Every Money Transfer And Remittance Term You Need To Know: Letter G

Last updated: October 05, 2022

GCash Wallet

GCash is a mobile wallet that has seen tremendous popularity and adoption in the Philippines. In fact, GCash is the most widely used digital wallet in the Philippines. With GCash, you can manage your money and spending in many ways. From spending, saving and investing to gifting and sharing, there are numerous GCash services you can take advantage of.

From an international money transfer standpoint, GCash is a popular delivery method supported by many money transfer companies. As a result, you can send money to the Philippines by depositing funds directly into your recipient's GCash account.

Also see: Delivery Method, Delivery Option, Digital Wallet, Electronic Wallet, Mobile Money Transfer, Mobile Wallet
Further reading: Delivery Methods for Money Transfer
What is GCash and How Does it Work?
24 GCash Services You Should Be Aware Of
How to Send Money into GCash from Abroad
Why We Love Using GCash (And You Should Too!)

Guaranteed Exchange Rate

A guaranteed exchange rate is an exchange rate that does not change later when your transaction clears. When you send money with a remittance company, a guaranteed rate is the currency exchange rate at transaction start time, and it stays the same even though the actual transaction processing happens later.

Contrasted to a guaranteed exchange rate is an indicative or floating exchange rate which will be the rate used at transaction clearing time.

Also known as: Fixed Exchange Rate, Locked-in Exchange Rate
Also see: Exchange Rate, Floating Exchange Rate, Indicative Exchange Rate, Variable Exchange Rate
Further reading: Currency Exchange Rates: What Are They, How They Change, and More
What Is a Remittance and How Does It Work?
How To Make The Most Of Your Remittance