Here are the steps on how to transfer money from Gcash to UnionBank:
1. Log into your Gcash account through the app.
2. In the homepage, press the "Bank Transfer" option.
3. Select UnionBank from the listed partner banks.
4. Enter the amount you want to transfer. Keep in mind that the maximum amount of cash you can transfer from Gcash to UnionBank is 50,000 pesos. Your transfer should not exceed this account.
5. Enter your bank details (Account Name, Account Number). Double check these before you continue.
6. Enter your email address. The app will send a digital copy of your receipt to the email address you entered. Don't worry, this is an optional step which means you don't have to divulge your email.
7. Press the Send Money button.
That's it. You are good to go. The amount you transferred should reflect in your UnionBank account in real time or in just a few minutes. Of course, you will also receive an SMS in your smartphone with the details of the transaction.
Is there a transfer fee or transaction fee when you send money from Gcash to UnionBank. Yes. Gcash refers to this collected amount as convenience fee. But don't worry because it's not that high. You will charged 15 pesos per transaction. I repeat, per transaction. That means that if you transfer twice successively, you will be charged 30 pesos (15 x 2). With that said, as much as possible, try to transfer all the funds you need in a single transaction to save on fees.
Here's an example of the SMS you will receive as confirmation that your Gcash funds have been transferred to your UnionBank account:
"You have sent PHP 3000 of Gcash on 2021-Aug-03 to UnionBank of the Philippines account ending in 0532. Convenience fee for this transaction is PHP 15. Your new balance is PHP 55 with Gcash Ref. No. 1234567899874 and InstaPay Trace No. 123456. Thank you for using Gcash."
"You have sent PHP 3000 of Gcash on 2021-Aug-03 to UnionBank of the Philippines account ending in 0532. Convenience fee for this transaction is PHP 15. Your new balance is PHP 55 with Gcash Ref. No. 1234567899874 and InstaPay Trace No. 123456. Thank you for using Gcash."
Why You Should Send Money from Gcash to UnionBank
1. It's very easy to do and it's very convenient. As I mentioned earlier, it's just a few steps and will take a minute or two of your time. You have very little to lose.
2. It's a great way to easily replenish your UnionBank account. If you are looking for an easy source of funds for your bank account without too much hassle, transferring via Gcash is the way to go. For example, you are shopping online and you need to pay via your UnionBank card but you have short funds, you can easily send funds to it via Gcash. The funds are transferred in real time.
3. The transaction fee is very minimal. It's only 15 pesos per transaction. And remember that you can transfer funds at a maximum of 50,000 pesos.
