Bank of Commerce Offers Free InstaPay and PESONet Transfers Starting July 17
Last Updated on July 14, 2026 by Over Here Toronto
Good news for Bank of Commerce customers: InstaPay and PESONet fund transfers will be free starting July 17, 2026. The new benefit lets users send money to other banks and e-wallets without paying transfer fees, making everyday digital transactions a little more affordable. Whether you’re splitting bills, sending allowance, or paying for purchases, here’s what you need to know about the upcoming change.
Free Fund Transfers Start July 17
Beginning July 17, 2026, BankCom Personal clients can enjoy zero transfer fees when sending money through InstaPay and PESONet using the BankCom Personal Mobile App or BankCom Personal Online Banking.
The promo applies to fund transfers made to participating banks and e-wallets, giving customers another way to save on routine banking transactions.
What This Means for Customers
Removing transfer fees can make a noticeable difference for customers who frequently send money online.
Instead of paying a fee each time you transfer funds, eligible users can move money between supported financial institutions at no extra cost. It’s a convenient option for everything from paying bills to transferring money to family and friends.
InstaPay vs. PESONet: What’s the Difference?
Not sure which transfer service to use? Here’s a quick breakdown:
- InstaPay lets you send money almost instantly, making it ideal for urgent payments.
- PESONet processes transfers in batches during banking hours and is commonly used for larger or non-urgent transactions.
With both services now free through BankCom Personal, customers can choose the option that best fits their needs.
How to Enjoy Free Transfers
To take advantage of the waived transfer fees, customers simply need to use either:
- BankCom Personal Mobile App
- BankCom Personal Online Banking
Bank of Commerce also reminds customers to ensure they’re using the latest version of the mobile app and to review any applicable transaction limits before making transfers.
Do you regularly use InstaPay or PESONet for online banking? Tell us in the comment!
Frequently Asked Questions
Bank of Commerce will begin offering free InstaPay and PESONet fund transfers on July 17, 2026.
The waived fees apply to transfers made through the BankCom Personal Mobile App and BankCom Personal Online Banking.
InstaPay is designed for near real-time transfers, while PESONet processes transactions in scheduled batches during banking hours.
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