This Bank is Waiving Fees for Small Transactions Made Using Its App
According to the bank, this applies to small transactions that are less than PHP 1,000. What’s more, it will be available for a limited time only.
After receiving numerous awards last year, including The Banker’s Bank of the Year in the Philippines and The Asian Banker’s Strongest Bank in the Philippines, Metrobank is proving why it is one of the multi-awarded banks in the country. How? Through the services that it provides to its clients.
In fact, Metrobank has recently announced that it is waiving fees for smaller transactions made using its banking app. What this means is that any transaction worth PHP 1,000 and below will not be subjected to a transfer fee. This, according to the bank, is an effort to make banking easier for their clients.
It can likewise be recalled that the Bangko Sentral ng Pilipinas (BSP) previously appealed to banks to remove fees for smaller transactions made online. Aside from Metrobank, the Bank of the Philippine Islands (BPI) has also waived fees for smaller transactions made through its app.
Metrobank Waives Fees for a Limited Time Only
There is, however, a catch.
Metrobank will waive transfer fees for smaller transactions for a limited time only. To be more specific, this will only be in effect until September 30, 2023. That being said, Metrobank app users should also take note that for transfer fees to be waived, they should be making the transaction via InstaPay.
How This is Helpful for the Public
Despite it being a limited-time-only perk, Metrobank’s move to waive fees for smaller transactions is very helpful for anyone who transfers small amounts of money. In particular, this is very beneficial to customers who would like to pay for purchases made from businesses that amount to less than PHP 1,000 per transaction.
Not having to worry about losing funds due to fees will encourage customers to make their payments via the app and can even entice them to make more transactions as they have no transfer fees to consider. What’s more, this move can also be very encouraging to those who want to give online banking a try as it shows how convenient and wallet-friendly going cashless can be.