PESONet is an account to account fund transfer service that supports bulk, recurring, non-time sensitive payment transactions; while InstaPay is a new electronic fund transfer service that enables participants to provide real-time, low-value payment transactions, allowing customers and businesses to transfer between accounts, with real-time confirmation of credit to payee.
Below are the main features of InstaPay and PESONet:
|Mobile / Online/BOB||Branch||Mobile / Online||Branch|
|No. of Fund Transfer Transactions per Day||No limit||No limit||No limit||No limit|
|Limit per Account per Day||PhP200,000||No limit||PhP50,000||No limit|
|Limit per Transaction||PhP200,000||PhP500,000||PhP50,000||PhP50,000|
|Availability of Facility||24 / 7||Banking days||24 / 7||Banking days|
|Processing / Availability of Funds or crediting of funds to recipient’s account||
Banking days up to 2:30 pm - same day processing
Up to 2:30 pm - same day processing
Beyond 2:30 pm- next banking day processing
|Real time||Real time|
(starting July 2, 2021)
Unfortunately, these fund transfer services are only available for fund transfers between Philippine Peso accounts of participating banks and non-bank e-money issuers within the Philippines.
For all PESONet / InstaPay transactions, as long as a valid account number is provided, is considered final and can no longer be cancelled. Hence, we encourage you to ensure the accuracy of the account numbers that you indicate in all PESONet and InstaPay transactions.
For additional ease and convenience, though not necessary, enrollment is encouraged for recurring fund transfers involving the same account.
For inquiries or concerns on your InstaPay or PESONet transaction, you may call our 24/7 Customer Experience Hotline at (632) 8845-8888, e-mail us at [email protected] or visit any PSBank Branch. You may also reach us via PSBank [email protected]
* Deposits are insured by PDIC up to PhP500,000 per depositor.