GCash has a new feature! Users can now transfer GCash funds to bank accounts in the Philippines!
How do you do that? The process is simple and we will teach you how to do it through this guide.
Also watch the iSensey video tutorial of an actual fund transfer!
First, you must make sure that you have a verified Gcash account. If you already have one, then you can proceed with this tutorial.
*If your account is not yet verified, undergo the verification process first. We will share how to verify your account in Gcash in another iSensey post.
Second, you must have the following details at hand:
- You must have Gcash fund that is enough to cover the plan money-transfer.
- The exact amount you want to transfer to the bank account.
- The name of the bank; the bank must be part of the InstaPay network.
- The name of the account holder who will receive the funds
- The recipient bank account number
*We’ll provide the list of banks that is okay for Gcash fund transferring later on this post.
SEND MONEY GCASH TO BANK
You can transfer to your own bank account or to the bank account of your family members, friends, business partners, online sellers, etc.
Third, let’s get to the nitty-gritty of fund transfer Gcash to Bank.
- Take out your phone and login the Gcash app.
- Click on ‘Send Money’.
- Next, click on ‘Send Money to a Bank Account’
- The list of banks will display, choose the bank you want to transfer money to and click it.
For our sample, we will Send Money from Gcash to Unionbank account.
- Fill up the form to send the money to the bank, you need to input Amount in peso, Account Name, Account Number. Then you will click the ‘Next’ button
*At the bottom of the screen, you will see this notice “Your convenience fee is waived for this transaction”. Yayyy! It’s free! (again, in the future this service might incur a fee, just read the fine prints as you do every transaction).
- The next page will ask you to confirm if the details are correct:
- Amount to be sent
- Bank to be sent the money to
- The recipient account name
- The recipient account no
- Click ‘CONFIRM’ if all details are correct.
This service is powered by InstaPay.
All these done and completed in just 3 minutes! You can check the time-stamp of each step to see na ang bilis talaga!
VIDEO GUIDE: How to Transfer Money Gcash to a Bank Account
You will receive an SMS from Gcash about the successful transaction.
LIST: InstaPay Network GCash Partner Banks
- Bank of the Philippine Islands
- BDO Unibank, Inc.
- Metropolitan Bank and Trust Company
- Land Bank of the Philippines
- Security Bank Corporation
- Philippine National Bank
- China Banking Corporation
- Union Bank of the Philippines
- East West Banking Corporation
- Rizal Commercial Banking Corporation
- United Coconut Planters Bank
- PayMaya Philippines, Inc.
- Philippine Bank of Communications
- Philippine Savings Bank
- Philippine Trust Company
- PNB Savings Bank
- RCBC Savings Bank, Inc.
- Robinsons Bank Corporation
- Sterling Bank of Asia, Inc.
- Sun Savings Bank, Inc.
- Yuanta Savings Bank Philippines, Inc.
- Asia United Bank Corporation
- Bank of Commerce
- China Bank Savings, Inc.
- CTBC Bank (Philippines) Corporation
- Development Bank of the Philippines
- Equicom Savings Bank, Inc.
- ISLA Bank (A Thrift Bank), Inc.
- Malayan Bank Savings and Mortgage Bank, Inc.
- Maybank Philippines, Inc.
- OmniPay, Inc.
- Partner Rural Bank (Cotabato), Inc.
After fund transfer, you can inform the recipient to check his or her bank account’s Recent Transactions to see the money coming from you. This is what iSensey got when we transfer from Gcash to Unionbank EON account, you can see that the PHP 2,000 was transferred to the account.
*The screenshot is from a Unionbank mobile app.
Is there a transaction fee to transfer funds GCASH to BANK? As of this time there is no convenience fee to do the money-transfer but probably in the future Gcash will levy a transaction fee. While the feature is free, try it!
You can even transfer money you received via Western Union MTCN to your Gcash account and then transfer the same to your bank account in less than 5 minutes!
Gcash and online wallets make life easier and convenient! Try the new service!!!