Making fund transfer services in the Philippines are known for having exorbitant fees and antiquated paper processes. Now GCash offers its fund transfers service that allows its customers to transfer funds using their GCash App to any of the over 30 banks supported nationwide. Thanks to this feature, fund transfer times have been virtually reduced to zero and paper wastes eliminated, as it will only take less than 3 minutes to complete a transfer transaction digitally.
Transferring funds is easy with GCash, all customer needs are smartphone, funds in their GCash account, and the bank details of the account they’re transferring funds to. Once these are inputted, they can just sit tight and relax as the confirmation message arrives on their device. This service also allows for transfers anywhere in the Philippines where there is data connectivity present. The app also is open to use for all networks, be it Globe, Smart, Sun, Talk n’ Text, or TM.
“Fund transfers used to be a long, bogging process where customers will just wait for their turn on the cashier just to have money delivered onto another account. With GCash’s new feature, over 15 million customers can now transfers funds to more than 30 banks for free, and without taking hours,” said Anthony Thomas, President and CEO of Mynt. “This convenience, combined with all the services available in the GCash App, makes for a perfect all-in-one financial tool for all Filipinos. It also ties back to GCash’s mission of financial inclusion in the Philippines,” he added. Mynt is the operating company of GCash.
GCash, for its fund transfer service, utilizes the InstaPay platform initiated by the Bangko Sentral ng Pilipinas. It is an “Electronic Fund Transfer (EFT) service that allows customers to transfer funds almost instantly between accounts of participating BSP-supervised banks and non-bank e-money issuers in the Philippines.”
Getting a GCash account is easy. Just download the GCash App for free from the App Store or from Google Play and sign up for an account. Alternatively, you can look for @gcashofficial on Messenger and sign up. To fund their GCash account, a user can visit over 16,000 GCash partner outlets nationwide, like 7-Eleven, SM Business Centers, Robinsons Business Centers, Puregold branches, and Villarica Pawnshop branches, and tell the cashier to cash-in to their GCash account. Cashing-in to a GCash account is free.
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