The 3 Top Reasons Why GCash Is The Perfect Budgeting Tool [Tips + Review]

October 14, 2021

Find out how GCash, an electronic wallet, can be a great tool to help you in budgeting your money.

GCash has surged in popularity fairly recently because of the community quarantine in some parts of the country because of the global COVID-19 pandemic. It’s a great tool for cashless payments (it turns your mobile phone into a wallet!), a necessity these days when contactless transactions and social distancing are the norms.

How GCash can be your ultimate budgeting tool

The 3 Top Reasons Why GCash Is The Perfect Budgeting Tool [Tips + Review]




    Even before the pandemic, the use of GCash was already gaining traction in the past few years because of the rise in online selling. I personally know a lot of people who use GCash for accepting payments and remittances and sending money to other users. 

    GCash logo
    GCash logo from its Facebook page

    Admittedly though, it was fairly recently when I discovered how to use GCash but I have long been curious about how it works. And I would admit that I immediately fell in love with it, the simplicity of the app, and the overall practicality of having a GCash account. 

    Using GCash to budget your money 


    What I really loved about using GCash is that I realized that it can be a great budgeting tool and an even better alternative to reloadable cash cards. With reloadable cash cards, is that some would require you to physically go to a bank branch to load it and it carries a loading fee of typically P100. 

    Here’s why I like GCash and how I think it can help you budget your money: 

    1. You have full control about how much you will load 


    Your GCash load will depend on how much money you want to put in your account, which you can do so over-the-counter or online via fund transfer. If you are planning to spend only P2,000, say, for your grocery items, then just load that amount and use it. There is definitely no risk of overspending. 

    GCash gives you full control over the amount that you will load
    Photo by Adrianna Calvo from Pexels

    Over-the-counter cash-ins can be done through banks (BDO, BPI, Metrobank, EastWest, etc.), Cebuana Lhuillier, Villarica pawnshops, Tambunting pawnshops, Bayad Center, ECPay, ExpressPay, Digipay, SM Department Store, Robinsons Department Store, or Puregold Supermarket.

    To cash-in over-the-counter, approach the teller that you will load your GCash account. You will then be asked to fill out a form and the total amount of cash that you are cashing in. 

    An option that I do love is online fund transfer which I could easily do with my bank’s mobile app. I transfer the amount that I need to my GCash account via Instapay and I receive the money in an instant. It’s currently free of charge up to P50,000. Aside from online banking, you can also transfer money from your PayPal account to GCash. 

    I used to wonder how a GCash account is loaded, particularly if there is a need for an account or control number. Turns out that the mobile number that you will use for registering to a GCash account will be your account number. So it’s really easy to use because you just need to remember your mobile number, which you most likely do. 

    I recently tried using GCash to pay for my purchases at a convenience store and I was completely amazed by how easy it was plus it reduced physical contact through cash. 

    2. You can only spend the total amount loaded in your GCash account 


    As I had mentioned earlier, you can only spend the total sum loaded in your GCash account. it’s actually great knowing that you only have a limited amount to spend because it cuts your grocery time shorter – you head out only to the sections where you need to get items from and that’s it. It creates discipline. 

    You can only spend the amount loaded in your GCash account
    Photo by Jack Sparrow from Pexels

    You do not have to linger longer thinking about what else you can buy or whether you want to buy an item on sale or not. This is the problem that usually comes with using a credit card. I am a fan of credit cards because it is a great source of emergency money plus it can also help you budget your money as long as you use it mindfully. 

    However, for some people, having a credit card is like having the license to spend knowing that they can just get the things that they want (and not need), pay for it, and then go. GCash eliminates this overspending risk entirely. 

    3. Using it does not come with any transaction fees or charges 


    Using GCash to pay for your purchases does not entail additional charges or fees. So again, you pay only the amount of your purchases, no more, no less. And since it's not credit, you have no risk of incurring interest and finance charges if you forget to pay on your due date. That is how practical it is to use GCash for payments.

    In short, GCash lets you manage and save money easily. You can even open a GSave account if you want an additional deposit account. Another great option would be to have your own GCash Piggybank where you can collect GCash Coins which you can eventually exchange for real money.

    In the end, of course, you have to have the discipline and the desire to gain savings. Otherwise, you will just have a hard time saving money. 

    How to sign up for a GCash account 


    It’s easy to sign up for a GCash account. Anybody can use GCash but I highly recommend it to those who do not have a bank account

    Signing up for a GCash is easy
    Photo by cottonbro from Pexels

    Here’s how you can easily open a GCash account: 

    • Download and install the GCash app on your smartphone. 
    • Nominate a mobile PIN (MPIN) before proceeding to sign up. Remember this MPIN and never disclose it to anyone you do not trust because this is what you will use to log in to GCash. 
    • Input the required fields such as name, address, and birthday and save these details at the end of the sign-up process. 
    • Verify your account to enjoy more GCash features such as sending money. To verify, submit a copy of any valid ID (UMID, Driver’s license, Philhealth card, SSS ID, Passport, and Voter’s ID), scan your face, fill out more information, and submit. Once verified, you will receive a notification from GCash.

