GCash GGives to Cash – As a GCash user, you may already be familiar with the many features this digital wallet offers, such as paying bills, shopping online, sending money, and even making investments. One of the most useful features introduced by GCash is GCash GGives – a flexible payment option that allows you to shop now and pay later. But what happens when you want to convert your GCash GGives balance to cash?
In this guide, we’ll walk you through everything you need to know about how to cash out from GCash GGives, and provide tips and insights for an easy and secure transaction. Whether you need the money for an emergency or prefer physical cash, this guide will help you make the most of your GCash account.
What Is GCash GGives?
GCash GGives is a buy-now-pay-later (BNPL) service that allows you to make purchases and pay for them in instalments. It’s a popular feature for those who want to shop on GCash partners and break down payments into smaller, manageable amounts. GGives can be used for purchases at various merchants, ranging from e-commerce platforms to offline stores.
Once you make a purchase using GCash GGives, the amount is added to your GCash GGives balance, which you then pay off over time. But what if you need to cash out from your GGives balance and convert it into real money? Here’s how you can do it, and what to keep in mind.
Can I Cash Out GCash GGives to Cash?
In the traditional sense, GCash GGives is designed for purchasing goods and services with deferred payments. The GGives balance is meant to be paid off over time, rather than withdrawn as physical cash.
Unfortunately, you cannot directly cash out your GGives balance as you would with a regular GCash wallet balance. The GGives feature works like a credit facility, so it’s not available for direct withdrawals. However, there are a few strategies and workarounds that may help if you need to access cash.
Let’s explore the most effective ways to handle your GCash GGives balance and, if necessary, convert it into cash or a usable balance.
How to Use GCash GGives for Purchases
Before exploring the cash-out options, it’s important to understand how GCash GGives works for its primary purpose — purchasing goods and services. If you’re using GGives for online shopping or paying for services in instalments, here’s how you can benefit from it:
- Open the GCash App: Log in to your GCash account and ensure your GGives feature is activated. You may need to undergo a verification process.
- Choose a Partner Merchant: GCash GGives is available at various partner merchants, both online and offline. You can browse the list of participating stores in the app.
- Select GGives at Checkout: Once you’ve selected your items, choose GGives as your payment option at checkout. You’ll be asked to select a repayment term that suits you.
- Complete Your Purchase: After confirming your payment plan, the total amount will be split into instalments, and you can pay as per the agreed schedule.
GCash GGives offers flexibility, making it a popular option for purchases, but remember, it’s intended for shopping and not for cash withdrawals.
Alternative Ways to Convert GCash GGives to Cash
Even though you can’t directly cash out your GCash GGives balance as cash, there are a few indirect ways to access physical cash or use the funds more flexibly. Here are the options available:
1. Use GCash GGives to Pay for Purchases and Sell the Item for Cash
One creative workaround to convert your GCash GGives balance to cash is to use the service to purchase a product, then resell the item for physical cash. Here’s how this might work:
- Select an Item to Buy Using GGives: Choose a product that you can resell easily in your local market, such as electronics, gadgets, or fashion items.
- Buy the Product Using GGives: Complete the purchase using your GCash GGives option. Choose a repayment plan that suits your financial situation.
- Resell the Product: Once you have the item in hand, you can sell it online or to friends and family for cash.
- Use the Cash for Your Needs: Once you’ve sold the product, you’ll have access to physical cash that you can use for your expenses.
This method may involve some risk (such as not being able to sell the item or sell it for less than you paid), so it’s important to only purchase items that have a high resale value.
2. Use GGives to Shop for Gift Cards
Another indirect method to convert your GGives balance into something that can be easily used or converted into cash is to purchase gift cards from participating merchants using GGives.
- Look for Participating Merchants: Some merchants allow you to buy gift cards or e-vouchers through GCash GGives.
- Buy a Gift Card: Use your GGives balance to buy a gift card, which can be used for online purchases or exchanged for products.
- Sell the Gift Card: Once you have the gift card, you can sell it online through platforms that allow users to exchange or sell gift cards for cash.
- Receive Cash: After the transaction, you’ll receive cash for the gift card value, which you can now use freely.
3. Pay Someone Else via GCash and Get Cash in Return
If you have a friend or family member who has a GCash wallet and is willing to accept your GGives balance as payment, you can pay them via GCash and request physical cash in return.
Here’s how it works:
- Pay the Person via GCash: You can use your GCash GGives balance to send money to your contact.
- Request Cash in Return: Once the transaction is complete, ask your friend or family member to withdraw the funds from their GCash account through one of the available methods (e.g., ATM, partner outlets).
- Get Cash: After they withdraw the funds, they can give you the cash directly.
This method relies on the trust and willingness of others to facilitate the exchange. Ensure that the person you’re dealing with is reliable before proceeding with this transaction.
4. Transfer to Bank Account and Withdraw at an ATM
If you have linked a bank account to your GCash account, you can transfer your balance from GCash to your bank and then withdraw it as cash.
- Link Your Bank Account: First, make sure your bank account is linked to your GCash wallet. This can be done easily through the app under the “My Linked Accounts” section.
- Use GGives to Pay for an Item or Service: Use your GGives balance for purchasing an item or paying for a service.
- Transfer Funds to Bank: Once you have paid, transfer funds from your GCash wallet (after the instalments are paid) to your linked bank account.
- Withdraw from ATM: After the transfer is complete, visit an ATM to withdraw the cash.
This method isn’t direct for GGives withdrawals, but it can be a convenient way to convert your GCash wallet balance (including payments made via GGives) into physical cash.
Key Considerations When Using GCash GGives
- Repayment Obligations: GGives allows you to buy now and pay later, but it’s crucial to remember your repayment schedule. Failing to pay on time could result in penalties or interest fees.
- Service Fees: While using GGives for purchases, keep in mind that there may be service fees involved. Always check the terms and conditions before making a purchase.
- Cash Alternatives: Since GGives is not designed for cash withdrawals, explore the alternatives mentioned above to convert your GGives balance into something more liquid.
While GCash GGives is a great tool for deferred payments, it doesn’t allow direct cash-outs from the GGives balance. However, there are creative ways to make use of your GGives purchases and, in some cases, convert them into cash through reselling items, gift cards, or peer transactions.
By understanding these methods, you can better utilise your GCash GGives balance for cash needs when necessary, all while staying within the parameters of the GCash app. Whether you’re using it for shopping or exploring ways to access physical cash, GCash GGives provides flexibility and options to meet your financial needs.