How to Use GCash in the Philippines
The Philippines is a severely underbanked nation. Out of the total population of 105 million, nearly 53 million, approximately 77% of the adult population, is still unbanked. The primary reasons for the abysmally low banking penetration levels are the uneven distribution of banking infrastructure and the documentation requirements for opening a banking account.
Banks are not keen on opening up their branches in remote rural areas due to the high operational costs and viability concerns. Banking regulatory bodies mandate that each account should be Know Your Customer (KYC) compliant.
It necessitates the customer to furnish a set of documents such as a birth certificate, identity cards, or a slew of other papers to make their account active. For many, these are some of the valid reasons for not opening a bank account.
When a financial emergency strikes, this unbanked population draws money from individuals, often at a higher rate than banks, which leads to debts. Even for those with a bank account, the long queues and the physical exertion of traveling to a distant location are a daunting task. It can cost them workdays and income as well. In such a situation, fintech solutions are a bliss both for the banks and for the customers. They relieve the banks from the vast expenditure on setting up branches across the country.
On the other side, it enables a customer to perform banking operations at any time from anywhere using his smartphone without leaving his comforts. With an Internet penetration level of 70% and 73 million users, the Philippines constitute the perfect ecosystem for any fintech solutions to nurture. GCash, with an expanding user base of 20 million, is a prime example of it.
What is GCash?
GCash is a mobile wallet app. Like any other eWallets, it enables the user to perform digital transactions such as bill payment, mobile recharge, online purchases, or money transfer in an easy and stress-free way. GCash strictly adheres to Bangko Sentral ng Pilipinas (BSP) guidelines and it assures a secure and robust platform for all transactions.
How to Register to GCash?
The very first step in configuring a GCash wallet system is creating an account with the system.
There are four ways to set up a GCash account:
- Access the registration link on www.GCash.com and submit your mobile number;
- Enter the 6 digit verification code received through SMS and proceed with the registration process;
- Fill out the GCash registration form with accurate information such as full name, birthday, home address, and email address;
- Set a 4 digit MPIN or Mobile PIN for your account;
- Scan the QR code displayed on the screen using your mobile phone and download the GCash Mobile App;
- You should be able to access the GCash Wallet using the mobile phone and the MPIN.
Registration through GCash App
- Download the official GCash App from Play Store or App Store;
- Enter your mobile number and verify your mobile number by entering the 6 digit verification code when prompted;
- Accept the terms and conditions. Fill the registration form with the necessary personal information such as name, birthday, residential address, and email ID;
- Set a 4 digit Mobile PIN or MPIN to use as a password to access your GCash account.
GCash Registration via the *143# Menu.
- Dial *143# on your mobile phone and choose the number corresponding to GCash;
- Select the number for register and choose your 4 digit MPIN;
- Provide the necessary personal information such as name, birth year, and address to complete the registration process;
- After that, you will get a confirmation message about the registration completion.
GCash Registration via Messenger
- Log in to your account in the FB messenger and search for @GCashofficial;
- Click on “Start an Account” and provide your mobile number when prompted;
- Read and accept the terms and conditions;
- After that, you will get a verification code to complete the account linking process;
- After the account setup, you can set a 4 digit MPIN by taping the “Create PIN” option;
- The system will send you confirmation about the successful configuration of MPIN, and you can start using it.
You can’t start using the wallet immediately after registration. The account has to be verified first to make any transactions. It can be roughly compared with the KYC process in a conventional banking system, but it’s much easier here.
There are three levels of GCash account verification: basic, semi-verified, and fully verified accounts.
Only fully verified accounts enjoy all the features. The steps to achieve it with your GCash login are the following:
- Login to your GCash account and select the option “Verify Now”;
- Tap “Get Fully Verified” and choose a valid ID from the list;
- Take a clear photo of the ID mentioned using your mobile phone;
- Click “Next” and take a clear selfie;
- Fill in the necessary data and submit;
- You will get a GCash Account Verification confirmation mail within 30 minutes.
Alternatively, you can perform the GCash account verification from your nearest Globe Store or any GCash Partner Outlet, GPO, as well.
Can I use GCash outside Philippines?Your GCash Mastercard is accepted worldwide in places that accept Mastercard. You can withdraw your GCash Mastercard at an ATM that accepts Mastercard in any country.
Can I send money to GCash without account?Yes, it is possible. The transfer scheme is the same as sending money to another GCash user. Your recipient will receive a notification via SMS.
Is GCash safe?Yes, GCash is safe. The company is completely legal and cares about customer safety. However, you should always follow the security reminders to minimize any risk of losing money.
How to Load Your GCash Wallet?
