- GCash launches new UK/EU Bank Cash In feature, enabling Filipinos abroad to easily link international bank accounts and send faster, cheaper remittances to the Philippines.
- The feature, developed in partnership with Thunes, reduces fees, speeds up transactions, and offers real-time access to funds for a smoother remittance experience.
What happened
GCash, the Philippines’ leading finance super app, is expanding its international reach with the launch of a new UK/EU Bank Cash In feature. This move aims to simplify remittance transfers for the approximately two million Filipinos living in Europe. From November, overseas Filipinos in the UK and Europe can easily link their international bank accounts to GCash, enabling faster and more convenient money transfers to the Philippines.
Sending money from the UK and Europe to the Philippines has traditionally been complex, with high fees and several intermediaries involved. The new feature promises to reduce costs, speed up transactions, and offer competitive exchange rates. Users will also benefit from real-time access to funds, making the remittance process much smoother.
Paul Albano, GCash International General Manager, stressed the company’s commitment to supporting Filipinos abroad. “GCash hopes to meet their needs and help them stay connected with their loved ones, as a trusted digital finance partner created by Filipinos, for Filipinos,” he said. This development is made possible through GCash’s collaboration with Thunes, a global payment network. Thunes CEO Floris de Kort highlighted the innovation of the partnership, saying, “Through Thunes’ Direct Global Network, we are delivering an instant top-up service that simplifies cross-border transactions.”
GCash’s growth continues, with the app now recognised as the Philippines’ first and only $5 billion unicorn. The company has recently attracted investments from Mitsubishi UFJ Financial Group (MUFG) and Ayala Corporation. This further solidifies its commitment to financial inclusion. Albano concluded, “We want to make life easier for Filipinos abroad by finding more convenient ways to help them send money back to their families.”
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Why it is important
The launch of GCash’s UK/EU Bank Cash In feature is a significant step. It plays a key role in simplifying remittance transfers for Filipinos living in Europe. With around two million Filipinos residing in the UK and Europe, this feature provides a seamless way to send money home. As a result, it offers a more convenient solution for overseas Filipinos. Traditionally, transferring funds to the Philippines from these regions has been complicated, involving high fees and multiple intermediaries. By linking international bank accounts directly to GCash, users can now enjoy lower costs and faster transactions. Additionally, they will benefit from real-time access to funds, making the process more convenient. This move is crucial for improving the remittance experience. It ensures that families in the Philippines receive their money quickly and affordably.
GCash’s collaboration with Thunes further enhances this service, ensuring a smooth, instant transfer process. As GCash continues to grow and expand its services, it strengthens its position. This growth solidifies its role as a key player in promoting financial inclusion. The company is also providing crucial support to Filipinos both at home and abroad.
