COVID has boosted the use of e-wallet services such as GCash. In the current environment, cashless transactions are safer and more convenient.
While most of us have money in GCash for various purposes, we still require physical currency for a variety of other activities.
I’ll show you how to withdraw or cash-out money from your GCash account in this article.
How do I cash out or withdraw money from GCash?
We’ll go over each of the three methods for withdrawing money from your GCash account.
Make a withdrawal from an ATM.
The most common method of withdrawing money from GCash is through ATMs. You will, however, require an actual GCash Mastercard to use an ATM. By the way, the card isn’t free; it costs Php 215 to obtain.
Nonetheless, I would advise you to acquire one. Regular payments and online transactions are both possible with the GCash Mastercard.
If you already have a physical GCash Mastercard, you can use it like any other ATM card to withdraw funds. You should be aware that depending on which ATM you use, you will be charged recurring withdrawal costs.
The funds will be transferred to an ATM savings account, from which you will be able to withdraw.
An ATM savings account is another option. You can transfer money from your GCash to your banking account with Instapay if you have a bank account with an ATM card. The money can then be taken out of the ATM.
Partner Stores over-the-counter
You can withdraw cash over-the-counter (OTC) from partner stores countrywide if you don’t have a physical GCash Mastercard or another ATM account.
OTC withdrawals from GCash are accepted at the following institutions:
- Jaro Pawnshops
- ExpressPay Payment Centers
- TrueMoney Payment Centers
- Posible Payment Centers
- SM Department Stores
- Robinsons Department Stores
- PeraHUB Pawnshops
- Villarica Pawnshops
- Tambunting Pawnshops
Here’s how to withdraw money over-the-counter from GCash.
- Inform the cashier that you would like to withdraw or cash out from your GCash wallet. Some institutions will ask you to complete a brief form or piece of paper.
- Give them your phone number as well as the amount you want to withdraw.
- Present a valid ID.
- To confirm your transaction, you will receive an OTP by SMS.
- Get the withdrawn cash from the cashier once you’ve confirmed.
That is all there is to it. You’ve completed the task.
E-wallet services such as GCash and PayMaya remain one of the most convenient and secure methods of payment. It’s quick, cashless, and you can do it all from your phone. However, make sure you have some cash on hand just in case.