1. The Program
The Free InstaPay benefit provides eligible EastWest Bank (EastWest) clients with a fee waiver when using the InstaPay network via EastWest’s official digital banking channels.
2. Eligibility Requirements
Must maintain an active EastWest or KOMO account.
Account Status: The account must be a Philippine Peso (Php) Savings or Checking account in active and good standing. Foreign currency accounts are strictly excluded.
3. InstaPay transaction limits shall apply.
Processing Time: Real-time, 24/7 availability.
Maximum Per Transaction: Php 50,000 per transaction.
Daily Aggregate Cap: Eligible clients may transfer an aggregate maximum of Php 200,000 per day across all digital channels for EastWest and Php 50,000 for KOMO.
4. Permitted Channels
The fee waivers apply exclusively to outbound InstaPay transfers executed through the following channels:
- EastWest EasyWay Mobile Application
- EastWest Online Internet Banking Portal
- Official QR Code scanning and uploading (InstaPay QR)
- KOMO
PESONet transfers initiated by eligible clients through EastWest’s official digital banking channels shall remain free of charge. Standard processing times and limits for PESONet transfers, as set by EastWest Bank and the PESONet network, shall apply.
5. Standard Exclusions and Disqualifications
Other Networks: The Program applies strictly to InstaPay. Transactions made via Real-Time Gross Settlement (RTGS), SWIFT, or over-the-counter wire transfers are subject to standard bank fees.
Inbound Transfers: Any fees levied by the sending/originating external bank for inbound transfers to an EastWest account are not covered.
System Abuse: EastWest reserves the right to suspend or disqualify accounts that engage in "split transactions" (breaking down a single large amount into multiple smaller transactions to circumvent network caps) or fraudulent velocity patterns.
Any use of the Free InstaPay service for unauthorized commercial pooling, money mule activities, or other forms of abuse will result in immediate disqualification and potential account closure.
6. Regulatory and Anti-Money Laundering (AMLA) Compliance
Regulatory Compliance
All transactions processed under the Program are strictly subject to the rules and regulations of the Bangko Sentral ng Pilipinas (BSP), the Anti-Money Laundering Council (AMLC), and the provisions of Republic Act No. 9160 (Anti-Money Laundering Act of 2001), as amended.
Transaction Monitoring: EastWest may temporarily hold, restrict, investigate, or process transactions in accordance with BSP regulations, the Anti-Financial Account Scamming Act (AFASA), and other applicable laws and regulations.
EastWest reserves the right to freeze, reverse, or hold any fund transfer flagged by its automated fraud and anti-money laundering monitoring systems.
Security Responsibilities: Clients are responsible for maintaining the confidentiality of their digital banking credentials and must notify EastWest Bank immediately upon discovering any unauthorized transaction or suspected compromise.
7. Accountability
The client agrees to provide legitimate supporting documentation for any transaction upon request of EastWest. Any account suspected of engaging in high-velocity "split transactions," suspicious funneling, or unauthorized commercial pooling shall be subject to an investigation and, if found liable, shall be penalized accordingly, which may include but not be limited to revocation of priority privileges and account closure. Clients shall safeguard their authentication credentials and comply with EastWest’s prescribed security procedures to protect their accounts against fraud.
8. Joint Account Holder Guidelines
"And/Or" Accounts: For joint "And/Or" accounts, each named co-depositor is individually eligible to utilize the free InstaPay features through their respective digital banking credentials.
Shared Daily Limits: The aggregate daily transfer limit of Php 200,000 for EastWest for InstaPay apply to the account itself, not per individual user. Combined outbound transfers by all co-depositors cannot exceed these daily caps. The aggregate daily transfer for KOMO for Instapay is Php 50,000.
"And" Accounts: Joint "And" accounts that require dual or multi-signature approvals are inherently restricted from instant, single-user digital transfers and do not qualify for these mobile/online-initiated features.
Joint Liability: All joint account holders shall be held jointly and severally liable for all transactions executed, as well as for any breaches of these terms and conditions, committed by any co-depositor using the free InstaPay feature.
