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Republic of the Philippines 
House of Representatives 
Quezon City, Metro Manila 
Nineteenth Congress 
Second Regular Session 
HOUSE BILL NO. 9749
Introduced by Representative LORDAN G. SUAN 
AN ACT 
MANDATING THE WAIVER OF FEES FOR SMALL-VALUE TRANSACTIONS IN 
ELECTRONIC WALLETS AND ELECTRONIC FUND TRANSFERS 
EXPLANATORY NOTE 
According to the Financial Inclusion Survey conducted by the Bangko 
Sentral ng Pilipinas in 20211, the percentage of Filipino adults with mobile phone 
is 92% and adults using the internet is 77%. However, 44% of the total adult 
population or 34.3 million adult Filipinos remains unbanked. 
The proposed "Electronic Wallet and Electronic Fund Transfer Small-Value 
Transaction Fee Waiver Act" promotes financial inclusion by eliminating fees for 
small transactions in e-wallets and electronic fund transfers. 
E-wallets offer a convenient and affordable alternative to traditional
banking. Waiving fees for small transactions will encourage wider adoption 
among low-income individuals, increasing financial inclusion and economic 
growth. 
The bill also mandates transparency in fee disclosure and encourages 
competition among e-wallet providers, ultimately benefiting consumers. 
1 Bangko Sentral ng Pilipinas (2021) 2021 Financial Inclusion Survey. Available at: 
https://www.bsp.gov.ph/Inclusive%20Finance/Financial%20Inclusion%20Reports%20and%20Publications/2021
/2021FISToplineReport.pdf (Accessed: 12 December 2023). 
December 12, 2023
4:52 pm


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With its potential to empower individuals, promote financial literacy, and 
foster economic growth, the passage of this bill is crucial for a more inclusive and 
financially secure Philippines. 
In light of the preceding, this bill’s approval is fervently sought. 
LORDAN G. SUAN 
Cagayan de Oro City – 1st District 


1 
Republic of the Philippines 
House of Representatives 
Quezon City, Metro Manila 
Nineteenth Congress 
Second Regular Session 
HOUSE BILL NO. 9749 
Introduced by Representative LORDAN G. SUAN 
AN ACT 
MANDATING THE WAIVER OF FEES FOR SMALL-VALUE TRANSACTIONS IN 
ELECTRONIC WALLETS AND ELECTRONIC FUND TRANSFERS 
Be it enacted by the Senate and House of Representatives of the Philippines in 
Congress assembled: 
SECTION 1. Short Title. — This Act shall be known as the “Electronic Wallet 
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and Electronic Fund Transfer Small-Value Transaction Fee Waiver Act.” 
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SECTION 2. Declaration of Policy. — The State recognizes the vital role of 
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electronic wallets (e-wallets) in promoting financial inclusion and providing 
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access to financial services for all Filipinos, especially the low-income and 
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unbanked population. 
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However, 
fees 
associated 
with 
small-value 
transactions 
can 
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disproportionately 
burden 
low-income 
individuals, 
limiting 
their 
full 
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participation in the digital economy. 
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Therefore, it is declared the policy of the State to: 
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(a) Promote digital inclusion by mandating the waiver of fees for small-value
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transactions for e-wallets; 
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(b) Encourage wider adoption and usage of e-wallets among low-income
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and unbanked Filipinos; and 
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(c) Contribute to the overall financial inclusion goals of the Philippine 
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government. 
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SECTION 3. Definition of Terms. — For the purposes of this Act: 
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(a) “Electronic wallet” or “E-wallet” refers to a digital platform that allows 
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users to store, send, and receive money using a mobile device or other electronic 
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means. 
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(b) “Small-value transaction” refers to a transaction involving an amount of 
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not more than ₱1,000. 
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(c) “Low-income individual” means an individual whose income falls below 
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the national poverty line, as determined by the National Economic and 
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Development Authority (NEDA). 
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(d) “Unbanked individual” means an individual who does not have access 
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to formal financial services such as bank accounts. 
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SECTION 4. Mandatory Waiver of Fees. — (a) All e-wallet providers (EWP) 
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and electronic fund transfer service providers (EFTSP) operating in the 
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Philippines shall be required to waive all fees associated with small-value 
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transactions for all users. 
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(b) This fee waiver shall apply to, but not be limited to, the following types 
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of transactions: 
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(1) Sending money to another e-wallet user; 
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(2) Cashing-in to an e-wallet account; 
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(3) Cashing-out from an e-wallet account; and 
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(4) Transferring funds to a bank account. 
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SECTION 4. Daily Cumulative Limit. — If the total small-value transactions 
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exceed ₱2,000, the subsequent small-value transactions shall be subjected to 
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fees. 
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SECTION 5. BSP power to adjust amounts. — The amount set for small-
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value transactions and the daily cumulative limit may be adjusted by the BSP 
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factoring in daily cost of living as determined by the Department of Labor and 
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Employment (DOLE), current exchange rate, and inflation rate. 
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SECTION 6. Transparency and Disclosure. — (a) EWPs and EFTSPs shall 
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clearly disclose all fees and charges associated with their services in a prominent 
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and easily accessible manner, including the fee waiver for small-value 
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transactions. 
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(b) EWPs and EFTSPs shall make available information on fees and charges 
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on their websites, mobile applications, and other communication channels. 
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(c) EWPs and EFTSPs shall provide customer support in addressing any 
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inquiries or concerns related to fees. 
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SECTION 7. Monitoring and Enforcement. — The BSP shall be responsible 
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for: 
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(a) Monitoring compliance of EWPs and EFTSPs with the provisions of this 
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Act; 
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(b) Investigating complaints and taking appropriate action against non-
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compliant EWPs and EFTSPs, which may include the imposition of fines and 
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other penalties; 
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(c) Conducting periodic reviews of the implementation of this Act and 
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making necessary recommendations for improvement; and 
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(d) Issuing guidelines and regulations for effectively implementing this Act. 
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SECTION 8. Public Awareness and Education. — The BSP, in collaboration 
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with relevant government agencies and EWPs and EFTSPs, shall undertake 
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initiatives to: 
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(a) Increase awareness about the benefits of e-wallets and the mandatory 
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fee waiver for small-value transactions; 
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(b) Educate low-income and unbanked individuals on how to use e-wallets 
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safely and effectively; 
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(c) Promote financial literacy and responsible financial management 
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practices; and 
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(d) Encourage the development of financial products and services tailored 
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to the needs of low-income individuals. 
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SECTION 9. Implementing Rules and Regulations. — Within ninety (90) days 
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from the effectivity of this Act, the BSP shall, in coordination with relevant 
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agencies, promulgate the necessary rules and regulations for the effective 
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implementation of this Act. 
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SECTION 10. Separability Clause. — Any portion or provisions of this Act 
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that may be declared unconstitutional or invalid shall not have the effect of 
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nullifying other portions or provisions hereof as long as such remaining portions 
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or provisions can still subsist and be given effect in their entirety. 
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SECTION 11. Repealing Clause. — All laws, presidential decrees, executive 
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orders, memoranda, circulars, and other issuances, or parts thereof, which are 
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inconsistent with the Act, are hereby repealed or modified accordingly. 
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SECTION 12. Effectivity Clause. — This Act shall take effect fifteen (15) days 
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after its publication in the Official Gazette, in a newspaper of general circulation, 
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or on a website provided for by law.
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Approved,