WISE Pilipinas

I’m always surprised (and suspicious) when a financial institution does something to make life easier but this seems a very welcome development particularly if the domestic ATM charge applies

This is an interesting development. I recently did a transfer from my US credit union to my Wise account. And it was instant. I seem to recall a 4 to 5 day waiting period before(?). Anyone else notice this?

Are there any ATMs here that you get out of the 250 peso fee? I was about to research this.

Wise has been great IMHO. And the exchange rate is always the real rate. Without a percentage just a tiny fee. Not only can you convert your US funds to peso. Anytime you use your card online or at a store Wise uses the current real rate. I just double checked this. Because I was concerned, if I didn't have pesos converted in my account, that the local store was hitting me with some stupid exchange rate.

All this beats other cards. Short of a Phillipine bank account. I just got my ACR card which I think means I can now get a bank account here. Which waives the ATM fees and I can now get a managers check (cashier's check) which are used to pay for large things like cars etc. Is there anything else I can do with a Phillipine bank account that I can't with Wise or my US credit union card that has international access?

Trying to sign up for Gcash was such a joke. You can not pass the video verification if you have a goatee or facial hair as it thinks you have a mask on. And absolutely no way to contact anyone within the company.

@Moab762

I recently did a transfer from my US credit union to my Wise account. And it was instant. I seem to recall a 4 to 5 day waiting period before(?). Anyone else notice this?

Yes, same here. Do you remember connecting your bank account to WISE through PLAID? There is a relatively new development called "FAST ACH"  that WISE and perhaps remitly uses for transfers in seconds or minutes. As long as your account remains "connected" by PLAID it should work. It is fantastic but the exact details and guidelines for use are hard to come by. Also, when using WISE to transfer direct from  your bank (not eise balance) to your Philippines receiver, FAST ACH let's you transfer by connected bank account (checking) instantly, same as if you checked the debit card transfer option. This can be very important for expats whose foreign debit cards have expired.

I find MAYA to be superior to GCASH and MAYA did accept my SRRV early on while GCASH rejected my SRRV identity early on, until recently when PRA convinced them to accept SRRV. Also, if you try hard you can chat with a human at MAYA.

I transfer funds from Australia to Philippines using WISE and it is almost always pretty much instantaneous but every now and then it takes up to 72 hours so you learn not to rely on speedy transactions. Otherwise I find WISE very good in terms of exchange rates and fees

@danfinn

Maya was very easy. I think I signed up at a mall kiosk or online not sure. Just never used it as Wise worked so well. Never got an actual card tho. Not sure why.

@danfinn Maya was very easy. I think I signed up at a mall kiosk or online not sure. Just never used it as Wise worked so well. Never got an actual card tho. Not sure why. - @Moab762

I use MAYA primarily for local online payments and, once in a while, for restaurant tabs. MAYA is the reason we were able to stop in-person payments for PROSIELCO and NORECO2, METRO DUMAGUETE water. PLDT accounts for Valencia and Siquijor and Globe postpaid. I don't think you can pay those utilities directly with WISE but I would if I could. know there are other online payment platforms like shopee and lazada and with WISE you could probably pay online the utilities' bank accounts but what works for me with MAYA works well and saves me from standing in line. But I never keep a lot if money in these wallets, I generally add money as I spend and keep the bulk in my bank.

Wise has had some major US SEC filings iirc. They are well backed and taking over various segments of the financial market. They are not a Gcash or even Maya. They are a legitimate global company. Not just in the Phillipines.

"Wise (formerly TransferWise)

Founded: 2011 in London, UK

Publicly traded: London Stock Exchange (ticker: WISE)

Type: Licensed financial technology company (not a bank, but fully regulated as a money transmitter/electronic money institution in most jurisdictions)

Customers: Over 16 million individuals and businesses worldwide

Countries served: Operates in 160+ countries and supports transfers to/from 70+ countries

Currencies: Hold and manage 40+ currencies in one account

Key products:

Multi-currency account

International money transfers (usually 5–20× cheaper than traditional banks)

Wise debit card (issued in dozens of countries, works globally wherever Visa/Mastercard is accepted)

Business accounts for companies and freelancers

Wise uses the real mid-market exchange rate (the one you see on Google) with low transparent fees, making it one of the most popular and trusted alternatives to banks for cross-border payments and spending worldwide."

Wise's moves into crypto:

"The crypto/stablecoin move (October 2025)

Wise, which has historically been very cautious (and even restrictive) about cryptocurrency, made its first clear signal of entering the space.

They posted a job for a Digital Assets Product Lead focused on stablecoins — basically hiring someone to build crypto-related products, likely stablecoin transfers or holdings.

This is seen as a strategic shift driven by clearer global regulations (like EU's MiCA and US rules) and competition from fintechs like Revolut and Stripe that already offer crypto/stablecoins.

No product has launched yet — it's preparatory — but it's a big deal because Wise co-founders were previously skeptical of blockchain for payments. Analysts view it as Wise positioning itself for faster/cheaper cross-border rails using stablecoins.

Wise recent moves in the US:

Even more recent: Aggressive US expansion push (announced November 6, 2025)

In their latest half-year results, Wise revealed they're ramping up heavily in the US (their fastest-growing market):

Hiring thousands more staff (especially in Austin, Texas).

Boosting marketing spend significantly.

All as groundwork for shifting their primary stock listing from London to the US (New York/Wall Street) — shareholders already approved this earlier in 2025.

Expenses are up ~27% because of this investment, but revenue and customer growth remain strong.

No full-on crypto trading or wallet yet (Wise still blocks direct transfers to most crypto exchanges per their policy), but the stablecoin hire is the closest they've come to embracing digital assets. If you're waiting for Wise to add crypto features, 2026 is when things might actually roll out.

Anything specific you're hoping they announce?"

@Moab762

They are not a Gcash or even Maya. They are a legitimate global company. Not just in the Phillipines

GCASH and MAYA are just 2 lightly regulated, local, not global, Philippine money wallets who perform almost none of the services WISE performs. They are capitalized much lower and their business models should probably not be compared to WISEs' IMHO.

@danfinn

For sure. I see referrals in FB groups all the time. Alot clearly don't understand the difference. And often go with Gcash just because that's what the locals use. My gf included. Alot of locals don't seem to heavily evaluate things when deciding what to use. Whether it's a financial service or cell service or whatever. It's more based on rumored reputation. Or what advertising they most often see.

It's a bit frustrating too. You would find much more heavily evaluated advice on US forums and groups. I rarely see locals discussing where to find products or services. Where the best price is or which is better quality and why.

I feel like the frugal culture in the west is heavily influenced by poverty. Even if it's the lasting affect of the great depression handed down for generations. Seems like the poor, lower and middle class are the most heavily involved in researching how to spend the limited funds they have. Other than only buying the cheapest item that is "good enough". There doesn't seem to be alot of the culture involved in how to make your money stretch.

I could go into greater detail on why I think that is. But I won't.

One example is vehicle groups here. Very few actually diy at all. Or discuss maintenance, costs, ways to make sure your expensive machinery lasts. It's basically just groups created to market crap accessories you could buy cheaper yourself in Lazada or AliExpress. I have a vehicle (Suzuki Jimny) that isn't sold in the US. The Phillipines groups based in that widely sold vehicle are practically useless. I belong to the AU versions. Which are full of great advice, know how, diy and just insuring your long term vehicle cost is as low as possible.

I don't understand why cost savings in such a poor country is not more widely discussed.