GCash to charge a 2.58% fee per cash-in via credit card starting July 6

GCash account holders threaten to boycott the widely-used mobile wallet when it announced to charge a 2.58% convenience fee for each cash-in via Visa/Mastercard bank transactions starting this July 6, 2020. This applies to every cash-in, regardless of amount.

For instance, an account holder cashes-in P100 to his GCash wallet, with a convenience fee of P2.58, that would bring a total charge of P102.58 to his card. Although GCash emphasized that this change is due to the direct charges from their payment partners, netizens still claim that it is unfair.

One netizen expressed her dismay on the issue, “I’m okay with charging convenience fee but I think the 2.5% is too high. So, If I cash in P20k, that’s already P516. Better if they will charge fixed amount.”

However, GCash clarified, that they still provide FREE cash-in methods and that is cash-in via BPI or Union Bank accounts or through a bank app of website powered by Instapay.

“We would like to assure that GCash does not earn a single centavo from the direct charges implemented by our payment partners,”      

– Martha Sazon, GCash president

“Even with this soon-to-be implemented minimal charges, GCash will continue to provde the best-in-class services that Filipinos have come to love over the past decade”,

For more information, kindly visit the GCash website or click the link: https://www.gcash.com/

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