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Send money in an instant to other bank accounts in the Philippines through UCPB InstaPay and PESONet!

Send money in an instant to other bank accounts in the Philippines through UCPB InstaPay and PESONet!

It’s easier than ever to send money to any local bank in the Philippines using UCPB’s electronic banking facilities – UCPB Connect, Mobile Banking App or through UCPB ATMs!

These are made possible with InstaPay and PESONet.

Facilities InstaPay PESONet ATM Inter-bank Fund Transfers (IBFT)
What is it best used for? Retail transfers up to P50k Retail or corporate transfers (any amount) Retail transfers
How can I access the facility?
UCPB Mobile Banking App
UCPB Connect
UCPB Mobile Banking App
UCPB Connect
UCPB Branches
UCPB ATMS
How much can I transfer?* Up to P50,000 per transaction Any amount Based on ATM transaction limits
When can I do my fund transfers? 24×7 24×7 24×7
How much will I be charged? P25 per transaction P100 per transaction P25 per transaction
When will my beneficiary receive the funds? Real time Banking Day : Same banking day (if processed before 3PM)

Weekends and Holidays : Next banking day

The actual time of crediting by the beneficiary bank to your beneficiary’s account depends on the other bank’s processing cut-off times.

Real time
What information do I need to specify during transaction initiation? – Beneficiary details:

Bank Name
Account Number
Account Name
Beneficiary Address
Beneficiary contact details (Mobile Phone Number or Email Address)

– Purpose of transfer

– Beneficiary details:

Bank Name
Account Number
Account Name
Beneficiary Address
Beneficiary contact details (Mobile Phone Number or Email Address)

– Purpose of transfer

Beneficiary Bank Name
Beneficiary Account Number
What confirmation can we get for our transfers? Both the Sender and Receiver (if contact details have been provided) will receive email and SMS confirmation. Both the Sender and Receiver (if contact details have been provided) will receive email and SMS confirmation. The confirmation is printed on the ATM transaction receipt
*subject to Connect and Mobile App daily transaction limit of P9.9 million

What are InstaPay and PESONet?

InstaPay is an electronic fund transfer (EFT) service that allows customers to transfer PHP funds almost instantly between accounts of participating BSP-supervised banks and non-bank e-money issuers in the Philippines. The service is available 24×7, all year round.

For complete information on InstaPay, please visit http://www.bsp.gov.ph/downloads/primers/FAQ_Instapay.pdf

PESONet is a new electronic funds transfer service that enables customers of participating banks, e-money issuers or mobile money operators to transfer funds in Philippine Peso currency to another customer of other participating banks, e-money issuers or mobile money operators in the Philippines.

For complete information on PESONET, please visit www.pesonet.info.

Through the UCPB PESONET Service, transfers done before 3PM will be received by the beneficiary in full amount, on the same day.

To use PESONET, you will need your recipient’s correct Bank Name, Account Number, full name, complete address and mobile phone number of your recipient / beneficiary.

To use InstaPay and PESONet in the UCPB Mobile App, please make sure you are using version 2.3.0 for Android, or 2.3.5 or higher for iOS. Go to Google Play Store or the App Store to update your app.
 

FREQUENTLY-ASKED QUESTIONS:

How do I transfer to other banks?

Transferring Funds Through InstaPay
There are two options on how to transfer funds through Instapay: through UCPB Connect and UCPB Mobile Phone.

  1. UCPB Connect: 
  • Log in to UCPB Connect (Not yet a registered user?  Click here to learn more)
  • Generate a transaction password.
  • Click on Inter-bank Fund Transfer via InstaPay.
  • Fill up the form and wait for confirmation.
  1. UCPB Mobile Phone Banking App:
  • Log in using your UCPB Connect Username and Password.
  • Click on Transfer Funds and then select Transfer to other Bank.
  • Choose InstaPay.
  • Fill up the form and wait for confirmation.
Transferring Funds Through PESONet
There are three options on how to transfer funds through PESONet:  through UCPB Connect, UCPB Mobile Phone Banking and over the counter in UCPB branches.

