Metrobank Is Waiving InstaPay Fees for Small Transactions Until June 2024

In the world of banking, where fees add up, Metrobank is surprising us by gifting everyone with waived InstaPay fees until June 30, 2024, for transactions under P1,000—aiming to lighten the burden of sending smaller sums through its new Metrobank app.

Of course, this movie, while appearing to cater to the everyday user, is not without its limitations. (We'll get back to that later.) The mechanics present two avenues for fee-free transactions: the Send Money feature and the QR Code feature. To have your InstaPay fees waived, you must use the new Metrobank app. It's available across major app platforms—Apple App Store, Google Play, and the Huawei AppGallery—ensuring no one misses out on fee-saving.

Read on below.

Via Send Money feature:

1. Open the NEW Metrobank App and tap Send Money icon in the bottom tab.
2. Enter details such as the source account, transfer amount, and recipient. Please note that P1,000 and below transactions are eligible to avail of the waived InstaPay fee.
3. Tap 'Immediate' button.
4. Enter Purpose. This is applicable for transfers to other banks as mandated by BSP.
5. Tap 'Next'.
6. Review details, then tap 'Confirm'. An OTP will be sent to your registered number. Do not share this to anyone.
7. Input the OTP, and you're done! You should see that P0.00 InstaPay fee is reflected in the transaction details page.

You'll also receive an SMS notification about your transaction.

Via QR Code feature:

1. On the NEW Metrobank App's dashboard, tap “QR” at the bottom navigation menu.
2. Scan or Upload the QR code of your recipient.
3. After scanning the QR code, fill in the required details for your fund transfer. P0.00 transfer fee should reflect in the confirmation page for transactions worth P1,000 and below.

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The waived fees apply exclusively to transactions under P1,000. Anything surpassing this amount goes back to regular fees. But, by providing a simplified process and incentivizing smaller transactions, Metrobank encourages a more accessible and cost-effective means for users to send money to friends, family, or even settle small bills.