GCash introduced a new product on 5 November 2025, called the GCash Virtual US Account.

The feature enables Filipinos to receive US dollar payments and remittances directly into their GCash e-wallet. It does so by bypassing the need for a US-based bank account.

GCash aims the service at Filipino freelancers, gig workers, and remittance recipients, who often face costly fees and delays in accessing their funds.

The global payments network Meridian1 powers the GCash Virtual US Account. GCash designed it to reduce platform fees and foreign exchange costs.

“With the GCash Virtual US Account, GCash users can hold US dollars and only convert to Philippine pesos when they need to,” said Paul Albano, GCash General Manager for International. “This enables them to avoid unnecessary fees and convert their money at their most favourable time.”

Users can instantly receive transfers from the US into their e-wallet.

They can then hold the USD or convert the funds into Philippine pesos at competitive exchange rates, all within the GCash app. Fully verified GCash users are eligible to open an account.

The feature is launching in a market where the US is a top remittance source. According to the Bangko Sentral ng Pilipinas, 40% of cash remittances from January to August 2025 came from the US.

Meridian Payments US issues and maintains the virtual accounts. GCash clarifies that these are not bank accounts and do not qualify as deposits; therefore, deposit insurance schemes do not cover them.

Featured image by olanod via Freepik.