GoTyme bank transfer update announced

The GoTyme bank transfer update has been announced, implementing a “Pay One, Free One” system. This includes transfers to other local banks and e-wallets.

Users will now have to pay an PHP 8USD 0.14INR 12EUR 0.13CNY 0.99 fee for an initial transfer, with the next one being free. This cycle will reset with each succeeding transaction, bringing the average cost to PHP 4USD 0.07INR 6EUR 0.06CNY 0.50 per transaction.

At the time of writing, the digital banking platform still allows users to make up to three free bank transfers weekly. However, the policy will be updated in 2025.

Additionally, GoTyme is offering a limited 5% per annum interest rate on savings accounts. This will be available from January 1 to February 28, 2025.

What do you guys think about the GoTyme bank transfer update? Share your thoughts with us in the comment section below.