Remitly International Money Transfer Review 2024

In today’s global economy, international money transfers have become a crucial aspect of doing business, studying abroad, making cross-border purchases, or simply sending money to family and friends. The sheer number of money transfer service providers can be overwhelming, making it difficult to choose the right one for your needs. However, one of the companies that managed to stand out from the crowd and stun with its amazing services is Remitly.

Remitly is a digital platform that specializes in international money transfers and is optimized for first-timers. With over a decade of experience and expertise, this provider has grown to be one of the most popular and reliable money transfer services available. Its mission is to provide an easy, affordable, and safe way for people to send and receive money across borders.

In this article, we’ll take an in-depth look at Remitly’s pros and cons, key attributes, features, costs, fees, trustworthiness, speed, customer service, customer reviews, alternatives, and much more. By the end of this review, you should have a clear understanding of what Remitly has to offer, and whether it’s the right option for you.

Who are Remitly?

Remitly was founded in 2011 by Josh Hug and Matt Oppenheimer. They started the company with the aim of providing an affordable and easy way to send money internationally, especially for those who were unbanked or underbanked. The company is headquartered in Seattle, Washington, and has offices in London, Manila, Krakow, and Nicaragua.

Remitly is most active in markets such as the United States, Canada, the United Kingdom, Australia, and Europe. The company has facilitated over $20 billion in international money transfers, serving more than 3 million customers worldwide.

One of the things that set Remitly apart from other money transfer services is its focus on providing a personalized experience. They have tailored their services to meet the needs of different customer groups, such as immigrants, international students, and small businesses. Remitly also offers competitive exchange rates and low fees compared to traditional bank transfers.

Remitly’s success is evident in the fact that it has received funding from top venture capital firms such as Stripes, Founders Co-op, and Bezos Expeditions. In addition, the company has received numerous awards and accolades, including being recognized as one of the most innovative companies by Fast Company in 2018.

Some of the best things about using Remitly are their special promotions and discounts for new users. On many occasions, they may offer a discount on the first transfer or a bonus for referring a friend. These promotions can help new users save money and make their first international money transfer experience more affordable.

In addition to promotional offers, Remitly also has a rewards program that allows users to earn points for every transfer they make. These points can be redeemed for gift cards or cashback, which can be a nice bonus for those who use Remitly frequently.

Remitly Pros & Cons

	Pros	Cons
1.	Multiple payment options – Remitly offers a vast number of options for funding money transfers, from bank accounts and debit/credit cards to local and online payment options.	Not suitable for large money transfers – Remitly caters to expats and immigrants in North America and the European Union who wish to send money back home. Therefore, its services are optimized for making small money transfers.
2.	Amazing customer service – Remitly’s help center is available in 15 languages. Customers can get in touch with their live chat in 3 languages as well.	No dedicated account managers – Unlike other money transfer providers, Remitly doesn’t offer dedicated dealers to assist clients with all of their transfer issues.
3.	Decent Trustpilot rating – Remitly scores 4.1 out of 5 stars from about 40,000 reviews on Trustpilot, which is a solid grade in its field of operation.	Exchange rates can have a high markup – Some transfers made in less common currencies can incur an exchange rate markup of up to 3.7%, which is still lower than the traditional banks’ rates.
4.	Fixed transfer fees – Depending on the transfer amount and transfer method, Remitly offers fixed transfer fees that are clearly outlined on their website.	No option for instant custom quotes – Anyone interested in making a transfer with Remitly needs to sign up for an account first to see the particular rates and fees of their planned transfer.
6.	Extensive knowledge base – Most customers’ concerns can be answered by browsing Remitly’s sizable help center and FAQ section.
9.	Global service coverage – Residents of 28 countries can send money to over 180 countries across the globe.
10.	Solid currency coverage – Remitly boasts one of the largest pool of currencies among similar services. They offer money transfers in more than 75 currencies, many of them in less.
11.	Outstanding mobile app – Customers rave about Remitly’s mobile app on the App Store and Google Play.
12.	No minimum transfer limit – Rimetly allows customers to make international money transfers as low as $1.
13.	Fast money transfers – With the Express transfer method, Remitly is able to facilitate money transfers instantaneously.
14.	Cash pick-up option – There are over 400,000 Remitly locations in the world where recipients can complete a money transfer by picking up the money in cash.

