INSTAPAY
InstaPay and PESONet
EastWest offers one of the lowest transfer fees for InstaPay, while PESONet is free of charge.
PESONet
Transfer larger amounts to anyone across the country anytime, anywhere.
- Transfer funds of up to Php2,000,000 using your smartphone, tablet or your computer.
- Funds are received sooner within the same banking day (subject to cut off) because of multiple batch settlements.
- Enjoy fund transfers at no extra charge.
instaPay
Send money to other banks and mobile wallets, anytime, anywhere.
- Transfer funds up to Php50,000 using your smartphone, tablet or computer.
- Experience real-time fund transfers.
- Enjoy low transfer fee.
Subject to General Terms and Conditions governing EastWest Bank Account
Not yet an EastWest Account Holder?
Download and fill-out the account opening form here
Email the completed form to eastwestbanker.com with scanned copies of (a) valid ID with photo and signature; (b) proof of billing showing your name and home/office address
Requirements
At least one (1) un-expired Identification Document (ID) with photo and signature
List of Accepted IDs
- Philippine Identification – PhilID
- Passport
- Driver’s License
- Professional Regulations Commission (PRC) ID
- National Bureau of Investigation (NBI) Clearance (Digitized)
- Postal ID (Digitized)
- Tax Identification Number (TIN) (Digitized)
- Government Service Insurance System (GSIS) e-Card
- Social Security System (SSS) Card
- Senior Citizen Card
- Overseas Workers Welfare Administration (OWWA) ID
- OFW ID
- Seaman’s Book
- Professional ID cards issued by the Maritime Industry Authority (MARINA)
- Government Office and GOCC ID e.g. Armed Forces of the Philippines (AF ID), Home Development Mutual Fund (HDMF ID)
- Certificate from the National Council for the Welfare of Disabled Persons (NCWDP)
- ID issued by the National Council on Disability Affairs (NCDA)
- Unified Multi-Purpose ID Department of Social Welfare and Development (DSWD) Certification
- Integrated Bar of the Philippines
- Company IDs issued by private entities for institutions registered with or supervised or regulated either by the BSP, SEC or IC
- Other identification document that can be verified using reliable, independent source documents, data, or information
- Proof of billing (under your name & home address)
- Presentation of additional documents for:
Minors
- Original and clear copy of NSO Birth Certificate
- For Guardian or Administrator, or original and clear copy of the Court Order appointing them
Tax-Exempt Individuals
- Notarized Tax Exemption Affidavit executed by the applicant/depositor
- Certification of Tax Exemption issued by Revenue District Office (RDO)
Non-Resident individual and OFW
- Passport
- Alien Certificate of Registration (ACR), Immigrant Certificate of Registration (ICR) for non-citizen of the Philippines
- Contract of Employment for Philippine citizens
Frequently Asked Questions
The Bangko Sentral ng Pilipinas established the NPRS (National Retail Payment System) which is a policy and regulatory framework to establish a safe, efficient and reliable payment system in the country.
Under the NPRS are two ACH (Automatic Clearing houses) launched as follows:
- PESONet or The Philippine EFT System and Operation Network was the first ACH launched on November 8 2017. It is a batch of electronic fund transfer (EFT) credit payment scheme, which allows EastWest customers to conveniently transfer bulk payments of high value from his account to one or multiple accounts. This facility supports payments that are recurring but are not time critical thus being a perfect alternative to the widely used paper-based check system. A maximum of 10,000,000 per transaction is allowed for EastWest customers through PESONet. The Philippine Clearing House Corporation or PCHC is the designated clearing switch operator for this service.
- InstaPay is a real-time low-value electronic fund transfer (EFT) credit push payment scheme launched on April 23, 2018. This allows EastWest customers to transfer small value payments of up to Php50,000 instantaneously from his account to an account in another participating BSP supervised financial institution & non-bank E-money issuers. BancNet is the designated clearing switch operator for this service.
| InstaPay | PESONet | |
| Availability of service | Available 24 x 7 | Transfer is subject to cut-off times at 10:00AM and 4:00PM. Transfers received after 4:00PM cut-off will be processed on the next banking day. |
| Transaction amount limit | Php250,000 | Php10,000,000 |
| Transfer Fee | Php10 | waived |
| Transfer transaction limit | Subject to daily transfer limit of Php50,000 | No daily transfer limit |
| Availability of funds to the recipient’s account | Almost real-time credit Note: Credit to the payee account is dependent on the processing of the receiving bank. | Same day credit (Subject to cut-off schedule at 10am and 4:00pm). For PESONet fund transfers done from 10:01 AM to 4:00 PM, funds are expected to be credited to the beneficiary’s account between 4:30 PM and 11 PM of the same day. For those done from 4:01 PM until 10 AM (the next day), funds are expected to be credited to the beneficiary’s account between 10:30 AM and 3 PM. |
| Purpose of transaction | Used for payments that are time critical and urgent | Used for payments that are recurring and non-urgent |
Yes, EastWest customers with personal accounts can send and receive fund transfers through InstaPay and PESONet by accessing these services through EastWest Online or Mobile. Bulk InstaPay and PESONet are available for corporate accounts on a separate online platform.
Unfortunately, InstaPay and PESONet services are only available for PHP/Peso fund transfers between Peso accounts of participating banks and non-bank e-money issuers within the Philippines.
No, it is not required to enroll the recipient’s account for fund transfers made through InstaPay or PESONet as long as the source account and recipient account are both active.
- Beneficiary’s Account Number
- Beneficiary’s First Name
- Beneficiary’s Last Name
- Beneficiary’s Bank
- Beneficiary’s Account Currency
- Transfer Amount
You may easily use InstaPay and PESONet by accessing our online facilities:
- Log-in to EastWest online: personal.eastwestbanker.com or to your EastWest Mobile app
- Select “Accounts”
- Select “Make a transfer”
- Select “Send Money” under Payment details
- Choose your payment type
- Choose your beneficiary type
- Fill in all mandatory information
- Select preferred transfer schedule (immediately via InstaPay or within 1 banking day via PESONet)
- Review your transaction details and submit
If you are expecting a fund transfer, please provide the correct 12-digit EastWest Peso Account number and Account name for a successful fund transfer.
Yes, InstaPay and PESONet are secured ways of transferring your funds electronically because they follow security standards mandated by Bangko Sentral ng Pilipinas.
If the recipient’s bank is unable to credit or rejects the fund transfer, the full amount will be returned to your account in the next 2-3 banking days.
Funds transferred via InstaPay and PESONet are credited with finality. For funds transferred to a wrong beneficiary account, please call our EastWest 24-Hour Customer Service Hotline at (+632) 8888-1700.
For InstaPay, please find the latest list of participating institutions here:
https://www.bsp.gov.ph/PaymentAndSettlement/Instapay%20Participants.pdf
For PESONet, please find the latest list of participating institutions here:
https://www.bsp.gov.ph/PaymentAndSettlement/PESONet%20Participants.pdf