Users transferring funds from the Bank of the Philippine Islands (BPI) to GCash and Maya will now face a higher transaction fee—but there’s still a way to send money for free if you know where to look.
IYCMI: BPI said users will no longer be able to load their GCash and Maya wallets using the "Load E-Wallet" option starting February 13, but that doesn’t mean the function will be completely gone.
Instead, users must use the "Transfer to Other Banks" feature in the BPI app, selecting "G-Xchange" for GCash and "Maya Philippines Inc/Maya Wallet" for Maya. The adjustment comes as BPI aligns with regulations set by the Bangko Sentral ng Pilipinas (BSP) under the National Retail Payment System Framework.
The increase in fees has sparked frustration among digital wallet users. Why, you ask? BPI charges P25 to use the "Transfer to Other Banks" feature—a big jump from the previous P10 charge in "Load E-Wallet."
How to Transfer from BPI to GCash, Maya for Free
Already, online users are looking to avoid the P25 fee by exploring alternative ways to cash in.
One solution is linking your BPI account to your GCash or Maya app and then cash in from there—it should only cost P5 per transaction.
That’s easily P20 saved per transfer. It might not seem like much at first, but if you frequently move money between accounts, you know those extra charges add up fast.
There’s also another option for those who want to avoid fees entirely, but this one requires a bit more effort. Download BPI’s e-wallet VYBE, because transfers to other banks and e-wallets are currently free on the app. You can cash in to VYBE first, then send money to GCash or Maya without so much as spending a single peso. Spread the word!
*This story originally appeared on Spot.ph. Minor edits have been made by the Preview.ph editors.
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