Wise vs GCash 2025 - 2025
Wise is a specialist provider offering multi-currency accounts, cards and international transfers all around the world. GCash is a super popular local provider which has a great PHP ewallet and card for spending, as well as options for loans, investments and more.
If you want to manage your money day to day, and receive payments from overseas, either may suit you - but both Wise vs GCash have their own features and fees which can help you decide the best fit for your needs.
Read on for everything you need to know about Wise vs GCash including a comparison of fees and features side by side, looking at international transfers, accounts, and cards.
Table of contents 📕
- The verdict: Which is better, Wise or GCash?
- About Wise and GCash
- Wise vs GCash: which is cheaper?
- Wise vs GCash: which is faster?
- Wise vs GCash international transfer limits
- Sending large amount transfers
- Wise vs GCash card
- Wise vs GCash business
- Supported currencies
Summary: Wise lets you hold 40+ currencies, receive payments in 20+ currencies, and spend globally with the mid-market rate and low fees. You can also send money internationally to banks. GCash supports PHP only, and doesn't allow overseas bank transfers - but does have extras like loans and investments for Filipinos.
Wise vs GCash: side by side
Feature | Wise | GCash |
|---|---|---|
Send domestic payments | Send to bank accounts and wallets like GCash and Maya | Send to bank accounts via Instapay, and to PHP ewallets |
Send international payments | ISent to 40+ countries | You may be able to send a GCash transfer from the Philippines to a GCash user overseas - transfers to banks are not supported |
Receive international payments | Y - receive in 20+ currencies | Y - receive incoming remittances in PHP via a selection of GCash partners |
Multi-currency accounts | Available for 40+ currencies | N |
Debit card available | Y | Y |
Loans and credit available | N | Y |
Fully licensed and regulated | Y | Y |
Open a business account | Y | Y |
So, to summarize:
Wise offers domestic and international transfers to banks and ewallets, GCash supports domestic payments to banks and ewallets, and may allow some overseas GCash to GCash payments
Wise has an account to hold and convert currencies - GCash accounts hold PHP only
Wise and GCash both have a debit card you can use for payments and cash withdrawals
Both providers are fully regulated, and offer both personal and business services
GCash is primarily designed for use in the Philippines, for people who want to hold, send, spend, borrow and invest in PHP. You can receive international remittances from loved ones overseas, spend and withdraw with your GCash card, and also pay internationally with a QR, through GCash’ partnership with Alipay. If you're looking for a way to send money from the Philippines to someone overseas, you may be more limited with GCash. GCash does not support international transfers to banks. They do, however, allow overseas Filipinos to open a GCash account, so if you have a GCash account in the Philippines you might be able to make a GCash to GCash transfer to someone who’s overseas.
Wise supports local PHP payments and card spending, and comes with ways to receive money in PHP and other currencies. Wise also allows outward overseas payments to bank accounts, and has mid market rate currency conversion when you send, spend or convert in your multi-currency account - which may make this a strong option if you regularly travel or need to send and receive payments in foreign currencies often.
The important bits
Wise | GCash | |
|---|---|---|
Rates | Mid-market exchange rate with no markup Conversion from 0.57% | Network rate applies for card spending If conversion is needed when receiving a remittance, rate is set by the remittance partner |
Fees | No ongoing account fees Low transfer fees, varies by destination No fee to spend a currency you hold in your account | No ongoing account fees Some fees may apply on ATM use, and for cashing into your account |
Speed | 60%+ of transfers are instant (completed under 20 seconds), 80%+ are delivered in less than 1 hour* | Instapay transfers to PHP can be very fast International transfers to banks are not supported |
Service | Online, in app and by phone | Online, in app and by phone |
Regulation | Fully regulated and licensed | Fully regulated and licensed |
Reviews (Trustpilot) | 4.3 Star, Excellent rating, from 265,000+ reviews | Not available |
Rates: Wise uses the mid-market rate for conversion when you send, spend or convert in your account. GCash rates may be set by remittance partners, or the network in the case of card spending
Fees: Neither provider has ongoing account fees. Wise has variable transfer fees which are based on the destination country, GCash fees include ATM charges and possible cash in fees
Speed: Wise payments can be instant or very fast - GCash does not offer international transfers but PHP payments are made through Instanet and can be instant
Service: Both providers offer service online, in-app and by phone
Regulation: Both providers are fully licensed and regulated
Reviews: Wise has a 4.3 Star, Excellent rating, from 265,000+ reviews, GCash does not have a claimed account on Trustpilot
Pros and cons
Wise | GCash |
|---|---|
✅ Send money to 40+ countries ✅ Hold and exchange 40+ currencies ✅ Receive money from overseas with local and SWIFT account details | ✅Full service app covering PHP savings, investment, cards and ewallet ✅Receive remittances from loved ones in PHP ✅Loan services available |
❌ Loans and credit are not available ❌Transfer fees apply | ❌You can’t send money to an overseas bank ❌No multi-currency features |
The verdict: Which is better, Wise or GCash?
While Wise and GCash have some similar features, there are also some big differences in service offerings which may make them suited to different customers.
