GCash vs PayMaya: Comparing Transaction Fees 2020

Gcash vs Paymaya transaction fees

Mobile wallets like GCash and PayMaya have made it easier to send and receive money these days. Cashless payments have never been so essential, especially in our new normal.

But while they offer ease and convenience, there are also transaction fees involved. Every centavo counts, so check out GCash and PayMaya’s transaction fees here and know just how much you’re being charged every time you use their apps.

Transaction GCash PayMaya
Send Money
Same platform
  • Free
  • Free
Smart Money or Smart Padala
  • N/A
  • 1.5% service charge
Online banking
  • Free on BPI and UnionBank as linked accounts
  • Other banks (Waived until further notice)
  • Free on BDO and BPI
  • Other banks (Waived until further notice)
  • Free until further notice
  • Free until further notice
  • Free until further notice
  • Free until further notice
  • Free
  • Free (above P7,000)
  • P50 (below P7,000)
Payment Partners
  • Free (list of partners)
  • 2% service charge (if the amount exceeds P8,000 per month
  • Free (list of partners)
  • 1.5% service charge on Smart Padala centers
Credit card (VISA and Mastercard
  • Service unavailable as of 06 July 2020
  • P30
Cash Out
Over the counter with withdrawal fee
  • 2%
  • N/A
ATM withdrawal
  • P20
  • P15
Bills Payment
Billers with fixed fees
  • P0 – P60
  • Varies per biller
Billers with percentage-based fees
  • 2%
  • Varies per biller
Card Purchase
Debit or prepaid card P150 P200

* These fees are from GCash and PayMaya’s official websites as of 01 August 2020

Send Money fees — GCash vs PayMaya

There are no fees when you send money within the same platform. For GCash, you can send money via Express Money and fill in the recipient’s mobile number. Alternatively, you can make a fund transfer for free with a clip and Ang Pao.

PayMaya also doesn’t charge any fees when sending money to another user. Simply fill in the recipient’s number and funds are transferred immediately.

There’s a 1.5% service charge for successful transactions on PayMaya to Smart Money or Smart Padala.

Lastly, QR code scan is available on both platforms—it’s a contactless way to pay merchants and establishments that accept GCash and PayMaya.

Cash-in fees — GCash vs PayMaya

As of this writing, there are no transaction fees for online banking until further notice. Both platforms also waive InstaPay fees when you add money.

If you link your UnionBank and BPI account to your GCash, adding money is free. PayMaya offers the same scheme, but for BPI accounts only.

Another thing worth mentioning is that GCash doesn’t require a minimum amount to transfer money from your bank. PayMaya, on the other hand, requires P500 as a base amount.

GCash doesn’t charge if you add money via PayPal. For PayMaya, there’s a service charge of P50 for transactions below P7,000.

GCash has a monthly threshold of P8,000 when adding money via their network partners. If you exceed the amount, you’ll be charged 2% for cash-ins.

On the other hand, PayMaya charges users 1.5% via Smart Money or Smart Padala regardless of the amount.

Adding money via credit card is another option. But currently, PayMaya is the only mobile wallet offering this with a service charge of P30.

Cash-out fees — GCash vs PayMaya

GCash’s 2% service charge on cash-outs with network partners might discourage you from withdrawing your money.

For ATM withdrawals, GCash charges P20 when you withdraw using its prepaid card. PayMaya, on the other hand, charges P15 for Bancnet ATM withdrawals.

Bills payment — GCash vs PayMaya

GCash bills payment service fees range from P0 to P60, if the biller is using fixed fees. Meanwhile, 2% is charged if the biller is using percentage-based fees.

For instance, GCash takes P5 for every bill you settle at SFELAPCO, a provincial-based electric company.

Card Purchase — GCash vs PayMaya

Finally, if you’re planning to get a prepaid debit card for ATM withdrawals, PayMaya’s VISA card is P200, which is more expensive than GCash Mastercard that costs P150.

So, which one has higher transaction fees — GCash or PayMaya?

For cash-ins, GCash charges higher than PayMaya if the amount is more than P8,000. So you’d rather send your money from your wallet to your linked bank account instead of withdrawing funds directly at GCash network partners.

However, if the fund transfer is less than P8,000, GCash is still the better option because there’s no charge, whereas PayMaya charges you 1.5% regardless of the amount.

PayMaya is the better option for ATM withdrawals because of their transaction fee of P15, compared to GCash’s P20.

If you’re receiving remittances via PayPal, GCash is more convenient for cash-ins because there are no transfer fees.

When it comes to overall functionality, GCash features are more robust, with more lists of billers and banks. You can even save money through its in-app GSave account.

But they are both free to download and registration is pretty straightforward. Why not sign up for both so you can enjoy the convenience of online fund transfers anytime?