BSP Launched InstaPay

BSP Launched InstaPay

What is InstaPay?

InstaPay is an electronic fund transfer (EFT) service that allows customers to transfer PHP funds almost
instantly between accounts of participating BSP-supervised banks and non-bank e-money issuers in the
Philippines. The service is available 24×7, all year round.

Who can use InstaPay?
Customers of InstaPay participating institutions with savings, current, or e-money accounts (with or
without ATM/debit cards) can use InstaPay for sending and/or receiving fund transfers. Users of
Instapay may be individuals, businesses, or government agencies.

Why would one use InstaPay?
Customers may choose to use InstaPay when they want to do the following —
• Transfer funds electronically; and
• Make the funds to be available to their recipient immediately.

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