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April 12, 2024

Free ain’t forever: BPI to charge P10 fee for GCash transfers

Starting March 1, 2024, clients of the Bank of the Philippine Islands (BPI) will be charged P10 for transferring funds to GCash accounts.

The charge marks an end to the free transfers enjoyed by BPI clients. The bank and GCash are both owned by the Ayalas.

BPI “preferred” clients who have a balance of P1 million or higher in their accounts can continue availing of free GCash fund transfers.

Clients of the Ayala-owned lender will be charged P5 if they cash in from GCash.

Meanwhile, transfers to the rival Maya app under Manny Pangilinan’s MVP Group remains free of charge.