  1. UCPB Connect: 
  • Log in to UCPB Connect (Not yet a registered user?  Click here to learn more)
  • Generate a transaction password
  • Click on Inter-bank Fund Transfer via PESONet
  • Fill up the online form and wait for confirmation.
  1. UCPB Mobile Phone Banking App:
  • Log in using your UCPB Connect Username and Password.
  • Click on Transfer Funds and then select Transfer to other Bank
  • Choose PESONet.
  • Fill up the form and wait for confirmation.
  1. UCPB branches:
  • Visit any UCPB branch
  • Fill up the Payment Order Application form.
 
How soon will my beneficiary receive the funds?
For InstaPay:

  • Fund transfers will be reflected in the beneficiary’s account almost immediately after the transaction.

For PESONet:
Provided that all the details indicated (bank name, account number, full name, address and mobile number) are correct:

  • Fund transfers done before 3:00 PM on banking days will be processed by UCPB and sent to your beneficiary’s bank on the same day.
  • The actual time of crediting by the beneficiary bank to your beneficiary’s account depends on the other bank’s processing cut-off times. However, the funds should still be received by the beneficiary on the same day.

 
Can I transfer funds even on weekends and holidays?
For InstaPay:

  • Transactions are processed 24×7, all year round.

For PESONet:

  • Transactions are processed during banking days only.  If you transacted on a weekend or holiday, your transaction will be processed on the next banking day.
  • In case you made a transfer on a Friday beyond the 3:00 PM cut-off, your request will be processed on the following Monday.

 
How much are the service charges when doing fund transfers?
For InstaPay:

  • The service charge for the use of InstaPay is Php 25 per transaction. Your recipient will receive the full amount that you transfer.
  • For example, you want your recipient or beneficiary to receive Php 2,000:
  • Input Php 2,000 in the amount to be transferred. 
  • Your account will be deducted with the Php 2,000 transfer and the Php 25 service charge.

For PESONet:

  • The service charge for the use of PESONet is Php 100 per transaction.  Your recipient will receive the full amount that you transfer.
  • For example, you want your recipient or beneficiary to receive Php 2,000:
  • Input Php 2,000 in the amount to be transferred. 
  • Your account will be deducted with the Php 2,000 transfer and the Php 100 service charge.

 
What if I made a mistake and provided the wrong details (bank name, account number, amount, full name, address and mobile number), can I still edit, change or amend my request?

  • If the beneficiary bank is unable to credit the transaction to your beneficiary (i.e. wrong or invalid account number), the funds should be returned to the sender on the next banking day.
  • As long as a valid account number is provided, the credit to the beneficiary’s account is considered final.  We encourage you to ensure the correct account number is indicated in your PESONet or InstaPay transfer.
However, in the event that you provided the wrong account number, the request for recovery will be processed on a best effort basis subject to the accountholder’s consent as well as the beneficiary institution’s internal policies on recovery. These will take into consideration: (1) availability of credited funds; (2) beneficiary accountholder’s consent to be debited; and (3) turnaround time. Returned funds may be subject to service fees for the recovery.

 
 
If my Fund Transfer was rejected by the beneficiary bank, how soon can you return my money?
This will depend on the beneficiary bank.
 
 
If my Fund Transfer was rejected, will the service fee be refunded?
Service fee from rejected transactions will no longer be refunded.
 
 
Why do I need to provide the Beneficiary address?
This is to comply with the Anti-Money Laundering (AMLA) requirements.
 
 
Can non-UCPB accountholders use the UCPB branches to do fund transfers?
Clients need to have an account with UCPB to use the UCPB InstaPay and PESONet Service.  This will also ensure that rejected funds are returned to the correct sender.
 
 
As a UCPB accountholder, can I receive funds from other banks?
Yes, your UCPB Account can receive funds from other Philippine banks as well!  Simply provide the following to your sender:

  • UCPB Account number (10 or 12 digits)
  • Full name
  • Complete address
  • Mobile number
Please remind your sender to choose UNITED COCONUT PLANTERS BANK or UCPB from the dropdown list.

 
 
I need more information.  Who can I call?
To know more about InstaPay, watch this video.
 
To know more about PESONet Fund Transfers, click on the following videos:

For any concerns, please contact UCPB’s Customer Relations Center at (02) 811-9111 or email crc@ucpb.com

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