GCash announced that starting July 6, 2020, a convenience fee of 2.58% will be charged for cash-in via MasterCard and Visa. According to GCash, this is due to direct charges from their payment partners, who will be paid directly for their services.
The convenience fee will be computed and reflected on your GCash app for each cash-in via bank card transaction. For instance, if a customer cashes in Php 100 on his GCash wallet, the customer will be charged a 2.58% convenience fee, which is equivalent to Php 2.58, making the total amount of cash-in that will be charged to the card Php 102.58.
| cash-in Amount | PHP 100 |
| Convenience Fee | 2.58% |
| Convenience Fee Charged | PHP 2.58 |
| Total Charge to Your Bank Card | PHP 102.58 |
GCash stressed that the fee is lower than other mobile wallets which charge a flat rate of Php 30 for cash-in transactions below Php 1,000.
Related Article: How to send funds from GCash to your Paymaya Account
GCash also said that it still provides other cash-in options that are free such as cash-in via linked BPI or UnionBank accounts or you may also cash-in with your respective bank’s app/website via InstaPay as most bank’s InstaPay service remains free until further notice.
GCash account holders who cash in via MasterCard/Visa can check their transaction history via their GCash app or may download their transaction history through their nominated email address.
Related Article: Preventing the spread of COVID-19 through GCash Pay Bills
Leave a comment down below and share your thoughts with us!
Want more features like this? Please follow us on Facebook, Twitter, and Instagram for the latest trends.
