“We recognize that domestic remittance is a big concern for Filipinos. Today, sending, but also receiving money from the Philippines should be convenient, simpler, faster and… completely Free. This is why we at GCash decided to offer something unique: a totally free solution, open to all Filipinos using the GCash App - No hidden charges, no added fees. With GCash, Filipinos can now send and receive money anywhere, anytime at Zero Cost.” ~Mr. Anthony Thomas, Mynt CEO
The company that operates GCash, Philippines’ largest mobile wallet recently announced that, for the 1st time in the Philippines, there is now a totally Free, convenient, fast, and accessible way of sending, and receiving money within the country. Filipinos can now transfer and remit money at Zero Cost, anywhere, anytime within the Philippines by using GCash. Mynt.
Sending and receiving money through GCash is very simple. Whether you’re a smartphone user or a feature phone user, you can enjoy the free remittance service that GCash is offering, by creating an account either through the GCash App or even FB messenger. Once you’ve created an account, you can fund your GCash wallet at any of the 15,000 GCash Partner Outlets nationwide or transfer funds from your Bank account to your GCash Wallet. Once done, the customer just has to tap on the “Send Money” feature and follow the steps either in-app or through FB Messenger to transfer money at Zero cost for both senders and receiver. Money can be received instantly through the GCash app and FB Messenger and receivers may choose to remit it 24/7 at any Bancnet ATM or during business hours in GCash Partner Outlets near them.
Since many years, remittance has been a big part of the lives of many Filipinos. However, the different types of money transfer services have not matured over the past decade. The domestic remittance space in the Philippines has largely been a cash-to-cash market, with the money flowing from several informal sources like from family and friends, where a significant portion of the money transfers usually take place in urban areas. Many Filipinos leave their hometowns to seek employment in nearby metro cities or other provinces far away from their loved ones. The lack of banking offices in several regions in the Philippines has led to the emergence and growth of several known financial service providers which normally charge high fees for every money transfer transaction and will require both the sender and receiver to spend on transportation or other related costs.