Remitly Key Attributes

• Founded: 2011
• Headquarters: Seattle, WA, USA
• Other offices: Besides the main office in Seattle, Washington, Remitly has an additional office in the same US state in the town of Spokane. Overseas, the company has offices in the following locations: Cork (Ireland), Managua (Nicaragua), Manila (Philippines), Krakow (Poland), London (the UK), Amsterdam (the Netherlands), Tel Aviv (Israel), and Singapore;
• Annual trading volume: In 2021, Remitly facilitated money transfers of over $20.4 billion in worth. That same year, their revenue is estimated at $458.6 million;
• Number of employees: On Remitly’s website, the company states that they employ about 1,600 people across all of their offices. However, their LinkedIn page states that their employee number is currently over 2,200;
• Trustpilot rating: With almost 40,000 reviews on Trustpilot, Remitly’s score is 4.1 out of 5 stars. That’s pretty much the average rating international money transfer services have on Trustpilot;
• Number of clients: Remitly is one of the money transfer companies that serve the largest number of clients. Currently, they have over 3 million active customers;
• Available countries: With Remitly, residents of 28 countries can send money to almost anywhere in the world. Currently, these Remitly users can make money transfers to over 180 countries across the world. The 28 countries are: Australia, Austria, Belgium, Canada, Cyprus, Czech Republic, Denmark, Finland, France, Germany, Greece, Ireland, Italy, Latvia, Liechtenstein, Lithuania, Malta, the Netherlands, New Zealand, Norway, Romania, Poland, Portugal, Singapore, Slovakia, Spain, Sweden, the United Arab Emirates, the United Kingdom, and the United States;
• Number of currencies: Remitly is great when it comes to the variety of currencies they support. With this provider, customers can send money in over 75 official currencies, including many exotic currencies that most of the other international money transfer providers don’t support;
• Minimum transfer limit: Remitly basically doesn’t impose any minimum transfer limit on the transfers they facilitate. Customers can send as low as $1 (or currency equivalent) if they want to;
• Maximum transfer limit: Remitly does have limits on how much money customers can send, however, it’s hard to give a definite number. It all depends on where the sender and the recipient reside, which currencies are involved in the transfer, and the amount of the transfer. Additionally, Remitly has limits on how much money customers can send in a single day, in a month, and in 180 days. With that said, the maximum transfer limits range from $3,000 to £150,000;
• Transfer fee: Remitly’s transfer fees are always fixed and clearly communicated before any money transfer is initiated. They depend on where the sender and the recipient reside, which currencies are involved in the transfer, and the amount of the transfer. Additionally, the transfer fees are different depending on the selected transfer method (Economy or Express). Given that, these fees can range between $0.00 and $50 ($3.00 – $7.00 on average);
• Exchange rate markup: Remitly has a profit margin of around 1% – 2.5% added to the mid-market exchange rate on average (in rarer cases the markup can be as low as 0.5% or as high as 3.7%);
• Sending money through: Remitly’s clients can use their bank account, credit or debit card, Passbook (USA), Klarna (Germany and Austria), SEPA (France), and iDEAL (the Netherlands) to fund their international money transfers;
• Receiving money through: With Remitly, users can choose which way their recipient gets the money they send. The available options depend on the recipient’s country but include bank account, cash pick-up, mobile wallet, and home delivery;
• Payments flexibility: Remitly’s users can access their easy-to-use web platform and outstanding mobile app to access their online accounts and make and track international money transfers;
• Supported languages: Remitly’s website is supported in 15 languages: English, Spanish, French, Portuguese, Vietnamese, Dutch, German, Polish, Romanian, Italian, Turkish, Chinese, Korean, Filipino, and Thai. Their live chat is supported in English, French, and Spanish, and their phone support is available in English and Spanish;
• Regulated by: To ensure a money transfer service is safe, secure, and trustworthy for the general public, many national-level authorities regulate Remitly’s operations in their respective countries and regions. These include:
  • The U.S. Department of the Treasury in the USA;
  • The Central Bank of Ireland in the European Union;
  • The Financial Conduct Authority (FCA) in the UK;
  • The Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) in Canada;
  • The Australian Securities and Investments Commission (ASIC) in Australia.
• Mobile app: Remitly offers a state-of-the-art mobile app for all of their clients’ money transfer needs. Their app is one of the best in the industry and users can download and install it on Android devices from Google Play (star rating of 4.8 out of 5 stars) and iOS devices from the App Store (star rating of 4.9 out of 5 stars);
• Awards: Remitly is one of the newer money transfer services that have experienced substantial growth and success. In their short existence, they’ve been recognized as a leader in innovation, technology, and services by many in the fintech industry. The following are some of the awards and recognitions they’ve collected through the years:
  • Startup of the Year (GeekWire Awards, 2016);
  • Game Changer Award (Tech Impact Awards, Seattle Business Magazine, 2017);
  • Named one of the Deloitte Technology Fast 500 (Deloitte, 2017);
  • Most Innovative Companies (Fast Company, 2018);
  • FinTech 50 (Forbes, 2019);
  • Named one of the CNBC Disruptor 50 (CNDC, 2019);
  • Technology Pioneer (World Economic Forum, 2019).

