BPI to GCash transfer fee will increase to PHP 10 starting March 1, 2024. Transfers to other e-wallets like Maya and Vybe are still free of charge.
On February 26, 2024, BPI (Bank of the Philippine Islands) announced via its Facebook page that beginning March 1, 2024, loading GCash through the "Load e-Wallet" feature on the BPI app and BPI online (https://ift.tt/o49rZ8O) will be charged a PHP 10 fee, which is double compared to the current transfer fee of PHP 5.
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Along with the announcement regarding the increase of the BPI to GCash transfer fee, BPI provided an updated list of e-wallets and corresponding fees. BPI noted that the new charges will only apply to loading GCash. The cost of loading other services via the BPI app will not be affected by this change.
- E-wallet - Transaction fee
- GCash - Php 10 (effective March 1, 2024)
- Maya - No fee
- Vybe (BPI-owned) - No fee
- Transportation - Transaction fee
- AutoSweep - Php 13
- Easytrip - Php 15 (deducted from load amount)
- Other Services - Transaction fee
- Beep - Php 10
- GetGo - Php 10
- Dibz Pay - No fee
According to BPI, the Php 10 fee is the convenience fee for every load e-wallet transaction from BPI to GCash via ECPay starting March 1, 2024. It added that this Php 10 fee is only applicable to load e-wallet transactions to GCash via the Pay/Load tab on the BPI app.
Although both BPI and GCash are parts of the Ayala Group of companies, BPI offers its own e-wallet app known as Vybe. The BPI to Vybe transfer fee is not affected by the change.
Strangely, it's still free to send money from BPI to Maya, GCash's major rival. Maya (formerly PayMaya) is owned by telco giant PLDT, which is in direct competition with Globe Telecom (led by Ayala and the owner of GCash).
To recall, BPI's Load e-Wallet service was previously free of charge; however, GCash stated on October 2, 2023, that a PHP 5 cash-in fee would be implemented for all linked accounts. GCash even stated that BPI is collecting the fees.
At this point, it would appear that there is no way to avoid paying transfer fees, regardless of whether you cash in using the GCash app or transfer using the BPI's Load e-Wallet function.
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