How to Cash Out Your Lazada Wallet (Non-Withdrawable) Balance to GCash

How to Cash Out Your Lazada Wallet (Non-Withdrawable) Balance to GCash

I admit I am already losing hope in affiliate marketing. I’ve been trying it as part of the original revenue model for this blog, but it’s not yielding good results. Most of the revenues come from ad placements and sponsorships. 

With the SiteGround Referral Program, for example, I have convinced only one to sign up for the web hosting. I was rewarded a three-month free hosting, and that was years ago. 

I was also contacted back then by an Asian marketing company to join its affiliate marketing program for local credit cards, but I declined the offer because I doubted I could make referrals and hit the targets. 

How to Redeem Citi Credit Card Referral eGifts as Lazada Wallet Top-Ups

Just a few days ago, however, as I was going through some unread SMS, I came across a UnionBank text message about a Citi credit card referral e-gift (by the way, Citibank PH’s SMS are now channeled through UnionBank, its local operations acquirer). 

The SMS read, “You can now redeem your P5,000 eGift from your Citi credit card referral. 1) Visit 2) Input your details & this unique promo code XXXXXXXX. 3) Redeem at preferred merchant using the code you received via SMS/email. Promo code is valid for 60 days. T&C apply. DTI160212S23.”

Then, I remembered that I have also been running Citi credit card affiliate marketing in which referral links are embedded in some of my articles on credit cards.

If you still haven’t been approved for a Citi credit card, either Citi Rewards or Citi Simplicity+, which may suit your spending needs and preferences, you might want to apply through this referral link for higher chances of approval. 

So I got curious about the message and searched the whole inbox for the same SMS with the keyword ‘eGift.’ I was surprised and didn’t know I had already received two. 

It was worth PHP10,000 and wasn’t bad for an additional passive income. I started to process the redemption of the e-gifts and tried to figure out how I would convert them to cash.

As I clicked on the provided link, I was redirected to a page where I had to give details such as email, mobile number, last six digits of my Citi credit card, and of course, the redemption codes from the SMS. 

After that, I got to choose among the available e-gifts, such as SM Gift Pass, UNIQLO, Zalora, Lazada, and others. I even had the option to allocate a certain amount per e-gift, but I decided on an all-out redemption into Lazada wallet top-ups.

Clear instructions were given, so there was no chance of getting lost in the process. It was just that the PHP10,000 worth of e-gifts was in PHP500 denominations, so I had to copy and paste both unique codes and OTPs over 20 times before the whole amount was credited to my Lazada Wallet. Sometimes, OTPs were sent late, so I had to request a resend.

In less than an hour, I successfully redeemed all the e-gifts as Lazada Wallet deposits or top-ups, only to discover that I could not withdraw them directly through GCash.

Most articles online say that Lazada Wallet balance can anytime be cashed out to GCash, but the truth is, there are two types of Lazada Wallet deposits — the withdrawable and non-withdrawable — and e-gifts are just non-withdrawable.

Withdrawable Versus Non-Withdrawable Deposits (Lazada Wallet)

Withdrawable Deposits can be withdrawn or transferred from your Lazada Wallet to your bank account and other channels, including top-ups from bank accounts, Instapay, e-wallets, etc.

Non-Withdrawable Deposits cannot be withdrawn or transferred from your Lazada Wallet, including Lazada Gift Cards and loans, rewards, benefits, etc., issued by corporate partners.

How to Cash Out Lazada Wallet (Non-Withdrawable) Balance to GCash

So, it seemed that my only option was to spend the PHP10,000 Lazada Wallet balance on the e-commerce platform, but I really wanted it in good cash, and I just discovered a way to do so. 

I checked on the platform and found out I could buy GCash Top-Up Vouchers (SMS eVouchers) in PHP1,000 denominations from one of Lazada stores — Share Treats. 

I tried placing an order and was happy that the SMS e-Voucher code was sent in real-time, as in a few seconds. Then, I had to copy it to the link provided. It was successful, so I had another batch of codes to copy and paste for the rest of the e-vouchers.

HOWEVER, Share Treats charges a fee of PHP80 per PHP1,000 eVoucher, so I was able to cash out only PHP9,000 (with PHP720 total fee) while PHP280 was left in my Lazada Wallet. From my GCash account, I transferred the cash-out amount to my bank account for a fee of PHP15.

Read also:

12 Best Gift Certificates, Gift Cards, and e-Gifts in the Philippines Today. This article lists the top 12 gift certificates and gift cards (physical and digital) that are the best options as gifts to loved ones for various special occasions. 

How to Protect Yourself from Online Shopping Scams in the Philippines. This article provides 20 ways and measures to protect ourselves from falling victim to online shopping scams and fraud that are common in the Philippines today.

7 Lucrative Side Income Ideas You Can Start Today. This article lists seven side hustles that can be worth trying and pursuing to earn additional income while keeping a regular day job. 

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