Heads Up! GCASH, UnionBank, and BPI will have a PHP 5 Convenience Fee for every Transaction Starting October 2.

Even though both BPI and GCASH are owned by Ayala Corporation, there is still a transaction fee between both of them.

GCASH recently confirmed of the additional PHP5 charge for each transaction made with them and with BPI and UnionBank. Our good friends from GizGuide reached out to them and explained that this fee is still (obviously) much more affordable than the PHP 15-25 fee they ask for in every other bank. They mentioned that “due to increasing costs” linked accounts would soon have a convenience fee.

Don’t panic. You can still transact with these banks for free until October 1 but don’t say we didn’t warn you. Thankfully, cash-ins via PayPal remain free of charge as well as through OTC (over-the-counter) up until you reach a monthly threshold of PHP 8,000. After that limit, users would be charged a 2% service fee every time they make a transaction. This threshold refreshes every first day of the month.

Source: GizGuidePH