October 25, 2019 – Coins.ph now allows fund transfer via InstaPay, an electronic fund transfer service between participating banks and non-banks in the Philippines. Coins.ph has an e-money license and is a participant of InstaPay. This allows its users to transfer funds (cash out) outside of the mobile wallet and transfer it to another.
To cash out via InstaPay, the Coins.ph user must be level 2 verified. This means the user has already gone phone, identity, and selfie verification.
Table of Contents.
How to Cash Out of Coins.ph via Instapay
- Click Cash Out.
- Click your bank where you want the money to be transferred.
- If the option is available, select InstaPay.
- Input your bank details.
Note that Cash Out Limits are in effect when doing this.
Read More: Cash In and Cash Out Fees of Philippine VCEs
Important: Coins.ph can only transfer to the following banks and non-banks via InstaPay:
- Asia United Bank Corporation
- Bank of Commerce
- China Bank Savings, Inc.
- China Banking Corporation
- Dungganon Bank (A Microfinance Rural Bank), Inc.
- East West Banking Corporation
- Equicom Savings Bank, Inc.
- G-Xchange, Inc.
- Land Bank of The Philippines
- Malayan Bank Savings and Mortgage Bank, Inc.
- Maybank Philippines, Inc.
- Metropolitan Bank and Trust Company
- Philippine Bank of Communications
- Philippine National Bank
- PNB Savings Bank
- Rizal Commercial Banking Corporation
- Robinsons Bank Corporation
- Security Bank Corporation
- Sterling Bank of Asia, Inc., A Savings Bank
- Sun Savings Bank, Inc.
- Union Bank of the Philippines
- United Coconut Planters Bank
- Bangko Mabuhay (A Rural Bank), Inc.
- CTBC Bank (Philippines) Corporation
- Development Bank of the Philippines
- ISLA Bank (A Thrift Bank), Inc.
- Omnipay, Inc.
- Partner Rural Bank (Cotabato), Inc.
- PayMaya Philippines, Inc.
- Philippine Business Bank, Inc., A Savings Bank
- Philippine Veterans Bank
- Philippine Trust Company
- Wealth Development Bank Corporation
- Processing Time: Fund transfer is done in real-time.
- Fees: Php 10.00
- Minimum Transfer Amount: Php 10
- Maximum Transfer Amount: Php 50,000
This article is published on BitPinas: Coins.ph – Cash Out to Your Bank in Real-Time Via InstaPay