    If you have further questions or concerns, you may call the GCash customer service hotline at 2882.

    What is the GCash Mastercard?


    Using the GCash Mastercard is another way of doing cashless transactions. It is highly recommended for those who would like to enjoy quick cash withdrawals from any Bancnet or Mastercard ATMs and also for individuals who are more comfortable in paying by swiping their card.

    The GCash is easy-to-use because you just swipe it like you would any other debit card. Also, you can use it to pay for your orders online.

    How to apply for a GCash Mastercard


    The GCash Mastercard is only available for verified accounts. There are three ways to apply for it: via the GCash app, through the online order form, and over-the-counter from partner convenience stores.

    If you are applying via the GCash app, follow these steps:


    • Log in to your GCash account.
    • Tap the "Show More" option on your GCash dashboard.
    • Under "Fund Management," tap "Cash Out."
    • Select "ATM Withdrawal," then tap "Order Online to proceed.
    • Fill out the necessary information then pay.

    If you would like to apply for a GCash Mastercard online, follow these procedures:


    • Open the online order form here.
    • Fill out the required fields.
    • Pay the P150 fee via the GCash app (Click "Pay Bills," the "Payment Solutions," then select "GCash Mastercard.").

    Take note that if you apply for a GCash Mastercard via the online order form, you can expect delivery of your card within 10 days.

    If you prefer an over-the-counter GCash Mastercard application, here is what you have to do:


    • Go to Ministop, Lawson, All Day, Robinsons Business Centers, and select 7-Eleven outlets, and check for availability of GCash Mastercard.
    • If it is available, you can proceed to buy a GCash Mastercard for only P150.

    How to link your PayPal account to GCash


    If you have a PayPal account, you can link it to your GCash. If you have done so, you can easily move money from PayPal to GCash.

    To do this, here is what you have to remember:

    • Your first and last names must match in both your PayPal and GCash accounts.
    • Your PayPal account must be set up locally i.e. in the Philippines.
    • Your PayPal account must be personal (non-business).
    • Your GCash account must be fully verified.

    Once all these conditions are met, you can now link your PayPal to your GCash by doing the following:

    • In your GCash account, click the menu on the upper left corner of your dashboard.
    • Your profile will then appear. Choose "My Linked Accounts."
    • Select "PayPal" then key in the PayPal email address that you are linking to your GCash account.
    • The app will redirect you to the PayPal login page. Input your credential and proceed to login to PayPal.
    • You will be notified via the GCash app and an email message if you have successfully linked your PayPal to your GCash. Once linked, you can now transfer money from PayPal to GCash.

    To cash in via PayPal, select "Cash-In" from your dashboard, then choose "PayPal" from the "Remittance" tab. Enter the amount (minimum of P500) that you wish to add to your wallet.

    How to link your Payoneer account to GCash


    GCash is giving its users another way to cash in to their account with the ability to link to Payoneer. As a Payoner user myself, this is good news because I can just easily transfer my funds to GCash. I don't have to go through a bank to get my Payoneer funds.

    To do this, you just have to go through the following steps:

    • Log in to your GCash account.
    • In the dashboard, click "Cash In".
    • Click the "Manage" link in the upper right hand corner. 
    • Click "Payoneer" from among the choices then log in to your Payoneer account
    • You will be prompted if the connection was successful.
    • To transfer money, click "Payoneer" in your list of linked accounts. Key in the amount that you want to transfer, click "next," and finally, click "confirm." Crediting of the funds is almost instant. 

    How to transfer money from GCash to a bank account


    Aside from being able to load your GCash account via bank transfer, you can also send money from GCash to a bank account.

    To do this, you just have to select "Bank Transfer" from your GCash dashboard and then proceed to transfer money to any of these banks and financial services companies:

    • Allbank (A Thrift Bank), Inc.
    • Asia United Bank Corporation
    • Bangko Mabuhay (A Rural Bank), Inc.
    • Bank of the Philippine Islands
    • BDO Network Bank
    • BDO Unibank, Inc.
    • BPI Direct BanKO, Inc., A Savings Bank
    • Bank of Commerce
    • CTBC Bank (Philippines) Corporation
    • Cebuana Lhuillier Rural Bank, Inc.
    • China Bank Savings, Inc.
    • China Banking Corporation
    • DCPay Philippines Inc.
    • Dungganon Bank (A Microfinance Rural Bank), Inc.
    • Development Bank of the Philippines
    • East West Rural Bank, Inc.
    • East West Banking Corporation
    • Equicom Savings Bank, Inc.
    • G-Xchange, Inc.
    • ING Bank N.V.
    • ISLA Bank (A Thrift Bank), Inc.
    • Land Bank of the Philippines
    • Malayan Bank Savings And Mortgage Bank, Inc.
    • Maybank Philippines, Inc.
    • Metropolitan Bank and Trust Company
    • OmniPay, Inc.
    • PayMaya Philippines, Inc.
    • Philippine Business Bank, Inc., A Savings Bank (PBB)
    • Philippine Veterans Bank
    • Partner Rural Bank (Cotabato), Inc.
    • Philippine Bank of Communications
    • Philippine National Bank (PNB)
    • PNB Savings Bank
    • Philippine Savings Bank (PSBank)
    • Philippine Trust Company
    • Quezon Capital Rural Bank, Inc.
    • Rizal Commercial Banking Corporation
    • Robinsons Bank Corporation
    • Sterling Bank of Asia, Inc. (A Savings Bank)
    • Security Bank Corporation
    • Sun Savings Bank, Inc.
    • UCPB Savings Bank
    • Union Bank of the Philippines
    • United Coconut Planters Bank
    • Wealth Development Bank Corporation  

    What are the current GCash Promos?


