ShopeePay to charge 1 percent cash-in fee for e-wallets starting this June 2!

Shopee has announced that a 1 percent admin fee will be deducted from all ShopeePay cash-in transactions made through e-wallet apps.

File photo: Shopee logo

Bye FREE cash-in to e-wallet apps starting today

This means GCash, Coins.ph, and Maya (formerly PayMaya) users might consider should start considering the new one-percent admin fee for their future transactions.

Advisory for ShopeePay users (Screenshot from the Help Center)

According to Shopee's Help Center page, the new cash-in fee will be implemented on June 2, 2022, which is today. This means that if a user will load PHP 500 via GCash, he/she would only get PHP 595 loaded into his/her ShopeePay credits.

WalasTech notes that DragonPay is the one that handles cash-in through e-wallets. Note that there are similar payment facilities that have already applied the 1 percent cash-in charge for all transactions in the past months. This includes the convenience store 7-Eleven and finance partner ECPay.

Meanwhile, Shopee posted a disclaimer that there's a workaround to avoid paying the admin fee. There's a tip that users may link their verified banking partners, including BDO, Chinabank, and Metrobank.

Another recommendation is that they opt to cash in via InstaPay for free. To perform this, just tap on the "ShopeePay Balance" icon on the app's homepage and just tap "Cash In." After that, you may select a bank and then follow the instructions.

Last April, the e-Commerce platform had changed its policy regarding vouchers. Shop only choose to waive their shipping fee or apply the discount or cashback for coins.

What do you guys think?

Source: Shopee