Wise Review in the Philippines 2026
Wise offers multi-currency accounts in the Philippines with ways to hold, send, exchange and spend 40+ currencies in total, including options to receive payments in PHP, USD, GBP, EUR and more. With low fees, and excellent exchange rates, Wise can be a helpful tool if you send or receive remittances, travel often, or love to shop with overseas ecommerce stores.
This full Wise review looks at how to create an account and send a Wise transfer, the Wise card for spending and withdrawals, and how receiving money with Wise works. Let’s dive right in.
Wise: Key points
Key features:
Price: No ongoing costs, no minimum balance - just low transaction fees for the services you use
Exchange rate: Convert or spend with the mid-market exchange rate and a conversion fee from 0.57%
Speed: 70%+ of transfers are instant (completed under 20 seconds), and most are delivered in less than 1hour*
Convenience: Check and manage your account online and in-app, and spend conveniently with your Wise debit card
Transparency: No hidden costs in the Wise transfer fee, and you can easily see how long your payment is likely to take before you confirm
Safety: Industry level measures in place to prevent fraud and protect customer accounts
*The speed of transaction claims depends on individual circumstances and may not be available for all transactions
Key stats:
Wise accounts can hold and exchange 40+ currencies, and send to 40+ countries
Spend with a Wise debit card in 150+ countries
Wise accounts come with account details in 20+ currencies to get paid conveniently in foreign currencies
70%+ of transfers are instant (completed under 20 seconds)
Wise pros | Wise cons |
|---|---|
✅Low and transparent fees, with the mid-market exchange rate ✅Hold and exchange a large range of currencies ✅Access your account and make transactions online or in the Wise app for convenience ✅Receive payments to Wise easily and often for free ✅Personal and business services available | ❌Payments arranged online and in-app only - no cash transfer options ❌Fees and limits do apply, and can vary based on the destination country ❌No branch network - all customer service is online, in app and by phone |
Overall:
Wise offers a powerful multi-currency account, which makes it easy for people and businesses to send, spend, receive and hold multiple currencies. You can also get a Wise card to make spending at home and abroad a breeze.
For international transfers, Wise has built its own payment network that has made it fast and cheap to send money abroad. On top of that, they are also transparent on pricing, showing you the total cost of your transfer and using the mid-market exchange rate.
How much can I save with Wise?
Wise has built its entire business around offering low fees and the mid-market exchange rate for payments.
Exactly how much you can save with Wise depends on where you're sending money to, the transfer value, and how you'll pay. There’s a helpful cost calculator on the Wise website and app, which allows you to easily see the costs of your payments - and the exchange rate you get, so you can compare it to other providers.
Bear in mind that other providers may add fees into the exchange rate you’re offered. Wise does not do this, splitting out all the costs for transparency. The easiest way to choose a provider is to look at how much the recipient gets in the end, rather than the headline fee. This gives you a better picture of what you’re really paying for your transfer.
Compare all your options before you send a payment to make sure you know you’re getting the best available deal. This Wise remittance review gives you plenty to think about when choosing the best provider for your needs.
What is Wise?
Wise was launched in the UK in 2011, and now operates in many countries and regions around the world, helping millions of customers to send, receive, hold and exchange money. Wise is working on making it easier, cheaper and more convenient to send and receive transfers across borders, driving down prices and making fees and delivery times as transparent as possible for customers.
Wise launched as a money transfer service, but now has three focus areas. We’ll look at each in turn, next.
Wise money transfer
Send payments with Wise to bank accounts in 40+ countries. Supported currencies include USD, SGD, GBP, EUR, JPY and many more. Arrange your transfer online or in the Wise app and pay by bank transfer, card or Instapay. You can also pay with your Wise balance if you hold one.
You’ll get currency exchange which uses the mid-market exchange rate and low fees from 0.57%. Wise payments are processed through Wise’s own payment network - which means they are fast and convenient.
Great for: individuals and businesses looking to send fast, secure international payments to bank accounts in 40+ countries
Wise multi currency account and Wise debit card
What is a Wise Account? With the Wise multi-currency account you can hold 40+ currencies and send payments to 40+ countries easily - you'll also get account details in 20+ currencies including USD, AUD, CAD, EUR, and GBP. That's perfect if you need to get paid in these currencies, as you can receive local transfers in any of these currencies conveniently.
You can open a Wise Account online and get a linked Wise debit card for easy spending and cash withdrawals around the world. Just top up your account in your preferred currency and then switch to the currency or currencies you need at the mid-market exchange rate. Manage your account in the Wise app and you'll be able to see all your available currency balances at a glance.
