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Here’s Why You Need to Start Using Gcash this 2020

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Cashless transactions have proven to be very beneficial in today’s society. I prefer paying through GCash or debit card in making payments than bringing cash. For a mom like me who has a lot on her plate, I don’t want to keep on writing down or making a mental note in all my expenses. If you’re a mom, you know how stressful that can be.

In the Philippines, cashless transactions are still on its way, and we don’t have many options to make it possible.

However, GCash has proven to be very useful if you want to track your financial transactions.

It’s a staple on my phone, and almost all my family’s financial transactions are done through Gcash.

What is GCash?

Gcash is a mobile wallet and money service which allows users to buy prepaid loads, make payment, and transfer money. The company behind, Mynt or Globe Fintech Innovations, Inc., is the leading player in financial technologies in the Philippines. Their goal is to create a cashless system that promotes better business management. I am leaning towards a cashless system, as it’s easier for me to track our expenses compared to cash. With cash, you have to write down all your transactions no matter how small they are if you want to list your expenses and budget your hard-earned money properly. 

GCash Review Featured Image

Also, almost everyone nowadays has a smartphone, and one of the latest developments in smartphones is an e-wallet. 

Gcash is a local app available to both Android and iOs devices and is also available to all networks in the Philippines. It’s as easy as creating an account with your mobile number, fill in your personal information, and set up a mobile PIN or MPIN.

Pros

  • Convenience on bill payment to almost all merchants
  • Has options to save money and invest
  • Gcash Mastercard allows you to withdraw your funds through ATMs
  • Bank transfer to almost all banks in the Philippines
  • Has options to connect to Paypal
  • You can track your financial transactions
  • Accessible even without internet connection through *143#
  • Has options to loan funds for purchases through GCredit
  • Can be used for business

Cons

  • Main functionality for purchases needs an internet connection to generate barcode
  • No options to send money to remittance centers
  • Average customer service 
  • Longer turnaround time if for cash-ins from banks if there’s a system update

What services does Gcash offer?

Lifestyle Services

Buy Load

Initially, this is the reason why I signed up for Gcash. With this feature, I don’t have to go outside to purchase prepaid load, plus I will have privacy as I don’t have to write down my mobile number in those spiral notebooks at sari-sari stores. Also, I can get 5% rebates in buying prepaid load so I use this if a friend asks me to load them up and I can make an extra income out of this service. 

Borrow Load

No Gcash Balance? You don’t have to worry as you can borrow load from Gcash and pay it after two days. You won’t earn any interest for the load you borrowed, all you have to do is make sure you have cash in Gcash, and they will deduct it from there. 

Pay Bills

This is one of my favorite services from Gcash. You can pay your bills through the app. They partnered with 400+ billers, so it’s very convenient to make any payments. We don’t go out anymore to pay our Skycable internet and our Meralco bill. We made it a habit to pay through Gcash as soon as we receive our bills, so we won’t have to worry about the due date. 

Book Movies

I love this service so much whenever there’s a Metro Manila Film Festival, or an Avengers movie coming out and the queue would take you hours to get a movie ticket. With the “Book Movies” service of Gcash, Tee and I can buy tickets for movies showing at Ayala, SM, and Robinsons Mall without falling in line. 

Pay QR

In today’s society, it’s more beneficial to make cashless transactions. You can pay by scanning QR codes or barcodes with Gcash. Right now, almost anywhere you go, you can see a Gcash QR at the cashier. Secure payments, no need to bring cash, plus you have a record of your transactions so you can monitor your expenses.

Shop Online

Even if you don’t have a credit card or debit card, you can still make online purchases in Lazada, Shopee, Zalora, and even Apple Store through their Virtual American Express Cards. 

Send Money

You can send money to anyone with a mobile number and Gcash. You don’t have to go to remittance centers to send money to a family member.

Send with a Clip

When Tee sends me money, he adds an “I love you, this money is for groceries.” You can also attach photos, videos, voice recordings, and themes for a personalized touch.

Ang Pao

If you’re sending money to multiple people, you can use the Ang Pao option. You can send it to your family and friends who are using Gcash. They need to accept on their end; otherwise, the funds will go back to your account. 

Request Money

Need money? Or someone owes you money? You can request payment from anyone who has a Gcash. You also have options to send reminders for them to pay your funds. 

KKB

When out with friends and you don’t have cash, then you can divide your bill with Gcash and send a reminder to your friends to pay you. The KKB feature has been handy to me when I was going out with my colleagues on salary day, and everyone’s got a thousand bills. Who has change for that? Thanks for this KKB option of Gcash. 

Gforest

The GForest is a newly added eco feature of Gcash where you can earn energy points. The energy points are used to help plant trees in the Philippines. I wrote a detailed review on GForest here.

Financial Services

Bank Transfer

Through Instapay, it is now possible to make bank transfers in the Gcash App. The best thing is that you can conveniently transfer funds in an instant without any service fee. I use this to send money to my sister’s bank without going through the hassle of being in line at remittance centers.

GCredit

Yes, it is possible to loan funds from Gcash. This is made possible through GCRedit. Now, anyone with a GCash account can have a credit line and pay bills through Gcredit. The Gcredit feature is beneficial if you’re salary’s a bit late and your bills are already due. Though this will only be activated once you hit a specific GScore, it’s not that hard to get one. The good thing is that your credit limit can increase up to 30,000 if you’re a good payer and if you can increase your GScore.

Tee is currently has a credit limit of 10,000 while I have 2,000. If we’re out of groceries, and salary’s not in yet, we can still go to the supermarket and buy the essentials we need.

Save Money

Tee and I are using this feature to help us with our 52-week challenge. It’s easier to save with Gsave because you don’t need an actual piggy bank. On top of that, it yields a 4% interest, which is more significant than what you can get in most banks.

Invest Money

When you have extra funds, and you wanted your hard-earned money to grow passively, you can take advantage of the “Invest Money” feature. Their professional partner providers will manage your money. 

Frequently Asked Questions

You have two options.

You can download the Gcash app from Google Play or App Store and follow the step by step instructions. Another option would be to look for @gcashofficial in your Messenger app and register there. You will need to create a Mobile PIN or MPIN. Make sure that you’re the only one who knows about your MPIN.

Also, take note that Gcash doesn’t ask for your MPIN through text message or phone call. After you have signed up, you have to verify your account by uploading necessary identifications to access all features of Gcash. 
One of the advantages I can see is that Gcash offers a lot of rebates and vouchers that most debit cards can’t deliver, most especially cash. It also allows you to track your transactions in the app, without manually listing your expenses down in a piece of notebook. Another benefit of using Gcash for paying is that you won’t have to carry cash, which makes it safer for you in case someone steals your purse.
Your transaction limit depends on your level of verification. But if you’re fully verified, your daily and monthly transaction limit is 100,000. Therefore, any transactions beyond your limit won’t push through. It will give you a quick prompt notifying you that you’ve reached your transaction limit. 

Conclusion

In Conclusion, Gcash is a versatile Financial App that makes payments so much easier. Tee and I personally use it for bills payment and transferring funds. It may have limitations in sending money to remittance centers, but you can always send funds to anyone who has a bank account. 

We’ve loved it’s amazing services so far, and if ever you want to give it a try, click on this link to take advantage of the ₱70 worth of freebies I’ve shared with you. 

How was your experience with Gcash? Did you like it so far? 

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