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

By Brooke Villanueva Published Sep 30, 2020 4:36 am Updated Oct 02, 2020 8:44 am

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

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