• GCash launches Fund Transfer service


      GCash launched its Fund Transfer service. Users can transfer funds to over 30 banks. With this new feature, customers can save the time consumed from falling in line in banks. It is also more cost-efficient as it allows free fund transfers.


      With GCash’s fund transfer feature, time spent reduces to zero. It takes less than three minutes to complete a transfer transaction digitally. This feature also eliminates paper wastes. Philippine fund transfer services have traditional paper processes. The industry
      also charges different fees when transferring funds. The amount depends on the percentage of money that the customer is transferring. However, fund transfers are essential in the Philippine financial ecosystem. People send money for family needs, bills payments, and personal indulgences.


      Customers can use this feature with no fuss. All they need is a smartphone, funds in their GCash account, and the bank details of the account they want to transfer funds to.



      To be a verified user, customers need to submit identification requirements. This is as simple as taking a selfie with your ID.


      GCash uses the InstaPay platform initiated by the Bangko Sentral ng Pilipinas. The BSP aims to have 20% of its financial transactions to be made electronically by 2020. It is an Electronic Fund Transfer (EFT) service. It allows customers to transfer funds
      between participating BSP-supervised banks. Customers can also transfer funds between non-bank e-money issuers in the country. In the last quarter of 2019, customers can use GCash as payment for AliPay. Payments are based on real-time exchange rates.

      To get a GCash account, download the GCash App. It is available on the App Store and Google Play. Customers can also look for @gcashofficial on Messenger and sign up.

      GCash has over 16,000 partner outlets nationwide. To fund a GCash account, users can visit 7-Eleven, SM Business Centers, Robinsons Business Centers, Puregold branches, and Villarica Pawnshop branches.

      The Send Money to Bank feature allows you to transfer funds from your GCash wallet to your selected bank accounts without the hassle of lining up for hours.

      To view the list of available banks on the GCash App, tap on 'Bank Transfer' on the dashboard. Then choose your preferred bank from the list. List of Available Banks (Bank Transfer) - https://help.gcash.com/hc/en-us/arti...Bank-Transfer-

      For more information, visit GCash’s social media pages on Facebook, Instagram, and Twitter @gcashofficial.
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      Comments 3 Comments
      1. RoyFollman's Avatar
        RoyFollman -
        Wow, that sounds really cool and it seems to me that this is a very promising application and I hope that the developers understand that such applications should have maximum protection of personal data. I just came across various similar applications and they were very cool, but there was no protection of confidential data. In general, one of the most secure banking systems is the banking system of India. Thanks to the introduction of IFSC code, there is almost no banking fraud. However, the problem is that this interferes with comfort during banking operations. For example, once I had to complete a transaction and send 20,000 rupees to my partner, but I forgot this stupid code and if I could not find it in the database at https://myifsccode.com/, then I would not be able to complete the transaction.
      1. MikeTruck's Avatar
        MikeTruck -
        Quote Originally Posted by RoyFollman View Post
        Wow, that sounds really cool and it seems to me that this is a very promising application and I hope that the developers understand that such applications should have maximum protection of personal data. I just came across various similar applications and they were very cool, but there was no protection of confidential data. In general, one of the most secure banking systems is the banking system of India. Thanks to the introduction of IFSC code, there is almost no banking fraud. However, the problem is that this interferes with comfort during banking operations. For example, once I had to complete a transaction and send 20,000 rupees to my partner, but I forgot this stupid code and if I could not find it in the database at https://myifsccode.com/, then I would not be able to complete the transaction.
        Better take a look on the back of the checkbook, there should be the number you are looking for.
      1. MikeTruck's Avatar
        MikeTruck -
        Quote Originally Posted by RoyFollman View Post
        Wow, that sounds really cool and it seems to me that this is a very promising application and I hope that the developers understand that such applications should have maximum protection of personal data. I just came across various similar applications and they were very cool, but there was no protection of confidential data. In general, one of the most secure banking systems is the banking system of India. Thanks to the introduction of IFSC code, there is almost no banking fraud. However, the problem is that this interferes with comfort during banking operations. For example, once I had to complete a transaction and send 20,000 rupees to my partner, but I forgot this stupid code and if I could not find it in the database at https://myifsccode.com/, then I would not be able to complete the transaction.
        Better take a look on the back of the checkbook, there should be the code you need.

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