Great for: people and businesses sending and receiving frequent international payments.
Get your Wise card 💳
Wise Business
In addition to the Wise money transfer services and multi-currency accounts, there are additional features and benefits for Wise business clients.
Get account details in 20+ currencies to get paid more easily by international clients
Hold, send payments and switch between multiple currencies
Pay international suppliers, contractors and team members more easily in their preferred currencies
Make batch payments through a simple csv file upload, to cut admin time
Add users to the account profile to let team members access functionality
Automate payouts with the smart Wise API
Integrate with your favourite cloud based accounting software
Great for: businesses of all sizes, from freelancers/sole traders, to large corporates and enterprise level customers.
How does Wise work?
Wise has built its own payment network which is cheaper and faster to operate compared to SWIFT - the system used by banks to send international transfers.
The way Wise works is actually surprisingly simple. Instead of moving money across borders through complex payment networks, Wise has its own network of accounts in all the countries it operates in. When you make a payment in PHP you send it in pesos to the Wise account in the Philippines. Wise then transfer the equivalent amount from their account in the destination country, in the currency you need. That means no money really has to cross borders, cutting the costs and the time involved.
Banks on the other hand typically use the SWIFT network - a network of partner banks which pass payments between themselves until they reach the correct destination account. SWIFT is established and reliable - but also expensive and slow. Each bank involved in the payment chain can add an intermediary fee which is tricky to predict and pushes up prices.
With Wise, because there are no intermediaries, there are also no surprise costs - allowing a more transparent payment structure.
You can send payments from the Wise website or app. Transfers can be deposited to bank accounts around the world as well as to ewallets like GCash and Maya. There’s no need for the recipient to open a Wise account to receive money - but if they do have a Wise account you can also send your payment there if you’d like to.
Is Wise safe to send money?
Yes, Wise (TransferWise) is safe and trustworthy. Wise transfers are made using leading edge technology, and with a dedicated anti-fraud team on hand to ensure money is kept safe. Here are some key facts about Wise safety and security:
Customer funds are safeguarded using leading financial institutions
Wise is regularly audited to check everything is working smoothly
Advanced data protection and 2-step authentication processes are used
Round the clock fraud prevention systems including both technology and a dedicated team
Wise pricing
Wise has disrupted the international payment market by challenging banks and established providers on fees. Wise fees and pricing are transparent. In short, Wise aims to:
be radically transparent
charge as little as possible
make premium the new normal
lower fees over time
There are also discounts available that automatically apply to your account if you're sending higher amounts - more on that coming up later. Here's the lowdown on how Wise fees work.
Wise money transfer fees
Wise has disrupted the international transfer market with its fee structure. While banks often bundle their fees, adding an extra charge into the exchange rates they use, Wise splits out the fees you pay, so you can transparently check and compare costs.
Because Wise is all about transparency, you can easily get a quote for a transfer, without even signing up for an account. You can just head to their homepage to get a quote and a delivery time estimate. There are even comparisons against other providers - if Wise isn’t the cheapest for your particular transfer, they’ll show that too.
Alternatively, you can use our exchange rate comparison engine. You can see Wise's exchange rates and compare them to the banks and other money transfer companies to see if they are the best option for you.
Transfer Fee | Rates | Minimum transfer amount |
|---|---|---|
A percentage of your transfer + a small fixed fee, based on the currency you're transferring. Fees vary but start from 0.57% | Wise give you the best possible rate. They do not use a margin. | Not applicable. |
Wise exchange rate
Wise uses the mid-market rate without any hidden fees - the same rate you’ll find on Google or using a currency converter tool. This is different to many providers which add an extra fee, called a markup, to the exchange rate they use to process payments. Markups are often in the region of about 3% - which doesn’t sound like a lot, but which can mount up very quickly, particularly on higher value transfers.
Wise multi currency account and debit card fees
Here are the key Wise fees you’ll want to know about.
Service | Wise fee |
|---|---|
Open your Wise multi-currency account | Free for personal customers
Business customers can open an account for free, or pay 1,400 PHPPHP for full feature access |
Hold 40+ currencies | Free |
Get local and SWIFT account details for 20+ currencies | Free |
Order a Wise debit card | Low one time fee for personal customers
No fee for the first card ordered by business customers |
Spend currencies you hold using your card | Free |
First 2 ATM withdrawals up to 12,000 PHP/month | Free |
ATM withdrawals over 12,000 PHP/month | 1% |
Over 2 ATM withdrawals/month | 30 PHP/withdrawal |
Convert a currency using your card | From 0.57% |
Receive money with local or SWIFT details | No Wise fee to receive with local account details Low fees apply on SWIFT payments depending on the currency you’re receiving |
Send high value international payments | of up to 0.17% on payments over the equivalent 20,000 GBP/month (about 1.5 million PHP) |
*Details correct at time of research - 29th October 2025
**Wise will not charge you for these withdrawals, but some additional charges may occur from independent ATM networks
How long does Wise transfer take?
