Grab is making a few updates on its GrabPay e-wallet service. Starting June 6, 2022, users who will cash-in their GrabPay accounts via over-the-counter will be subject to a convenience fee. Those who will cash-in via 7-Eleven stores will be subject to a 2% convenience fee, while over-the-counter cash-ins will be subject to a Php 15 convenience fee.
Over-the-counter channels include SM Business Center, Robinsons Department store, Cebuana Lhuiller, M. Lhuiller, Palawan Pawnshop, and RD Pawnshop. To cash-in via over-the-counter, users will need to select “in-store” option, pick the store of their choice, enter their desired cash-in amount, and present the reference number to the store of their choice and pay the amount (with the additional convenience fee).
Should you want to cash-in your GrabPay account and skip the convenience fee, Grab recommends doing so via linked bank accounts from BPI, Unionbank, and BDO. For this method, users select “linked bank account” option, choose their preferred linked bank account, input their desired amount, and enter the OTP sent to their registered number to confirm the cash-in.
As an e-wallet service, GrabPay can be used for various cashless transactions beyond GrabFood, GrabExpress, and Grab rides, and is regulated by the BSP.
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