Heads up GCash Users: starting March 1, all cash-ins made via the BPI app (via the Load e-Wallet option) will be charged a Php 10 transaction fee. This is double the Php 5 cash-in fee that GCash charges if you top up using your linked BPI and Unionbank accounts.
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To be fair with BPI, other banks like BDO also impose a Php 10 transaction fee when transferring money to GCash. Because of this, it’s more practical to top-up via your linked BPI or Unionbank account in the GCash app since you’ll pay half the transaction fees as compared to topping up using other online banking accounts.
While the transaction fees do not have a minimum or maximum transaction, the BSP wants to waive transaction fees for payments that are under Php 1k. BSP Deputy Governor Mamerto Tangonan explained in an interview that since the Philippines is encouraging digital payments, removing transaction fees on micropayments will be a big help for all Filipinos.
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With the BPI app, it’s possible to transfer money from your BPI account to GCash without paying for any fees provided that 1) the transaction is under Php 1k, and 2) you use the Transfer to Another Bank option. Any GCash transfers above Php 1k will incur a Php 25 transaction fee.
As of writing this story, these are the other remaining methods of cashing in without any transaction fees:
- via over-the-counter outlets like Globe stores, Mercury Drug, Ministop, and Robinsons Supermarkets–as long as you don’t exceed a cash-in of Php 8,000 per month.
- via your linked Paypal account
