Which Bank Has the Best Interbank Fees?

Here’s a breakdown of the interbank fees of the Philippines' 10 biggest banks.

Mobile and ATM banking have made handling finances infinitely more convenient, but it’s also come at a price. The smallest task, from checking your bank account balance to transferring money to another account, can cost you. For Filipinos who like to save every peso they can, these small charges can build up after a while, especially when everyone has to go through pesky interbank fees.

Here’s a breakdown of the interbank fees of the Philippines 10 biggest banks, ranked in order of the banks with the lowest interbank fees.


Note: Interbank transfer fees may vary depending on the transaction channel (InstaPay, PesoNet, ATM, etc.). 

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Clearly, UnionBank has the overall lowest and most convenient fees despite being the smallest bank listed in the table. Meanwhile, the most popular banks, BDO and BPI have some of the highest fees, particularly when it comes to transferring funds.

However, the leading financial institutions in terms of low fees aren’t in the top 10 banks of the Philippines. These are cashless payment systems like GCash and PayMaya, which both offer free transfer services, as well as ING, a digital bank similar to UnionBank that offers free transfer services as well.

How does your bank fare in terms of interbank fees? 

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Anri Ichimura
Staff Writer, Esquire Philippines
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