GCash to charge fees for bank transfers Nov. 1, 2020 onwards • PhilSTAR Life

Effective November 1, digital wallet GCash will charge 15 pesos for bank transfers completed on the application.

Mobile wallet GCash moved its imposition of P15 bank transfer fee to November 1, 2020, according to an in-app notification. pic.twitter.com/POQzlsbphL
— The Philippine Star (@PhilippineStar) September 30, 2020

Most services, including cash in online (via linked BPI, Unionbank, Paypal, and Payoneer), cash in over-the counter (up to P8,000 monthly), send money (to any GCash account), international remittance (from Western Union, MoneyGram, Alipay HK, and more), buy load, save money, GCash Insure, pay QR, shop online, KKB, request money, and book Movies, are still free of charge.

However, GCredit may ask for an interest fee depending on the loan amount as well as possible convenience fees for bills payment.

Cash in over-the-counter services will incur a two (2) percent fee for transactions over 8,000 pesos, while cash out withdrawal will require an additional 20 pesos via Mastercard and 20 pesos per 1,000 pesos via over-the-counter.

GCash has shared the update on its site.

Banner image taken from GCash's Instagram account

TAGS: gcash digital banking

About the author

Brooke Villanueva

Deputy Editor

Brooke Villanueva is the deputy editor of PhilSTAR L!fe, covering everything lifestyle—with a focus on food and travel. Apart from her responsibilities as a lifestyle journalist, she is also taking her MBA at the Ateneo Graduate School of Business. She has completed a certificate program on the fundamentals of business developed by top faculty at Harvard Business School. Follow her on Instagram at @itsbrookevillanueva.