Wise has launched PHP account details in the Philippines, allowing users to receive money in Philippine pesos without fees.
Wise, a global technology company specializing in money transfers, has introduced PHP account details for its customers in the Philippines. The feature allows users, including freelancers, international students, and expats, to receive payments in Philippine pesos (PHP) directly into their Wise Account with no fees. This provides a way to manage finances without needing a local bank account or address.
“PHP account details, and the ability to instantly top up Wise accounts and card transactions through InstaPay, are among the most highly-requested features from our users,” said Areson Cuevas, country manager for Wise Philippines. “We believe these added capabilities will help users to seamlessly manage their finances and enjoy a convenient payment experience.”
Since entering the Philippine market in May 2024, Wise has introduced features to simplify international money transfers. Recently, the company gained direct access to InstaPay, the Philippines’ instant payment network, enabling users to fund their Wise Account and card transactions through local bank transfers or e-wallets such as GCash and Maya.
With the launch of PHP account details, Wise customers in the Philippines can now receive local payments from employers, friends, and family as if they had a traditional bank account. This addition brings the total number of supported account details to 23, including those for USD, EUR, AUD, and GBP.
Wise customers in the Philippines can hold, send, and receive money in over 40 currencies. They can also use the Wise Card to make international transactions in more than 160 countries at the mid-market exchange rate without hidden fees.