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GCash & PayMaya Bank Transactions Still Free of Charge Until End of October 2020

MONEY TRANSFER – The bank transactions via mobile wallet giants such as GCash and PayMaya will still be free of charge until October 31, 2020.

PayMaya announced in a statement that sending money using the app to other banks will remain free until next month. The mobile giant wants to let Filipino enjoy convenient financial transactions.

“To enable all Filipinos to continue availing of safe and convenient financial transactions, sending money from PayMaya to other banks and e-Wallets via InstaPay will continue to remain free until October 31, 2020,” PayMaya said.

Bank Transactions

Gcash also advised the users to link their BPI and Union Bank of the Philippines accounts to avoid paying fees during bank transfer. It also said that P15 fee will be charged to users per bank transactions starting November 1, 2020.

The two mobile wallet giants use InstaPay to allow users to send or deposit money. InstaPay and PESONet fees cost P15 to P50, which varies on the bank.

Bank Transactions

Here is the list of companies that waived fees for transactions until the end of October:

  • Asia United Bank Corporation
  • Bank of Commerce
  • Cebuana Lhuillier Rural Bank
  • China Bank Savings, Inc.
  • China Banking Corporation
  • CIMB Bank Philippines Ink.?Citibank (Free for individual clients)
  • CTBC Bank (Philippines) Corporation
  • DCPay (for retail clients)
  • Development Bank of the Philippines
  • East West Banking Corporation
  • Equicom Savings Bank, Inc.
  • Hongkong and Shanghai Banking Corporation (for retail, corporate clients)
  • HSBC Savings Bank (for retail, corporate clients)
  • ING Bank, N.V.
  • Land Bank of the Philippines
  • Maybank Philippines Inc. (for retail clients)
  • Metropolitan Bank and Trust Company
  • Philippine Bank of Communications
  • Philippine Business Bank
  • Philippine National Bank
  • Philippine Savings Bank
  • Philippine Veterans Bank
  • Rizal Commercial Banking Corporation
  • Robinsons Bank Corporation
  • Rural Bank of Guinobatan
  • Sterling Bank of Asia, Inc.
  • Union Bank of the Philippines
  • United Coconut Planters Bank

What can you say about this news update? Just feel free to leave your comments and reactions to this article.

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