BPI, UnionBank to implement P5 cash-in fee for linked account via GCash

Gcash Cash In Fee Via Bpi Unionbank Fi

Starting October 2, 2023, GCash users will have to cough up PHP 5.00 for cash-in transactions via Bank of the Philippine Islands (BPI) and UnionBank.

This change is “due to increasing costs,” as per GCash’s recently updated support document 50. Users still have less than two months to enjoy free cash-ins through the said banks.

Ss Gcash Cash In Fee Via Bpi Unionbank Support Document

Photo/ GCash Help Center under “General Cash In Inquiries”

You can sidestep this new fee by using workarounds like InstaPay 43 or via other banks’ own platform. And if you’re feeling fancy, go ahead and use PayPal cash-in, which remains free.

However, these workarounds may still have their own set of fees, ranging from P10 to P25, depending on the payment platform or bank used.

Considering that other banks may charge higher fees, opting for the P5 GCash cash-in fee is the more logical choice.

As of writing, Maya—a competing e-wallet and a bank—allows users to transfer funds from BPI for free. However, unlike GCash which has no minimum transfer amount for BPI transfers, Maya requires a minimum transfer amount of PHP 500.

While we can hope that GCash won’t add any more banks to have cash-in fees, only time will tell if more will be added to the list.

JM Chavaria

JM's highest stat is probably his curious ardor to anything tech—electronics and gaming in particular. He certainly heeds utmost regard to specsheet, visuals, and rule of thirds. If creativity and wit sometimes leave JM's system, watching films, anime and a good stroll for memes are his approved therapeutic claims.

https://www.yugatech.com/

6 Comments

Francis San Diego says:

1 year ago

The BSP and DTI should require that e-wallet and e-commerce companies provide at least one method of payment/cash-in without service fees as a condition of being allowed to operate.
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Dre says:

1 year ago

Gcash and bpi is under the same group of company. They shouldn provide it free.
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Mel says:

1 year ago

The BSP and DTI should require that e-wallet and e-commerce companies provide at least one method of payment/cash-in without service fees as a condition of being allowed to operate.
- Reply
juzt says:

1 year ago

gcash is not getting advtge with there easy banking. and now getting there hard earned investment. but there are still loop hole. i can still cash in money at gcash for free. even they will implement that oct 2 policy.
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Ronnie aliben says:

1 year ago

Im join
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Roy D. Prado says:

1 year ago

This is just sad…again… bank fees…
- Reply