MANILA, Philippines — GoTyme Bank has launched an in-app international money transfer service that allows customers to send funds to more than 170 countries and territories, as the digital bank seeks to capture rising demand for faster and more transparent cross-border payments.
The Gokongwei-backed digital bank said Wise, a global payments platform known for using real mid-market exchange rates and transparent pricing, powers its new Send Money Abroad feature.
Through the service, GoTyme customers can send money directly from the bank’s mobile app in eight currencies: Australian dollar, Chinese yuan, British pound, euro, Japanese yen, Korean won, Singapore dollar and US dollar.
GoTyme said the feature provides customers with upfront visibility on fees, exchange rates and the exact amount that recipients will receive before a transfer is confirmed. Customers may also track transfers in real time, from send-off to delivery.
“As our customers become increasingly global in how they live, work, study and support their families, international banking needs are evolving alongside them,” GoTyme Bank chief strategy and proposition officer Shern Teo said.
“Send Money Abroad is part of our broader commitment to making global financial services more accessible and integrated into the everyday banking experience, allowing customers to manage both local and international transactions seamlessly within one app,” Teo said.
Unlike traditional remittance channels that may involve separate accounts or additional steps, GoTyme said the new service is available within a single fully digital platform. Customers do not need to open a separate dollar account to send money abroad.
The bank said the service also charges one upfront fee based on the mid-market exchange rate, with no hidden charges or markups.
The launch builds on GoTyme’s partnership with Wise Platform last year, which has already resulted in an over 85-percent increase in unique users of the bank’s international payments feature.
Samarth Bansal, Asia-Pacific general manager at Wise Platform, said the expanded partnership would help address the need for quicker and cheaper cross-border payments in the region.
“We’re delighted to be extending our partnership with GoTyme Bank as they continue to build innovative financial solutions for their customers,” Bansal said.
“This launch reflects GoTyme Bank’s commitment to responding to the growing urgency for faster, more transparent and more affordable cross-border payments across the region,” he said.
GoTyme said the service is also available to foreign nationals residing in the Philippines, who can open a GoTyme Bank account digitally and send money to their home countries within minutes.
The bank said the launch reflects the growing reality of more mobile financial lives, where international transfers are becoming a regular part of how customers manage money across countries.
GoTyme Bank is regulated by the Bangko Sentral ng Pilipinas and is collaboration between the Gokongwei group of companies and multi-country digital banking group Tyme.
