GCash clarified what Send Money Protect can and cannot do.
To fight online scammers and fake transactions, GCash launched its Send Money Protect feature. This GInsure feature has an unfamiliar mechanic to many that led to some confusion.
You can easily use Send Money Protect by enabling it during money transfer via Express Send. It’s designed to protect GCash users from online fraudulent activities like social engineering, account takeover, and online shopping fraud; more details here.
But what does “protect” mean if you get victimized by any of these fraud types? Users protected by Send Money Protect are insured of ₱15,000 but the fraud case must be proven first. Meaning, they have to report that a fraud took place and GCash needs to approve it.
This is what probably confused people thinking they’ll get a 15K worth of refund if something happens. GCash clarified that Send Money Protect is an insurance feature for transactions.
That said, the feature won’t unsend money once it has been sent to the recipient. If a user has accidentally sent money to someone while Send Money Protect is enabled, it won’t return their money. If that’s a result of a scam, they have to go through the process of a claim.
“At GCash, we make sure to be relentless in strengthening our trust and security initiatives – from utilizing top-notch cybersecurity technology and AI-powered systems, to ensuring our customers are educated through our GSafeTayo campaign,” said Winsley Bangit, GCash vice president and group head for new businesses.
When a user is successfully victimized by fraud, they must file a police report as part of filing a claim on GCash, among other requirements.
GCash Send Money Protect costs ₱30 and it protects a user’s transactions for the whole month, not for each transaction.
