InstaPay is an electronic fund transfer (EFT) service that allows customers to transfer Philippine Peso funds in real-time between accounts of participating BSP-supervised banks and non-bank e-money issuers in the Philippines.
DiskarTech which is powered by RCBC as well as Chinabank are two of the participating banks that use InstaPay. To transfer funds, customers need to access their bank’s or e-money issuer’s mobile app or internet banking facility and select transfer money feature using InstaPay.
For Chinabank app users, below is the step-by-step guide on how to send money to a DiskarTech account via Instapay with the Chinabank Mobile Banking app.
No Chinabank Mobile app yet?
Login to your account
Add Payee
To start, you must add the DiskarTech account first as a PAYEE.
Trasnfer money to DiskarTech account
Once the transaction has been successful, check the DiskarTech app to see if the amount has been added to the recipient’s account.
To know more about InstaPay, here is the InstaPay Fact Sheet from Banko Sentral ng Pilipinas (BSP). For the list of participating banks and institutions, click here. And for the corresponding fees by using the InstaPay service, click this link.
And for more information about Chinabank services, you can visit their website.
*Service Charge using Instapay has been waived during the ECQ/GCQ or Lockdown period.