For most people, especially Filipinos, before they put funds in an online wallet, the number one question they ask, ‘Is it secure?’
GCash is one of the most popular mobile app wallets right now, and of course, you want to make sure your money isn’t lost.
So, is GCash safe to use? Is it safe to make transactions, transfer money, pay bills, even make investments? I’ve been using this app for 3 years now. Yes, GCash is safe.
It’s natural to have concerns, especially those who are new with any technology. However, like any other method where you place your money like ATM, passbook, even in a ‘piggy bank or alkansya’, you need to follow safety reminders to minimize any risk of loss.
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What Is GCash?
GCash is a BSP-regulated mobile cash platform that allows you to buy load, send money, receive money, purchase items, pay bills, and more using a mobile number.
This is like having your wallet on your smartphone. It provides you that trouble-free and safe way to go cashless. The platform is just like Maya and Coins.Ph
Should I Save Money in GCash
It’s understandable to ask for the safety of your money and in this case, if you keep money in GCash App. Well, you can save money in GCash.
But don’t put all of your money into the application. What I mean here don’t put your budget or spending money on the app.
Honestly, I wouldn’t keep large amounts of money in GCash. I’ll put in several thousand there, depending on some transactions, online purchases, and bill payments I need to do, but I don’t save extensive amounts in the app if I will not use it in a month.
Ways To Secure GCash?
The best way to keep your GCash safe is to make sure you keep MPIN secure and never disclose it to anyone. You should be the only one who knows your PIN. MPIN is also the same PIN that you will use if you will withdraw using the GCash MasterCard.
How To Use GCash
There are several ways to use GCash. As soon as you log in to the app, you’ll see your dashboard and options available to your verification level.
Getting Verified
Basic and Semi-Verified is limited. I would suggest you proceed and complete verification up to ‘Fully Verified’ to get all the benefits. Getting fully verified is straightforward.
It will only ask you to complete all your personal information, take a selfie, and submit a photo of one government ID like UMID, Postal, Driver’s, PRC, etc. That’s it. It can take less than 30 minutes. You’ll receive SMS as soon as you’re verified and you should be able to proceed with whatever service you need in minutes.
There are many benefits and convenience to having a fully verified GCash account. You can easily cash in over the counter at 7/11, Puregold, Robinsons Department Store, SM Department Store, Cebuana, Villarica, Tambunting, Palawan Pawnshop, Bayad Center, Globe Store among many others. Get the full list by pressing ‘Cash In’ the app.
If you need to change address or other personal info, you can change it on the app. Though, if you update your personal information, you need to go through the verification process again, which really doesn’t take long as previously mentioned.
GCash Product and Services
- Offline Cash-in
- Pay Bills
- Buy Load
- AMEX Virtual Pay
- Pay QR
- Gcash Mastercard
- Send Money
- Cash Out
- Request MoneyCard Transactions
- Invest Money
- GCredit
- Online Cash-in
- International Remittance
Withdraw Money from GCash
You have several options on withdrawing money from GCash.
1. SM Malls, Ayala Malls, Robinson’s Malls Business Centers
You can withdraw over-the-counter transactions at GCash in SM, Ayala, Robinsons and other malls.
I tried to do this and some business centers don’t know how to cash out or let you remit money from the GCash account. Most of the time, if it’s available, the system is offline.
2. Cebuana, Villarica, Tambunting, Palawan Pawnshop
You can also withdraw from pawnshops like Cebuana, Villarica, Tambunting, or Palawan Pawnshop. Based on experience, depending on your area, it would be hard to find such branches or you must fall in long lines.
3. Major Commercial Banks
You can also withdraw from GCash by transferring funds to any local bank account. When you transfer from GCash, the recipient needs to have accounts on these banks.
I believe there are also options to transfer on smaller or rural banks., but based on experience, transferring from GCash to major banks is quite fast. Usually, there’s no withdrawal fee if it’s an account holder. Sometimes, the fee can range from P10 to P50 which is the charge on your ATM.
Some of the major banks I have experience transferring from GCash are the following:
- BPI
- BDO
- Bank of Commerce
- China Bank
- East West Bank
- Land Bank of the Philippines
- Maybank Philippines
- Metrobank
- PNB
- PSBank
- RCBC
- Robinsons Bank
- Security Bank
- UCPB
- Union Bank
4. Convenience Stores and Sari-sari Stores
You can likewise withdraw from your GCash money though convenience stores and even your friendly sari-sari stores.
5. GCash Card
If you want the most convenient way on withdrawing GCash money, you need to get the GCash Mastercard.
Having GCash Mastercard allows you to withdraw with minimal or no fees. Read the next sections to know why.
How To Withdraw Using GCash Mastercard
As for me, I like to use Gcash Mastercard where I can withdraw just like a regular ATM Card.
You can use GCash Mastercard just like a regular ATM card on any ATM that accepts “Mastercard”. Almost all bank ATMs in the Philippines accept Mastercard, so this should not be a problem.
“When you withdraw, the PIN that you will use when you insert the GCash Card on the ATM is the same MPIN (4-digit number) you are using to log on the GCash app of your smartphone. Just keep that in mind. The 4 number pin you use to log in to the GCash App is the same PIN in the GCash Mastercard. “
Having a GCash Mastercard is a great option if you need to withdraw from GCash account either from a remittance or payment you received.
Read the next section on how to get GCash Mastercard.
How To Get GCash Mastercard
You need to be fully verified in the GCash App, before you can get a GCash Mastercard. There’s an option where you can order it and have it delivered, but I would suggest that you get it directly from Globe Store if you don’t want a long waiting time. Just go to the nearest Globe Store in a mall.
Ask the Globe representative that you need a GCash Mastercard. You’ll be asked to fill out the form and present a valid government ID. You need to pay a onetime fee of PHP 150 for the card.
After getting the card, simply link the card to the app ( the Globe representative can help you do this).
If you like to do this on your own, just click “My Linked Accounts” from the dashboard. After that, you will see the option “Gcash Mastercard”.
Step (1) Go to My Linked Accounts
Step (2) Tap GCash Mastercard
You can also use the GCash Mastercard as an online debit card if you want to make online purchases.
As mentioned earlier, you can also use it to withdraw from any ATM that accepts Mastercard. This card also works as a BEEP card (with an additional fee, mention it on Globe Store to add the feature)
Conclusion
GCash is a safe medium for paying bills and keeping the money for your expenditure, not for savings. If you need a quick access type of savings account, I suggest that you open one from a reputable bank.
GCash is generally safe. While I trust GCash, I limit the amount I put there around 2,000 to 5,000, depending on some online transactions I need to deal with in a certain period.