(Editor's Note. On Sept. 30, 2020, after this story was published GCash said transfer fees were moved to Nov. 1 instead of Oct. 1 as earlier announced)
(UPDATE) If you transfer money from your GCash wallet to banks and electronic money institutions via the InstaPay network, you will be charged P15 per transaction starting Oct. 1, GCash said Saturday.
Banks, on the other hand, will also begin charging customers for tranfering money to GCash from Oct. 1. The amount varies, and can be as high as P50, said GCash in a statement sent to reportr.
UPDATE: PayMaya and BPI Too, Why Are Transfer Fees All Coming Back on Oct. 1?
Two banks, BPI and Unionbank, will continue offering free transfers from their respective platforms to GCash, the e-wallet platform said. BPI and GCash are both under the Ayala Group.
These transactions will remain free of charge: GCash-to-Gcash transfers, bills payment, and load purchases.
InstaPay as an inter-bank facility overseen by the Bankgo Sentral ng Pilipinas that allows nearly instantenous transfers electronically.
