Storspay vs Wise Business for paying the Philippines: rate, fees, batches and who can actually sign up
Both convert near the mid-market rate. The differences are who can open an account, whether you can pay a team in one batch from one balance, whether the same balance pays Africa and Latin America, and what the receipt looks like to a bookkeeper.
Read this guide in Français · Filipino
Short answer. On a single payment to the Philippines, Wise Business and Storspay land within a fraction of a per cent of each other — both use a mid-market rate and both charge around 1% — so the choice is not about the rate. It is about whether you can open the account (platforms, agencies and anyone paying third parties are often refused), whether you can pay a whole team in one batch from one balance, whether that balance also pays Nigeria, Kenya, Ghana and Mexico, and whether every payment produces a receipt with your invoice reference.
Where they are the same
Both convert close to the mid-market rate, both show the fee before you confirm, both deliver pesos to BDO, BPI, Metrobank fast. If you are one company paying one developer in the Philippines once a month, either will do the job and you will pay about the same.
Where they differ
| Storspay | Wise Business | |
|---|---|---|
| Who can sign up | Any verified business, including platforms, agencies and marketplaces paying third parties | Businesses paying their own suppliers and staff; third-party payment flows are commonly declined |
| Paying a team | One batch from one balance — type or upload a CSV, one fee line, one statement | Batch payments available, priced per transfer |
| Same balance pays Africa & Latin America | Yes — 26 more corridors at 2%, including Nigeria, Ghana, Kenya and the CFA zone | Coverage of Africa is partial; several large markets are not served |
| Getting paid back | Payment requests from 26 corridors into your USD, GBP or EUR details | Local account details in major currencies |
| Fee to the Philippines | 1% all-in · min US$2 | Around 1–1.5% depending on amount and funding method |
| API for platforms | Payouts, escrow, webhooks, revenue share | Platform API by application |
Wise is a good product and for a one-to-one payment it is a fair comparison. Storspay is built for the business that pays a team, a supplier list or a marketplace's sellers in the Philippines and in Africa or Latin America, from one balance, with the paperwork a finance team needs.
What is different about the Philippines
The Philippines is the world's second-largest BPO market and the home of the virtual assistant: millions of Filipinos are paid every fortnight by companies in the US, Canada, the UK and Australia. They are used to being paid to a BDO, BPI or UnionBank account by InstaPay in minutes — and to losing several per cent of each payment to the platform or the bank in between. Storspay delivers pesos at the mid-market rate with the 1% shown separately, and a fortnightly run for a whole team is one batch, one fee line, one receipt.
How a payment to the Philippines works on Storspay
- Fund your balance in USD (ACH or wire), CAD (Interac e-Transfer or EFT), GBP (UK bank transfer) or EUR (SEPA) — to account details in your own business name. Funding is free.
- Add the recipient once: their name as it appears on the account, the bank (BDO, BPI, Metrobank, UnionBank, Landbank, Security Bank, RCBC and the other BSP-supervised banks) and the account number. Storspay checks the account name before you confirm.
- Type the amount in either box. Enter what you want to send and see the pesos that land, or type the pesos figure on the invoice and see what it costs you. The rate is the mid-market rate; the 1% is on its own line.
- Confirm. The money goes over InstaPay or PESONet and usually lands within minutes — the same business day at most. The recipient gets a notification with the exact amount, and you get a receipt with the invoice reference.
Nobody in the Philippines has to sign up, install an app or touch anything other than their own bank account. Everything on the recipient side looks like an ordinary domestic transfer.
What it costs
Storspay charges 1% all-in on payments to the Philippines, with a minimum of US$2, at the mid-market rate. That one line covers conversion, settlement and delivery; there is no FX markup, no intermediary-bank charge and nothing deducted on the recipient side.
| You send | Storspay fee | They receive | A bank wire at ~6% delivers |
|---|---|---|---|
| US$1,000 | US$10 | ₱62,198 | about ₱59,057 |
| US$10,000 | US$100 | ₱621,984 | about ₱590,571 |
Rates in this guide are the mid-market rate on the day of writing (1 USD = 62.8267 PHP); the calculator on the homepage shows today's. Large payments are split automatically under the local channel cap, under one reference and one fee.
See what your team in the Philippines receives →
Questions businesses ask before the first payment to the Philippines
Is Storspay cheaper than Wise for the Philippines?
On most amounts they are within a few dollars of each other. Storspay's advantage is not the rate on one payment; it is one balance, one batch and one receipt format across 30 countries.
Can a platform or agency use Storspay to pay its workers in the Philippines?
Yes — that is what it is for. Platforms integrate the API; agencies use Run Payroll.
Can I move from Wise to Storspay without changing what my team does?
Yes. Your team still receives pesos to the same bank accounts; only the sender changes.
Can you pay GCash or Maya?
Not yet — Storspay pays Philippine bank accounts today, and e-wallets are on the roadmap. Most GCash and Maya users also hold a BDO, BPI, UnionBank or Landbank account.
How fast does a peso payment land?
Usually within minutes through InstaPay; larger amounts may route through PESONet and land the same business day.
Does the contractor pay anything on their side?
No. You pay 1% all-in (minimum US$2); the contractor receives the peso amount shown. Their bank does not charge for an incoming domestic credit.
Who this is for — and who it is not for
Storspay is for businesses and organisations: companies, agencies, schools, hospitals, facilitators, foundations and sole traders paying other businesses and professionals for work, goods and services. A sole trader counts as a business and signs up in their own name.
What Storspay is not is a personal money-transfer service. We do not open personal accounts, and every payment has to be a business transaction: an invoice, a contract, a fee note, work delivered. Money to family and personal transfers are not what this is, and we would rather say so now than at verification.
See your own corridor number. What your team receives, what Storspay costs, what you keep — no sign-up.
Open the calculator →