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Recently, I got hooked using GCash mobile app.
GCash is an online digital wallet (e-wallet) in the Philippines that allows one to do financial transactions like bill payments (Meralco, Maynilad, etc), buy load, send and transfer money & more through a single mobile app.
Essentially, it turns your mobile phone into a virtual wallet. Using the GCash app, you can pay for items and send money at the speed of a text message. (You can make your own account here – Create Account with GCash).
I already had GCash for some time but not really using it extensively since most of the features offered by it (and same with other digital wallets like Coins.ph) can also be done via online banking.
But recently I found out that GCash also now allows inter-bank money transfer.
And the best thing is that the money transfer happens real-time! And it’s free!
Yes, you read it right!
That means if you have multiple accounts in different banks, it will only be a matter of clicks to transfer money between them. No more ATM withdrawal from one bank and then lining-up in branches (or Cash Deposit Machines) of a different bank to just deposit them.
How GCash Transfer to Bank Account works?
You simply have to “cash in” from one debit account and then “cash-out” to another bank account.
So if you are like me who maintained accounts in big banks (BDO, BPI, Metrobank and Security Bank and other debit MasterCard/Visa accounts) it will be a lot easier and efficient to manage your finances anytime and anywhere by using this app.
This lone feature is one game-changer for me that I use Gcash now a lot more often.
This is also extra-helpful for OFWs who send money via remittances.
The only requirement is that the Registration and use of the GCash App require Philippine SIM.
In this 2020 GCash Tips video, I did a walkthrough of all other features available in this G-cash app, but below lists a summary of what it offers.
- GCash QR: Scan GCash partner merchant QR codes to pay with your GCash App directly. Easy, convenient, and no cash needed!
- Buy Load: Purchase load for anyone on any network, anytime you need!
- Send Money: Transfer funds to your loved ones anywhere in the Philippines without spending a cent on service fees.
- Pay Bills: Skip the long lines when you settle your bills with GCash anytime, anywhere!
- Shop Online: Splurge in your favorite international shopping, gaming, and entertainment sites without a physical card, with GCash American Express Virtual Pay – a virtual card linked to your GCash mobile wallet.
- Withdraw from PayPal: Link your PayPal account to GCash and transfer your PayPal funds for free.
- Book movies: Reserve your movie seats directly within the GCash App! No need to go to other online sites or fall in long lines!
- Borrow load: Get load even without GCash. Pay later when you cash-in to your GCash wallet!
- Cash-in from banks: Move funds from your BPI or RCBC bank account to your GCash – a more convenient way of cashing in!
- Receive remittances from MoneyGram and Western Union: Just key in your reference number and automatically receive your remittance without going to physical branches!
- GCredit and GScore: The more frequent you use GCash, the higher your GScore is! If you a high GScore, you can get credit starting at PHP 3,000!
- GInvest: Invest in your preferred investment fund using your GCash!
You can create your own GCash account here – Create Account with GCash.
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