If you’re in the Philippines, Wise is making it easier than ever to manage your money. Here’s all you need to know about using Wise in the Philippines:
Verifying Your Account
Before you start using Wise, you’ll need to verify your identity. This process is simple and ensures the security of your account.
- Document Requirements: Depending on your nationality, you may need to provide a Philippines National ID, passport, driving license, postal ID, or UMID.
- Verification Process: It usually takes a few minutes to three working days to verify your documents. You’ll receive notifications via email and the Wise app.
New Limits on Your Wise Account
With Wise, you can add, receive, or send up to 490,000 PHP (or equivalent in any currency) per transfer. There’s no limit on how much you can hold in your Wise account, but there’s a monthly limit on top-ups or received amounts.
Wise Card Usage in the Philippines
You can order and use the Wise card in the Philippines with your personal account. Here’s what you need to know about using your Wise card:
- ATM Usage: You can use your Wise card at select ATMs and card machines (POS) both in the Philippines and abroad. Some ATMs may charge a third-party fee, so always check the fees before withdrawing.
- Online Transactions: You can use your Wise card for online transactions and e-commerce purchases in any currency, both domestically and internationally.
Taxes on Wise Fees
For each transaction on your Wise Account, fees are subject to VAT at the prevailing rate. This includes adding money to your account, sending money from your balances, converting money between balances, and more.
Conclusion
With Wise, managing your money in the Philippines has never been easier. From account verification to using your Wise card, you have all the tools you need to handle your finances seamlessly.