I want to understand how it can be as low as 1%

Using UK to Phillipines as an example there are two conversions.
1. GBP to bitcoin
2. Bitcoin to Phillipine Peso

Todays exchange rate is 1 GBP = 70.5682 PHP

So the nurse working in the UK wanting to send £100 home to family in the Philipines would like her son to get as close to 7,056.82 PHP as possible.

I was going to write about the two conversion costs necessary, but it kind of seems unnecessary now that I have seen WU's cost seems to be around 1.5%

1.5% is decent no?