Oh… new Globe GCASH Fees = BYE BYE GCASH!!!

Louis Vuitton Cles in Black Epi Leather - LV, Manila, Philippines

Last night, I had decided to get the Epi leather Cles I’ve been considering since Monday to finally have a replacement for my lost coin purse. I woke up relatively early because I had to pay for the item via GCash in Gateway Mall and cash-in (i.e. put credits in my account) because I still have a few hundreds in my account. I just needed to augment it before sending to the seller through my own cellphone.

While I was in the couch and about to send the money, I received a notification that the transaction was failed because I had no sufficient funds. I was initially shocked because I never had such problem with sending money. I re-checked my balance and saw that I had sufficient amount. I approached the counter to ask what was the problem, then she informed me that they now charge Php 10/ Php 1000 sent from one account to another. WHOA!

Globe Business Center - Gateway Mall Cubao - Philippines

I can’t remember when was the last time I paid for something via GCash. Was it that long time ago that I did not even know that such transactions fees were already imposed?  Turned out that it has been like that since August 1, 2012. Well, since I was putting cash into my own account, I did not have to pay any fees. But the fees are also different from OTC to cellphone-to-cellphone transaction. In my case earlier, Php 10 / Php 1000 had to be deducted from my current balance. However, it will be Php 20/Php 1000 if the transaction will be done OTC. And take note that I was reminded that it will remain to be Php 10 or Php 20 for every fraction of a thousand. So does it mean that the fee will be Php 40 if one would intend to send Php 2,001 to another account via OTC? Most probably yes.

Globe used to charge differently before, with the 1% transaction fee as an acceptable rate, at least for me. I’ve been using Globe GCASH both as a seller and buyer on Ebay.ph since 2008, and this move by Globe definitely put me off from using this service? Will I still be using Globe GCASH? Definitely not. I was already put-off by the interbranch charge by BDO so I decided not to use it as a payment option for buyers, and I will also be removing the GCASH option — their service just lost one customer.