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

Quick Comparison Table

Feature	Remitly	Wise
Fees	Higher, especially for express transfers	Lower, transparent exchange rates
Payment to Philippines	Fast delivery to GCash, BDO, BPI	Economical transfers to BDO, BPI, UnionBank
Ease of Use	Simple, user-friendly app	Intuitive platform, detailed tracking
Best for	Quick transfers, less tech-savvy users	Cost-conscious freelancers, large transfers

When to Choose Remitly

Choosing Remitly makes sense in several scenarios, especially when speed and simplicity are priorities. In my 6 years of freelancing, I've found Remitly particularly useful in these situations: - **Urgent Transfers**: If you need to send money home quickly, Remitly's express option delivers funds within minutes to GCash or major banks like BDO and BPI. This was a lifesaver when I had to send money during emergencies. - **Non-tech Savvy Users**: The Remitly app is straightforward, perfect for users who prefer minimal fuss. My family members, who aren't very tech-savvy, have always found it easy to use. - **Smaller Transfers**: For smaller amounts, the slightly higher fees may be negligible compared to the convenience and speed offered. - **Recipient Preferences**: If your family prefers cash pickups or has limited access to digital wallets, Remitly's wide network across the Philippines is beneficial.

When to Choose Wise

Wise is ideal for scenarios where cost and transparency are critical. Here are some situations where it's advantageous: - **Large Transfers**: Wise offers better exchange rates with lower fees, which is crucial for transferring significant amounts. I saved a substantial amount last year when I was paying for a family member's tuition. - **Frequent Transfers**: If you send money regularly, the cumulative savings on fees with Wise can be significant. - **Tech-Savvy Users**: Wise's platform provides detailed tracking and allows for convenient management of multiple currencies, suitable for those comfortable with technology. - **Budget-Conscious Freelancers**: Wise helps maximize earnings by minimizing transfer costs. When I started freelancing, using Wise helped me save nearly $300 over a year, which was a big deal.

Detailed Comparison

Fees and Costs

In the Philippines, minimizing costs is essential, especially when every peso counts. Wise typically offers lower fees and uses the mid-market exchange rate, which means no hidden charges. For instance, if you're transferring $1,000, the savings with Wise can equate to a week’s worth of groceries for a family in Manila. Remitly, however, charges higher fees, particularly for express services, which can add up over time.

Payment Methods

Both services support transfers to popular Filipino banks such as BDO, BPI, and UnionBank, as well as digital wallets like GCash and Maya GCash guide. However, Remitly's strength lies in its cash pickup options, which Wise lacks. This can be a deciding factor if your recipient prefers to pick up cash in person.

User Experience

In terms of user experience, Remitly is straightforward and easy to navigate, making it ideal for those unfamiliar with digital platforms. Wise, while slightly more complex, offers a more detailed interface with real-time tracking and multi-currency options, which I find beneficial for managing international freelance income.

Client Quality

From a freelancer's perspective, the platform you choose doesn't directly affect client quality, but it impacts your financial management. Wise's transparent fees allow for better budgeting, which indirectly supports maintaining a professional image with clients by ensuring financial stability.

For Beginners vs Experienced

Beginners in freelancing might appreciate Remitly's simplicity, while more experienced freelancers who handle larger transactions and multiple currencies would benefit from Wise's detailed reporting and cost-effectiveness.

My Personal Experience

In my personal journey, starting as an OFW before transitioning to freelancing, I initially chose Remitly for its ease of use. I was sending smaller amounts home frequently and valued speed, especially in emergencies. However, as I grew more experienced and started handling larger payments, Wise became my go-to. For example, in 2024, I managed to save over $500 in transfer fees by switching to Wise for my larger transactions. This shift allowed me to invest those savings back into my freelancing business, purchasing equipment and software that enhanced my productivity.

Common Mistakes to Avoid

- **Ignoring Exchange Rates**: Always compare the exchange rate offered by each service. Wise typically uses the mid-market rate, offering more value for your money. - **Overlooking Transfer Speed vs Cost**: Fast service like Remitly's express option might be tempting, but consider if the higher fee is justified. For non-urgent transfers, Wise's slower but cheaper option is often better. - **Not Planning Ahead**: Last-minute transfers can be expensive. Plan your transfers when possible to avoid unnecessary fees. - **Neglecting Recipient Preferences**: Ensure the recipient can access the funds easily. If they prefer cash pickups, Remitly is more suitable.

Frequently Asked Questions

Which service is cheaper for sending money to the Philippines?

Wise generally offers lower fees and better exchange rates, making it cheaper for sending money to the Philippines, especially for larger amounts.

Can I use both Remitly and Wise?

Yes, you can use both services. It's beneficial to choose based on the specific needs of each transfer, such as speed or cost.

How long does it take for money to arrive in the Philippines?

Remitly offers express transfers that can arrive within minutes, while Wise typically takes 1-3 days depending on the method and time of transfer.

Is it safe to use Wise or Remitly?

Both Wise and Remitly are regulated financial services with good security measures, making them safe to use for international money transfers.

What payment methods do they accept?

Both services accept bank transfers, debit, and credit cards. Remitly also supports cash pickups, which Wise does not.

Do they support GCash transfers?

Yes, both Remitly and Wise support transfers to GCash, making it convenient for recipients in the Philippines to receive funds.

Final Verdict

In conclusion, the choice between Remitly and Wise depends on your specific needs. For fast, smaller transfers or when the recipient prefers cash pickups, Remitly is the better choice. However, for cost-effective transfers, especially larger ones, and for those comfortable with technology, Wise offers significant savings and transparency. As a Filipino freelancer, I've benefited from using both services depending on the situation. It's wise to evaluate your priorities and choose accordingly. For more insights on handling freelance income, check out our more guides.