Good news to all GCash subscribers! Cash in to your GCash wallet account for free starting August 1, 2012. Remember, it is only free if you will deposit funds into your own account. If you will remit money to other GCash subscriber, you will be required to pay the transaction fee. Also, starting August 1, all GCash outlets (Globe Wireless Center, SM Department Store, Local Pawnshops, Local Stores etc.) will be required to follow the new pricing guideline (See image below). This is a great move for Globe. If you are aware, not all GCash outlets have the same rate. Now that GCash will implement a new guideline for the service fees, you can ensure that you will pay just the right amount.
Will I pay more comes August 1? The answer depends on the outlet that you’re usually doing GCash transactions. Currently, GCash outlets have their own service rates. They are charging fees ranging from 1% to 5%. Let’s take this as an example. Let’s say you will deposit PHP1000.00 to a friend’s Gcash wallet and the outlet charges 5% service fee. The total amount that you will pay including the fee is PHP1050.00. Comes August 21, the fee would only be PHP20.00 so you’ll save PHP30.00. If the outlet charges only 1% of the total amount, you will pay PHP1010.00 in total. The new service fee for cash-in transactions will be applied in cash-out transactions also.
A new service rate will be applied for sending money using your phone. Currently, you can send money free of charge and pay just the PHP2.50 airtime fee. Comes August 1, you will be charged an additional fee based on the total amount you’re sending. For example, you will send PHP5000.00 to a friend’s GCash wallet, there will be an additional PHP50.00 charge. The fee will be debited from your GCash wallet and not airtime balance. This has a big impact to those who always transfer funds. If you’re an online seller who keeps on receiving payments, then you’re safe from the required fees unless you cash out frequently.
Lastly, together with the new pricing guide, the standard PHP2.50 fee will no longer be charged on your airtime balance when doing GCash transactions on your phone like sending GCash, buying prepaid load, paying bills or tuition fees.
– 2/8/2013 Globe lowered down transaction fee for sending money through mobile phone. Click this link for details.