If there is one thing that this COVID-19 pandemic has taught us,it’s the importance of eWallet platforms like GCash. With cashless and contact-free transactions, a number of us manage to pay bills and shop for various things without bringing out physical cash.
We’ve been GCash users since the pandemic started, and we’ve picked up a few hacks here and there that allow you to do more with the platform than what you’d expect. Here are a few hacks that you should know to make yourself a GCash pro user. Take note that these things may be subject to change depending on one when you read this article, so keep that in mind.
- Link your BPI or Union Bank account for transaction-free bank transfers. Starting November 1, GCash and other eWallet platforms will be charging a fee for bank transfers. With GCash, it’s a flat Php 15 per transaction, which isn’t too bad considering that some banks are projected to charge around Php 50. Aside from the waived transaction fees, linking your BPI or Union Bank account also increases your GCash’s wallet limit to Php 500,000.
- Link Paypal or Payoneer for easy management of foreign transactions. If your work gigs involve dealing with foreign clients, you can make your life easier by linking your PayPal or Payoneer account to your GCash account. By linking both to your GCash account, you can easily retrieve your hard-earned money from your foreign gigs, saving you additional processes and transfer fees ESPECIALLY if your bank is BPI or Union Bank.
- Create your own GSave savings account using CIMB Bank’s platform. Looking for another channel to allocate your savings? You can create a GSave account using CIMB’s ecosystem so that you have your own digital savings account that earns interest over time. Aside from having as high as 3.10% annual interest rate, having digital savings accounts means you can deposit and withdraw your money anytime without worrying about any maintaining balance.
- Invest in UITFs via ATRAM. Yes, GCash does offer you the ability to make your money grow by investing some of your GCash credits into UITFs from ATRAM. Currently, GCash offers ATRAM’s Money Market Fund, where you can invest as low a Php 50 and see your money grow in the long term. Unlike stocks—that are classified as high-risk investments, Money Market is considered a low-risk investment, making it ideal for those who want to learn investment basics.
- Link your Lazada and Google Play accounts for ease of transactions. Because we all know how dangerous is using your credit card to both (admit it—they are both a rabbit hole especially during this pandemic), linking your GCash instead helps you manage your spending. It is also convenient, as it saves you the hassle of inputting your credit card’s CVV every time you intend to make a purchase.
- Ramp up your GScore to gain access to GCredit. The more you use your GCash account (be it for paying bills or other transactions), the higher your GScore is. Once you reach a certain threshold, you get to unlock GCredit—it is GCash’s loan service where you can borrow money (the maximum amount is Php 10k for starter accounts) and pay back the money you borrowed with 5% interest. GCredit is a handy feature especially in times where you need to make an emergency purchase.
- Use KKB for easier collection of group payments. Once it’s safe to go out and be with your friends and loved ones again, you’ll be able to make the collection of group payments more convenient with GCash’s KKB feature. As long as your friends and loved ones have a GCash account, you can designate how the bill will be split during get-togethers—all done through the app!
- Use GCash to buy gaming pins and vouchers for Apple Store and Google Play. Want to level up your gaming but hesitate to whip out that credit card for in-app purchases? GCash lets you purchase game credits for popular games like Roblox, Minecraft, Mobile Legends, PUBG Mobile, and many more! On top of that, you can even buy credits for iTunes Store and Google Play in case you want to buy content from either platform.
With all these hacks, you should be a GCash pro user by then, where you can practically do everything within the Fintech Platform! Are there other GCash hacks we haven’t tackled in this article? Let us know in the comments section!