InstaPay is the fastest way to send money in the Philippines. It is an electronic fund transfer (EFT) service available 24x7 that allows customers to transfer Php-denominated funds between accounts of participating BSP-supervised banks and non-bank e-money issuers in the Philippines. Money is received in the account instantly, as soon as it is sent.
Is InstaPay already available at Sterling Bank of Asia?
Yes, all Sterling Bank of Asia account holders can use InstaPay to send and receive funds to/from their account/s.
To send funds, you need to enroll your account in Sterling Bank Online. If you have not registered your account yet, click here to enroll. Once enrolled, you can start using InstaPay.
Where can I access InstaPay?
You may access InstaPay through Sterling Bank Online – Personal. Log in to your account either via the bank’s internet banking or Sterling Bank Online mobile app.
What are the benefits of InstaPay?
It is a safe and affordable real-time electronic retail payments system.
Send and receive funds or make payments in real-time up to Php50,000 per transaction.
Transferred funds are received in full amount since no fee is charged to the receiving account.
Are transfers via InstaPay secure?
InstaPay is secure and complies with the security standards mandated by the Bangko Sentral ng Pilipinas.
How can I send money to another local bank account using InstaPay?
Step 1: Login to Sterling Bank Online.
Step 2: Choose the source account you will use for sending money.
Step 3: Go ‘Fund Transfer’ tab and select ‘To Other Local Bank’.
Step 4: Choose ‘InstaPay’ and complete the details to proceed with sending the funds to your beneficiary’s account.
What is the minimum and maximum transaction limits for using InstaPay?
There is no minimum amount in sending funds, however, the maximum amount is up to Php50,000 per transaction, depending on the available balance of your account.
You can have more than one (1) transaction per day, subject to the 3rd Party Transaction Limit you have set in the Manage Transaction Limit setting of your Sterling Bank Online (up to Php500,000).
Are there transaction fees when using InstaPay?
Receiving funds sent via InstaPay to a Sterling Bank account is FREE. Your beneficiary will receive the money in full.
Sending funds via InstaPay has a Php15.00 service fee for every transaction that will be charged to the source account you will use in sending the money.
What type of Sterling Bank accounts can I use to send / receive money via InstaPay?
All active Sterling Bank of Asia Php savings and checking accounts can be used to send/receive money using InstaPay. For the recipient’s account number, make sure to input the 12-digit Sterling Bank savings or checking account number written on the passbook. Sterling Bank prepaid card accounts are not yet available for InstaPay transactions.
Can InstaPay be used to transfer funds to an account overseas?
No, you cannot send money (in another currency) overseas with InstaPay. InstaPay is only available for Php to Php fund transfers between accounts maintained in the Philippines among InstaPay participating institutions.
Can InstaPay be used to transfer funds from an InstaPay participating institution to a non-participating institution?
No, InstaPay can only be used to transfer funds between participating InstaPay institutions.
Here are the lists of InstaPay participants (as of October 31, 2021):