Ernest Cu, the president and chief executive officer of Globe Telecom Incorporated, ensured that no money was lost from their GCash e-wallets as they were able to promptly restore these funds within 24 hours.

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G-Xchange Incorporated, the entity operating GCash, rectified an alleged error in their system reconciliation process which occurred last Saturday.

"It's a reconciliation issue that some wallets were debited inadvertently. Now what is most important and what we should all focus on is that whatever errors occurred, they were rectified very quickly," Cu stated in a virtual media briefing.

"No consumer lost any fund. The accounts were restored within 24 hours and corrections were indeed made on the process that will ensure that this does not happen again," Cu added.

On the other hand, the Central Bank of the Philippines (BSP) has stated they will investigate the incident involving GCash and invited its customers to promptly report any issues they might still be encountering with their GCash. Customers can send messages via BSP Facebook Messenger: @BangkoSentralngPilipinas or through the BSP website: www.bsp.gov.ph

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They also tasked G-Xchange Incorporated to submit regular updates on their actions regarding this issue.