Manila: Landbank has reduced its InstaPay transfer fee for person-to-person (P2P) transactions from PHP15 to PHP8, reinforcing its commitment to make digital financial services more affordable and accessible for Filipinos. Effective May 21, the lower fee applies to P2P fund transfers conducted via the Landbank Mobile Banking App and iAccess.

According to Philippines News Agency, the Bank is also offering one free InstaPay transfer per day for transactions amounting to PHP1,000 and below. The move aims to ease the cost of everyday financial transactions while encouraging broader adoption of secure, fast, and cashless payment channels. This initiative aligns with President Ferdinand R. Marcos Jr.'s directive to expand access to affordable financial services and accelerate digitalization to support inclusive economic growth.

Finance Secretary and Landbank Chair Frederick Go emphasized the significance of this reduction in digital transaction costs as a step towards integrating more Filipinos into the formal financial system. Go stated that making fund transfers more affordable empowers individuals, families, and small businesses to participate more actively in the digital economy.

Landbank President and CEO Lynette Ortiz highlighted the Bank's dedication to providing inclusive and cost-efficient digital solutions. Ortiz remarked that Landbank is committed to advancing financial inclusion by making digital banking more affordable and accessible, thereby enabling more Filipinos to use secure and convenient digital channels for their everyday financial transactions.

In addition to the reduction in P2P transfer fees, the Bank plans to introduce zero Landbank fees for person-to-government (P2G) payment services for select government transactions. This upcoming feature will facilitate easier, faster, and more affordable online payments for taxes, fees, and other public dues.

As the country's leading government bank, Landbank is at the forefront of promoting a more inclusive and cash-lite economy by delivering innovative, accessible, and cost-efficient digital financial solutions to the public.