What is InstaPay?
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 24x7, all year round.
For more information on InstaPay, you may visit http://www.bsp.gov.ph/payments/nrps_overview.asp
Who can cash out through InstaPay?
The Coins.ph account should be at least level 2 verified and a verified mobile number should be linked to the account to be able to cash out through InstaPay.
*Level 2 Verified:
How can I cash out through InstaPay?
Steps on how to cash out through InstaPay:
1. Choose Cash Out from your Coins.ph App.
2. Click bank and choose the bank you would want to cash out to.
3. Input the amount to cash out and choose InstaPay as your cash out method (Fee of 10 PHP/transaction).
4. Input the following details:
- Account Holder Name
- Bank Account Number
- Mobile Number (Optional)
5. Slide to confirm.
- Cash out limit applies
Which banks can I cash out to via Instapay?
Listed below are the banks that may be processed through InstaPay on Coins.ph. Our team will be continuously updating our list to add more banks to be processed through this system.
- Asia United Bank Corporation
- Bangko Mabuhay (A Rural Bank), Inc.
- Bank of Commerce
- Card Bank, Inc.
- Cebuana Lhuillier Rural Bank, Inc.
- China Bank Savings, Inc.
- China Banking Corporation
- CTBC Bank (Philippines) Corporation
- Development Bank of the Philippines
- Dungganon Bank (A Microfinance Rural Bank), Inc.
- East West Banking Corporation
- EastWest Rural Bank
- Equicom Savings Bank, Inc.
- G-Xchange, Inc.
- Grabpay Philippines
- ING Bank N.V.
- ISLA Bank (A Thrift Bank), Inc.
- Land Bank of The Philippines
- Malayan Bank Savings and Mortgage Bank, Inc.
- Maybank Philippines, Inc.
- Metropolitan Bank and Trust Company
- Partner Rural Bank (Cotabato), Inc.
- PayMaya Philippines, Inc.
- Philippine Bank of Communications
- Philippine Business Bank, Inc., A Savings Bank
- Philippine National Bank
- Philippine Trust Company
- Philippine Veterans Bank
- Quezon Capital Rural Bank, Inc
- Rizal Commercial Banking Corporation
- Robinsons Bank Corporation
- Rural Bank of Guinobatan
- Security Bank Corporation
- Sterling Bank of Asia, Inc., A Savings Bank
- Sun Savings Bank, Inc.
- Union Bank of the Philippines
- United Coconut Planters Bank
- Wealth Development Bank Corporation
- United Coconut Planters Bank
What is the processing time for cash outs through Instapay?
All cash outs through Instapay should settle real-time.
How much are the fees for cash outs through Instapay?
Fees for InstaPay cash outs are waived until February 28, 2021. After this period, a 10 PHP fee will be charged for every successful InstaPay cash out transaction.
The minimum amount that may be processed is 50 PHP while the maximum amount is 50,000 PHP.
What if I entered a wrong account number for my InstaPay cash out?
Please be informed that all funds transferred via InstaPay are considered final. With this, customers must exercise extreme care in providing the recipient information and amount to be transferred. The amount will be credited real-time to the recipient information provided.
For any issues or concerns with your transaction, you may reach out to our support team at firstname.lastname@example.org.
For more information on InstaPay, you may refer to this link.