FACT CHECK: GCash ‘advisory’ on Money Protect as refund feature is fake

Claim: Financial services app GCash’s new feature, Send Money Protect, allows users to request a full refund of their money transfers within 30 days. 

Rating: FALSE

Why we fact-checked this: Since January, several Facebook users and online sellers have been posting a supposed advisory from GCash discouraging the use of the Send Money Protect feature. The posts are accompanied by the caption, “I will not accept any GCash payment with the ‘Send Money Protect’ feature activated.” One such post made on February 9 has gained 36 reactions, 10 comments, and 7 shares as of writing. 

The posts claim that since senders can request a full refund of their money transfers, online sellers may end up being scammed and funds withdrawn from their accounts after providing their products or services.

The supposed notice uses the GCash logo and bears the text “GCash Announcement,” making it look like a legitimate advisory from the company. 

The facts: In an advisory on its official Facebook page on February 10, GCash debunked the fake notices using the company’s logo. 

The company also clarified that Send Money Protect is an insurance product for users to protect themselves against scammers and fake sellers, and is not a transaction refund or reversal product. It also assured online sellers that the product “cannot be used as a refund mechanism by your customers who pay through GCash Express Send.”

According to the GCash help center, “Refund of items transaction with a merchant or seller depends on the decision between the customer and merchant/seller only.”

Addressing the fake advisory’s warning that refunds to money senders would be taken from the recipients’ funds, GCash said that its partner insurance company, Chubb, will cover claims and payouts for those who availed themselves of the insurance policy.

Protection against scams: Send Money Protect is an optional and voluntary insurance product that allows users to insure money transfers to other GCash accounts. Users can be reimbursed up to P15,000 if they fall victim to social engineering, account takeover, or online shopping fraud. (READ: GCheck these tips to spot phishing scams)

Previous false claims: Rappler has fact-checked similar false claims about GCash:

• FACT CHECK:  GCash ‘advisory’ on removal from app stores is fake
• FACT CHECK: SIM card registration won’t cause your GCash account to lose money

Official news: For official updates, visit GCash’s accounts on Facebook, X (formerly Twitter), and Instagram. – Chinie Ann Jocel R. Mendoza/Rappler.com

Chinie Ann Jocel R. Mendoza is a graduate of Rappler’s fact-checking mentorship program. This fact check was reviewed by a member of Rappler’s research team and a senior editor. Learn more about Rappler’s fact-checking mentorship program here.

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