GoTyme Bank has launched a service that allows customers to send money to more than 170 countries and territories through its app, expanding the digital lender’s cross-border payments offering.
The Send Money Abroad feature, powered by Wise, enables transfers in eight currencies: the Australian dollar, Chinese yuan, British pound, euro, Japanese yen, Korean won, Singapore dollar and U.S. dollar.
Customers can view transfer fees, exchange rates and the exact amount recipients will receive before completing a transaction, while also tracking transfers in real time.
GoTyme said the service uses Wise’s mid-market exchange rate and charges a single upfront fee with no hidden charges or markups. Customers do not need to open a separate U.S. dollar account to send money overseas.
The launch comes as demand for international payment services grows among customers sending money abroad for education, healthcare, travel, business and family support.
The bank said the number of unique users of its international payments feature has increased by more than 85% since it partnered with Wise Platform last year.
“As our customers become increasingly global in how they live, work, study and support their families, international banking needs are evolving alongside them,” 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 added.
Wise Platform APAC general manager Samarth Bansal said the expanded partnership would help deliver faster, cheaper and more transparent cross-border payments.
The service is also available to foreign nationals living in the Philippines, who can open an account digitally and send money to their home countries within minutes, GoTyme said.
