GCash, the country’s biggest fintech app, announced they are setting a ‘Send Money’ transaction limit until May 12, 2025. Normal transactions will resume immediately the day after the elections on May 13, 2025.
The action aims to prevent vote buyers from using the popular e-wallet solution for their illegal activities as the 2025 midterm election season approaches, in compliance with COMELEC Resolution No. 10946 (Kontra-Bigay).
GCash also didn’t disclose the exact daily limit citing security and compliance with COMELEC. However, they said the customers would receive an error notification once they reached the limit.
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The transaction limit may cause inconveniences to some customers and businesses, as they will have to try again the following day.
The Ayala-led fintech company also assured that it had taken measures to monitor suspicious transactions in its app and would report them to the regulators.According to Section 29 of the COMELEC Resolution 11104, “Any unusual transaction flow between accounts, digital banking and digital wallets, including unusual large cash withdrawals involving the amount exceeding Five Hundred Thousand Pesos (P500,000.00), encashment of checks, during election period, which have no underlying legal/trade obligation, purpose or economic justification, or the amount involved is not commensurate with the business or financial profile of the client, shall be considered suspicious transactions of vote-buying and vote-selling.”