Categories
Finance

GCash Fees: What are They?

In the past, GCash has waived the fees for several of their services. However, there has been recent changes where some services will soon have fees.

GCash Fees for Reference

Please use this as your reference to know more what actions or activities are free and which of those have fees. The rows in red have fees.

ActivityFee
Cash In Online
via linked BPI, Unionbank, Paypal or Payoneer
Free
Cash In Over-the-counter
(from 0 to 8000 per month)
Free
Cash In Over-the-counter
(more than 8000 per month)
Two percent (2%)
Send Money
To any Gcash Account
Free
Send Money to Bank
Bank Transfer
PHP 15 per transaction
(starting October 1, 2020)
Cash Out via ATM / Mastercard
PHP 20
Cash Out Over-The-CounterPHP 20 per PHP 1000
GCreditFree
(interest fee depends on loan amount)
International RemittanceFree
Buy LoadFree
Pay BillsFree
Save MoneyFree
GCash InsureFree
Pay QRFree
Shop OnlineFree
KKBFree
Request MoneyFree
Book MoviesFree
Source: https://www.facebook.com/wearegcash/photos/a.1252381878257183/1583747465120621/

As you can see, most of the services are still free.

Alternatives to avoid the fees

Cash-in of more than PHP 8000 per month

If there’s a BPI branch near your location then I would suggest that you open an account there. BPI to GCash, once linked, have no fees for cash-in. The same can be said for Unionbank as they also do not have fees for Unionbank to GCash cashin.

Send Money to Bank / Bank Transfer

This one is unavoidable I guess. Instapay and Pesonet really does have fees and it was only temporarily free. At PHP 15, it is cheaper than other banks such as BPI which charge PHP 50 per transaction.

Just think of it as your convenience fee where you don’t have to physically go to a bank. You avoid the travelling, the falling in line and you save time.

Cash-Out / Withdrawals

Similar to Bank Transfer where I believe it is unavoidable as GCash (G-XChange) is like a separate bank. It is the same concept when you withdraw money from a different bank’s ATM machine. Perhaps in the future, we would see GCash having their own ATM Machines?

Join GCash

GCash has been very useful to me as I use it to do bank transfers, pay for online shopping and even earn 3% per annum on their savings account. You are missing out if you haven’t joined.

I’ve shared PHP 70 worth of freebies for you to try it out. Just click the link on your PC or mobile to join. https://gcsh.app/r/5XFRAEB

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