9. Indemnity
The client agrees to indemnify and hold EastWest harmless from any loss, liability, or expense arising from the client's misuse of the Free InstaPay service or breach of these terms and conditions.
10. Dispute Resolution and Customer Concerns
Reporting Protocol: Clients are encouraged to report any unauthorized or disputed transactions immediately upon discovery to facilitate recovery and investigation efforts. Delayed reporting may affect EastWest’s ability to recover funds or complete the coordinated verification process under applicable laws and BSP regulations.
Contact Channels: Issues must be lodged directly through the 24-Hour EastWest Customer Service Hotline at (+632) 8888-1700 for EastWest transactions or (+632) 8888-1755 for KOMO transactions or via email at service@eastwestbanker.com.
Investigation Period: EastWest will investigate the incident in coordination with the Bangko Sentral ng Pilipinas (BSP) Clearing Switch Operator (CSO). InstaPay resolutions typically take five (5) banking days, and EastWest shall update the affected client on the status of the investigation accordingly. Refunds or reversals of erroneous transactions will be processed at EastWest’s discretion, subject to investigation and submission of required documentation by the client.
Liability Limitations: EastWest shall not be held liable for delayed or failed transfers resulting from recipient bank system downtimes, incorrect beneficiary account details provided by the affected client, or localized network connectivity failures.
Force Majeure: EastWest shall not be liable for any failure or delay in performing its obligations due to causes beyond its reasonable control, including but not limited to acts of God, war, cyberattacks, or regulatory changes.
Escalation: If the affected client is unsatisfied with the outcome of the internal resolution, he or she may further escalate the concern to the BSP Consumer Protection and Market Conduct Office of (CPMCO) via its webchat at www.bsp.gov.ph.
11. Amendment and Termination
EastWest may amend, suspend, or terminate the Program, subject to applicable laws, BSP regulations, and prior notice, where required.
Frequently Asked Questions:
1. What is the Free InstaPay Program?
The Free InstaPay Program allows eligible EastWest clients to enjoy free InstaPay interbank fund transfers when using EastWest's official digital banking channels.
2. Who is eligible for theProgram?
Any EastWest or KOMO client with an active peso savings or checking account.
3. What accounts qualify for theProgram?
Qualified accounts must be:
- Philippine Peso (Php) Savings or Checking Accounts
- Active and in good standing
Foreign currency accounts are not eligible.
4. Is enrollment required?
No. Eligible clients who meet the program requirements will automatically enjoy the applicable InstaPay fee waivers.
Free Transfer Benefit
5. How do I enjoy this benefit?
There will be no InstaPay fee charged to your EastWest or KOMO account when you complete the transaction.
6. How many free InstaPay transfers can I make?
There is no cap on the number of InstaPay transactions per eligible account but subject to the transaction and daily aggregate limits and also regulatory and AMLA compliance.
7. Up to when is the fee InstaPay waiver?
The fee InstaPay waiver will start on July 15 and will be in effect until further notice.
8. Are inbound InstaPay transfers free?
The program covers only outbound InstaPay transfers initiated from eligible accounts. Any fees charged by the sending bank for inbound transfers are not covered.
Transaction Limits
9. What is the maximum amount I can transfer per InstaPay transaction?
The maximum amount per InstaPay transaction is Php50,000.
10. What is the daily transfer limit?
Eligible clients may transfer up to an aggregate of Php 200,000 per day across all eligible digital channels for EastWest accounts and Php 50,000 for KOMO accounts.
11. Can I exceed thePhp 200,000 daily limit by using multiple channels?
No. The Php 200,000 daily cap applies across all EastWest digital channels combined. For KOMO accounts, the daily cap is Php 50,000.
12. Are InstaPay transfers processed immediately?
Yes. InstaPay transfers are generally processed in real time and are available 24/7.
