Banks are now charging fees when cashing into GCash nowadays. Gone is the free “cash in” to GCash offered by some banks like BPI.
Fret not, there are ways to cash into GCash without incurring any fees.
How to cash into GCash without any fees?
Option 1: Use banks that offer free transfers
Yep, some banks do offer free transfers, including transferring money into GCash. Here are some good options:
- GoTyme – 3 free bank transfers per week
- SeaBank – maximum of 15 free transfers per week
- CIMB – unlimited transfers
Option 2: Utilize ShopeePay
The problem with Option 1 is that since those are digital banks, the only way to deposit money into them is for you to do a bank transfer from a commercial bank. And that will incur a transaction fee.
So here’s a lifehack you can use:
- Cash into ShopeePay
- Send the money from ShopeePay to SeaBank
- Transfer the money from SeaBank to GCash
For step 1, linked BPI/UnionBank accounts will not incur a “cash in” fee. You can also use InstaPay to cash into ShopeePay and the transaction fee will be refunded instantly.
Both Steps 2 and 3 will not incur a transaction fee (not unless you’ve maxed out the maximum 15 free transfers of SeaBank per week).
Option 3: Deposit to GoTyme, then transfer to GCash
GoTyme offers 2 free deposits each month when you use the following:
- BPI
- Chinabank
- RCBC
- UnionBank
So for this life hack to work, just deposit money to your GoTyme account using any of the above-mentioned banks. Once done, transfer the amount from GoTyme to GCash.
And those are the available options that I am aware of that will allow you to avoid any fees when cashing into GCash. If you have other ideas, feel free to leave a comment below.