When you send money with Wise 70%+ of transfers are instant (completed under 20 seconds)*. You’ll see a delivery estimate before you start your payment, and you can track your money in the app if you need to.
Ultimately, the amount of time it takes for your Wise transfer to be processed will depend on the currencies and countries involved, how you pay, and any verification that’s required. However, Wise payments can be faster than transfers which use the SWIFT network. While some SWIFT transfers may arrive in a day or so, they can sometimes take 3 - 5 days.
*The speed of transaction claims depends on individual circumstances and may not be available for all transactions
How to use Wise
You can use Wise easily in the Philippines, to send, spend, hold, receive and exchange money.
Because Wise has no ongoing account fees, no minimum balance and a flexible range of supported currencies and services, it can be good for a broad range of customers, including:
Anyone who likes to travel and wants to spend and withdraw cash with low fees internationally
Individuals who need to pay bills overseas or remit money to loved ones at home
Online shoppers who love ecommerce sites based abroad
Freelancers who need to get paid by customers and clients internationally
Business owners paying suppliers, contractors and staff in foreign currencies
Anyone who wants to hold and exchange dozens currencies with the mid-market exchange rate, and manage their money right from their phone or laptop
How to send money with Wise
Using Wise is easy. All you need is your smartphone or computer. Here's what to do:
Log into your account
Type in how much you want to transfer, or how much you need the recipient to get
Confirm the type of payment
Enter the recipient's details - bank account number, or ewallet information for example. The exact information required will depend on the destination
Check over the details
Add a reference or message for your recipient
Fund your payment using a card, Instapay or bank transfer
Confirm and your money will be on the move
Go to Wise🚀
The details you’ll need when you’re sending money
The details you’ll need when you’re sending money with Wise depend on how you want the payment to be deposited. You can usually choose options including sending to a bank, to an ewallet like GCash or Maya, or to another Wise account. Exact availability depends on where you’re sending money to.
Here are the details you usually need if you’re sending money to one of these account types:
Send to a bank account: recipient’s name, bank name, bank account number, SWIFT/BIC code
Send to an ewallet: recipient’s wallet information - usually a phone number, but can vary by wallet type
Send to a Wise account: recipient’s email or phone number, or their Wise account information
Wise payment methods
You can send a Wise payment funded in PHP, and pay using any of the following methods:
Bank transfer
Debit or credit card
Instapay, including from ewallets
Send money from your Wise balance
Each payment method has its own pros and cons, but you can see all your options before you decide which one to pick. Paying with a card might be a very fast option for example, but the costs can be higher than using a bank transfer for example.
Payout methods
Wise payments can arrive directly in the recipient's bank or ewallet account, or they may be sent to another Wise account if you prefer.
The exact options available might depend on the currency you’re sending and the country the recipient lives in. You'll see your options when you set up your payment.
How to track Wise transfer
To track your Wise transfer you can log into Wise online or in the Wise app, and then select the specific transfer you want to look at. You’ll see the status of the transfer instantly.
How to create an account
Creating a Wise account is easy, and can be done entirely online or in the Wise app. Here’s how to open a Wise account in the Philippines:
Register with your email address, or an Apple, Google or FaceBook account
Follow the prompts to enter your personal details
Upload your ID documents for verification
Once your account is verified you can start sending payments
What documents you'll need
The exact documents you need will depend on the type of account you want, and the type of payments you're making. You'll be guided through the process, and can always get in touch with Wise customer support if you need help. If you need to stop while verifying your account you can simply save and exit the process and come back to it later.
Usually for a personal account you'll need:
A valid ID document like a passport or driving licence
A proof of address like a utility bill or bank statement in your name
For a business account you'll need:
ID and address documents for the account owner
Information about the business including address, industry and registration number
Names, date of birth, and country of residence for directors and shareholders who own 25% or more of the business
How long does Wise verification take
Verification may be done instantly, or within a couple of working days. The length of time it takes to verify your Wise account may vary depending on the documents you provide among other factors.
Do I need a bank account for Wise?
