DRPS PHCA Free Finance: GoTyme Bank has 20 Free Bank Transfers a month, while CIMB had “62”

​Have you’ve seen a social media post from CIMB Bank that they are promoting their Interbank Bank Transfers (via InstaPay and Pesonet), claiming that they are “Fact checking” the total number of transers a month you can send to an another bank, in which they said you can have “62 free transfers a month”, with only 2 free transfers daily, which is capped at PHP 1,000.00, and they even comparing it with GoTyme Bank’s 20 free transfers?

The DRPS PHCA compared CIMB and GoTyme Bank’s numbers, and also with the presence of the other digital bank in the Philippines, which is MariBank, that was rebranded from SeaBank a month ago, in which it had 15 free bank transfers weekly, resets every Monday.

If GoTyme Bank offered 20 free transfers a month, then CIMB Bank has 2 transfers a day and MariBank has 15 a week. If we calculate these numbers within the whole year (365 days, 52 weeks, and 12 months), you can transfer funds from any bank account with CIMB Bank 730 times a year (2 free transfers a day × 365 days). For GoTyme Bank, as it had 20 free transfers a month, you can transfer funds 240 times a year for free (20 free transfers per month × 12 months). And for MariBank, since the free bank transfers is up to 15 a week, you can do so for 780 times annually, or 60 transfers within the month (based on the computation of 4-week period).

In excess of the free bank transfer allocations, CIMB Bank will charge PHP 10.00 a transfer, while GoTyme Bank will add PHP 9.00 after all 20 free transfers in a month window (resets on the 1st day of the month), and MariBank has a charge of PHP 15.00.

The number of free bank transfers you can do on the CIMB Bank, GoTyme Bank, and MariBank apps are comparable – which one of these banks (or the others not mentioned in here) will you prefer to transfer your funds for free via InstaPay?

PHCA CID: PHCA-2025H2-5615