Friday, October 19, 2018

GCash | The New Invest Money For as Low as P50

Last September 21, I received an automated message from GCashInvest.



Really? I can invest for as low as P50 and even thru GCash?


So I checked the GCash App to know more about it and tapped the Show More in the Home Screen.




Tapped again on Invest Money and a Registration page appeared.




I halted in this stage for a while because I want to use a different email address from what I used to register to GCash, so I had to contact them to inquire about it.

I messaged them thru GCash Care in Messenger on September 29, may konting cheche bureche pa ang GCash but the summary is yes, I can use a different email address.

And before I continued with the registration, I researched first what this is all about.

So basically, this service allows users to invest in various investment funds from GCash' partner product providers.

Their partner product provider is ATRAM Trust Corporation (ATRAM Trust), which is according to GCash' FAQ section - the first stand-alone trust corporation in the Philippines. It received its license to operate in October 2016 from the Bangko Sentral ng Pilipinas (BSP). You can learn more about them on their website (http://www.atram.com.ph/).

What happens is when a GCash user invests in an investment fund (which are pools of money from multiple investors) from ATRAM Trust, that user entrusts his/her money to a professional fund manager, who invests the money in different financial instruments like stocks and bonds.

How much you will earn will depend on the financial market performance of the investment fund you've chosen to invest to.

Like for example, if you invested P50 on Fund A and its value increased to P53, then your investment has earned P3.

But of course, that is not always the case.

It may decrease or increase depending on the market performance.

But what I learned when dealing with stocks and the like is to HOLD. If the value is decreasing and you are losing, learn to hold on to your funds and wait for it to increase. Don't panic. Don't sell your funds at a losing rate.

Well it is easier said than done. "How will we know if it will still increase?", you may ask.

Invest in a well-known company like SM, Ayala, etc.

They do experience a drop in price of their stocks, but they will surely recover and not easily close their business.

The question is, are these companies available in GCash' new offer?

Actually, I haven't explored deeply on the interface as of this writing as I just recently got my registration approved and have not got the hang of it yet.

So what I can share here is the registration process I have undergone to and how many days it took for it to get approved.

It is really easy, though.

First I changed my GCash email address (This is not a requirement. Nag-iinarte lang ako).

Good thing is, included in their latest update is the option to change the email address thru the User Profile in the app itself. No need to contact GCash Care to request for it.

I tapped on the User Profile > Email (from the previous screenshot) and it redirected me to this:



I tapped on the pencil icon next to my email address to edit it.

I entered my MPIN.




And entered my New Email Address and tapped Next.




Entered the Verification Code received in my New Email Address.




And Ta-da! Breezyyy.




Now let's get to the main part.


GCash users who can use Invest Money must be:
1) 18 years old and above (mandatory age requirement to invest)
2) Completed the Full KYC/customer verification process

If you meet these qualification then proceed to the Invest Money on the GCash app.

Choose Proceed if you don't wish to edit your User Profile.

The next screen shows some questions that you need to answer for them to be able to identify what type of investor you are (this will be your risk profile).




According to GCash Invest Money FAQ, you can either be conservative, moderate, or aggressive depending on your answers.

There are a total of 11 questions on this page.

The next screen asks you to confirm if you are a U.S. person. Just choose what applies to you and tap Next.



It shows you the summary of your answers and choose Confirm if you don't want to change anything anymore.




I messed up on the Next screen as I was focusing on reading the User Agreement (took a lot of screenshots of it as I didn't see an option to download it) and forgot to take a screenshot of the whole page. 😆



But just tap Confirm and the result of your risk profile will appear next.



Based on my answers, I am Moderately Conservative.

I did the registration on October 16, Tuesday, around 10PM so I'd have to wait for the next banking day for the result of my registration. Will I get accepted?

Come next day, I did not receive any notification until around 11PM.

I got to read the email first, which has an attachment which I believe is a guide (I haven't got to read it yet), followed by an SMS.


This was at 10:30PM but my phone updated its email around 11PM.

I checked the Invest Money option on the app to see if I have access to it already.

This is how it looks like:



When I tapped on View Investment Products, this is the only product available yet:



Tapped on View Details:




And that's all they have as yet.

I haven't subscribed to it as of this writing, but I will do so after I read some more information about it (probably the pdf they sent) and explore more.

Another good news for GCash users liker me is that.....they added an option to Send Money to Bank!!!! For FREE!!!

That definitely saves me time from going to an ATM, withdrawing (with P20 fee) and depositing it to the bank.

Probably gonna try this next!

That's all for now!

~~~~

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