Eligible Channels
13. Which channels qualify for theProgram?
Free InstaPay transactions must be initiated through:
- EastWest EasyWay Mobile App
- EastWest Online Internet Banking Portal
- Official InstaPay QR scanning or uploading
- KOMO
14. Are branch transactions included?
No. The fee waiver applies only to eligible digital banking channels.
15. Are transfers made through other payment networks covered?
No. The Program applies only to InstaPay transfers.
Exclusions
16. Does the program cover PESONet transfers?
PESONet transfers remain FREE.
17. Are Real Time Gross Settlement (RTGS), Society for Worldwide Interbank Financial Telecommunications (SWIFT), or over-the-counter transfers included?
No. These transactions remain subject to applicable bank fees.
18. Will fees charged by another bank be waived?
No. Any fees imposed by another bank are outside the scope of the program.
Eligibility and Account Maintenance
19. What if my account becomes inactive or restricted?
Only accounts that are active and in good standing may continue to enjoy the Program.
20. Does having a KOMO account automatically make me eligible?
No. You must maintain and active KOMO account with a minimum average daily balance of Php2,000.
Joint Accounts
21. Are joint accounts eligible?
Certain joint accounts may qualify, subject to the account type and digital banking access.
22. Can both owners of an “And/Or” account use the free transfers?
Yes. Each named account holder may access the feature through their own digital banking credentials.
23. Are transfer limits separate for each joint account holder?
No. The daily transfer limits apply to the account as a whole, not per individual account holder.
24. Are “And” accounts eligible?
No. Joint accounts requiring dual or multiple signatures do not qualify for mobile or online-initiated transfers under the program.
25. Who is responsible for transactions made from a joint account?
All joint account holders are jointly and severally liable for all transactions executed and should comply with the program's terms and conditions.
Compliance and Security
26. Are transactions subject toAnti-Money LaunderingCouncil (AMLC) and Bangko Sentral ng Pilipias (BSP) regulations?
Yes. All transactions are subject to the rules of the BSP, AMLC, and the Republic Act No. 9160 or the Anti-Money Laundering Act (AMLA), as amended.
27. Can EastWest investigate or hold transactions?
Yes. EastWest may freeze, hold, reverse, or investigate transactions flagged by its fraud monitoring or Anti-Money Laundering (AML) systems.
28. Can EastWest request supporting documents?
Yes. Clients may be required to provide documents supporting the legitimacy of their transactions.
Customer Responsibilities, Dispute Resolution, and Program Changes
29. What happens if I misuse the Free InstaPay service or violate the Program's terms?
If you misuse the Free InstaPay service (such as by splitting transactions to bypass limits, engaging in unauthorized commercial pooling, or acting as a money mule), your account will be subject to investigation and, if found liable, shall be penalized accordingly, such as but not limited to the revocation of your Program eligibility, account suspension, or account closure. You may also be required to compensate EastWest for any losses or liabilities resulting from such misuse.
30. Is EastWest liable for delays or failures in InstaPay transfers?
EastWest is not liable for any delays or failures in InstaPay transfers caused by system downtimes, incorrect beneficiary details provided by the client, network connectivity issues, or events beyond the bank's control (force majeure), such as natural disasters or regulatory changes.
31. What should I do if I encounter a problem or discrepancy with an InstaPay transaction?
You must report any transaction discrepancies, failed transfers, or unauthorized deductions to EastWest within fifteen (15) calendar days from the transaction date. You may contact the 24-Hour EastWest Customer Service Hotline at (+632) 8888-1700 or email service@eastwestbanker.com. The bank will investigate and coordinate with the relevant parties for the resolution of the issue. If you are not satisfied with the resolution, you may escalate the matter further to the BSP for disposition.
32. What is the process if my account is flagged for suspicious activity?
If your account is flagged for suspicious activity, EastWest may freeze, reverse, or hold your fund transfers while investigation is ongoing. Your eligibility for the Program may be revoked, and your account may be closed if abuse or violations are confirmed.
33. Can the terms of the Program change?
Yes. EastWest may amend, suspend, or terminate the Program, subject to applicable laws, BSP regulations, and prior notice, where required.