GoTyme Bank has announced a strategic partnership with Wise Platform, a global payment infrastructure provider, aiming to provide faster and more transparent international transfers and remittances for GoTyme’s over 7.8 million customers.

The collaboration makes GoTyme Bank the first partner bank for Wise Platform in the Philippines and its first International Receive partner in the Asia Pacific region.

It targets long-standing issues faced by Overseas Filipino Workers (OFWs), such as high transfer fees, hidden charges, and slow processing times. According to research by Wise, Filipino consumers lost approximately US$170 million (PHP 9.74 billion) in 2024 due to hidden fees in international money transfers.

GoTyme Bank has integrated with the Wise Platform to enable international payments over SWIFT. This allows customers to receive money from over 11,000 banks worldwide in 23 major currencies, including USD, EUR, and GBP, with greater transparency on pricing.

“Our collaboration with Wise is about creating a trusted remittance experience that feels effortless,” said Nate Clarke, President and CEO of GoTyme Bank.

Samarth Bansal, APAC General Manager for Wise Platform, noted the significance of the partnership.

“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”.

GoTyme Bank customers can view their account details in the app to share with a sending bank.

They can also withdraw their remittances for free at over 1,400 Robinsons Retail partner stores nationwide.

Featured image by Evgenymedia via Freepik.