Wise Just Made It Faster for Freelancers to Get Paid in the PH
Go get that bag (in under 20 seconds)!
(SPOT.ph) Right alongside PayPal, Wise is already a popular pick for foreign payments, but a new update has just made it even better. Filipino freelancers with international clients now have a faster, more efficient way to get paid as Wise gains direct access to our InstaPay network.
This tackles a huge pain point that every freelancer knows too well: waiting for overseas payments to clear. Those managing small, frequent payments—common for project-based work—can now receive these funds almost instantly from 28 currencies. Specifically, transfers up to the InstaPay limit of P50,000 will arrive in under 20 seconds. No more refreshing your app for hours—or even days—waiting for money to come.
Bigger amounts won't go through InstaPay, but Wise guarantees they’ll still arrive within 24 hours.
Also read: Here's How You Can Officially Register As a Freelancer
What does it mean for Wise to have direct access to Instapay?
This InstaPay connection means that Wise no longer has to rely on traditional bank systems to process transfers, cutting out extra steps that used to slow things down.
Funding your Wise account just got easier, too. Freelancers can now tap up or move money from their Wise accounts to Philippine banks or e-wallets, making it simple to manage payments and expenses as they come up.
Wise’s direct integration with InstaPay not only speeds up processing but also helps keep transaction fees in check—good news for anyone who’s ever dealt with the sting of high cross-border charges eating into their earnings.
In addition, Wise has also partnered with Bangko Sentral ng Pilipinas' (BSP) gross payment system, PhilPaSS Plus, to settle payments. This route adds stability to big payments, cutting the risk of delays or extra charges by processing transactions directly through the central bank.
You can download Wise on the Apple Store and Google Play Store.
Also read: 10 More Mobile Wallets to Try for a Cashless Existence
UPDATED (November 8, 2024): An earlier version of this article mentioned that larger transfers over P50,000 are coursed through BSP's PhilPaSS Plus. This has been corrected.