PayMaya and GCash are the two most famous mobile wallet apps in the Philippines market. Due to the recent pandemic, people are confined to their houses. At that time, they are the primary source to make payments either for shopping or bill payments. Now people can transfer funds from GCash to PayMaya and the opposite. Let’s look at how to Transfer money from GCash to PayMaya.
The apps have been developed for quite a time but gain popularity when people start to do online shopping. Now many online websites allow you to pay from these wallets. The world is evolving; traditional cash payment is in the past. People prefer to pay through a digital platform.
In this topic, we’ll explain the complete scenario of a how to transfer money from GCash to PayMaya. However, for the transaction, you should know about their function and the account. So, let’s get to the topic of discussion and stay if you want to know!
What is a digital wallet?
Digital wallets are the online platform tool or apps that work as the electronic mode for the physical wallet. They are also referring as e-wallets and mobile wallets. The subscriber can safely store the digital payment mode as credit/Debit card, crypto, passwords, bills, funds, games, virtual currency and a lot of things. All of these payments are made with a digital wallet which is always in your hand in the form of a mobile phone.
Now you know about digital wallets but can find the best one. So let me tell you that GCash and PayMaya are the trendy ones nowadays. GCash was launched in 2004 in the Philippines whole PayMaya was in 2007. During the pandemic, they have helped people a lot when they can’t even go out of their houses. You can also transfer funds from GCash to PayMaya and vice versa if one gets out of balance at the time of need.
steps to Transfer Money from GCash to PayMaya
GCash and PayMaya both support fund transfers. Here is the step-by-step guide on How to Transfer Money from GCash to PayMaya that will help you in the fund transfer with each other. Follow the steps from the below section:
Sign in to GCash:
Open the GCash on your phone and sign in with the help of the credentials that you got when you first registered in the app.
Click on “Bank transfer”:
On the dashboard page of your GCash account, click on send money and tap “Bank transfer”, which appears on the screen.
Choose “PayMaya Philippines, Inc””
The list of all the banks that GCash allow will appear on the next page or screen. Tap on the “view all” option and scroll to find the PayMaya Philippines, Inc option and select the icon.
Enter Details & click on Send Money:
Enter all the details the app demand like:
- Please enter the amount you wish to transfer and the purpose for it.
- You can also determine if it’s payment or if you are sending money to your PayMaya account.
- Please enter the details of your account, like the bank account number or registered mobile number of your GCash, and the email address to get confirmation, but it is optional.
- As you are done with details, click on SEND MONEY.
Confirm the transaction:
On the next page, the transaction detail will appear; recheck all the details. Once you are sure of the details then, tap on Confirm.
The transaction is being processed by PayMaya and SMS via message on your registered mobile number and email address of GCash.
Note down the Instapay trace number:
The transaction details will appear as a recipient with the Instapay trace number. Note down the Instapay trace number just with the help of a screenshot. It will come in handy when you face problems related to the current transaction.
After the successful transaction, check the PayMaya account to check if the money is reflected in your wallet or not. The transaction fee for GCash to PayMaya is Php 15 pesos. It’s the latest GCash transaction fee, and before that, you need to pay Php 10 pesos. But they have increased the fee in the Philippines, along with other countries.
Q: How to transfer money from GCash?
Ans: The steps for the transfer are the following:
- On the GCash home page, click on “Bank Transfer”.
- Choose the bank you want to cash out.
- Choose the amount and fill in the respective bank detail, and tap on “Send Money”.
- Recheck the fund transfer and click on “Confirm”.
Q: How much can you withdraw from GCash?
Ans: Yes, GCash charges a fee if you want to cash out from GCash to a bank transfer. For each money transfer from GCash to the bank, you must pay a charge of Php 15 pesos.
Q: Can we withdraw the amount with a GCash card?
Ans: If you don’t own GCash Mastercard or bank account from where you could do the transaction. But you can withdraw the GCash amount from an over-the-Counter partner like supermarkets, pawnshops, departmental stores etc.
How To Transfer Money From PayMaya To GCash
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