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LandBank extends waiver of interbank fees until June 30
By JON VIKTOR D. CABUENAS, GMA NewsThe Land Bank of the Philippines on Wednesday announced a three-month extension of the waiver of fees for online fund transfers of retail clients, which was earlier set to lapse on March 31.
In an advisory, LandBank said interbank fees will be waived until June 30, 2021. This covers online fund transfers made through the lender's online banking channels via InstaPay and PESONet.
"LandBank remains committed in balancing service delivery and safety, by providing secure and convenient digital banking solutions while promoting health protection," LandBank President and Chief Executive Officer Cecilia Borromeo said in the advisory.
"We continue to urge our clients to utilize our online banking platforms and make cashless transactions, especially at this time when COVID-19 cases are rising," she added.
The Bangko Sentral ng Pilipinas (BSP) launched InstaPay
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Meanwhile, PESONet was launched in 2017, enabling the government, businesses, and individuals to initiate electronic fund transfers and recurring payments in financial institutions supervised by the central bank within the same banking day.
NCR Plus -- Metro Manila, Cavite, Laguna, Rizal, and Bulacan -- has been under ECQ from midnight March 29 and will last until Sunday, April 4, 2021. No guidance has been given what follows.
Prior to the announcement of the ECQ, the government banned the non-essential entry and exit into the NCR Plus bubble during the same period. -MDM, GMA News