BDO says lowers InstaPay fee with launch of new website | ABS-CBN
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BDO says lowers InstaPay fee with launch of new website
BDO says lowers InstaPay fee with launch of new website
Arthur Fuentes,
ABS-CBN News
Published Feb 24, 2025 04:23 PM PHT
MANILA -- BDO Unibank said it has reduced the InstaPay fee it charges for fund transfers with the launch of its new website.
MANILA -- BDO Unibank said it has reduced the InstaPay fee it charges for fund transfers with the launch of its new website.
The Philippines' largest bank said lowering the Instapay fee to P10 per transaction was just one of several enhancements it did to its online services with the launch of its new online platform. PESONet transfer limits have also been raised, while BDO to BDO transfers are free, the bank said.
The Philippines' largest bank said lowering the Instapay fee to P10 per transaction was just one of several enhancements it did to its online services with the launch of its new online platform. PESONet transfer limits have also been raised, while BDO to BDO transfers are free, the bank said.
Instapay fees vary from bank to bank, with some banks opting to keep the service free for some transactions, while others charge fees ranging from P8 to P25 per transaction.
Instapay fees vary from bank to bank, with some banks opting to keep the service free for some transactions, while others charge fees ranging from P8 to P25 per transaction.
BDO said the new platform also has enhanced security such as strengthened login protection through SMS One-Time Password (OTP) or push confirmation via the BDO Online app.
BDO said the new platform also has enhanced security such as strengthened login protection through SMS One-Time Password (OTP) or push confirmation via the BDO Online app.
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The Sy-led lender also touted the platform's "Advanced Card Management" which allows customers to lock or unlock their cards and set daily transaction limits for added security and control.
The Sy-led lender also touted the platform's "Advanced Card Management" which allows customers to lock or unlock their cards and set daily transaction limits for added security and control.
Roy Villareal, BDO's Digital Banking Head, said the company recognizes that customers have different banking needs at different times of the day.
Roy Villareal, BDO's Digital Banking Head, said the company recognizes that customers have different banking needs at different times of the day.
"With this in mind, our goal is to provide a suite of complementary banking channels that allow customers to transact conveniently and securely, whether through our online platform or our extensive branch network. The new BDO Online website is designed to enhance security, accessibility, and overall user experience," Villareal said.
"With this in mind, our goal is to provide a suite of complementary banking channels that allow customers to transact conveniently and securely, whether through our online platform or our extensive branch network. The new BDO Online website is designed to enhance security, accessibility, and overall user experience," Villareal said.
BDO said its new website also has a modernized interface and enhanced functionality, designed to complement the bank's existing digital banking ecosystem, including the BDO Online and BDO Pay mobile apps.
BDO said its new website also has a modernized interface and enhanced functionality, designed to complement the bank's existing digital banking ecosystem, including the BDO Online and BDO Pay mobile apps.
"The new BDO Online website is now live at www.onlinebanking.bdo.com.ph, where customers can log in using their existing online banking credentials. Detailed login assistance is also available on the website," the company said.
"The new BDO Online website is now live at www.onlinebanking.bdo.com.ph, where customers can log in using their existing online banking credentials. Detailed login assistance is also available on the website," the company said.
BDO booked a net income of P82 billion in 2024, up by 12 percent annually from P73.4 billion in 2023. The bank said loans were up 13 percent, with growth across all segments and ahead of the industry. Its bad loan ratio also went down to 1.83 percent.
BDO booked a net income of P82 billion in 2024, up by 12 percent annually from P73.4 billion in 2023. The bank said loans were up 13 percent, with growth across all segments and ahead of the industry. Its bad loan ratio also went down to 1.83 percent.
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