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1/2/19

Gone Cashless: GCash Ultimate Guide

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I believe there's no reason for anyone to not be trying to "Go Cashless" in this day and age. We have the technology and there are already existing payment solutions to support this, and all it needs right now is YOU.

In this blog post, I will show you how you can start using GCash and show some of the key features that it offers. 

Note: This is not sponsored by GCash. Also, this blog post will be updated from time to time for new links to articles that are part of this guide.



The convenience and time saving features are what draws me in to start going cashless today. Currently, I'm using GCash which was originally handled by Globe Telecoms and it is now handled by its fintech startup, Mynt. 

This service started and pioneered mobile money solutions here in the Philippines and have since grown more to provide more services and offerings to both consumers and even businesses.

GCash Ultimate Guide Index

This will be a long post so I will link right here some of the guides I'll be posting regarding GCash as well as links inside this blog post for other information that will help you use this service.

What you need to know

Go Cashless!

Investments, GCredit and Donations
  • How to Invest Using GCash
  • What You Need To Know About GCredit
  • Donate Using GCash
Other Articles
----------------------------------------------------------------------------------------------------------------------------

Pros and Cons

You're probably here deciding whether or not using GCash is right for you. Like any other product/service, there are some pros and cons and I'll share what I think about this below.

Pros
  • Convenient and Useful Features
  • Can be used on the go
  • A great selection of partners available for all features
  • Fast transactions
  • Secured with the right security measures(Tho there are still improvements they can do)
  • Text Confirmation Messages are sent out for every transaction
  • Open to ALL NETWORKS

Cons
  • You need to be connected to the internet
  • Some say they have bad customer service(from my experience,they've been wonderful so far)
  • Locked features unless you're fully verified(It's more of a policy thing than a con really, but hey, you can't withdraw your funds if you're not fully verified)

Features and Services

GCash started as a mobile money remittance solution back in 2004 and has since been updated to offer more services which will be listed down below. I will also add links to articles that use the specific feature so you can see the use cases of each one :) 


Cash In

With GCash's array of partners, you can easily fund your GCash Wallet through remittance centers, convenient stores(7-11) and even banks!

Read these articles to learn more about how to Cash In your GCash Wallet:

Send Money

If you need to send money to family and friends, it is very easy and convenient! Just have them signup for GCash and tap on Send Money to send funds from your GCash wallet to their GCash Wallet or even send it straight to their bank accounts! (Transaction fees may apply)

Read these articles to learn more about how to Send Money from your GCash Wallet to a bank account or another GCash Wallet:

Buy Load

While there are alot of prepaid load retailers in stores and malls, you may find yourself in an emergency and need to buy Load ASAP especially if you're in an area with no stores available. GCash enables you to buy load using your GCash Wallet! Not only that, but when you use GCash to Buy Load, you'll get rebates! A perfect way to have a side income on your office or sari-sari stores :)

Read these articles to learn more about how to Buy Load from your GCash Wallet:

Bank Transfer

GCash now has Bank Transfer features which lets you transfer your funds from a bank account to your GCash Wallet and Vice Versa. Fees may apply but the transactions are real time and less hassle. 

Read these articles to learn more about how to do Bank Transfers with your GCash Wallet:

Shop Online and Pay with GCash

Shopping online is now easier than ever with online stores like Lazada, Zalora and Sephora, National Bookstore and more! For a list of Partner Online Stores, check out the GCash App linked below :)

Read these articles to learn more about how to shop online and pay using your GCash Wallet:

Pay QR

Whether you're shopping in your favorite store or dining in a restaurant, you can pay via GCash's Pay QR feature. Partner stores and restaurants will accept GCash payment through the use of Pay QR, just ask them for the GCash QR Code, whip out your phone and scan to pay your amount due and you're done! No need to get your wallet and take out your cash. 

Read these articles to learn more about Pay QR and use your GCash wallet on your next shopping/dining experience:

Bills Payment

If you're like me who doesn't have much time to go to payment centers for bills and such, this feature will make everything a breeze for you. You can pay your bills through the GCash app and use your wallet funds to pay for it!

