GCash Introduces ‘Savings Tab’ to Encourage Filipinos to Save

 

#GCash is taking a significant step towards fostering financial responsibility among Filipinos. With over 44% of the country still unbanked, GCash has launched a new dashboard feature, the ‘Savings Tab’, to guide users to their savings with just one tap.

Darvin Sy Su, GCash Commercial Head of Wealth Management, said, “The introduction of a savings tab is our way of encouraging users to make saving a daily habit. As a finance app, we aim to help our users grow their wealth. Our partner banks offer incredibly competitive rates – between 6% and 15% per annum. This is not something traditional banks typically offer, so users can earn interest by parking their money in GSave.”

Currently, GSave, GCash’s innovative in-app savings marketplace, partners with four banks: UNO Bank, CIMB, Maybank, and BPI. These banks offer up to 6% p.a in interest rates, higher than most traditional savings accounts. This allows GSave users to maximize their savings with higher overall returns. The process is simple for fully verified GCash users, with no maintaining balance required and minimal forms to fill out.

For added convenience, GSave offers free withdrawals and deposits between users’ GCash wallets and GSave accounts. The new feature also aggregates the balances of all bank accounts within the platform, making it easy for users to monitor their savings.

To start saving with GSave via GCash, users simply need to open their GCash app and tap on the Savings Tab, which is prominently displayed on the app’s dashboard. From here, users can view the total of all their GSave accounts and quickly deposit into their GSave accounts.

With its core innovation of “Finance for All”, GCash continues to lead the way in digital financial services and solutions that truly transform and positively impact the lives of millions of Filipinos, especially the unbanked sector.

FAQs

1. What is the new ‘Savings Tab’ feature on GCash?

   • The ‘Savings Tab’ is a new feature on GCash that guides users to their savings with just one tap. It is part of GCash’s initiative to foster a culture of saving among Filipinos.

2. What are the benefits of using GSave on GCash?

   • GSave, in partnership with four banks, offers up to 6% p.a in interest rates, which is higher than most traditional savings accounts. It requires no maintaining balance and minimal forms for fully verified GCash users. GSave also offers free withdrawals and deposits between users’ GCash wallets and GSave accounts.

3. How can users start saving with GSave via GCash?

   • Users can start saving with GSave by opening their GCash app and tapping on the Savings Tab. From there, they can view the total of all their GSave accounts and quickly deposit into their GSave accounts.