GCash clarifies new services fees

Last month, a GCash webpage (which Mynt says was published in 2019) showing additional fees for services like bills payment, cash-ins, and fund transfers, went viral. So we validated with Mynt (the company behind GCash) to clarify the details of the said service fees.

The new services fees and charges were spotted last month through this link: https://www.gcash.com/disclosure-of-fees-on-electronic-payments/, which quickly made rounds in social media.

The initial information showed flat fees of 2% for services like Bills Payment, Scan to Pay, Send Money, Remittance, Credit to GCash, Credit to Bank, and Cash-out.

As expected, plenty of GCash users were not pleased with the new charges and suggested to move to other digital wallets like Paymaya or Coins.ph.

The page was eventually taken down and is now redirecting to the main GCash homepage. However, you can still view the archived page here.

Mynt said that the page was published in 2019 but the fees were not implemented.

On May 2, GCash posted on Twitter and clarified that there will be no service fees that will be added to other GCash services except for the 2% service fee for over-the-counter cash-ins exceeding Php8,000USD 136INR 11,557EUR 130CNY 993 in a month.

Hi! Pasensya po sa kalituhan. Walang service fees na madadagdag sa ibang GCash services, except sa 2% service fee para sa mga OVER-THE-COUNTER cash-ins na lalagpas ng Php 8,000USD 136INR 11,557EUR 130CNY 993 monthly limit. Muli, ang madadagdag lang ay ang over-the-counter cash-in fee, wala nang iba. Salamat.

— GCash (@gcashofficial) May 2, 2020

GCash’s help page explains this in detail, which you can view here. But to briefly explain, when you cash-in to your GCash account via over-the-counter means like in machines, supermarkets, or department stores, the cash-in is free for up to PHP 8,000USD 136INR 11,557EUR 130CNY 993 per month. Only the amount above the limit is subject to the 2% service fee.

Cash-in via online banking is still free

According to GCash’s website, cashing in is free of charge for the following channels: BPI, UnionBank, and cash on via bank card. Users can also cash-in from the preferred bank’s website or app using InstaPay. The partner banks, however, which use InstaPay, may incur service fees which vary per bank. Cashing in via PayPal, Western Union, and MoneyGram are also free of charge.

GCash did not provide a new table of fees like the one released last month. However, they assure that GCash to GCash, GCash to Bank, and Bank Cash-in to GCash are still free of charge, whatever the amount is.

So, if you don’t want to incur charges when cashing-in large amounts to your GCash account, the best way, for now, is to use the online services/channels it supports.

We also hope that GCash publishes an updated table so that users have a better understanding of its services better.