GoTyme bank transfer update announced

The GoTyme bank transfer update has been announced, implementing a “Pay One, Free One” system. This includes transfers to other local banks and e-wallets.

Users will now have to pay an PHP 8 fee for an initial transfer, with the next one being free. This cycle will reset with each succeeding transaction, bringing the average cost to PHP 4 per transaction.

At the time of writing, the digital banking platform still allows users to make up to three free bank transfers 21 weekly. However, the policy will be updated in 2025.

Additionally, GoTyme is offering a limited 5% per annum interest rate on savings accounts. This will be available from January 1 to February 28, 2025.

What do you guys think about the GoTyme bank transfer update? Share your thoughts with us in the comment section below.

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Communication graduate, closet cynic, and kid at heart. Duane is a rare person to find, quite literally. He often takes to himself but has proven his mettle in tech media with his quick wits. Well, the portfolio of scriptwriting, web content, and public relations help too, we suppose. As a homebody, he often spends his time on the streaming platform Twitch or ‘farming’ gaming clips with friends. He is also an avid fan of round glasses and anything relative to blueberries.

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5 Comments

YOWWW says:

11 months ago

🌱 Noobs🏆1

I chose this bank because of its free charge, but now? I don’t know anymore
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Exuser says:

12 months ago

🌱 Noobs🏆1

Used to recommend gotyme as they offer free deposit in marketplace and shopwise. But since they no longer offer it, i have stopped using gotyme. They should keep this free deposit features for it is a win win on bith the user and shopwise/ martketplace. I always end up buying something after. And my main purpose is todeposit only. Buying something after is just an afterthought.
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Sports says:

12 months ago

🌱 Noobs🏆1

GoTyme just like the 2 other former Gokongwei Companies – Sun Cellular & Robinson’s Bank seems to be in the same path of being sold since it won’t be profitable in the long haul.
Initially I was using it becsuse of the convenience of being able to Deposit via the Cashier’s of “Robinson’s Supermarkets” or “The Marketplace” when you could Deposit any amount without being charged at all. Nowadays, I hardly Deposit or use it anymore. I thought this Digital Bank could replace a traditional bank but I was wrong. What is the advantage of keeping a Digital Bank Account if you couldn’t Deposit big sums of money and have to Deposit these big sums of money via the traditional bank either over-the-counter or through their Cash Deposit Machines?
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Sarah says:

12 months ago

🌱 Noobs🏆1

Why there is a 50 pesos fee for deposits?
- Reply
Ramon Hicarte says:

12 months ago

🌱 Noobs🏆1

That idea is not good, but it’s up you,you are not yet as known as gcash which is even in Barrios are using it but you want much profit so I will not recommend you to anyone much more to my friends
- Reply