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    Transfer funds in minutes for free to over 30 banks with GCash

    MANILA, Philippines – GCash, a mobile money service, now offers convenient and free fund transfer to over 30 banks.

    GCash press conference
    Mynt announced GCash free fund transfer service during the press conference on Friday, February 15 at Jade Garden, Glorietta 2 in Makati City.

    Mynt, the operating company of GCash, announced that they have fully rolled out its fund transfers service, allowing customers to transfer funds from their GCash App to any of the over 30 banks supported nationwide.

    With the new feature, fund transfer times have been virtually reduced to zero and paper wastes eliminated, as it will only take less than 3 minutes to complete a transfer transaction digitally.

    Here's the step-by-step guide in using GCash fund transfer:

    step-by-step guide in using GCash fund transfer

    With GCash, all a customer needs are smartphone, funds in their GCash account, and the bank details of the account they’re transferring funds to. Once these are inputted, they can just sit tight and relax as the confirmation message arrives on their device. This service also allows for transfers anywhere in the Philippines where there is data connectivity present. The app also is open to use for all networks, be it Globe, Smart, Sun, Talk n’ Text, or TM.

    Fund transfers are an integral part of the Philippine financial ecosystem. It’s widely used for sending money for personal purposes such as for family needs, bills payments, or even paying online sellers for products ordered on social media platforms. The Bangko Sentral ng Pilipinas expects the nation to have at least 20% of its financial transactions to be made electronically by the year 2020. This includes banks and Electronic Money Issuers (EMIs) which GCash is classified under.

    GCash, for its fund transfer service, utilizes the InstaPay platform initiated by the Bangko Sentral ng Pilipinas. It is an “Electronic Fund Transfer (EFT) service that allows customers to transfer funds almost instantly between accounts of participating BSP-supervised banks and non-bank e-money issuers in the Philippines.”

    Getting a GCash account is easy. Just download the GCash App for free from the App Store or from Google Play and sign up for an account. Alternatively, you can look for @gcashofficial on Messenger and sign up.

    To fund their GCash account, a user can visit over 16,000 GCash partner outlets nationwide, like 7-Eleven, SM Business Centers, Robinsons Business Centers, Puregold branches, and Villarica Pawnshop branches, and tell the cashier to cash-in to their GCash account. Cashing-in to a GCash account is free.

    — The Summit Express

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