Read these articles to learn more about paying your bills using the GCash App:

GCredit

Don't have enough cash/funds on your GCash to pay for your expenses? GCash is offering GCredit to people who extensively use GCash and once you're approved, you will get GCredit that you can use for paying bills, buying load, and many more. Personally, I haven't used this yet, but it is nice to know that you have the option for this.

Read these articles to learn more about GCredit:

Invest Money

GCash is now offering investment opportunities! You can use your GCash Wallet Funds to invest in their Investment products like the ATRAM Peso Money Market fund. Invest for as low as Php50!
I also haven't used this yet, but this 2019, I might just build on it. 

Read these articles to learn more how to Invest your money via GCash:

GCash Limitations and why you should Get Verified!

With all of those features, you may be wondering how you can avail of this now right? Before we dive into that let's discuss the limitations of the GCash App. Of course, like all financial institution it is regulated by Bangko Sentral ng Pilipinas or BSP. 

There are 3 levels of Verification in GCash:
  • Basic
  • Partially Verified
  • Fully Verified
When you are verified, you will have access to more features and GCash services, such as: cashing-out; sending money; using your GCash MasterCard to purchase items and make ATM withdrawals; cashing in through PayPal, banks, and debit cards; receiving international remittances; and using GCredit.

Once you’re verified, your transactional limits will also change:
1. Maximum wallet funds increases from Php40,000 to Php100,000;
2. For American Express Virtual Pay, the total spend limit of Php40,000 is lifted, and upgraded to Php100,000.
3. Load purchase daily limit of Php500 increases to Php100,000.
4. Your payment for bills increases from Php5,000 to Php100,000.


How to Get Started

Most people think that GCash is only for Globe users. It used to be, but now it is open to all NETWORKS! Signing up is easy! 

1) Signup using my referral code! This will give you Php50 on your account for free!
Using my referral code will also give me Php50 on my account. :)
https://gcsh.app/r/8efoK7u

2) Download the GCash App on Apple Store or Playstore



3) Login to your registered number and you may now use GCash!
It is so simple right?


How To Get Verified?


Step 1: Prepare One(1) Valid ID and Go to GCash Verification Facebook Page
Step 2: Click on Send Message
Step 3: Follow the Chatbot Instructions to get verified

Alternatively, you can go to a GCash Partner Outlet (including Globe Stores, Villarica Pawnshops, and Tambunting Pawnshops), fill up a form, get your picture taken then wait for a confirmation text that you've been added to the KYC Database

Here's a list of Valid ID's you can submit:
1. Passport
2. Driver’s License
3. Professional Regulation Commission (PRC) ID
4. National Bureau of Investigation (NBI) Clearance
5. Police Clearance
6. Postal ID
7. Voter’s ID
8. Barangay Certification
9. Government Service Insurance System (GSIS) e-Card
10. Social Security Service (SSS) Card
11. Senior Citizen Card
12. Overseas Workers Welfare Administration (OWWA) ID
13. Overseas Filipino Worker (OFW) ID
14. Seaman’s Book
15. Alien Certification of Registration/Immigrant Certificate of Registration
16. Government Office and Government-Owned and Controlled Corporation (GOCC) ID (e.g., Armed Forces of the Philippines (AFP) ID)
17. Home Development Mutual Fund (HDMF) ID
18. Certification from the National Council for the Welfare of Disabled Persons (NCWDP)
19. Department of Social Welfare and Development (DSWD) Certification
20. Integrated Bar of the Philippines ID
21. Maritime Industry Authority (MARINA) ID (Reference: BSP memorandum no. 2016-019)
22. Company IDs issued by private entities or institutions registered with or supervised or regulated either by Bangko Sentral ng Pilipinas (BSP), Securities and Exchange Commission (SEC) or Insurance Commission (IC)
23. School ID with photo (for students who are beneficiaries of remittances/Cash-In or phone-to-phone (P2P) transactions who are not yet of legal age)

Phew, that was a long read... I'll give you time to rest.
After that, you can go back up the index and check out the other articles about GCash and its uses!
One of them was how GCash saved me from an ATM card disaster!
READ IT HERE: https://www.gabjornacion.com/2019/01/how-gcash-saved-me-from-my-atm-card.html
Hope you can check it out soon!

Thank you for reading this!

What are your thoughts about going cashless and using services like GCash?

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