#GCash update

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 updated fee now applies to every InstaPay transaction made through the GCash app. While there is no minimum transfer amount, each transaction is still subject to a maximum limit of PHP 50,000, based on the app's updated Terms and Conditions. GCash's policies for transfers between GCash users remain unchanged. Prior to GCash's announcement, Rizal Commercial Banking Corporation (RCBC) also confirmed that it would waive InstaPay transfer fees beginning July 4. The latest adjustment adds GCash to the growing list of financial service providers lowering digital transfer costs following the BSP's updated policy. Maya said the update is part of its efforts to make digital money transfers simpler. According to PalawanPay's FAQs, users must have an active PalawanPay Visa Virtual Card, an Android phone with NFC support, an updated Google Wallet app, and a screen lock such as a PIN, password, fingerprint, or face unlock. Read more in our articles including "GCash cuts InstaPay bank transfer fee from PHP 15 to PHP 10" and "Maya lowers InstaPay transfer fee to PHP 10".