Adding money from your Security Bank to GCash is easy and free of charge!
The coronavirus pandemic made us more reliant on digital banking and cashless transactions.
I both have Security Bank and GCash accounts since 2018. Clients can pay me through any of the two for my freelance projects. Our family also ventured into selling during the quarantine and we use my accounts for receiving payments for food orders at Diday & Dely as well as study table orders. It gives my parents fewer reasons to go out and expose themselves just to pay bills or send money.
Recently, netizens were abuzz with the news of 2.58% convenience fee of the total amount for Visa/Mastercard bank card cash in starting July 6. I received the advisory on June 27 via SMS. I reached out to Security Bank’s Facebook page early this week and was told that cash-ins will incur charges as mentioned by GCash…
…until I saw their mobile banking app update.
The new app added an Interbank Fund Transfer feature which lets users send money to over 30 banks and e-wallets such as GCash! Transactions are free or incur a minimal charge up to P50 and are processed in real-time c/o Instapay. This feature is on top of the existing account management, bills payment, fund transfers to SBC bank accounts, send cash via SMS (eGiveCash), and prepaid reload.
How to cash in your GCash via Security Bank mobile app for FREE
If you’re a new user, please download the Security Bank Mobile App on Google Play, App Store, or Huawei App Gallery. Existing users should update their app to the latest version to use the Interbank fund transfer. Ready? Follow these simple steps:
STEP 1: Log in using your Security Bank online banking username and password OR your 5-digit quick login code.
STEP 2: Open the menu on the left and click Transfers.
STEP 3: Go to Other Banks.
STEP 4: Fill out the details.
4.1: Under FROM, select your source of funds.
4.2: Do the following under TO:
Bank: choose “GCASH”
Account Name: type in the registered GCash name of the recipient (e.g. your name if you will cash in into your GCash)
Account Number: type in the associated mobile number to the GCash account
Amount: type in the corresponding amount
STEP 5: Click the “OFF” slider to agree with Instapay terms & conditions.
STEP 6: Click SUBMIT to proceed.
STEP 7: Enter the SMS code (OTP) to verify the transaction.
STEP 8: Review the details and click “CONFIRM” to process the transaction. The app will display a confirmation page plus SMS alerts from both services.
And that’s it! You were able to cash in your GCash account for FREE via your Security Bank account. Time to do some online shopping, invest in UITF, save more money and earn green energy points to plant a tree on your name 🙂
Do you have any questions? Let me know in the comments section below.