Digital payment firm PayMaya has clarified that sending money from PayMaya to other banks and e-wallets via InstaPay will continue to remain free until October 31, 2020. It added that sending money from PayMaya to PayMaya also remains free of charge.
“We encourage our customers to check with their bank or e-wallet provider for any possible transaction fees when Adding Money to their PayMaya accounts via InstaPay. Account holders may also add money for free by linking their BPI account in the app, over the counter via BDO and MiniStop stores, and in Pera Hub branches nationwide” the company said in an advisory.
The confusion arose after PayMaya’s main rival, GCash, said it has started charging transaction fees on Thursday, October 1.
“Effective October 1, 2020, selected commercial banks and Electronic Money Institutions (EMIs) using the InstaPay network will start charging a transaction fee when doing a fund transfer (cash-in-transaction) into GCash,” the company said in a statement.