    Yes, GCash also offers exciting promos to encourage users to sign-up and use the app. For ongoing deals and promotions, you may check out GCash's promo page.
      

    Epilogue 


    So those are the three reasons why I think GCash is a good budgeting tool. I am glad that I have discovered it and that I tried it for myself. I hope you get to see and try the beauty of financial technology, too, such as GCash. It provides so much convenience and security to users.

    Do you use GCash? How is your experience? Share them in the comments section below.

    This post may contain affiliate links, including those from Amazon Associates, which means that if you book or purchase anything through one of those links, we may earn a small commission but at no extra cost to you. All opinions are ours and we only promote products that we use.
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    11 comments

    1. Since Lumabas talaga tong Gcash Sobrang Laki na ng naitulong nito San ka man Sulok ng Pilipinas . Even in Any Country basta You are Globe User Daming Benefits, ang Maitutulong nito Sayo, At talagang Mas makakasave ka Sa PagGagastos Mo, Pati sa Pagbabayad ng mga Online Shopping, pagsend ng Money Thru Bank, pagLoload na hindi Mo na need pmunta pa ng tindahan at pwede mo rin Iwithdraw Anywhere.. kaya super thankful talaga kasi nagkaron ng ganitong App...

      ReplyDelete
    2. Very helpful talaga sa panahon ngayon ang Gcash. Halos lahat online transactions na. Laking tulong din pala ito sa budgeting. Bongga talaga ng Gcash.

      ReplyDelete
    3. actually ngayon lang po nag ka pandemic po ako naging aware sa g cash😁 at natuwa po talaga ako sa mga kanya niyang gawin🥰 hassle free talaga siya pedeng pedeng gamitin pambayad ng mga payments na no need ng lumabas ng bahay at pag mag grocery ka pede mong gamitin pang bayad👍 thank you po sa pag share kung paano gumawa ng g cash account🥰🤗

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    4. Gcash User her . 🥰 Sobrang laking tulong po talaga nitong Gcash. Matagal ko napong gamit ito.. Dahil dito mas napapadali po kasi kami sa pag babayad, mapa kuryente, tubig, at bayad sa Wifi pwedeng pwede po sya dito. Less hassle narin talaga dahil hndi mona need pang lumabas ng Bahay mas Magiging safe kapa.. At hindi lang yun pwedeng pwede rin syang ipambayad sa tuwing ikaw ay mag gogrocery at Hndi mo narin need pang pumunta ng tindahan para lang mag paload dahil pwedeng pwede rin talaga dito sa Gcash. The best talaga itong Gcash dahil lahat ng kailangan mo ay nandito. Very convenient!! 😍🥰

      ReplyDelete
    5. I'm a gcash user as well. I agree malaki talaga ang naging role nito ngayong pandemic. Mas naging easier ang payments lalo na halos lahat na gumagamit ng gcash.
      I hope lang na tanggalin na nila yun capping sa maximum amount na pwede kang mag deposit without charges. Kuripot mode kasi ako 😅

      ReplyDelete
    6. I agree Sir Ivan GCash is one of the great ewallet so far, very convenient for paying bills, online transaction, and even good for investment. And of the best thing is that verifying your account is so very easy as long as you have a valid ids etc.

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    7. Gcash is really amazing and I have been using it for 2 years. Its really amazing to use gcash because the convenience for paying bills, and online transaction that they offer. This is also a big help this time of pandemic to have a cashless transaction which way safer.I really agree to that top 3 reasons why Gcash is a perfect budgeting tool.

      ReplyDelete
    8. We have this app,we've been using it for so long 💙 it was very convenient to use,yes you are right,it was actually great

      ReplyDelete
    9. I like the reasons that you have listed, gcash is really useful nowadays. Lately, baligtad naman po ako. Mas napapagastos ako pag nasa gcash ang pera ko, mas madali kasing mag top up sa shopee heheh 😅

      ReplyDelete
    10. Thanks for sharing po dadi iv , GCASH User din tlga ako , very helpful po tlga itong budgeting tool kse control natin lahat and very convenient tlga ❤️😍 (Joaquin Eli Bacod)

      ReplyDelete
    11. True po that Gcash is a great tool for cashless payments (it turns your mobile phone into a wallet!), a necessity these days when contactless transactions and social distancing are the norms. Gcash is a big help to all.

      ReplyDelete

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