Wise is a full feature international account and card provider, which allows you to hold 40+ currencies, receive payments in 20+ currencies, and spend around the world using the mid-market exchange rate. You can use your Wise account for day to day payments in the Philippines - but it’s also great for international payments, or for travel.
GCash is a Philippine based financial app which offers holding accounts in PHP only, with a really good range of ways of receiving remittances through GCash partners, deposited in pesos. GCash also offers loans, credit, investments and a broad range of other local services which Wise does not. GCash isn’t quite as optimised for international use as Wise, and doesn’t offer ways to send money to banks overseas - plus the exchange rates used for spending or incoming remittances may include fees.
Wise can be a great option if you travel, need to send money overseas, or prefer to receive your international payments in the original currency and manage the conversion yourself. GCash might be a better pick if you want loans, investments and other more complex PHP services, and want to keep your money in pesos only.
About Wise and GCash
Wise is a specialist in international accounts which can hold 40+ currencies, receive payments in 20+ currencies, and send payments to 40+ countries. You can open a Wise account from many countries and regions, making this a good choice for anyone living an international lifestyle.
GCash is a Philippines based financial service platform which serves 94 million Filipinos, spread across 200+ countries, with ways to spend, save, borrow and invest. GCash is popularly used as a way of remitting money from overseas back to loved ones in the Philippines, and works with remittance partners and banks to allow an easy flow of money into the Philippines.
How do they work?
You can sign up for a Wise account with your laptop or phone, by uploading an image of your ID and address document for verification. Once you have a live account you can order a debit card, send global payments, and get local and SWIFT account information to receive payments from abroad in foreign currencies. Wise can be handy if you travel, as currency exchange uses the mid-market rate, keeping costs low. It’s also a good way to receive incoming remittances to the Philippines in foreign currencies. If you’re receiving money from the US, for example, you can give the sender your Wise US account information to receive your payment in USD, without needing to convert unnecessarily to PHP. This can cut out some extra costs and puts you in control of currency conversion.
You’ll also need to sign up and get verified to open a GCash account, and then you can get a card, start to save or invest, and even apply for a loan or line of credit. GCash can be used for local and international QR payments through Alipay, and for receiving remittances from abroad. If you use GCash to receive money from a loved one, they’ll need to send the payment through a GCash remittance partner and the funds are deposited to your GCash wallet in PHP. The remittance partner chooses the exchange rate, which may include a fee, on top of any transfer charge the sender needs to pay.
Wise vs GCash fees
It’s important to look at the full fee schedule for the provider you select before you start to transact, as other costs can apply to different services such as loans and credit lines. Because the services offered by Wise and GCash differ somewhat it’s pretty tricky to compare all their fees side by side - but we’ve pulled out a selection of the most important costs to consider here, to give you an idea:
Service | Wise | GCash |
|---|---|---|
Open an account | No fee | No fee |
Order a card | One time fee applies | No fee |
Spend with your card | No fee to spend currencies you hold Currency conversion from 0.57% when you don’t hold the right balance | No fee to spend in PHP |
ATM withdrawals | 2 withdrawals a month, to the value of 12,000 PHP with no Wise fee - low, transparent fees after that* | Local: 10 - 18 PHP International: variable fees |
Receive a payment | Free to receive payments in select currencies using local account details Fees apply to receive payment via SWIFT, which vary based on the currency | Convenience fees may apply when cashing in, which can be reimbursed depending on account use No fee to receive a standard remittance |
Send an international payment to a bank | From 0.57% | Not available |
Currency conversion | Mid-market exchange rate | Network rate for card spending Incoming remittance rates are set by the remittance partner selected |
Wise vs GCash: which is cheaper?
If you’re looking to send a payment to a bank with GCash or Wise, you’ll be able to use either for domestic payments, but only Wise offers international bank transfers.
GCash payments to banks are sent through Instanet and can arrive instantly. A fee of 15 PHP applies.
If you’re sending locally with Wise in PHP, a small fee may apply which can vary depending on the way you pay, and the value of the transfer. For international payments, Wise fees start from 0.57%, and your pesos are converted to the currency you need for deposit, using the mid-market rate with no extra fee.
Wise vs GCash exchange rates
The exchange rate used to convert PHP to a foreign currency - or vice versa - can have a big impact on how much a transaction costs overall.
Wise currency exchange uses the mid-market exchange rate if you make a payment, spend with your card, or convert in your account, with the fee for currency conversion split out for transparency.
GCash does not allow you to convert currencies in your account or send overseas - but if you use your GCash card to spend abroad, the costs are converted using the network exchange rate - usually Visa. You can see this rate in the app or using the conversion tools available from Visa online instead.
Wise vs GCash: which is faster?
60%+ of Wise transfers are instant (completed under 20 seconds), 80%+ are delivered in less than 1 hour.
GCash local PHP payments, which use Instanet, are also pretty much instantly delivered to the recipient bank account.
