Remitly vs Wise Fees 2026: Which Is Better for Filipinos?

Quick Comparison Table

Feature	Remitly	Wise
Fees	Higher for fast transfers	Low and transparent
Payment to Philippines	Instant for cash pickup and bank deposits	1-2 days for bank deposits
Ease of use	Very user-friendly app	Intuitive interface
Best for	Quick cash pickups	Affordable large transfers

When to Choose Remitly

Choosing Remitly can be ideal in several scenarios, especially if you prioritize speed and convenience when sending money to the Philippines. - **Urgent Transfers**: If your family needs money quickly, Remitly’s Express service delivers funds in minutes. In my 6 years of freelancing, I’ve found this useful during emergencies when my family needed immediate financial support. - **Cash Pickups**: Remitly supports cash pickups at local partners like Cebuana Lhuillier and M Lhuillier. This is perfect if your recipient doesn’t have a bank account. My mother, who is not tech-savvy, appreciates this feature. - **Promotional Offers**: New users often get promotional exchange rates or fee discounts, making initial transactions cost-effective. I once saved significantly on fees during a holiday promotion. - **User-Friendly Experience**: Remitly’s app is straightforward, making it easy for those new to digital transactions. When I started freelancing, I found its simplicity appealing.

When to Choose Wise

Wise, formerly known as TransferWise, is an excellent choice for those who value affordability and transparency in international money transfers. - **Cost-Effective Transfers**: Wise offers low, transparent fees and real exchange rates, which is beneficial for large transactions. In my experience, transferring $2,500 monthly via Wise saved me significant fees, maximizing my earnings. - **Direct Bank Deposits**: If your family prefers bank deposits, Wise efficiently handles these, although it takes 1-2 days. The exchange rate advantage compensates for the time, as I’ve seen in my transactions to BPI and BDO. - **Regular Payments**: For regular monthly support to family, Wise’s low fees can lead to substantial savings over time. I’ve consistently used it for my family’s monthly needs, appreciating the reduced costs. - **Multiple Currency Support**: If you’re dealing with clients in various currencies, Wise’s multi-currency accounts simplify conversions. This feature helps when I work with clients from the US and Europe.

Detailed Comparison

Fees and Costs (Philippines-specific)

In my freelancing journey, managing costs is crucial. Remitly charges higher fees for urgent transfers, which can add up if used frequently. However, their promotional rates occasionally offset these costs. Wise, on the other hand, offers consistently low fees and uses mid-market exchange rates, ensuring no hidden charges.

Payment Methods

Both services offer multiple payment methods suitable for the Philippines. Remitly supports cash pickups and mobile wallet transfers like GCash GCash guide, which is convenient for those without bank accounts. Wise focuses on bank transfers, which are ideal if your recipient prefers deposits to BDO or BPI.

User Experience

Both platforms are user-friendly, but Remitly’s interface is more intuitive for beginners. Wise’s clean layout provides transparency in fees and exchange rates, which I appreciate as I became more experienced.

Client Quality

While both services handle client payments effectively, Wise’s multi-currency account is better for freelancers dealing with international clients, allowing me to receive payments in various currencies without excessive fees.

For Beginners vs Experienced

For new freelancers, Remitly’s simplicity and cash pickup options offer an accessible start. Experienced freelancers might prefer Wise for its cost-effectiveness and comprehensive financial tools, which I have come to rely on.

My Personal Experience

In my 6 years of freelancing, I’ve used both Remitly and Wise extensively. Initially, I favored Remitly for its speed and promotions. I remember sending money to my family in Quezon City and being relieved when they received it in minutes. However, as I grew more experienced, Wise became my go-to for its lower fees and better exchange rates. For instance, when I started receiving payments from European clients, Wise’s multi-currency account saved me from losing money in conversions.

Common Mistakes to Avoid

- **Ignoring Exchange Rates**: Always consider the exchange rate. Remitly’s promotional rates can be enticing but check the actual cost compared to Wise’s mid-market rates. - **Not Comparing Fees**: Don’t assume fees are the same for every transaction. I always compare both services before deciding. - **Neglecting Transfer Speed**: Choose based on urgency. For immediate needs, Remitly is better, but for planned transfers, Wise is more economical. - **Forgetting to Update Information**: Ensure recipient details are correct. An error can delay transfers and cause issues, which I learned the hard way when a bank account number was mistyped.

Frequently Asked Questions

Which is cheaper for sending money to the Philippines?

Wise generally offers lower fees and better exchange rates for sending money to the Philippines, making it cost-effective for larger transfers.

Can I use Remitly for cash pickups in the Philippines?

Yes, Remitly supports cash pickups at various locations throughout the Philippines, such as Cebuana Lhuillier and M Lhuillier.

How fast are Wise transfers to the Philippines?

Wise transfers typically take 1-2 days to reach Philippine bank accounts, depending on the bank and any intermediary processes.

Do both services offer mobile wallet transfers?

Remitly supports mobile wallet transfers to GCash, while Wise primarily focuses on bank transfers.

Is it safe to use these services?

Yes, both Remitly and Wise are regulated financial services that prioritize security and customer protection through encryption and compliance with financial regulations.

Final Verdict

After weighing the options, Wise emerges as the best choice for Filipino freelancers who prioritize low costs and transparent fees, especially for larger, regular transfers. Remitly, with its speed and cash pickup options, is better suited for urgent or occasional transfers. For most Filipino freelancers, using both services strategically can optimize costs and convenience. For related money transfer guidance, check out more guides.