How to Transfer Money from Metrobank to PayMaya (PESONet and InstaPay)

• PESONet and InstaPay waived convenience fees amidst COVID-19 lockdown effective until April 15 or as further announced.
• On regular days, PESONet and InstaPay usually charge PHP100.00 and PHP25.00 respectively per transaction.

PayMaya, a subsidiary brand of PLDT and Smart Communications and regulated by the Bangko Sentral ng Pilipinas (BSP), is a free smartphone app available on iOS and Android that provides a prepaid (reloadable) virtual Visa or MasterCard and can be used to make online payments at almost the same convenience that a regular credit card offers.

Previously, I had a short article here about How to Load Up PayMaya Using Metrobank Direct (Online) using the Metrobank Direct Online Bills Payment Facility (web-based). While I have observed that more and more Filipinos use PayMaya for cashless transactions amidst the coronavirus (COVID-19) lockdown, I decided to make a follow up article.

With Metrobank Mobile Banking App, one can also make an instant fund transfer via PESONet and InstaPay, the same simple process when making a transfer to either GCash or Coins.ph.

How to Transfer Money from Metrobank Account (Mobile Banking App) to PayMaya via PESONet and InstaPay

[1] Log In. Login to your Metrobank Mobile Banking app. You can use the fingerprint login if you have.

[2] Click TRANSFER TO OTHER BANK. As soon as you have the access, tap that burger menu icon on the upper left portion of the app interface. Click TRANSFER TO OTHER BANK.

[3] Choose Your EFT Provider. You have two electronic fund transfer service providers to choose from. You can transfer fund to your non-Metrobank Account via — InstaPay or PESONet. Check their differences in terms of convenience fees, daily fund transfer limits, and crediting time frames. You can also ENROLL the PayMaya Account for ease of future fund transfer transactions.

[4] Input Your Transaction Details. You must fill out a simple online form with the details of your transaction. For BANK, select PAYMAYA. For ACCOUNT NUMBER, key in your 11-digit mobile number. Make sure these are the same digits for which your PayMaya Account is currently enrolled.

[5] Finalize Your Transaction. Finish the transaction with your other personal details, specific Metrobank account where to deduct funds (if you have multiple accounts), and the amount to transfer.

[6] Confirm Your Fund Transfer. As per my experience, if the transfer is made via InstaPay, the fund is automatically reflected on the PayMaya Account. You must wait a few hours or overnight if it’s made via PESONet. Check your received SMS notifications as well.