Before making transactions, we have to load the wallet with money. One can add money to his cash wallet by using the GCash App’s payment options or transferring funds through online banking. To do this, you need to know how to use GCash App.
Those without a bank account can preload the wallet by making Over-the-Counter payments at GCash Partner Outlets such as Globe Stores, SM Business Center, Villarica Pawnshop, and 7-Eleven Cliqq Kiosks. OFWs can top up the GCash wallets of their dear ones by remittance through GCash partners such as MoneyGram or Western Union. Cashing-in through linked partner bank accounts such as BPI or UnionBank is free. For others, there can be service charges.
Loading your GCash wallet through bank cards such as MasterCard or Visa can incur a service charge of 2.58%. Even though top-up using the over the counter facility of GCash partners is free, it has a monthly limit of PHP 8,000. For payments exceeding this, the user has to pay 2% as a service fee.
How to Pay Your Bills with GCash?
One can access the GCash Wallet and start paying by accessing the app using the MPIN.
GCash offers a simple interface to manage multiple billers. A customer can pay the bills by tapping the “Pay Bills” option, select the corresponding biller and furnish the necessary details. The system will complete the process within a few seconds. GCash wallets can be of great help during online shopping. But sometimes, the store might not accept GCash; they allow only debit or credit card payments instead. In such cases, you can link your existing debit card with the GCash wallet and use it.
Similarly, you can get a GCash MasterCard linked to your GCash wallet and know how to use the GCash MasterCard as a debit card or a prepaid credit card. Linking your account with PayPal to GCash or American Express virtual pay will enable you to make international purchases effortlessly.
The majority of the shops in the Philippines now accept GCash payments. There is no need to carry cash now, and what you need is just scan the QR code displayed on the cash counter and enter the amount. The amount will get credited to the merchant’s accounts instantaneously. The service fee for bill payments varies between PHP 5 to PHP 15. For money transfer, the charge will be 2% of the money transferred, except between GCash accounts.
You can withdraw the money directly from your wallet using GCash MasterCard in any ATMs that accept MasterCard. A charge of PHP 20 will be leveled for all such withdrawals. Those without a GCash MasterCard can transfer the funds to a bank account and withdraw it using the debit card. If you don’t have a bank account or GCash Mastercard, you can go to any GCash Partner outlets and withdraw money. Such Over the Counter cash withdrawals will have a charge of PHP 20 for every transaction of PHP 1,000.
Cash-out through banks, except for BPI or Union Bank accounts, will attract a service fee of PHP 15 for every transaction.
GCash Hotline and Customer Service
GCash offers around-the-clock support. Anyone can raise their concerns by opening a ticket at their help desk or contacting the GCash hotline at 2882.Apply now
Frequently Asked Questions about GCash
- How to use GCash credit?
With each transaction using GCash, you get some GScore points. When the GScore reaches a threshold, you will become eligible for credits, up to PHP 30,000, known as GCredits. It allows one to make payments, even if there is no fund in the wallet.
The payment process is identical, but you need to ensure that you choose “GCredit” as the payment method instead of the regular “GCash.”
- How to use a GCash voucher?
Sometimes merchants offer GCash vouchers, and you can use them by merely activating the voucher during the checkout process.
- How to use a GCash card?
One can use GCash cards for online purchases, stores, and ATMs, similar to debit or credit cards. For validation, the customer needs to enter the MPIN instead of the PIN.
- How to use Globe GCash?
Globe GCash card allows customers to withdraw funds in their GCash Wallets through any Bancnet ATMs nationwide for PHP 20 per transaction. Globe GCash Cards are customizable ATM cards and can be used as a valid ID card as well.
- How to use GCash in messenger?
Linking your GCash account with the FB messenger is a productive way to utilize the features. You can perform it by using the GCash registered mobile number and complete the verification using the OTP.
How will GCash Help Me with the Robocash Loan?
Robocash is at the forefront of adopting novel solutions to provide innovative financial solutions to customers. As a legit and state licensed lender, we have a strong presence throughout the Philippines.
Robocash is a fully automated lender. One can apply for a personal loan of up to PHP 25,000 through our website at any time. Our loan approval rates are as high as 95%, and the loan disbursal happens within a few hours. Those without a bank account can avail of our loans through their GCash accounts and make the repayments using Dragonpay through GCash.
Our continuous efforts to explore all possible avenues to improve customer experience help users make timely payments. It eliminates the chances for late fees or a dent in their credit score, making them eligible for better loans in the future.
GCash is one of the most practical ways to improve banking penetration in the Philippines. Better access to the formal economy will enable people to avoid loan sharks and debt traps efficiently.Apply now
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