How to Avoid Paying Gcash-to-Bank Convenience Fees

How to Avoid Paying Gcash-to-Bank Convenience Fees | Since October, there is now a fee for Gcash-to-Bank transfers at P15. It’s a shame that we now have to pay a convenience fee, but it’s a small price most of us are willing to pay to avoid queues, exposure, and other hassles associated to going to your bank’s branch.

But if you’re a savvy consumer like me, you would probably find ways to save money and possibly bypass or circumvent the fee. Can it be done?

How to Have Bypass Gcash-to-Bank Transfer Fees?

There are some hacks on how to bypass or to circumvent fees, here are some tips and tricks we have found:

  • Hack 1 – Gcash to GSave (CIMB). CIMB to any bank transfer is free.
  • Hack 2 -Gcash via BPI and Unionbank cash in remain free, but bank transfer has a fee already.

Pls take note of other fees you may encounter:

ProductFee DescriptionFee Amount
Cash invia linked bank account in the GCash app (BPI and Unionbank)FREE
via bank’s mobile banking app. Fees depend on bank partners. View partner list here.Php0 to Php50
via remittance in the GCash app (Moneygram, WU)FREE
via Over-The-Counter outlets will have a fee once users exceed the monthly free limit of Php8,000. View fee breakdowns here.2%
Cash outvia Over-The-Counter outlets is charged with a withdrawal fee. View partner list here.2%
*Applies only to loaded amount beyond Php8,000 monthly
via ATM withdrawal fee
*First two withdrawals are free for enterprise accounts
Php20
via ATM Withdrawal fee (International)Php150
GCash MastercardOffline Card PurchasePhp150
Online Card Purchase. Order here now.
*Php65 delivery fee
Php215
GCreditThe interest charged for the total credit purchased within the billing period.3-5%
Penalty fee for users who have not paid their total amount due 1-30 days after its due date.Php200
Penalty fee for users who have not paid their total amount due 31-60 days after its due date.Php500
Penalty fee for users who have not paid their total amount due 61-90 days after its due date.Php900
Penalty fee for users who have not paid their total amount due 90 days onwards after its due date.Php1500
Pay BillsBillers with fixed fees
*Please refer to app for actual fees per biller
Php0 to Php60
Billers with percentage-based fees
*Please refer to app for actual fees per biller
2%
Send Moneyvia Express SendFREE
via Bank Transfer
*Fees effective starting November 1, 2020
Php15
via Send with a ClipFREE
via Ang PaoFREE
Request Moneyvia Request Money or KKBFREE
General AccountBalance Inquiry via ATMPhp3
Balance Inquiry via ATM (International)Php50
Dormancy feePhp50

Do you have other Gcash and personal finance hacks you want to share with us? We would love to know how you could save some money with your hacks!

Get to know more information on other Gcash products:

Also Read: Top Finance Apps in the Philippines


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