1. Q: What is GCredit auto-deduction?
A: GCredit auto-deduction is designed to help you avoid additional interest and penalty charges due to late payment. Auto-deduction will only be in effect if you still have not fully settled the outstanding balance from your GCredit account.
2. Q: How does GCredit auto-deduction work?
A: To help you manage your GCredit payments, we will automatically deduct your outstanding GCredit balance from your GCash wallet, cash-in and incoming transactions on your due date.
3. Q: What transactions will be affected by the auto-deduction?
A: The auto deduction will have an impact on your current GCash wallet balance and in the event that the GCash wallet balance is not enough to settle the GCredit balance, we will then automatically deduct from your cash-in and incoming transactions (as listed below).
|
Transaction |
Timing |
|
Cash-In |
Immediately after a cash-in transaction if the GCash wallet balance is still not sufficient to pay for the total GCredit balance. |
|
Transfers (Receive Money) |
Immediately after receiving the money if the GCash wallet balance is still not sufficient to pay for the total GCredit balance. |
|
GSave Withdrawals, GInvest Redemptions |
Immediately after the transfer of money from GSave and/or GInvest account, if the GCash wallet balance is still not sufficient to pay for the total GCredit balance. |
|
GCash Cashbacks |
Immediately after receiving the money if the GCash wallet balance is still not sufficient to pay for the total GCredit balance. |
4. Q: Will I be notified prior to the auto-deduction?
A: Yes, an SMS notification will be sent in advance to remind you of the need to settle your outstanding GCredit balance. Auto-deduction will only be in effect if you still have not fully settled the outstanding balance from your GCredit account. Likewise, a similar message will be shown in the Manage Credit screen in the GCash app.
5. Q: What will be the impact of auto-deduction to other GCash features?
A: Since we will be automatically deducting the outstanding GCredit balance from your GCash wallet, cash-in and incoming transactions until the balance is fully settled, this will essentially impact your intention of using other GCash features such as Send Money, Buy Load, Invest Money, Save Money, etc.. With this, we highly advise you to make sure that you fully pay your outstanding GCredit balance on or before your due date to avoid any inconveniences
6. Q: Is there a way for me not to be enrolled in GCredit auto-deduction?
A: The auto-deduction only applies to customers who fail to settle their outstanding GCredit balance on time. This is to help customers avoid additional interest and penalties.
7. Q: Where can I find the details of all auto-deduction transactions?
A: Details of all deductions will be seen in the GCash app Inbox and GCredit Transaction History. You will also receive an SMS notification for every auto-deduction done to your GCash wallet.
8. Q: What should I do when there are issues with the auto-deduction?
A: Please submit a ticket to our Help Center so our customer service representative can immediately assist you with your concern. Click here to submit a ticket.
9. Q: Is this auto-deduction legal?
A: The GCredit auto-deduction is aligned with the Terms and Conditions which you accepted when you activated your GCredit account. Click here to review the Terms and Conditions.