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 wallet 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.
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 from the Globe network. This is like having your wallet in your smartphone. It provides you that trouble free and safe way to go cashless.
Should I Save Money in GCash
It’s understandable to ask for the safety of your money and in this case, if you should keep money in Globe. Well, you can save money in GCash. But don’t put all of your money in the app. What I mean here don’t put your money all in Globe for a long time.
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 money in GCash longer than 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 the app, you’ll see your dashboard and options available to your verification level.
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 easy and 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 or so. 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 in 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.
GCash Product and Services
AMEX Virtual Pay
Request MoneyCard Transactions
As soon as you’re fully verified, get yourself a GCash Mastercard. Though you can order it and have it delivered, I would suggest that get it directly from Globe Store if you don’t want long waiting time.
You’ll be asked to fill out the form and present a valid government ID. You need to pay a one-time fee of PHP 150 for the card.
After getting the card, simply link the card to the app. You can see the option “Gcash Mastercard” under “My Liked Accounts” from the dashboard.
You can use the GCash Mastercard as an online credit card if you want to make online purchases. 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)
Withdraw Money from GCash
You have several options for withdrawing money from GCash.
You can withdraw over-the-counter transactions at GCash outlets in SM or Robinsons. Though I tried to do this and cashiers don’t know how to cash out or let you remit money from GCash account. You can also withdraw in 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’ll have to fall on long lines.
My recommendation in withdrawing from GCash is you transfer GCash funds to RCBC account or GCash MasterCard.
RCBC is a good option if you have an account there since as of this writing, there’s no withdrawal fee. If you transfer to BPI, I believe there’s a P10 feel on your ATM. I don’t’ like BPI ATMs based on past experience since they always constant down ATM systems.
As for me, I like to use Gcash Mastercard and withdraw just like an ATM Card. The PIN that you will use on the ATM is the MPIN (4-digit number) your using on the app. Withdrawal charges vary based on the bank ATM that you will use.
Having a GCash Mastercard is a great option if you need to withdraw from GCash account either from a remittance or payment you received.
Changing Personal Information
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 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.
❤ By the way, if you have not sign up in GCash just yet, you can do so in the following link. You and I both get P50 worth of freebies! Just register here: https://gcsh.app/r/t8pZlKf