E-wallet provider GCash is set to implement a P5 convenience fee for cash-ins from major partners BPI and Union Bank in the fourth quarter.
Bankero, GCash President and CEO Martha Sazon stated that this fee, although among the lowest compared to traditional bank charges, is necessary to cover rising operational costs while ensuring continued affordability of its services.
Sazon encourages users to minimize fees by cashing in larger amounts less frequently, highlighting various options for cashing in with GCash, including bank linking, convenience stores, and more.
She also highlighted GCash’s commitment to subsidizing part of the operating costs to serve many Filipinos affordably.
