GCASH, the country’s leading mobile wallet powered by Globe, is now offering GInvest which is an investment product that lets you invest for as low as Php50, with no commission or sales fees. But is it worth it?
My GCASH Experience
Back in May 2021, this writer invested Php1,500 on GInvest while writing the GInvest guide article for Business News Philippines. The small investment was something I did to test the system and check whether my money will actually grow (or not) using GInvest.
But just a little over 1 month later, I withdrew my money. Here are my reasons:
- I badly needed some cash.
- My money didn’t see any growth the past month, only losses.
Of course, investments like this aren’t guaranteed and it’s always possible to incur losses unless you’re willing to let your money sit until you get a good interest rate before you withdraw.
Lessons from My GInvest Experience
My time with GInvest was really short, but it made me realize some things – not just about investing on GInvest but investing in anything, whether another investment vehicle or a business.
Lessons and insights that I learned from my GInvest experience:
- Only invest money that you’re willing to lose because interests are never guaranteed. Just like me, you might end up losing some (or even all!) of your money.
- Only invest your extra cash or, like me, you’ll end up withdrawing your investment if you badly need some cash. That said, make sure to build your emergency funds first.
- Be patient. Your money won’t grow overnight. It could take a couple of months, even a year (or years!) before you can see some profits. I wasn’t able to wait because I needed the money.
- Things aren’t as quick as GCASH promises it to be. Though GCASH says it’s easy to do it, the investment was actually processed and accepted after 5 working days – and withdrawal took 7 banking days! There are no fees, but getting your money back isn’t going to be quick.
- Because I withdraw my money early, I ended up incurring losses instead of gaining any interest. My initial Php1,500 investment ended up becoming just Php1,488.82 when I withdrew it.
So, do I recommend GInvest and will I invest again? Well, I’d take up my own advice and build my emergency fund first before trying to invest again.
But if you have some extra cash, then you can wait for your money to grow before you withdraw it – and that might mean you’ll gain some profits from this investment vehicle.