Major banks in the Philippines now offer free digital fund transfers following Landbank’s decision to eliminate digital transaction fees, a move that Finance Secretary Frederick Go said started a chain reaction across the entire banking system and benefited millions of Filipinos who pay for goods and services digitally.
Go made the disclosure in an interview on DZRH News program “Special on Saturday,” as part of the DZRH SONA 2026 Series featuring the Department of Finance.
He said Landbank moved first in May, initially offering one free digital transaction per day and reducing the fee on subsequent transactions from ₱15 to ₱8, before eventually eliminating fees entirely.
“Ngayon all the major banks, lahat po ng malalaking bangko, zero na po ang digital payments. Dati magbabayad ka ng 10 to 20 pesos kada transaction,” Go said.
He said the elimination of digital payment fees is particularly significant for government-to-public transactions, where Filipinos previously had to pay convenience fees just to settle their government obligations using their phones or computers.
Go said Landbank’s move was the catalyst for the industry-wide shift, demonstrating that government financial institutions can drive positive change in the broader banking sector by taking the lead on consumer-friendly reforms.
The elimination of digital transaction fees is part of a broader financial inclusion push by the Marcos administration to make banking and payments more accessible to ordinary Filipinos, particularly those in provinces and rural areas who rely heavily on digital platforms for financial transactions.
Go said this development, combined with the SSS and GSIS micro loan programs and the expansion of VAT-exempt medicines, represents the DOF’s commitment to delivering tangible, everyday benefits to Filipino families.
