Small business owners across the Philippines want fees for online bank transfers and digital transactions to be capped and regulated as such financial charges can sometimes add up to a significant amount and thereby reduce their total income or profits. They also want such fees being charged by different banks, e-wallets, and financial institutions to be uniform so that MSMEs need not waste their time trying to find the most economical way to transfer funds or in seeking banking entities that charge the lowest. During the pandemic, most banks and e-wallets had waived online transfer fees and transaction charges but have now reinstated those charges.
