GoTyme Bank partners with Wise for remittances, cross-border transfers
GOTYME BANK has partnered with global cross-border payments platform Wise to improve its remittance services.
This makes the digital bank the first partner bank of Wise Platform in the Philippines and its first International Receive partner in the Asia-Pacific (APAC) region, it said in a statement on Tuesday.
Under the collaboration, GoTyme Bank integrated with the Wise Platform to enable international transfers over SWIFT. The digital bank’s over 7.8 million customers can now receive money from over 11,000 banks worldwide in 23 major currencies, including the US dollar and euro.
“The partnership tackles long-standing pain points experienced by overseas Filipino workers and their families — such as expensive transfer fees, hidden charges, slow processing times, and lack of transparency,” it said.
According to a Wise study, Filipino consumers lost some $170 million or P9.74 billion in 2024 due to hidden fees in international money transfers.
GoTyme Bank customers can also view their account details and share them with their sending bank to receive international payments.
They can withdraw their remittances for free at over 1,400 Robinsons Retail Holdings, INc. partner stores nationwide.
“Our collaboration with Wise is about creating a trusted remittance experience that feels effortless. 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,” GoTyme Bank President and Chief Executive Officer Nathaniel D. Clarke said.
“This partnership exemplifies Wise’s mission to build the infrastructure for the world’s money. As the first Wise Platform partnership in the Philippines, it demonstrates how we’re extending beyond our own products to power better financial services through partners. 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,” Wise Platform APAC General Manager Samarth Bansal said.
Cash remittances coursed through banks increased by 3.2% to $2.977 billion in August from $2.885 billion in the same month last year, data from the Bangko Sentral ng Pilipinas (BSP) showed.
For the first eight months of 2025, money sent home by migrant Filipinos climbed by 3.1% to $22.909 billion from the $22.217 billion in the comparable year-ago period.
The BSP expects cash remittances to grow by 3% to $35.5 billion this year.
GoTyme Bank booked a net loss of P3.44 billion in 2024, widening from the P2.47-billion loss in 2023 amid higher operating expenses, its latest annual report showed.
It is a partnership between the Gokongwei group and Singapore-based Tyme Group, and began commercial operations in October 2022 as one of the six digital banks licensed by the BSP. — A.M.C. Sy
