Nearly every Filipino has one of these two apps installed — most have both. But GCash and Maya are not the same kind of product wearing different colors. One is an e-money wallet with a savings marketplace bolted on; the other is a wallet built on top of a fully licensed digital bank. That distinction changes where your money is actually protected, what it earns, and which app deserves the bulk of your balance.
✅ The short answer:
GCash wins on everyday spending, bills, and QR payments — it's the wallet nearly everyone already accepts.
Maya wins as your actual bank: PDIC-insured savings with historically higher yield, plus the better pick for freelancers and international transfers.
In practice: keep only small, spendable cash in GCash, and park the bulk of your money in Maya. Hit Maya's monthly missions and the 15% p.a. rate on your first ₱100,000 works out to about ₱15,000 extra per year (roughly ₱1,250/month gross, less once the 20% withholding tax on interest applies).
Section 1
What Each App Actually Is
Both run under Bangko Sentral ng Pilipinas (BSP) oversight, but they hold different types of licenses — and that's the root of almost every other difference on this page.
GCash
OperatorMynt
License typeE-money issuer (EMI)
Users94M+
Backed byAnt Group (Alipay)
Known forMerchant reach
Maya
OperatorVoyager Innovations
License typeWallet + full digital bank
Users50M+
Backed byTencent (WeChat)
Known forSavings yield
Both apps have Chinese tech giants as backers. GCash's operator, Mynt, is about one-third owned by Ant Group, the company behind Alipay. Maya's operator, Voyager Innovations, counts Tencent — the company behind WeChat — as a major shareholder. Both are exporting the same "super-app" model that works in China: payments, savings, credit, and merchant tools in one app. That growth push is real — Mynt filed for a $1.5 billion IPO in 2026, targeting an $8 billion valuation, the largest tech listing in Philippine history.
Worth knowing: despite the Chinese backing, your money in either wallet stays governed by Philippine law and BSP oversight, not Chinese regulation — Ant and Tencent are minority financial investors, not operators of the local entity.
Section 2
Quick Comparison
Here's how the two stack up feature by feature. Treat this as a starting point — both apps adjust fees and promo rates often.
Feature
GCash
Maya
Same-app transfers
Free
Free
InstaPay to a bank
₱10 flat per send
₱10 flat per send
OTC cash-in (7-Eleven, etc.)
Free up to ₱8,000/month, then a fee
Fee applies; sometimes waived with activity
Savings product
GSave, via partner banks (CIMB, UNO)
Maya Savings, directly with Maya Bank
PDIC coverage
Wallet: no · GSave: yes, to ₱1M
Wallet: no · Savings: yes, to ₱1M
Built-in credit
GCredit / GLoan — up to ₱125,000
Maya Credit / Flexi — up to ₱50,000
Merchant / QR reach
Largest in the Philippines
Smaller footprint
Just updated (July 2026): Under BSP Circular No. 1238, which requires banks and e-wallets to price interbank transfers at actual "switch cost," both GCash and Maya cut their InstaPay fee from ₱15 to ₱10 in early July 2026. A few banks went further — BPI and RCBC now waive InstaPay fees entirely. Interest rates and promo boosts still shift often — Maya also cut its base savings rate back in April 2026 — so confirm current terms in-app before deciding where your money goes.
Section 3
Is Your Money Actually Safe?
This is the part most comparisons get vague about. The key distinction: your default wallet balance and your savings balance are not protected the same way.
1
Your default GCash or Maya balance
This is e-money, not a bank deposit. BSP requires both companies to back every peso in user wallets with secure, liquid assets kept separate from company funds — but it is not PDIC-insured. If the company failed, you'd be relying on that safeguarding rule, not deposit insurance.
2
GSave (GCash)
Your money physically sits with a partner bank — CIMB or UNO Digital Bank, among others. Because it's a real deposit account with a real bank, it's PDIC-insured up to ₱1 million per depositor, per bank.
3
Maya Savings
Maya Bank, Inc. holds a full BSP digital banking license — the same category of authority as a commercial bank. Money in Maya Savings or Maya Time Deposit is a direct bank deposit, PDIC-insured up to ₱1 million.
4
Day-to-day security
Biometric login, OTP verification, device binding, and real-time fraud monitoring are standard on both. Neither can reverse a transfer once you've confirmed it — that part is on you.
The practical takeaway: keeping ₱2,000 in your wallet for daily spending is fine either way. Keeping ₱200,000 sitting in the default wallet instead of GSave or Maya Savings is the mistake — move anything beyond pocket money into the insured product.
Section 4
Fees & Costs
Beyond the headline InstaPay rate in the table above, a few fees are easy to miss:
✓ No Charge
GCash Cash-In, Under ₱8,000/mo
Over-the-counter cash-ins at 7-Eleven and partner outlets are free within the monthly cap.
✓ No Charge
Maya-to-Maya & PESONet
Transfers to another Maya user, and next-banking-day PESONet transfers for larger amounts, stay free on Maya.