Wise vs GCash international transfer limits
Wise has high limits which vary by currency, usually around the equivalent of 1 million GBP. Domestically, you can send up to 50,000 PHP via InstaPay, and larger amounts with PESONet.
Sending large amount transfers
Wise has high limits on the amount you can send and receive to and from your Wise account. While these limits vary by currency, in many cases the maximum transfer amount is set at about 1 million GBP for outgoing payments. Wise also offers volume discounts on fees. If you send more than the currency equivalent of 20,000 GBP a month you could get an automatic discount of up to 0.17%.
If you want to send a large amount transfer to an account in the Philippines with GCash it’s best to reach out directly to check the limits. GCash transaction limits vary according to your account type and can include a monthly limit on all transactions.
Wise vs GCash: Payment methods
With Wise you can pay for your transfer from PHP by bank transfer or e-wallets (via Instapay scheme), debit/credit, or you can send money from your Wise balance.
You can add money to GCash from a linked bank or wallet, by cashing in at a physical location or by receiving a remittance from someone else. If you’re sending a payment to a bank with GCash the transfer is sent through Instanet.
Wise vs GCash card
Wise offers a linked international debit card which you can use to spend the balance you hold in your Wise account. GCash has the GCash card which is also linked to your wallet balance and offers spending and withdrawals locally and internationally. Here’s a quick comparison of how each works:
Wise card | GCash card |
|---|---|
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Wise vs GCash card: Where can you use them?
You can use the Wise card in 150+ countries, wherever you see the network logo displayed. The GCash card can also be used internationally, wherever you see the Visa logo.
Wise vs GCash business
Both Wise and GCash have business services, but the options on offer are quite different - here’s a roundup:
GCash Business | |
|---|---|
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Ease of use
Creating an account: Create your account online or in app with both GCash and Wise
Making a transfer: You can’t make a GCash international payment to a bank, but you can send money locally by bank transfer or your GCash balance. You may be able to send money from GCash Philippines to a GCash Overseas account. Wise typically allows bank transfers, card payments and Apple Pay payments, locally and overseas
Ways to send money: Send payments to your recipient’s bank account directly, or to other ewallets with Wise and GCash
Languages: Both GCash and Wise offer support services in select languages, online, by phone and in app
Minimum & maximum amounts: Wise sending limits can vary by destination country, and based on your account type. GCash limits may vary based on our account type and status
Supported currencies
With Wise you can send money to 40+ countries, and hold 40+ currencies in your account.
GCash accounts are used by Filipinos, including overseas workers, in 200+ countries, but support PHP only and do not allow overseas transfers to banks. You can send remittances from overseas to GCash in the Philippines, and you may be able to send from GCash to GCash overseas if you need to pass money to someone abroad.
Are they safe to send money with?
Both Wise and GCash are considered to be safe services, which have security features such as encryption and anti-fraud tools built into the apps and desktop sites. All customers must be verified to use their accounts, and there are easy ways to get help from the provider’s support team if you ever have a question.
Are they regulated in the Philippines?
Yes.
Wise Pilipinas Inc. is licensed by the Bangko Sentral Ng Pilipinas (BSP) as a Remittance and Transfer Company.
G-Xchange, Inc. (GCash) is also regulated by the Bangko Sentral ng Pilipinas.
Wise vs GCash customer service
If you need to talk with an agent, or ask a question about a Wise problem you can log into the Wise app and open a live chat.
Globe landline users can contact GCash on (02) 7213-9999 (toll-free) - otherwise you can call via Internet, by looking for the link in the GCash app or desktop site Contact page, and starting a call through your app or browser.
Conclusion: Comparing Wise and GCash
Wise and GCash both operate online and in app, and allow ways to hold a balance, spend with a card and send and receive payments. However, the exact features of each do vary quite a lot.
Wise has more of a focus on international use, including multi-currency balance holding, international payments inwards and outwards, and mid-market currency exchange.
GCash is great for local use in the Philippines and for anyone sending or receiving remittances from overseas to the Philippines. You can’t send a payment from GCash to a bank outside of the Philippines, and you can’t hold or receive a balance in a foreign currency.
Use this guide to decide which option might best suit your specific needs, based on how you expect to transact most frequently.
FAQ
Wise and Maya are quite different businesses and will suit different customer needs. Wise is a specialist in international transfers and low cost currency conversion, with holding accounts and debit cards for convenient spending. Maya has a great ewallet for local spending, credit card services and ways to receive remittances from abroad, but doesn’t offer bank transfer overseas.
Neither is better - it depends on the service you need. For credit cards and local bill payments, Maya may suit you - but if you need something more international, try Wise.
Both Wise and Maya have variable fees depending on how you use your account. Wise has no foreign transaction fee for card spending, for example, with a low conversion fee instead. Maya has a foreign transaction fee of 2% - 2.75% depending on the card. Compare both options to decide which is cheapest for your spending needs.
For domestic payments, Wise and Maya use the same networks and so are likely to be similar. Wise also offers fast or even instant international transfers.
With Wise you can send money to 40+ countries, and hold 40+ currencies in your account. Maya accounts support PHP only and do not allow overseas transfers to banks.