Due to the rising costs, GCash, a fintech company led by Ayala, will soon implement a minimal fee for cash-in transactions using linked bank accounts on its application.
Gcash has updated its Help Center and will start charging P5.00 for every Cash In transaction starting October 2, 2023.
The bank fee is applicable to accounts linked to Gcash from BPI and UnionBank.
But Gcash said cashing in will remain free in all over-the-counter outlets up to a monthly limit of PHP 8,000.
Meanwhile, charges for bank transfer via InstaPay will be subject to the transaction fee imposed by the originating bank.
