VERSUS: GCash Bank Transfer vs Bank Transfer
Today’s VERSUS will go and compare two things involved in everything we love (money) and what some of us hates (bank). Today we’ll be doing GCash Instapay vs Bank Transfer.
- Ease or Hassle
When depositing money to a bank account, you’ll have to go through all the hassles including commuting to the bank, joining the queue and then having to go through the teller.
This new fund transfer will let you Deposit money to banks for free with GCash and even better is the fact that you can do it right at home or wherever you are.
2. Additional Charges
TRUE STORY: The other day I did a deposit to my sister-in-law here where I live (somewhere in Region 4) and she’s from Pasig. Rather than being able to buy isaw and barbeque from the nearby “ihawan” worth 50 pesos, I was charged with an additional 50 pesos because of the distance. I also can’t do anything because that was BPI’s new policy. So yeah, some banks can have hidden/additional charges and that’s a big NO for me.
The new fund transfer service by GCash is free. Forever. No more surprise charges at the end of the line because (a) there are no lines and (b) its SOP.
3. A Wide Choice
Banks: Banks obviously are limited to their company. Cheques for example will take a while if its from other banks while cheques from the same bank will get processed ASAP.
Gcash: When you do bank fund transfers with the use of GCash and the GCash app. Here are the all the banks that are currently working hand in hand with the app.
Bank of the Philippine Islands
Landbank of the Philippines
Security Bank Corporation
Unionbank of the Philippines
Philippine National Bank
China Banking Corporation
East West Bank
Bank of Commerce
China Bank Savings
Malayan Bank Savings
Partner Rural Bank (Cotabato)
Philippine Business Bank
Philippinen Trust Company
Philippine Veterans Bank
PNB Savings Bank
RCBC Savings Bank
Robinsons Bank Corporation
Sterling Bank of Asia
Sun Savings Bank
UCPB Savings Bank
Yuanta Savings Bank
Purchasing Transactions with Deposits
Banks: You have to go through the same process as a normal deposit whenever you find a deal with somebody you met online or on social media. So for example, you saw a nice bag and the seller will send it out to you on the condition that you deposit the cash (including the shipping), so you spend two to three hours at the most just to be able to meet the seller’s demands.
GCash: In the same scenario, you don’t have to leave your house. You can send the payment to the seller with the GCash app. Just make sure that your GCash has the sufficient balance and you’ve connected your bank account to your Gcash account.
Don’t forget Deposit money to banks for free with GCash