GCash launched the Virtual US Account in the Philippines on November 5. The feature lets fully verified users receive US dollar transfers and remittances straight into their GCash wallet without a US bank account.
The service targets freelancers, gig workers, and families receiving remittances from the United States. GCash says users can hold USD in-app and convert to PHP only when needed, using competitive exchange rates. The company adds that this can reduce platform fees, forex costs, and withdrawal charges that cut into take-home pay.
The Virtual US Account is powered by Meridian Payments US under a “for benefit of” arrangement. It is not a bank account, does not qualify as a deposit, and is not covered by deposit insurance. Transfers arrive instantly into the e-wallet, and funds can be converted within the app.
GCash cites Bangko Sentral ng Pilipinas data showing that the US accounts for about 40 percent of cash remittances from January to August 2025. The company positions the feature as a way to speed up inflows and lower friction for cross-border payments.
Key details
- Who can use it: Fully verified GCash users
- What it does: Receives USD directly in GCash, holds USD balance, converts to PHP in-app
- How it helps: Fewer fees, better control of conversion timing, faster access to funds
- Tech partner: Meridian Payments US (for-benefit-of account, not deposit insured)
- Availability: Live in the Philippines as of November 5, 2025
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