Digital banking platform GoTyme has announced an update to its bank transfer fees.
GoTyme Transfer Fee
Beginning January 13, 2025, the bank will implement a “Pay One, Free One” system for transfers to other local banks and e-wallets.
Under this new scheme, users will pay an PHP8 fee for the first transfer, while the next transfer will be free. This cycle will reset with each new transaction, effectively bringing the average transfer cost to ₱4 per transaction.
Currently, they still allow users to make up to three free bank transfers per week. However, this policy will be replaced by the “Pay One, Free One” model in the new year.
In addition, the digital bank is offering a limited-time 5% per annum interest rate on savings accounts. This special rate will be available from January 1 to February 28, 2025.
GoTyme users, what do you think of this upcoming change? Share your thoughts with us!