GoTyme Bank becomes the first financial institution in the Philippines to integrate Wise Platform, bringing transparent international transfers to 7.8 million customers
The remittance landscape in the Philippines is undergoing a significant transformation. GoTyme Bank, the country's fastest-growing digital bank, has announced a groundbreaking partnership with Wise Platform that promises to address long-standing issues that have plagued international money transfers for Filipino families.
A First for the Philippines and Asia Pacific
This collaboration marks two important milestones: GoTyme Bank is both the first Wise Platform partner in the Philippines and Wise's first International Receive partner across the entire Asia Pacific region. The integration enables GoTyme Bank's 7.8 million customers to receive international transfers through a streamlined, transparent process directly within their banking app.
The Hidden Cost of Sending Money Home
For Overseas Filipino Workers (OFWs) and their families, remittances are more than just financial transactions—they represent dreams, education, healthcare, and business opportunities. The numbers tell a compelling story: OFWs send over $38 billion annually back to the Philippines, making it one of the largest remittance markets globally and a crucial component of the country's GDP.
However, this vital financial lifeline has come at a steep price. According to Wise research, Filipino consumers lost approximately $170 million (₱9.74 billion) in 2024 alone due to hidden fees embedded in international money transfers. These hidden charges, combined with slow processing times and lack of transparency, have made remittances unnecessarily expensive and frustrating.
How the Partnership Works
Through the Wise Platform integration, GoTyme Bank customers can now receive money from over 11,000 banks worldwide across 23 major currencies, including USD, EUR, GBP, AUD, and SGD. The process is remarkably simple:
- Customers access their account details through the GoTyme Bank app
- They share these details with the sending bank abroad
- International payments are processed over SWIFT with full transparency
- Funds arrive faster with clear visibility on all fees
Perhaps most importantly, customers can withdraw their remittances for free at over 1,400 Robinsons Retail partner stores nationwide, ensuring convenient access across the Philippines.
Beyond Technology: A Mission-Driven Partnership
"Our collaboration with Wise is about creating a trusted remittance experience that feels effortless," said Nate Clarke, President and CEO of GoTyme Bank. "By pairing Wise's world-class technology and global network with GoTyme Bank's simple, beautiful banking, we're redefining how Filipinos support their families, grow their ambitions, and stay connected to what matters most."
Samarth Bansal, APAC General Manager at Wise Platform, emphasized the infrastructure aspect: "Payments coming over SWIFT have faced hidden charges and slow speeds. With this partnership, GoTyme Bank becomes the first bank in the Philippines to change this trend."
Setting a New Benchmark for Cross-Border Banking
This partnership represents more than a technological upgrade—it's a fundamental shift in how remittances work in the Philippines. By combining GoTyme Bank's accessible digital banking platform with Wise's proven global payment infrastructure, the collaboration addresses the core pain points that have frustrated Filipino families for decades.
The 24/7 operational support ensures that families receive the full value of every remittance, whenever they need it. For millions of Filipinos, this means that hard-earned money can go further—funding education, supporting loved ones, and building businesses without being eroded by opaque fees.
The Future of Remittances
As customer expectations evolve, international payments are increasingly expected to match the speed and transparency of domestic transfers. The GoTyme Bank and Wise Platform partnership sets a new standard for what cross-border banking should look like in the Philippines and potentially serves as a model for other markets in the region.
For the 7.8 million GoTyme Bank customers and the broader Filipino community, this partnership transforms remittances from a necessary burden into an efficient, transparent service that truly serves their needs. It's a powerful example of how fintech partnerships can create tangible impact in people's daily lives.