Global Tech Giant Wise Expands To The Philippines, Unveiling Innovative Money Management Solutions
Wise, a world leader in using technology to move and handle money, is excited to announce that it is entering the Philippine market. The new Wise Account and Wise Prepaid Card are being added as part of this big growth. These innovative solutions make it easy and cheap for Filipinos to do business worldwide, without having to deal with foreign transaction fees or rising exchange rates.
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| Global Tech Giant Wise Expands To The Philippines, Unveiling Innovative Money Management Solutions |
The Wise Account and Prepaid Card are packed with a bunch of cutting-edge features that let customers:
- Pay people from other countries into their Wise Account for free by giving them account information in over nine different currencies, such as AUD, CAD, EUR, GBP, HUF, NZD, SGD, USD, and TRY.
- Instantly hold on to money in more than 40 different currencies with no holding fees or minimum amount requirements.
- Move money from their Wise Account to local bank accounts or e-wallets without any problems. Over eight local e-wallets can be used with Wise. These include GCash, Maya, GrabPay, Starpay, Bayad Wallet, TayoCash, ShopeePay, and JuanCash.
- You can use Wise to send and receive money in more than 160 countries and get cash from ATMs at rates that are comparable to the market. There is a small exchange fee that you pay upfront.
- For extra safety, you can protect up to three digital cards, and after the transaction, you can freeze each one.
These features are useful for a wide range of users, from freelancers and international students to travelers and people who depend on foreign workers who work abroad. Wise transactions are quick, cheap, and completely digital, giving you the most freedom and ease when handling money between countries.
She said, "Wise has significantly reduced my transaction fees and waiting periods, making it the go-to solution for remote professionals like myself." Jenny Ann Magallanes is a remote worker who praised Wise's services.
According to Wise's study, a substantial 73% of Filipinos still use traditional platforms to send money to other countries, which means they have to pay higher transaction fees. Also, only 21% know about the secret costs of doing business internationally, like exchange rate markups.
Areson Cuevas, Country Manager of Wise Philippines, was excited about the company's entry into the market. He said, "Our solutions aim to tackle the problems Filipinos face, such as high transaction fees, bad exchange rates, and slow processing times." We want to make it easy and quick for Filipinos to send money to other countries without having to pay fees that aren't clear.
Personal remittances to the Philippines are expected to hit a record-high $37.2 billion in 2023. Wise knows how important these payments are. Cuevas also said, "Our launch in the Philippines is a big step toward our goal of helping customers avoid unfair exchange rates and hidden fees." We are planning to add more ways to pay so that deals are easier and cheaper for our customers.
Wise is a globally trusted company that has been around since 2011 and has over 5,500 workers who serve more than 10 million active customers around the world.
