Union Bank of the Philippines (UnionBank) will eliminate transaction fees for real-time person-to-person fund transfers through the InstaPay network starting July 7. The Aboitiz family-led lender announced the policy update through an official advisory, joining other commercial banks that have recently lowered digital transfer costs. According to the bank, the zero-fee InstaPay feature adds to its existing lineup of complimentary digital services on the UnionBank Online application. These current zero-fee services include PESONet transactions, transfers between UnionBank accounts, utility bills payments, telco load purchases, and in-store payments via QRPh. Industry Convergence on Transfer Fees The fee reduction follows similar policy …