In a recent advisory, the Bank of the Philippine Islands (BPI) announced that its mobile banking app will no longer support the “Load E-Wallet” service for GCash and Maya, starting February 13, 2025.
Moving forward, BPI users who need to load their GCash and Maya accounts will have to use the “Transfer to Other Banks” feature on the BPI app or BPI Online.
This change is in line with the National Retail Payment System Framework established by the Bangko Sentral ng Pilipinas (BSP), as per BSP Circular 980 and the Philippine Payments Management, Inc. (PPMI) Advisory No. 2024-1104-020.
To load GCash and Maya accounts, users need to select the “Transfer to other banks” option on the BPI app, choosing G-Xchange for GCash and Maya Philippines Inc/Maya Wallet for Maya. The interbank funds transfer will go through Instapay and PESOnet, with a transfer fee of PHP 25.
Alternatively, both e-wallets can use the “Cash In” feature within their respective apps to load through other banks, over-the-counter transactions, and through other financial channels.
BPI’s move is expected to streamline e-wallet loading processes and ensure compliance with regulatory standards. Stay tuned for more updates.
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