RCBC Savings Bank

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What is Instapay?

January 17, 2019

    

Instapay is a real-time, low-value, electronic payment or credit transfer to other banks.




Instapay is also a part of Bangko Sentral ng Pilipinas’s (BSP) National Retail Payment System (NRPS) framework which aims to establish safe, efficient, and reliable electronic retail payment system that is interconnected and interoperable.?




To enroll a beneficiary, click My Beneficiary link in the Transfer Fund page then select the bank, input the account number, full name of beneficiary and contact details, then click on submit.



There is an Instapay transactional aggregated limit of P50,000 per day. There is no minimum amount per transfer and no limit of number of times that you can send.




There is a P20.00 fee for each successful transaction. This will be debited to your source account on top of the amount to be paid or transferred.

  


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