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UCPB InstaPay provides real-time, 24/7 fund transfer service through UCPB Mobile App

UCPB InstaPay provides real-time, 24/7 fund transfer service through UCPB Mobile App

UCPB has launched its InstaPay Service which enables clients to transfer funds real-time to other Philippine bank accounts through UCPB Connect, the Bank’s suite of electronic banking facilities including internet and mobile banking.

InstaPay is the first automated clearing house (ACH) established under Bangko Sentral ng Pilipinas’ (BSP) National Retail Payment System (NRPS) Framework which aims to facilitate and promote electronic payments in the country.

Through the UCPB InstaPay Service, UCPB clients will be able to instantly send and receive funds or make payments of up to PHP50,000 per transaction, with a service fee of only P25 per transaction. The service is accessible 24/7 and eliminates the need for clients to go through the trouble of physically travelling and transacting at bank branches or payment counters.

“InstaPay makes it possible for our clients to enjoy fast, safe, convenient, affordable and seamless transactions with participating banks and e-money issuers in the Philippines. The fund transfer service is geared more for retail payments such as domestic remittances, payments to service providers, e-commerce and peer-to-peer payments,” said Charina D. Balanquit, UCPB Vice President and Head of Marketing Group.

“As BSP Governor Espenilla said, InstaPay moves us closer towards financial inclusion by connecting Filipinos through account-to-account, instant fund transfers or payments. We see a rapid take-up of this service among our customers because it truly brings convenience like no other. Imagine being able to send funds to anyone in the country with a bank account, real-time. Again, we commend the BSP and participating banks for coming together and making this possible for our clients,” she added.

For more details about InstaPay including the complete list of other banks offering this service and to know more about how to transfer funds using the UCPB InstaPay Service, visit www.ucpb.com/fundtransfers/

Date published: December 27, 2018

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Customer Advisories

BSP’s Warning Against the Improper Handling of Philippine Currency

The Bangko Sentral ng Pilipinas (BSP) warns the public that the willful defacement, mutilation, tearing, burning or destruction of Philippine banknotes and coins are punishable by a fine of not more than PHP20,000.00 and/or imprisonment of not more than five years, under Presidential Decree No. 247. It also states that Philippine “banknotes and coins are issued for circulation as medium of exchange and to utilize them for other purposes does not speak well of the due respect and dignity befitting our currency.”

The following are among the prohibited acts of defacement and/or mutilation of Philippine currency:

writing or putting marks on banknotes;
willful tearing, burning, or destruction, in any manner, of Philippine currency;
willful and excessive folding or crumpling that results in a breakdown of the structure and limpness of the banknote;
willfully causing multiple random folds across the entire banknote that toughly affect its visual appearance; and
willfully exposing banknotes or coins to chemicals or other materials resulting in the acceleration of the defacement, destruction, or natural wear and tear of the note or coin.

The public is also discouraged to staple banknotes and/or use adhesives to put on banknotes and coins as these will compromise their structural integrity.

The BSP encourages the public to report any information on improper handling of Philippine currency to the nearest police station or law enforcement agency, for appropriate action, or contact the Currency Management Sector for assistance at Tel. Nos. 988-4833 and 926-5092.

http://www.bsp.gov.ph/publications/media.asp?id=4943&yr=2019

System Maintenance Schedule: June 8, 2019 (12AM) to June 9, 2019 (11:59PM)

Please be advised that BancNet will conduct a system maintenance starting, Saturday, June 8, 2019 from 12:00 AM until 11:59PM Sunday, June 9, 2019. No downtime is expected but the activity may affect system performance.

UCPB accountholders may continue to use the UCPB ATM, Internet and Mobile Banking facilities at this time.

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Here are the links:

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For more information, please visit www.ucpb.com/mobilebanking/.

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