GCash to start charging fees for bank transactions starting October 1

It was nice while it lasted, I guess.

GCash to start charging fees for bank transactions starting October 1
Last updated:

UPDATE (September 26, 2020): GCash has shed some light on this, taking to Facebook that it will charge a 15-peso transaction fee for each fund transfer (send to bank transaction). It holds that GCash-to-GCash sending remains free of charge. Fees are charged from the sender.

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After waiving its fees for months due to the COVID-19 pandemic, GCash—the massive e-wallet app beloved for its seamless, instantaneous transactions—looks like it’s ready to collect.

If you’ve tried to transfer funds recently with GCash, you’d have spotted the sneaky little note that they have added on there:

GCash to start charging fees for bank transactions starting October 1
Screenshot taken from the GCash App.

Though the date indicated in the note (October 1, 2020) is less than five days away at the time of writing, GCash has yet to make any announcement regarding it.

Apparently, things are in order for GCash to start charging for bank transfers and other transactions starting October 1st. Though, as aforementioned, GCash hasn’t yet clarified how much they are collecting from said transactions.

The convenience and no-brainer ease of using GCash is largely predicated on the fact that the transfers are free of charge. As the adage teaches: “All good things must come to an end.”

That being said, other financial services and platforms like InstaPay and PesoNet have waived their fees until the end of 2020.