How to Avoid Bank Transfer Fees?

Bank transfer fees are fees digital banks charge to transfer your money from Bank A to Bank B. It can be likened to gas fees (for crypto transactions) or fares (for daily transport). Even though most banks nowadays charge fee for this service, some waive these fees up to an extended period to help us Filipinos recover from the pandemic. If you are able to avoid those fees as much as you can, imagine the possible savings you might get. As they say, "A small leak can sink a big ship." Those small bank transfer fees when you accumulate may also come up to a big chunk of money. So here are the apps that let you continuously avoid these bank transfer fees. Let's dig in! 1. Grabpay - This is my go-to app when making FREE transfers. HOW TO CASH-IN TO GRABPAY FOR FREE? You can do it via Grabpay app! - via linked physical card (i.e. Gcash Mastercard) - or virtual card (i.e. Maya Visa or Mastercard) or - linked bank accounts (i.e. BPI or Unionbank). Cash-ins are also free via these methods. HOW TO TRANSFER TO OTHER BANKS FOR FREE USING GRABPAY? - Just go to Grabpay, choose 'Transfer', then transfer to 'Other Banks' or 'e-Wallet'. Don't have Grabpay account yet? Enjoy perks of getting rewards (different tiers) that can be redeemed for vouchers or items each time you buy load, pay bills, or use your Virtual Grabpay card. They also have ongoing promotions that let you earn points faster or win prizes. Sign-up here 2. CIMB Bank - This is one of the country's emerging digital banks that partnered with Gcash via its Gave feature. HOW TO CASH-IN TO CIMB FOR FREE? You need to use Gcash and have a Gsave account. - For BPI, Load to e-Wallet, then choose Gcash - From Gcash, deposit to Gsave HOW TO TRANSFER TO OTHER BANKS FOR FREE USING CIMB? - Open CIMB Bank app, making sure your Gsave account was linked. - Choose 'Bank Transfer' - Free transfers via Pesonet (usually there's a cutoff time, around 6 pm on weekdays, post-cutoff transactions will be processed on the next business day. Don't have Gcash yet? Register and enjoy Php 50.00 worth of freebies and perks through Ali Rewards and the convenience of accessing their financial services such as loans, investments, insurance, and more! Sign-up here Install CIMB Bank app here: Google Play: ↪️ Install

App Store: ↪️ Install 3. Getgo Rewards - This partner app of Unionbank allows you to earn rewards every time you use your Getgo Pay Virtual or Physical Card. They have a 'Pay' feature that also allows you transfer to other banks for FREE. HOW TO CASH-IN TO GETGO REWARDS FOR FREE? You need to have an existing BPI or Unionbank Account. If you have a Unionbank GetGo Debit or Credit card, it must be linked or added to your Get Go rewards as well. - For Unionbank, you can transfer to a GetGo card for Free - For BPI, you can choose 'Load to e-Wallet' and choose GetGo HOW TO TRANSFER TO OTHER BANKS FOR FREE USING GET GO REWARDS? - Just go to the 'Pay' option on the Go Rewards app. You can get a GetGo Rewards Account and register for their virtual card by signing up here: Google Play: ↪️ Install App Store: ↪️ Install Alternatively, you can get a Unionbank GetGo Credit or Debit physical card that you can link to Go Rewards app by signing up here: Google Play: ↪️ Sign-Up use code: UBNOW-NT1052882 App Store: ↪️ Sign-Up and use code: UBNOW-NT1052882 4. Shopee - One of the top online-selling platforms also offers digital banking solutions. HOW TO CASH-IN TO SHOPEEPAY FOR FREE? - via linked bank accounts (ie Unionbank or BPI) - via linked physical or virtual cards (ie Gcash Mastercard or Maya Visa/Mastercard) HOW TO TRANSFER TO OTHER BANKS FOR FREE USING SHOPEEPAY? You can do it directly via Shopee app! - just use the 'Send Money/Transfer' feature. If you don't have Shopeepay yet, register here and get 100 Shopeecoins you can apply on your future purchases and Php 50 off on your next purchase. They have an ongoing promotion where you can earn Php 200 just by transferring Php 50 to another e-wallet/bank account using Shopee pay. We hope you also get to enjoy the banking conveniences and savings these digital wallets have to offer. See you in our next financial tips video!


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