branch.
Eto yung mga alam ko at nakita ko sa ibang thread (pakitama na lang po kung mali):

Bancnet member banks: P25 fee 
BDO: via Instapay, P100 fee, transfer up to P50,000/day
Chinabank Savings: via Instapay, P10 fee
AUB: via Instapay, P10 fee
Robinsons Bank: via Pesonet, P10 fee
Eastwest: via Pesonet, P0 fee

Smooth ba ang mga interbank fund transfer (IBFT) transactions at kamusta naman ang availability?
Pa-share ng experience =)



 
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Comments

  • piquanteyepiquanteye Member ✭✭✭
    20 pesos daw sa RBank via PesoNet.


    Unionbank may InstaPay hinde ko alam kung magkano.  Pero mabilis daw kumilos Unionbank.  Hehe.
  • therightonetherightone Member ✭✭✭
    So what exactly is the difference between PesoNet and Instapay? 
    Both were initiated by the BSP... I just don't understand why there has to be 2 systems if BSP naman pala parehas ang gumawa. 

    Eitherway, this is great news though... at least one less reason to go to the bank/branch.
  • markapinyamarkapinya Member ✭✭✭
    edited August 10
    PSBank: via Instapay and Pesonet, P10
    (I think in the long run, Pesonet will be obsolete. Pero since a lot of banks cannot provide instant transfer right away (since it involves more complex IT work), at least meron pa ring way to transfer - "slow but less IT work" for other banks).

    Maganda implementation ng PSBank. If you select a bank like Landbank, lumalabas ang option na Instapay and Pesonet. Kung BPI naman, Pesonet lang. 
  • piquanteyepiquanteye Member ✭✭✭
    edited August 10
    https://www.metrobank.com.ph/personal_product.asp

    Metrobank may InstaPay na. Php 25




    Are there minimum or maximum transaction limits when using InstaPay? 
    Clients can make multiple transactions in a day totalling P50,000. 

    Are there charges for using InstaPay? 
    Recipient - None. They will get the full amount transferred
    Sender - A PHP 25.00 fee will be charged per request
  • piquanteyepiquanteye Member ✭✭✭
    edited August 10
    ang PESO NET kase pwede kang magpadala ng amount above Php50k. So kung may business ka na magpadala ng  pera amounting $81M sa RCBC pwede yun lang medyo matagal dumating kasi kailangan icheck pa nila kung okay ba yung pera na papadala base sa AMLA, FATCA and ETC.

    ang InstaPay is quickie lang kasi limitado sa Php50K per transaction per day.
  • therightonetherightone Member ✭✭✭
    ang PESO NET kase pwede kang magpadala ng amount above Php50k. So kung may business ka na magpadala ng  pera amounting $81M sa RCBC pwede yun lang medyo matagal dumating kasi kailangan icheck pa nila kung okay ba yung pera na papadala base sa AMLA, FATCA and ETC.

    ang InstaPay is quickie lang kasi limitado sa Php50K per transaction per day.
    Ayun malinaw din :)

    Ito pala ang full list ng institutions na may PesoNET, mostly OTC ang transactions konti lang ang online.
    https://docs.google.com/spreadsheets/d/1QzFJfxWnq8ZyOPgDMozt4vVGDRISdr-vDjaxWaPNgbI/edit#gid=0

    Got it from here: https://www.pesonet.info


  • piquanteyepiquanteye Member ✭✭✭
    edited August 10

    If my interbank funds transfer is not successful, how will the money be refunded to me? What’s the timeline? 
    If the beneficiary bank is unable to credit the transaction to your beneficiary (i.e. wrong or invalid account number), the funds should be returned to the sender on the next banking day, service fees may apply.

    I have transferred money to the wrong account. How do I attempt to recover the funds? 
    As long as a valid account number is provided, the credit to the beneficiary’s account is considered final.  We encourage you to ensure the correct account number is indicated in your PESONet transfer.


    However, in the event that you provided the wrong account number, a request for recovery will be on a best effort basis depending on the beneficiary institution’s internal policies on recovery. These may take into consideration: (1) availability of credited funds; (2) beneficiary account holder’s consent to be debited; and (3) turnaround time. Returned funds may be subject to servicing fees for the recovery.

  • piquanteyepiquanteye Member ✭✭✭
    edited August 10
  • piquanteyepiquanteye Member ✭✭✭
    Instapay and Peso Net fees above.
  • piquanteyepiquanteye Member ✭✭✭
    Metrobank is a good addition to InstaPay.  BPI ikaw na lang hinahantay..
  • gibsonfangibsonfan Member ✭✭✭✭
    PSBank: via Instapay and Pesonet, P10
    (I think in the long run, Pesonet will be obsolete. Pero since a lot of banks cannot provide instant transfer right away (since it involves more complex IT work), at least meron pa ring way to transfer - "slow but less IT work" for other banks).

