GoTyme launches send money abroad feature

Gokongwei-led digital bank GoTyme Bank on Friday announced the launching of a new in-app feature, which enables its customers to send money to more than 170 countries and territories directly through its application.

In a news release, GoTyme said the new Send Money Abroad featured, powered by global cross-border payments company Wise, supports fund transfers in eight currencies — Australian dollar, Chinese yuan, Great British pound, euro, Japanese yen, Korean won, Singaporean dollar, and US dollar — “with low transparent fees, real mid-market exchange rates, and visibility on exactly how much recipients will receive.”

The Gokongwei-led digital bank said the launch of a new feature launch reflects growing demand for seamless international financial connectivity as more customers manage cross-border payments for education, healthcare, travel, business, and family support.

GoTyme said since partnering with Wise platform last year, the bank has seen over 85% increase in unique users of its international payments feature.

With this, the bank said its customers can now send money to more than 170 countries and territories directly from its through the new feature.

“As our customers become increasingly global in how they live, work, study, and support their families, international banking needs are evolving alongside them,” said Shern Teo, chief strategy and proposition officer at GoTyme.

“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,” said Teo.

Samarth Bansal, Asia-Pacific general manager at Wise, said, “We’re delighted to be extending our partnership with GoTyme Bank as they continue to build innovative financial solutions for their customers.”

“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. As the first bank in the Philippines to allow customers to send transparent international payments at the mid-market exchange rate, GoTyme is delivering the experience that customers expect,” said Bansal. — BAP, GMA News