The Bangko Sentral ng Pilipinas (BSP) said it was working to restore access to GCash’s GSave savings service through Bank of the Philippine Islands (BPI) and Maybank, as the e-wallet’s parent Mynt debuted on the Philippine Stock Exchange following a record ₱60.9 billion initial public offering.
The central bank said the disruption was limited to GSave connectivity with the two banks, with customers still able to access their deposits directly through BPI and Maybank’s respective apps.
“Only the GSave facility is affected. This means customers should still be able to access their funds directly through BPI and Maybank’s respective apps. GCash accounts likewise remain accessible,” the BSP said.
The regulator said it was coordinating with the institutions to restore connectivity as soon as possible and ensure customers received instructions on accessing their funds.
GSave allows GCash users to open and manage interest-bearing savings accounts with partner institutions, including BPI, Maybank, CIMB, UNO Digital Bank and Cebuana Lhuillier Rural Bank.
The BSP’s statement drew complaints from UNO Digital Bank customers who said they remained unable to access their funds following the lender’s October 11 app shutdown.
“UNO Digital Bank is still unaccessible for many of us,” a customer identified as RL Lu wrote on social media.
Another user, Bruce Lim, criticized the regulator for not addressing complaints involving UNO Bank, saying customers continued to report inaccessible funds.
The disruptions coincided with Mynt’s stock market debut following the Philippines’ largest IPO, marked by President Ferdinand Marcos Jr. ringing the ceremonial bell at the exchange.
The BSP did not give a timeline for restoring GSave connectivity with BPI and Maybank.