If you want to send money with Wise you can pay using an ewallet or card, which means you do not need to use a bank account if you’d prefer not to.
Your recipient does not need a Wise account to get their money. You can arrange the payment to be deposited to their ewallet - like GCash or Maya - instead.
How to receive money from Wise?
You can receive a payment from Wise to your bank account or to an ewallet like GCash or Maya. Wise does not charge any fees to the recipient in this case, but your own bank or wallet may have an incoming payment fee.
You can also receive money from Wise to a Wise account if you have one. In this case, there are some payment methods with no Wise fee, including transfers using local account details. Or you can receive a SWIFT or wire payment with a small incoming payment fee from Wise.
Wise limits
Wise payment limits are set by currency. Usually you'll be able to send high value payments as an individual of up to 1 million GBP or the currency equivalent.
If you’re sending from PHP you can send up to 50,000 using Instapay, or you can send higher amounts from your bank using PESONet.
Supported currencies
Wise supports 40 different currencies and lets you send to over 40 different countries.
Wise regularly updates the countries and currencies available for payments - for the latest info check here.
Wise reviews
Trustpilot is a great resource for checking out reviews of businesses you may want to deal with. See what previous customers have said before you get started, so you'll know you're going to get a good service.
At the time of writing, Wise has an Excellent score on Trustpilot, of 4.3 stars out of 5. That’s from a huge 270,000+ reviews posted so far. Over 80% of reviewers give Wise the full 5 star rating, commenting on factors such as customer service and communication, value for money and user experience.
Wise app reviews on both Apple and Android phones are also strong, with users finding the app easy to navigate.
Wise accessibility
You can use Wise from your desktop, or get the app with an Apple or Android device. Wise has customer support in a range of languages, and a handy FAQ section online where you can get answers and troubleshooting support for common problems.
Wise customer service
Wise does not have a physical office where you can talk to a customer service team member face to face. Generally, Wise is easy to use and offers a simple self service customer experience, meaning you can easily transact without needing to speak to someone. However, there are plenty of different ways you can contact Wise customer service:
Support channel | Wise contact information |
|---|---|
In app support | Log into your account to start a live chat or get the right phone number to call for your specific problem |
X | |
Wise alternatives
It makes sense to check out some alternative providers before you start making payments or open an account. The alternative which suits you could vary depending on the type of transactions you want to make. Here are a few to consider:
Maya: Hold, send and receive PHP payments, with helpful tools for other daily jobs like paying bills. Maya also offers credit cards, and in store QR payments, but does not support multi-currency holding.
PayPal: Hold 25+ currencies and send or receive payments, as well as shopping online globally. PayPal is very convenient to use and also often has low or no fees for local transactions in PHP - but does have quite high currency conversion costs.
GCash: Send and receive payments, as well as accessing more complex services like loans, investments and credit. Super popular app for day to day use.
Wise for business
Wise business customers in the Philippines can:
Hold 40+ currencies, and send payments to to 40+ countries
Switch between multiple currencies using the mid-market exchange rate
Get account details in 20+ currencies to get paid more easily by international clients
Pay international suppliers, contractors and team members in multiple currencies
Make batch payments and access the Wise API to cut out admin
Go to Wise Business 🧳
Conclusion: Is Wise a good way to transfer money?
Wise can offer low cost currency services - including multi-currency accounts, international debit cards, and transfers to 40+ countries - with low overall fees. That’s because Wise has built its own payment network with a focus on offering transparent prices which come down over time. You can get everything you need set up with just a phone or laptop, to transact easily on the move -plus you can spend and withdraw more or less anywhere in the world with your Wise card.
Compare the service features and fees you can get with Wise to see if they suit your unique needs.
Wise money transfer review FAQs
Yes. Wise is a legit and popular service to send, spend, hold and receive international payments.
There’s no fee to open a Wise personal account, no ongoing fees, and no minimum balance. You just pay low, transparent fees for the services you use.
When you send money with Wise 70%+ of transfers are instant (completed under 20 seconds), and most are delivered in less than 1hour.
Yes. Wise has industry level security built into all of its processes and services, to keep customers and their money safe.
Wise uses the mid-market exchange rate with no markup. You’ll only pay a low conversion fee, which is transparently shown when you arrange a payment.
Yes - find the Wise app on iOS and Android.
Wise payments are made through the Wise payment network - which means they can move faster and be processed more cheaply than a bank SWIFT payment
Hold and exchange40+ currencies with a Wise account, send payments to 40+ countries, and spend in 150+ countries with a Wise card.