DICT Backs BSP’s Push for Zero Fees on Personal, MSME Fund Transfers

The Department of Information and Communications Technology (DICT) has officially expressed support for the Bangko Sentral ng Pilipinas’ (BSP) proposal to eliminate fees on electronic fund transfers for personal use and payments to micro, small, and medium enterprises (MSMEs).

In a position paper addressed to BSP Governor Eli Remolona Jr., DICT Assistant Secretary Celine Melanie Dee said this policy would lead to increased income for gig workers, full remittance transfers for OFW families, and further growth in e-commerce.

“We believe this is a significant step in creating a more inclusive and efficient digital financial ecosystem in the Philippines,” said Dee.

DICT highlighted that removing transfer fees would make digital payments more accessible, especially for small business owners and informal workers. It would also promote broader participation in the digital economy by eliminating cost barriers.

The agency reaffirmed its commitment to supporting BSP’s goals for inclusive digital economic growth and pledged assistance in the implementation of the zero-fee policy.