Do you have families outside the country and don’t know how they can remit money to you? Gcash has partnered with Remitly to make this happen.
What is Remitly?
Remitly is a money transfer service provider based in Seattle, Washington. From the US, UK, and Canada, Remitly has expanded its range to 85 countries with over 1900 locations.
You can either use the app or the website (remitly.com) to process the transaction, transferring to:
- Bank
- Pick-up
- Mobile Wallet such as Gcash
For Remitly, there is no transfer fee when transferring $1000 or more. For transactions less than $1000, you will be charged $3.99 on top of the amount transferred.
For Gcash, cash out fees may apply.
Remitly to Gcash
Step 1. Open your Remitly app. Tap on Get Started.
Step 2. Choose the transfer method for the receiver.
Step 3. Key in the amount that you will transfer. The amount will be automatically set to the local currency of the recipient.
Step 4. Select the delivery method — (select Mobile Money for Gcash). Enter the information being asked such as your email address.
Step 5. Enter the recipient’s personal details. For Gcash, please enter their First and Last name and Gcash registered mobile number.
Ensure that the Gcash account is fully verified for a smooth transaction.
The receiver will be notified via the phone number you entered on the transaction.
Step 6. Fill in all the necessary information:
- Name (as it appears on your ID)
- Phone number
- Registered mailing address
- Date of birth
Step 7. Make the necessary payment by entering your bank details (debit or credit card or other payment method).
Step 8. Check the details of your transfer. The page includes the information you entered and estimated delivery date of the money transfer. In case you need to make some changes, click on Edit.
Step 9. Once you are ready to transfer, choose Send Money.
Step 10. Wait for the confirmation page to ensure that the transfer process is successful. You will receive a confirmation receipt of your transfer request. And the recipient will also be notified of the transaction.
Remitly to Gcash Pros and Cons
Pros:
- Transferring funds from Remitly to Gcash is a quick and convenient way to send money to the Philippines. There is no need to visit a bank or remittance center; you can do it from the convenience of your own home.
- Low fees – Remitly’s transfer services have low fees, making it an affordable option for people who wish to send money to the Philippines.
- Remitly provides reasonable conversion rates, ensuring that your loved ones in the Philippines receive as much money as possible.
- Secure – Remitly employs cutting-edge security procedures to safeguard your financial data, so you can rest certain that your funds are in good hands.
Cons:
- Gcash is not as commonly accepted as other payment methods in the Philippines, which can be a disadvantage for some users.
- Gcash fees – While Remitly charges low fees for their transfer services, Gcash fees can accumulate over time for specific transactions.
- Fluctuations in the exchange rate – Because exchange rates can be unpredictable, the amount your loved ones receive may fluctuate based on the current exchange rate.
How can I track my transfer?
To check the status of your transfer, follow these steps:
Via Remitly App
Log in to your Remitly app.
Check on the dashboard as it automatically provides you with the money transfer list.
Via Remitly.com
Log in to your Remitly account.
On the meny, choose Transfer History.
For the most recent transfer, click on the transaction to check the details. You will see the status of the transfer.
Different Transfer status details
CANCELED
Remitly can cancel any transaction. All charges and fees will be refunded back to you.
IN REVIEW
Remitly, or other providers, are reviewing your request. Verify if they are requiring additional documents to be submitted.
ON HOLD
Your request is on hold and here are the possible reasons why:
- Identity verification
- Pending increase request for sending limit
- Inaccurate information about the recipient
- Delivery provider temporarily unavailable
Should the account be on hold, Remitly sends an email together with instructions on what to do next.
IN PROGRESS
The transfer is on its way and will arrive as scheduled.
DELIVERED
The transfer has been completed. No other actions required.
Conclusion
Transferring money from Remitly to Gcash is a quick, straightforward, and inexpensive option to send money to the Philippines. Although there are certain disadvantages, such as limited payment possibilities and Gcash fees, the advantages outweigh the disadvantages. Due of Remitly’s low costs and reasonable exchange rates, as well as Gcash’s convenience and security, it’s a perfect alternative for anyone sending money to the Philippines.
Check this other option to send money to Philippines: How to Send Money to GCash from WorldRemit Step-by-Step.
Last modified: February 18, 2023
