GCash to charge P5 convenience fee for BPI, UnionBank cash-ins starting October
GCash users who linked their Bank of the Philippine Islands or UnionBank accounts to the app will be charged a P5 convenience fee per cash-in starting Oct. 2.
On its website, the finance app said the convenience fee was "due to increasing costs." Cash-in with the two banks is currently free of charge.
The amount is significantly cheaper than the cash-in fees that other partner banks GCash has, as indicated on the app:
- AUB – P8*
- Bank of China – P20
- Bank of Commerce – P15
- BDO – P25
- China Bank – P10
- EastWest Bank – P10*
- LandBank – P15*
- Maybank – P10
- Metrobank – P25
- PBCOM – P20
- PNB – P10
- PSBank – P15
- RCBC – P25
- Security Bank – P25
*As per BSP's grid.
For other banks not on the list, GCash urges users to log in through their bank's website or mobile app and go to the Money Transfer service.
They should select "Transfer to Other Banks" via Instapay or PesoNET, then select "GCash" as the destination bank.
They must provide their GCash number as their account number, as well as other information.
A one-time password or OTP will be sent to their registered mobile number or email address, which they should then confirm for a successful transaction.