Shopee’s digital wallet ShopeePay had applied a 1% admin fee for cash-in transactions via e-wallet services such as GCash, Maya (formerly PayMaya), and Coins.PH, which started June 2, 2022, onwards.
This means that for a 1000-Peso transfer, 10 Pesos will be deducted. The transaction fee gets higher based on the amount the user would like to cash in.
Despite the new implementation, Shopee users can still experience free cash-ins through their linked bank accounts, which include Shopee’s verified banking partners BDO, Chinabank, and Metrobank, as well as through banking apps with InstaPay.
To avoid the cash-in fee when using linked bank accounts, tap the ‘ShopeePay Balance’ icon on the homepage, tap ‘Cash In’, select a bank partner, and follow the rest of the instructions.
What is ShopeePay?
ShopeePay is Shopee‘s digital wallet, which allows users to make cashless and secure transactions. You can use it for the following transactions:
Online transactions within the Shopee app – such as buying mobile prepaid load and bills payment
Offline QR code transactions with merchants who accept payment via ShopeePay
Receive or send money to your contacts, as well as make bank transfers for your funds to your bank account.
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ShopeePay applies 1% cash-in fee from e-wallet transactions
Source: News Updates Trends
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