The verification process (also known as the Know-Your- Customer or KYC process) is required by the Bangko Sentral ng Pilipinas. It is a one-time validation of a GCash userís identity. When you are verified, you will be able to send money to other GCash subscribers, use mobile banking methods to Cash-In, and do Cash-Out transactions.
Your transactional limits will also change: 1. maximum wallet funds increases from Php40,000 to Php100,000; 2. American Express Virtual Pay total spend limit of Php5,000 is lifted and is then subject to your wallet balance; and 3. Load purchase daily limit of Php500 increases to Php20,000.