In the Philippines, many have turned to the country’s leading finance super app and largest cashless ecosystem #GCash for their savings. #GSave has become an attractive platform for around 10 million Filipinos and counting because of its easy-to-use interface, quick application, and a chance to earn interest rates of around 2.6%.
Now, GCash is expanding GSave to international mobile numbers in partnership with the most awarded digital-only commercial bank CIMB Bank–providing overseas Filipinos with a digital savings tool made especially for them.
“Life as an overseas Filipino can be demanding, with a significant portion of income often going towards remittances. GCash understands this struggle and wants to empower them to save for their rainy day in case of emergency or that one day when they’ll finally come back home,” said Paul Albano, General Manager, GCash International. “GSave offers a safe and convenient way to grow their hard-earned money, ensuring financial security for the future.”
“As a digital-only bank, CIMB is proud to partner with GCash to empower overseas Filipinos with seamless, secure, and accessible financial solutions,” said Vijay Manoharan, CEO of CIMB Bank Philippines. “With GSave, we are helping Filipinos in select territories abroad to build a solid financial foundation, ensuring that their hard-earned money not only grows but is protected for the future they dream of. This collaboration underscores our shared commitment to financial inclusion and the well-being of all Filipinos.”
GSave makes saving easier for Filipinos overseas by offering a wide range of benefits, including: competitive interest rates, which allows them to earn a baseline interest rate of 2.6% on their savings—up to 10x more compared to other Philippine banks; no minimum balance requirement; additional up to 25% interest p.a. through CIMB’s booster offers; and security and reliability, since GSave accounts are insured by PDIC for up to Php500,000, providing overseas Filipinos peace of mind for their hard-earned savings.
Overseas Filipinos in 16 territories can easily open a GSave account, with these simple steps: 1) Download GCash and register with their international mobile number; 2) open the GCash app and go to GSave on the dashboard; 2) Select “Open a Savings Account” and fill out the required information; and 3) make the first deposit and start saving.
"We understand the challenges faced by our Filipino heroes abroad," said Albano. "The launch of GSave on GCash Overseas strengthens our commitment to their financial health and wellness. With GSave, they can save for unexpected emergencies or even their dream of returning home with a secure financial cushion."
As GCash celebrates its 20th anniversary this year, it is committed to bringing digital financial inclusion to more Filipinos, wherever they may be.
To date, GCash is available in 16 territories, encompassing where 90% of Filipinos are, such as the United Arab Emirates, Saudi Arabia, Kuwait, and Qatar in the Middle East and the United Kingdom and Italy in Europe. Overseas Filipinos can use GCash with their international mobile phone numbers where they live and work