web analytics

BPI getting the Php5 — GCash

Last August, GCash announced that there will be a Php5 convenience fee 26 for cash-in transactions via Bank of the Philippine Islands (BPI). The charge took effect yesterday, October 2, 2023 for BPI.

Today, a GCash representative reached out again to us and explained that the Php5 charge is enforced by BPI, not GCash.

It seems that, for the longest time, GCash has been subsidizing all the transaction fees imposed by BPI for all cash-in by GCash customers. Apparently, BPI wanted to increase the transaction fees and GCash could no longer or is unwilling to subsidize the increase. Thus, the Php5 in cash-in charge.

It is possible that the actual transaction charge is much higher or comparable to other inter-bank transactions (like ATM withdrawals) that range from Php10 to Php25. GCash’s strategy to subsidize these charges for the longest time could be their way of gaining more subscribers and increasing transactions thru their platform, making them the preferred option.

Subscribe to Blog via Email

Enter your email address to subscribe to this blog and receive notifications of new posts by email.

Join 1,050 other subscribers
Avatar for Abe Olandres

Abe is the founder and Editor-in-Chief of YugaTech with over 20 years of experience in the technology industry. He is one of the pioneers of blogging in the country and considered by many as the Father of Tech Blogging in the Philippines. He is also a technology consultant, a tech columnist with several national publications, resource speaker and mentor/advisor to several start-up companies.

3 Responses

  1. Avatar for Rafael Rafael says:

    You have to check your vouchers since that’s what the rebates are credited as.

    • Avatar for Joey Joey says:

      Maya sucks!

      I get SMS.stating.I will get rebated the convenience fee but 5 out of 6 times I did not get credited. They’re a scam!

      Gcash only P5 and more widely accepted! I only went Maya for Amazon and Best Buy but their exchange rate became worst now that I ditched them for Discover.

Leave a Reply
JOIN OUR TELEGRAM DISCUSSION

Your email address will not be published. Required fields are marked *