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Finance Life Hacks

How to Cash in GCash For Free

How to Cash in GCash For Free - Life Guide PH

GCash is the leading fintech company in the Philippines. There are 60 million users of GCash in the Philippines who are now using it in their daily transactions from sending payments, cashless transactions, receiving remittances from overseas, buying load, banker transfer, paying bills, digital banking with GSave, purchasing insurance with GInsure, investing with GInvest and even credit line GCredit. GCash has a lot to offer to make the lives of Filipinos more convenient and cost-efficient.  

Is there a way to cash in for free with Gcash?

Last 2020, Gcash updated their cash in the policy and there are now charges and transaction fees depending on what service you are going to use. But hey, we got you! We have found a workaround so you can still cash in for FREE.

You have to link your BPI account to your GCash:

  1. Go to the GCash app
  2. Choose Cash In
  3. Select Manage from My Linked Accounts
  4. Tap on BPI and provide your Bank Account details
  5. Once your BPI account is successfully linked, you can experience free real-time cash-in at any time.

To Cash In from BPI to GCash

  1. Go to the GCash app
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2. Select Cash In and select BPI

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  1. Enter the amount and tap confirm the amount
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4. You will receive an OTP that you need to enter and after it is successful you will receive a message from GCash about your updated balance. 

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To Cash In from Unionbank to GCash

  1. Go to the GCash app
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2. Select Cash In and select Unionbank

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3. Enter the amount and tap confirm the amount

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4. You will receive an OTP that you need to enter and after it is successful you will receive a message from GCash about your updated balance. 

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Fees are subject to change at the discretion of GCash. For more questions and information, you may visit their website GCash, call their hotline via 2882, or you may also submit a ticket to the help center via the GCash app.

Categories
Finance Life Hacks

How to Automate Bank Transfer in the Philippines

Have you heard that you can automate your bank transfer?

There are two banks in the Philippines that are offering automated transfers but they usually call them as scheduled transfers. We tried and test it with BPI and Unionbank. It’s only P10 with BPI and free with Unionbank with PesoNet.

This feature is a lifesaver so you won’t need to redo this every payday to make sure you are putting money into your savings account and emergency fund. Automating this task so you can do this once and it can save you time in the future.

Here are the steps:

BPI Scheduled Transaction

1. Log in to your BPI account

How to Automate Bank Transfer in the Philippines - Life Guide PH

2. On the left side select other services.

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3. Under transactions, choose managed scheduled transactions and create scheduled transactions: transfer money.

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4. You will be shown three (6) fields that you need to fill out:

  • Transfer from: (select the account)
  • Transfer amount
  • Transfer to: (transfer to own or 3rd party)
  • Frequency: (one time, monthly, quarterly)
  • Start date:
  • Number of transfer
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NOTE: This is a real time fund transfer.

Unionbank Scheduled Transfer

  1. Log in to your Unionbank account
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2. On your dashboard tap to send money.

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3. Choose the type of bank and send money via PesoNet (cut off):

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4. You need to fill out:

  • Bank Name (choose from the list of banks available)
  • Bank Account Number (type-in your account number *not the card number*
  • Bank Account Name
  • Amount
  • Date
  • Repeat and Frequency: (daily, weekly, every 2 weeks, monthly, quarterly, semi-annually, annually)
  • End date: (never or select a particular date)
  • Purpose
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5. Tap on transfer

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NOTE: Unionbank offers free fund transfers and same day crediting before 3PM on banking days with Pesonet. Transactions done after 3PM or on weekends or holidays will be processed on the next banking day.

Categories
Finance Life Hacks

How to Transfer Money for Free in the Philippines

Most online bank transactions have convenience fees now. Sometimes you need to be mindful of how you spend your money. There are times that a small amount could accumulate into a big expense. Lucky for us there are still free bank transfers in the Philippines.

Example:

You have 6 online transfers every week for your grocery, deliveries, and others paying a convenience fee of P10 per transaction depending on your bank’s Instapay and Pesonet fees.

Let us, calculate it:

Here’s a way how you can skip the bank fees every time you transfer money.

1. Banks

As of June 2022, here are the list of banks with waived INSTAPAY and PESONET fees

INSTAPAY

  • Equicom Savings Bank (retail clients)
  • Rural Bank of Guinobatan
  • ING Bank, N.V.

PESONET

  • Equicom Savings Bank (retail clients)
  • Rural Bank of Guinobatan
  • Bank of China
  • CIMB Bank Philippines
  • East West Bank
  • HSBC (retail clients)
  • ING Bank, N.V.
  • Philippine Business Bank, Inc.
  • Tonik Digital Bank, Inc.
  • Union Bank (retail clients)

2. Shopeepay

How to Transfer Money for Free in the Philippines - Life Guide PH

Shopee is now offering bank transfers in their Shopeepay via PESONET for free. Usually, it takes 1 or 2 working days for the amount to be credited to the nominated bank account.