InstaPay
1. What is InstaPay?
A real-time, low-value, electronic payment or credit transfer to other banks. It follows a clear-before-settle arrangement to allow instant confirmation of transaction.
2. Is there a limit to the number of times I can send an InstaPay transaction?
None, but you can only transfer up to P50,000 per transaction or total of P499,999.99 per day.
3. What will I do when my account was debited but an error occured upon sending my InstaPay transaction?
RCBC Online Banking will automatically debit your source account first before pushing this to the receiving account given the clear-before-settle arrangement. if there was an error encountered, depending on the error result, the amount will be automatically reversed and credited back to your account along with the transaction fee. In other cases, reconciliation or reversal will be done on the next banking day. You may also check the beneficiary account if the amount was credited since it is possible that transfer successfully pushed through with no confirmation of successful credit from the receiving bank.
PesoNet
1. What is PESONet?
PESONet is one of the payment schemes operated by the Philippine Payment Management Incorporated, as authorized by the Bangko Sentral ng Pilipinas (BSP). It has been classified by BSP as a Financial Market Infrastructure and is governed as a Prominently Important Payment
System (PIPS). This means that the BSP looks after its safety, efficiency, and resilience.
2. Is there a limit to the number of times I can perform fund transfers via PESONet?
● For Community BDA, the maximum fund transfer amount per transaction is up to P10,000.00.
● For Full BDA, the maximum fund transfer amount per transaction is up to P50,000.00.
● For RSA, the maximum fund transfer amount per transaction is up to P500,000.00.
● Note that the daily outgoing aggregate limit, regardless of DiskarTech account type, is P500,000.00.
3. What should I do if my account was debited but an error occurred when sending my PESONet transaction?
When you make a fund transfer using PESONet, RCBC DiskarTech debits your account first and then sends the amount to the receiving bank. If there’s an error during the process, the system will automatically reverse and return both the amount and the transaction fee to your account.
In other cases, funds will be returned on the next banking day. Kindly double check with the beneficiary account if the amount was credited since it is possible that the transfer successfully goes through but no confirmation is received from the receiving bank.
4. When I transfer funds through PESONet, will the beneficiary receive the funds in real-time?
Transfers before the 2:00 PM cut-off are transmitted to the receiving bank the same day. Transfers made after the cut-off, holidays, or during weekends will be transmitted the next banking day.