GCash will soon apply a convenience fee for sending money via bank transfer starting November 1, 2020. The once free transaction will now be charged a Php15 per transaction. GCash previously announced that the charges will be implemented starting on October but GCash moved it to November.
Many GCash users are saddened with this announcement as online transactions for inter-bank money transfers are becoming very important in today's situation. But like any platform, GCash is running a business and they need to earn as well.
Sending Money via Express Send, Ang Pao and Send with a clip remains free of charge.
Cash-in fee remains the same as I did not notice any announcement for convenience fee within the app. I can still cash-in with no any charges via linked bank account within the GCash app (BPI bank). It can be recalled that GCash do not have any charges for cash-in transactions via linked bank account (BPI and Unionbank).
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Cash-in via remittance like Moneygram and Western Union within the GCash app also remains free. Over-the-counter cash-ins remains free as well up to Php8,000/month limit. If you go beyond the limit, it will start charging with 2% of the excess amount you cashed-in for that particular month. You can visit this page for more details.
Fees for bills payment remains the same and continue to vary for different billers. It is important that you will check how much a biller will charged you everytime you do a transaction. The convenience fee will always reflect or shown in the app before you confirm the transaction. Most billers only charged Php15/transaction but this could changed without any notification so it is a good habit to always check.
Cash-out fees remains the same. GCash will still charged a 2% for cash-out transactions via over-the-counter outlets. like Puregold, Villarica, Robinsons Department Stores and SM.
For those who purchased a GCash Mastercard, cash-out via ATM withdrawal remains at Php20/transaction. If you do not know yet, GCash Mastercard can be purchased at Php150.