GCash Partners With CIMB For GSave Accounts As They Also Celebrate 500,000th Customer

Bringing in to the age of digital banking, GCash partnered with CIMB Bank Philippines (CIMB Bank PH) in a recent service called GSave which is special feature in the app that allows customers to save up more easily with a high interest rate.

CIMB Bank PH is a digital bank that started its operations early 2019 and has quickly gaining customers with the ease of creating accounts and managing it via mobile. GCash meanwhile expands their services from providing mobile accessibility to Filipinos with the app which can do a lot of functions such as buying load, mobile debit card for online transactions, paying bills online, and recently plant trees through the GForest project.


Tengku Dato’ Sri Zafrul Aziz, Group CEO, CIMB Group, who was in Manila to celebrate this milestone said, “CIMB Bank PH is surely the fastest growing bank in ASEAN, a wonderful achievement, and a strong testament of things that can be achieved in the regime of digital-only banks. We are motivated by this and will continue to innovate for our customers. Well done to the teams.”

In line with this, CIMB Bank PH and GCash also announced that the GSave bank account will be exclusively offered only on the GCash platform. The companies also said they will be working together to make added suites of financial services products available to GCash customers in the future. These services will be announced in due course. 

Zafrul added, “The partnership with GCash was central to us achieving this milestone. It is a live case study of bank-tech partnerships, a combination of banking expertise and technology platform plays, and the opportunities it allows both parties to access. I look forward to developing more propositions with GCash to further establish our mobile banking presence in the Philippines.”

Anthony Thomas, President and Chief Executive Officer of GCash affirmed its shared mission with CIMB Bank to increase accessibility of financial products and services for all Filipinos. “The acquisition of 500,000 users is a clear testament that the partnership between GCash and CIMB Bank through GSave is a success. We welcome this achievement and the deepening of our collaboration with CIMB Bank, and assure our users that we will continue to provide more innovative services to address the banking and financial needs of Filipinos who aspire for financially better lives for their families.”

They also revealed that they reached their 500,000th customer, Siegfred Barcelona. For this milestone they awarded him the prize of P500,000. This is impressive especially for a service that just started 6 months ago, though they do not pressure themselves to hit a million by the end of the year. 

Another advantage of the GSave Account is the high interest rate that they offer. They provide 3.0%* annual interest for the deposit and they can also set reminders to save regularly. The exclusive interest rate for GSave account holders are available until December 31, 2019.

GCash users can now apply for the GSave account via their verification process through the app which they can start saving. It does require an initial deposit and maintaining balance which makes it a worry-free service. 

GCash is an epayments platform owned by Mynt, the revolutionary fintech startup of Globe Telecom, Ayala Corporation and Ant Financial, an affiliate of Jack Ma’s Alibaba Group.