#GCash brank transfer fees

GCash has recently released its statement regarding the resumption of fees on bank transfer transactions. Starting October 1, 2020, select commercial banks and Electronic Money Institutions (EMIs) using the InstaPay network will start charging a transaction fee when doing a fund transfer (cash-in transaction) to GCash. However, linked BPI or UnionBank accounts to the GCash app are exempted from bank transfer transaction fees, making fund transfers free of charge. GCash, meanwhile, will charge PHP 15.00 per fund transfer (cash out transaction) to a bank or EMI using the InstaPay network from October 1, 2020. Other GCash services, including Pay Bills and Buy Load, also remain free from fees. Previously, we reported that GCash and PayMaya will resume its fees for bank transfer transactions. GCash has announced a temporary waiver of transaction fees for overseas Filipino workers (OFWs) in several Middle East countries. Under the initiative, users can receive a full refund of service fees for selected GCash app services, including bank transfers to Philippine banks, mobile load purchases, and bill payments for Philippine-based billers. Read more in our articles including "GCash issues statement on bank transfer fees" and "GCash waives transaction fees for OFWs in Middle East".