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GCash to charge convenience fees for BPI, Unionbank cash-ins from October

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ABS-CBN News

<p>MANILA — GCash will start charging a P5 convenience fee for cash-in transactions made through Bank of the Philippine Islands (BPI) and UnionBank in October.</p><p>In a statement, the mobile wallet said the fee was still “much lower” than the P25 that banks and other financial institutions usually charge for cash transfers.</p><p>Gcash said the fee would cover the rising operating costs of its partners. </p><p>“The P5 convenience fee is only 1/5 of what is normally charged by other financial institutions,&quot; GCash President and chief executive officer Martha Sazon noted.</p><p>&quot;Even with this fee, we will continue to subsidize part of the operating cost for cash-ins as we remain committed to keeping our services accessible to many Filipinos,” she stressed.</p><p>Cash-in via linked bank accounts is one way to add funds to a GCash account. Over-the-counter cash-in is also available through machines, partner convenience stores, pawnshops, supermarkets, department stores, drug stores, gas stations, sari-sari stores and retail stores, among others.</p><p>Earlier this month, GCash said it was waiving QRPH transaction fees for &quot;micro-merchants&quot; such as sari-sari store owners, public market vendors and small online sellers. </p><ul class="op-related-articles">	<li><a href="https://news.abs-cbn.com/business/08/23/23/gcash-waives-qr-fees-for-sari-sari-small-vendors-online-sellers">GCash waives QR fees for sari-sari, small vendors, online sellers</a></li></ul><p>The Ayala-led fintech said fees for micro-merchants who use the scan-to-pay service, would be waived until the end-of-2023.</p><div><strong> RELATED STORY:</strong></div><figure class="op-interactive"><iframe height="315" src="https://www.youtube.com/embed/f9sNgs4z5Ts?enablejsapi=1" width="560"></iframe></figure><div class="iwantbar">Watch more News on <a href="https://www.iwanttfc.com/#!/browse/Genres/News/tag_id_genres/id_news" target="_blank">iWantTFC</a></div>

GCash will start charging a P5 convenience fee for cash-ins made through BPI and UnionBank in October. 