⚠ Fee Applies
GCash P2P Past 500 Sends/Month
GCash-to-GCash transfers are free for the first 500 sends and 500 receives each month; high-volume "power users" pay ₱5 after hitting that limit.
⚠ Fee Applies
Dormancy Fees
An unused e-wallet can quietly accrue a monthly dormancy fee on either platform — check current terms if you're stepping away.
Section 5
Pros & Cons
Beyond what's already in the table above, here's what actually tips the decision either way:
GLoan starts as low as 1.59% per month with higher ceilings and longer terms than Maya's loan options
Deep integration with Lazada, Shopee, and bills payment
GSave does pay interest too — CIMB's base rate is 2.3% p.a., UNO's is 3–3.5% p.a., with occasional bonus promos on top
Cons
GSave's rate depends on whichever partner bank you pick, and tops out well below Maya's headline rate
GLoan's advertised 1.59% rate is flat interest, not effective — the real monthly cost runs closer to double; its separate GCredit line runs 5–7% per month depending on your activity
So many bundled features (loans, insurance, investing, games) that core actions can be harder to find
Maya
Pros
Base rate of 3% p.a., boostable up to 15% p.a. on the first ₱100,000 by completing monthly "missions"
Maya Personal Loan starts as low as a 0.77% monthly add-on rate (~1.4% effective) — genuinely cheap if you're approved
Cleaner "banking app" feel — invoice tracking, virtual and physical Visa card
Built-in crypto trading and competitive international transfer rates
Cons
The 15% rate only applies to the first ₱100,000 and requires hitting monthly spend/deposit missions — miss them and you're back to 3%
Loan approval tends to be stricter, so it's less of a reliable fallback if you need cash fast
Maya Easy Credit, its short-term revolving option, runs closer to 3% per month plus a service fee — pricier than the Personal Loan
Section 6
Who's It Actually For
🎓
Student or First-Time User
Best fit: GCash
You need something everyone else already has — for splitting bills, paying for load, and buying from sellers who only take GCash QR. Ubiquity wins here.
🏦
Saver Building an Emergency Fund
Best fit: Maya
A direct bank deposit with PDIC coverage and historically stronger yield makes Maya Savings the more natural home for money you're not touching for months.
✈️
OFW Family Receiving Remittances
Best fit: GCash
Wider partner network with remittance centers and pawnshops abroad, plus the receiving relative almost certainly already uses it for daily spending too.
💻
Freelancer Paid by Overseas Clients
Best fit: Maya
Better-suited for tracking project income, generally more competitive international transfer rates, and a "business account" feel GCash doesn't aim for.
🏪
Small Sari-Sari or Online Shop Owner
Best fit: GCash
More customers already have it installed, which means fewer lost sales at checkout. Merchant reach matters more than a slightly better savings rate.
🔀
Anyone Managing Real Money
Best fit: Both
Running both costs nothing extra. Use GCash as your spending and bills layer, and Maya Savings — or GSave — as where money actually rests. Most heavy users in the Philippines already do this.
For your everyday wallet balance, BSP rules require both companies to keep user funds fully backed in segregated, liquid assets — but this isn't the same legal guarantee as PDIC insurance. Money sitting in GSave or Maya Savings, by contrast, is a genuine bank deposit and is PDIC-insured up to ₱1 million. That's the strongest reason to keep large balances in the savings product rather than the default wallet.
Neither wins outright — it depends on your habits. Both now charge the same ₱10 flat InstaPay fee after a July 2026 BSP-driven price cut, so that's no longer a differentiator. GCash tends to be cheaper for frequent small cash-ins; Maya is generally cheaper for international transfers and keeps Maya-to-Maya and PESONet transfers free. Check the current fee schedule in-app rather than relying on last year's numbers.
Not strictly — but there's no real cost to running both, and it removes the single point of failure of relying on one company for both spending and savings. Most people who use either app seriously end up with both installed within a year.
Maya's base rate is 3% p.a. (boostable to 15% p.a. on the first ₱100,000 via monthly missions), versus GSave's 2.3% p.a. with CIMB or 3–3.5% p.a. with UNO. Maya's ceiling is higher, but it's conditional — GSave's plainer rate is easier to actually earn without hitting spend targets every month. Compare the current rates in each app before parking a large balance, since these change often.
BSP Circular No. 1238 took effect July 4, 2026, requiring BSP-supervised banks and e-wallets to price interbank transfers closer to actual "switch cost" rather than a flat markup. GCash and Maya both cut their InstaPay fee from ₱15 to ₱10 in response, while BPI and RCBC went further and waived InstaPay fees entirely. Expect more institutions to follow — it's worth rechecking your go-to app's fee page every few months.
GCash, in most cases — its QR and merchant network is the largest in the Philippines, meaning fewer customers who can't pay. Maya is still accepted at a growing number of outlets, so it isn't a bad backup, but merchant reach is GCash's clearest advantage.