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PSA: GCash Will Start Charging a Fee to Cash In and Out on Oct. 1

Two banks will allow free loading into GCash wallets.
PSA: GCash Will Start Charging a Fee to Cash In and Out on Oct. 1 Two banks will allow free loading into GCash wallets.

If you transfer money from your GCash wallet to banks and electronic money institutions via the InstaPay network, you will be charged P15 per transaction starting Oct. 1, GCash said Saturday.

Banks, on the other hand, will also begin charging customers for tranfering money to GCash from Oct. 1. The amount varies, and can be as high as P50, said GCash in a statement sent to reportr.

Two banks, BPI and Unionbank, will continue offering free transfers from their respective platforms to GCash, the e-wallet platform said. BPI and GCash are both under the Ayala Group.

These transactions will remain free of charge: GCash-to-Gcash transfers, bills payment, and load purchases.
InstaPay as an inter-bank facility overseen by the Bankgo Sentral ng Pilipinas that allows nearly instantenous transfers electronically.

 

PHOTO BY INSTAGRAM/gcashofficial
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This story originally appeared on Reportr.world.

* Minor edits have been made by the Preview.ph editors.

 

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