Malacañang expressed hope that more banks will make digital fund transfers free of charge after LandBank and two private banks took the step.
Palace press officer Claire Castro said LandBank reduced transfer fees and eliminated convenience fees for certain person-to-government transactions in line with President Marcos’ directive.
“We wish all banks will emulate what LandBank started so it will be helpful to our countrymen,” Castro said at a press briefing.
Aside from LandBank, the Bank of the Philippine Islands and Rizal Commercial Banking Corp. have also waived fund transfer charges.
The Palace’s appeal comes as the Bangko Sentral ng Pilipinas moves to lower the cost of digital financial transactions to encourage wider adoption and promote financial inclusion.
