GCash’s Card Payment Partners Are Charging Pass-On Fees To GCash
World Health Organization (WHO) has encouraged everyone to use contactless payment solutions to avoid viral transmission via banknotes and coins that is why Gcash is really a big help to everyone. It allows you to pay your bills, purchase goods and services and even send or receive money wherever you are.
GCash Cash-in Convenience Fee
As Gcash increased Gcash Wallet Limit To Php 500k, they recently announced a new convenience fee for cashing in using linked Visa/MasterCard bank cards starting July 6, 2020, amounting to 2.58% of the total amount to be cashed in for every transaction.
But before you think or say anything against Gcash, let me tell you that the fee is a direct charge of GCash’s card payment partners. All fees collected will go directly to the card payment partners of GCash. GCash does not earn from the 2.58% convenience fee.
GCash Free Cash-In Methods
If not for the recent increase in charges implemented by our card payment partners, GCash will not be passing on any convenience fee for our cash-in via Visa/MasterCard bank card service.
GCash also provides other cash-in methods that are totally FREE, such as cash-in via linked BPI or UnionBank accounts or through a bank app or website powered by InstaPay.
Card Linking and Account Linking
Please take note that there is a difference between Card Linking and Account linking. Card linking, your bank’s card that uses Visa or Mastercard’s network. Usually you can also find Visa and Mastercard logos on these cards. For Account Linking, directly linking your bank account to GCash. These are first party networks that are directly between the partner bank and GCash.
Here is the list of GCash payment partners and their schedules of the implementation of the cash-in fees.
GCash is Still the Most Competitive Mobile Wallet on the Philippine Market
Even though Gcash has new fees, It is still the most competitive mobile wallet in the market considering the charges because the fee is still lower than other mobile wallets, where a flat rate of P30 is charged for each cash-in transaction (especially for cash-in transactions below P1,000). They have 70,000 partner merchants nationwide that are accepting GCash. They have multiple value added services such as GCredit, GSave, and GInvest.
And free cash-ins to those customer with linked bank accounts or via InstaPay network. Gcash is still convenient for me when paying the bills through bills through GCash Pay Bills, and bank money transfers through GCash Bank Transfers.