Security Bank Corp. will eliminate fees for interbank fund transfers for all customers starting Friday, July 10, 2026.
The decision aligns with recent regulatory guidance from the Bangko Sentral ng Pilipinas (BSP), which has moved to cap interbank transfer fees to cover only the cost of the switching infrastructure.
The policy shift marks a significant change in the Philippine banking landscape, where transaction fees have long been a revenue stream for lenders.
By waiving these charges entirely, Security Bank is positioning itself to capture market share in digital payments, a sector that is becoming increasingly competitive as consumers demand lower-cost financial services.
The BSP’s intervention reflects a broader push to modernize the country’s payment systems and reduce friction for retail and corporate clients.
The central bank’s rules aim to ensure that fees are strictly cost-recovery based, preventing banks from charging arbitrary markups on essential transaction services.