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Quasi cash8/17/2023 ![]() Moreover, one redditor claimed that PayMaya charged 2% per transaction but it will “borrow” Php 200 for 2 days then return it. Quasi-cash transactions refer to a purchase of foreign currency or items, which may be convertible to cash. Rizal Commercial Banking Corporation (RCBC) charges 1% for every quasi-cash transaction. For every transaction, HSBC charges Php 200 on the category of cash advance which also refers to quasi-cash transactions and related fees. Other banks don’t have information for crypto transactions fees, however they may categorize it under Quasi-cash. ![]() On the other hand, although there is no information about service fees, BDO noted that transactions involving cryptocurrencies will no longer earn credit card points. UnionBank charges a 5% service fee on purchases of cryptocurrency as well as on quasi-cash. BitPinas encourages everyone to comment on this article so we have better information on credit card fees for crypto in the Philippines. Use this information only as a guide as the following details are subject to change at the time this article is published. Still while many have noted that they were able to successfully buy crypto using their credit cards, a lot of users noted that they had unsuccessful purchases as well.īelow is the list of banks and their corresponding credit card fees when buying crypto through their credit cards. In a thread in the subreddit PHINVEST subreddit r/phinvest, the users have listed the banks charge fees for crypto transactions the list includes UnionBank (UB), Banco de Oro (BDO) and Hongkong and Shanghai Banking Corporation Limited (HSBC).
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