A Game-Changer for OFWs, Students, and Freelancers
Money remittances have always been a lifeline for Filipino families — from parents sending tuition fees abroad, to OFWs supporting loved ones back home, to freelancers working with international clients. But the struggle has often been the same: hidden fees, long delays, and strict transfer limits.
This is why Wise’s latest announcement matters. The global fintech giant has officially become the first international fintech to fully integrate with both InstaPay and PESONet, giving Filipinos faster, cheaper, and more reliable cross-border payments. Today, Wise already processes 12% of all inward personal remittances to the Philippines — a strong sign that many Filipinos are turning to smarter, more transparent ways to move their money.
What This Means for Filipinos
With this integration, Wise users can now:
- Send and receive money seamlessly through InstaPay and PESONet.
- Transfer large amounts abroad without delays or limits, perfect for tuition payments or family support.
- Get real mid-market exchange rates (the same ones you see on Google) without hidden markups.
- Enjoy lower fees — transfers like PHP 50,000 to USD are now over 10% cheaper.
This move makes it easier for OFWs, parents, and freelancers to handle international transactions without the frustrations of traditional banks.
Strengthening Financial Inclusion with National ID
To make these services even more accessible, Wise has partnered with the Philippine Statistics Authority (PSA) to integrate with the National ID eVerify system.
Now, Filipinos can quickly verify their Wise accounts using their National ID — whether it’s a card, paper, or digital copy. This supports the government’s digitalization push and helps more Filipinos gain access to global financial tools.
PSA’s National Statistician Claire Dennis S. Mapa emphasized that this collaboration empowers millions of Filipinos across all backgrounds, highlighting that over 88 million digital National IDs are already in use.
Wise’s Commitment to the Philippine Market
According to Areson Cuevas, Country Manager for Wise Philippines, the fintech’s rapid growth reflects the demand for better, more affordable financial solutions:
“By connecting directly to InstaPay and PESONet and streamlining National ID verification, Wise is removing barriers to transparent and affordable international money transfers. Our mission is to make sure every Filipino can move money with confidence and ease.”
Since launching locally in May 2024, Wise has introduced its Wise Account and Card, allowing Filipinos to manage over 40 currencies with no hidden fees.
Real Stories from Filipinos
For many, the benefits are already clear. Leslie May Daguplo, a freelancer paid by US-based clients, shared:
“Before using Wise, I’d always lose money to hidden fees and bad rates. Now, I see the fees upfront and get fair exchange rates. More of my earnings go straight into my pocket. It’s made managing my freelance work simpler and more affordable.”
Her experience echoes that of many Filipinos who are tired of losing hard-earned income to traditional banking systems.
For a country where remittances account for over 9% of GDP, innovations like this go beyond convenience — they directly impact family livelihoods, education, and even business growth. With Wise leading the way, we’re seeing a major step forward in financial inclusion and empowerment for Filipinos everywhere.
If you’re an OFW, a parent sending tuition abroad, or a freelancer juggling international payments, Wise’s integration with the Philippines’ payment systems might just be the breakthrough you’ve been waiting for.