711 gcash cash in fee: Learn the convenience charges
The Gcash e-wallet has grown in popularity, especially with Filipinos, during the pandemic. It lets you send money to Gcash users and bank accounts easily. But, every time you cash in at 711 Gcash cash in fee
Starting May 17, 2021, a 1% fee is charged for adding money at 7-Eleven. For example, if you add ₱500, you’ll only get ₱495 in your account. Add ₱10,000, and you’ll see ₱9,900. This fee is the same for all amounts added at 7-Eleven and CLiQQ stores.
Introduction to GCash and 7-Eleven Cash-In Services
The GCash mobile wallet is now a daily essential for many Filipinos, especially with COVID-19 changing how we live You can use this app to send money or add it to your bank account. It’s easy to use. At the same time, people have started to rely on the 7-Eleven CLiQQ platform. It lets you do more than just top up your GCash.
The popularity of GCash in the Philippines
GCash is everywhere in the Philippines, making money management and transactions simpler for everyone. It lets you do many things, like sending cash to family, paying bills, and shopping at certain stores.
Convenience of Cash In Services at 7-Eleven
Adding funds to your GCash is easy with the 7-Eleven CLiQQ Kiosk and CLiQQ app around. There’s a big network of 7-Eleven stores, so you can do it when you’re out and about. This makes managing your digital wallet a breeze while you shop or run errands.
711 gcash cash in fee
711 Gcash cash in fee: Understanding the Charges
Digital wallets like GCash are getting more popular in the Philippines. It’s key to know the fees for using it. The convenience fee for GCash cash-ins at 7-Eleven stores is an important note.
1% Convenience Fee on All Transactions
Since May 2022, 7-Eleven and CLiQQ have charged a 1% convenience fee on all GCash cash-ins. So, if you put P500 into your GCash at 7-Eleven, you’ll get P495 in your account, with P5 going as the fee. The same goes for putting P10,000 in, you’d get P9,900, with P100 deducted as the fee.
Examples of Fee Calculations
Let’s use some numbers to show how this 1% fee works at 7-Eleven:
| Cash in | Convenience fee | To be received by user |
|---|---|---|
| Php100.00 | Php1.00 | Php99.00 |
| Php200.00 | Php2.00 | Php198.00 |
| Php500.00 | Php5.00 | Php495.00 |
| Php1,000.00 | Php10.00 | Php990.00 |
| Php5,000.00 | Php50.00 | Php4,950.00 |
| Php10,000.00 | Php100.00 | Php9,900.00 |
The 1% fee is always the same, no matter how much you put into GCash at 7-Eleven.
Alternative Cash-In Methods to Avoid Fees
The 1% convenience fee on GCash cash-in transactions at 7-Eleven stores can add costs. So, it’s smart to look for ways to avoid these charges. One way is to link your bank account directly to your GCash app.
Linking Bank Accounts with GCash
Connect your Bank of the Philippine Islands (BPI) or UnionBank account to GCash for free real-time fund transfers. This way, you skip the 7-Eleven fee.6 BPI allows up to PHP 50,000 daily, and UnionBank goes from PHP 10,000 to PHP 100,000 a month for new users.
Other Over-the-Counter Cash In Partners
If bank linking isn’t for you, there are over-the-counter cash-in partners that do not charge a convenience fee. Options include Ministop, LBC, Alfamart, and more like Cebuana, Villarica, and others.
Looking into these methods can help you avoid the 1% fee. This keeps more of your money in the GCash wallet.
Conclusion
The 1% convenience fee on GCash cash-in transactions at 7-Eleven started in May 2022. Yet, you can avoid this fee and save more money. Just link your BPI or UnionBank account to your GCash app for free, instant fund transfers. These banks let you cash in for free.
Moreover, many places for over-the-counter cash-ins don’t charge fees. These include Ministop, LBC, Alfamart, and several others. You can find the complete list in the GCash app.
It’s key to keep up with any fees and check out other cash-in spots that save you money. By researching and planning, you can pick the top cash-in choices for you. This way, you make the most of GCash’s conveniences without hurting your wallet too much.