    Maganda implementation ng PSBank. If you select a bank like Landbank, lumalabas ang option na Instapay and Pesonet. Kung BPI naman, Pesonet lang. 
    This is all done online ano? 
  • markapinyamarkapinya Member ✭✭✭
    edited August 11
    ^Yes. I did it through PSBank mobile app. Transferred to BDO and Landbank. Both were instantaneous :)

    I also tried BDO 'Instapay' a few days ago. I find the P100 too steep, pero just wanted  to see kung Instapay nga siya.....oh well It was not really instant :(  It took until end of day to get to the recipient and that was because it was before cut off. Kung past cut-off, the next day pa siguro.

    I'm thinking of using my PSBank actively again, hahaha. Kasi with bank fees for inter-branch or inter-region that other banks are imposing. Eh di sa PSBank ko na lang ideposit, tapos i-instapay ko na lang, eh di P10 pesos lang instead of P50 to P100 ang fees :)
  • sagoatgulamansagoatgulaman Member ✭✭
    ^Yes. I did it through PSBank mobile app. Transferred to BDO and Landbank. Both were instantaneous :)

    I also tried BDO 'Instapay' a few days ago. I find the P100 too steep, pero just wanted  to see kung Instapay nga siya.....oh well It was not really instant :(  It took until end of day to get to the recipient and that was because it was before cut off. Kung past cut-off, the next day pa siguro.

    I'm thinking of using my PSBank actively again, hahaha. Kasi with bank fees for inter-branch or inter-region that other banks are imposing. Eh di sa PSBank ko na lang ideposit, tapos i-instapay ko na lang, eh di P10 pesos lang instead of P50 to P100 ang fees :)

    wow grabe ang tumataginting na 100 pesos fee ni BDO. tapos di pa instant :(
    thanks sa input guys. sana dumami pa ang banks na may affordable fund transfer services. 
    PNB pinakamalapit samin sa probinsya pero di ko makita yung fees nila. makapaginquire nga pag madaanan...
  • therightonetherightone Member ✭✭✭
    ^Yes. I did it through PSBank mobile app. Transferred to BDO and Landbank. Both were instantaneous :)

    I also tried BDO 'Instapay' a few days ago. I find the P100 too steep, pero just wanted  to see kung Instapay nga siya.....oh well It was not really instant :(  It took until end of day to get to the recipient and that was because it was before cut off. Kung past cut-off, the next day pa siguro.

    I'm thinking of using my PSBank actively again, hahaha. Kasi with bank fees for inter-branch or inter-region that other banks are imposing. Eh di sa PSBank ko na lang ideposit, tapos i-instapay ko na lang, eh di P10 pesos lang instead of P50 to P100 ang fees :)

    wow grabe ang tumataginting na 100 pesos fee ni BDO. tapos di pa instant :(
    thanks sa input guys. sana dumami pa ang banks na may affordable fund transfer services. 
    PNB pinakamalapit samin sa probinsya pero di ko makita yung fees nila. makapaginquire nga pag madaanan...
    Palagi ko gamit ang kay BDO (probably 3-4x a month), ang reason ko naman is if pumunta pa ako sa branch more than P100 din naman gagastusin ko so might as well na gamitin nalang siya. 

    Hindi nga real time, same day if before cutoff and next day if after cutoff.
  • markapinyamarkapinya Member ✭✭✭
    At least sa BDO, meron pa ring facility to do your own transfer. Me choice pa rin. Tanging si BPI na lang talaga ang waley among the majors, hahaha
  • therightonetherightone Member ✭✭✭
    At least sa BDO, meron pa ring facility to do your own transfer. Me choice pa rin. Tanging si BPI na lang talaga ang waley among the majors, hahaha
    Si SECB wala din pa, at least online.
  • sagoatgulamansagoatgulaman Member ✭✭
    At least sa BDO, meron pa ring facility to do your own transfer. Me choice pa rin. Tanging si BPI na lang talaga ang waley among the majors, hahaha
    dapat na talaga magimplement si BPI kahit receiving lang kung itutuloy nila yung interregion deposit fee nila. sa ngayon mukhang mas mura ang fund tranfer fees (~25) kesa interregion deposit fees (~50)
  • gibsonfangibsonfan Member ✭✭✭✭
    At least sa BDO, meron pa ring facility to do your own transfer. Me choice pa rin. Tanging si BPI na lang talaga ang waley among the majors, hahaha
    dapat na talaga magimplement si BPI kahit receiving lang kung itutuloy nila yung interregion deposit fee nila. sa ngayon mukhang mas mura ang fund tranfer fees (~25) kesa interregion deposit fees (~50)
    Kaso may pagka backwards pa rin sila sa BPI sadly. Dapat nga kahit receiving ay ok lang. 

    Simplest kay BPI transfer ay Gcash. Cash in ka sa 7-11 or with any bank na debit atm (for free pareho at instant) tapos transfer ka sa bpi account mo. 20 pesos ata yung fee to withdraw to BPI. Comes out mura pa rin, medyo round about lang. Ayun nga lang, 100k monthly cap siya
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