Starting July 6, 2020, card payment partners of GCash will charge a minimal convenience fee of 2.58 percent for cash-in via MasterCard/VISA bank card services. The fee is a direct charge of payment partners.
The convenience fee will be computed and will be stated in the GCash app for each cash-in via bank card transaction. For instance, a customer cashes in P100 in his GCash wallet. The convenience fee would be P2.58, for a total amount of P102.58 charged to the card.
The fee is still lower than other mobile wallets, which charge a flat rate of P30 for cash-in transactions below P1,000. GCash also provides other cash-in methods that are totally FREE, such as cash-in via linked BPI or UnionBank accounts or through a bank app or website powered by InstaPay.
GCash account holders that cash-in via their MasterCard/VISA bank cards may check their transaction histories on the GCash app or may download their transaction histories through their nominated e-mail addresses.
Globe Fintech Innovations Inc. (Mynt), which operates GCash, is part of the portfolio companies of 917Ventures, the largest corporate incubator in the Philippines wholly-owned by Globe Telecom Inc.
GCash is available for download on the App Store and Google Play. For more information, kindly visit https://www.gcash.com/.
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