#GCash Transfer Payment

GCash has recently postponed the implementation of its bank transfer fees. As spotted on the GCash mobile app, it will start to charge the PHP15 additional bank transfer fee on November 1, 2020. The fee is applicable to all transactions transferring funds from GCash to other banks. The notification appears on the GCash app on the Bank Transfer tab under the Send Money tab. Previously, GCash issued a statement on bank transfer fees which charges select commercial banks that uses InstaPay network for transferring funds from GCash starting October 1, 2020. Those with linked BPI or UnionBank accounts to the GCash app are exempted from bank transfer transaction fees. GCash has reduced its InstaPay bank transfer fee from PHP 15 to PHP 10, effective July 4, making digital fund transfers more affordable for its users. The circular requires banks and financial service providers to ensure that the difference between interbank and intrabank transfer fees reflects only the actual cost of processing transactions through payment networks. Read more in our articles including "GCash postpones implementation of bank transfer fees to November 1" and "GCash cuts InstaPay bank transfer fee from PHP 15 to PHP 10".