Remitly Features

Remitly offers a wide range of features and services to its users to make the international money transfer process simple, fast, and convenient. Below, we’re including the key features available with Remitly:

1. Two options for money transfers: Express and Economy:
   1. Express Money Transfers: Express transfers are sent instantly and are typically delivered within minutes. This option is ideal for users who need to send money urgently and want the recipient to receive it quickly. Express transfers are available to select countries, and fees for this service are generally higher compared to economy transfers;
   2. Economy Money Transfers: Economy transfers are sent within three to five business days and are typically the most affordable option. This is an ideal option for users who are not in a rush to send money and want to save on transfer fees. Economy transfers are available to all countries, and fees for this service cost less than choosing the express transfer option.
2. Website and Mobile Apps: Remitly has a user-friendly website and extraordinary mobile app that is available for both iOS and Android platforms. The mobile app allows users to quickly access their Remitly account, send money quickly, track transfers, receive updates on their transfer status, and contact Remitly’s customer support;
3. Multiple Payment Options: Remitly offers multiple ways to fund an international money transfer, including bank account, debit card, credit card, Passbook (USA), Klarna (Germany and Austria), SEPA (France), and iDEAL (the Netherlands). This makes it easy for users to choose the payment option that works best for them;
4. Cash Pick-Up Option: In most countries, Remitly allows users to send money for cash pick-up at local partner locations. This is a convenient option for recipients who do not have a bank account or prefer to receive cash. Currently, Remitly boasts about 400,000 locations worldwide where recipients can pick up their cash;
5. Home Delivery Option: Remitly offers home cash deliveries in a few selected countries, such as the Philippines, Vietnam, and the Dominican Republic. This option is great for customers who can’t reach a physical location to pick up cash or want to do it privately in their own homes.

Additional Remitly Features

Here are some additional Remitly features that Remitly users can use to enhance their money-transfer experience:

1. Passbook: Passbook by Remitly is a new feature that the company recently launched. It is a mobile banking service designed to help immigrants and their families manage their money more easily. The Passbook app allows users to create a bank account, receive their paychecks by setting up direct deposits, and pay bills directly from their phones.
   
   One of the main benefits of Passbook by Remitly is that it is designed specifically for immigrants and their families, although any US resident can get on the program. The service offers features, such as free ATM withdrawals, no overdraft fees, and no minimum balance requirements, making it a more accessible option for those who may not have a lot of money to spare.
   
   In addition to basic banking features, Passbook by Remitly also offers a range of other services, such as mobile check deposit, budgeting tools, and access to free financial education resources.
   
   To use Passbook by Remitly, users need to download the Passbook app and create an account. Once their account is set up, they can start using the app to manage their finances more easily. While Passbook is currently only available in select U.S. states, Remitly plans to expand the service to more locations in the future.
   
2. Referral Program: Remitly has a referral program that rewards users for referring their friends and family to the service. When a user refers a friend or family member, both the user and the referral receive a monetary reward.
   
   To participate in the referral program, users need to share their referral link with their friends and family. The referral link can be found in the Remitly app or on the website. Once the referral completes their first money transfer, both the user and the referral will receive the reward.
   
   The referral program is a great way for Remitly users to earn rewards while also helping their loved ones save money on international money transfers. It’s a win-win for everyone involved.

Remitly International Money Transfer Costs

Like every other money transfer provider, Remitly charges fees for its international money transfer services, and these fees can vary depending on the destination country, the amount of the transfer, and the speed at which the transfer needs to be delivered (transfer method). In addition to transfer fees, Remitly also makes money by applying a markup to the exchange rate used for currency conversion.

It’s important to note that Remitly’s fees and exchange rates are generally more favorable than those charged by traditional banks and many other money transfer services. However, it’s still a good idea to compare fees and rates across different providers to ensure that you’re getting the best deal.

Exchange Rates

Remitly offers competitive rates compared to other providers. However, the exchange rate that you receive may not be the same as the current market rate, as Remitly applies a markup to the rate for currency conversion.

The usual practice is to lower the markup as the transfer amount grows larger. For example, a larger transfer of $15,000 can incur a profit margin of about 0.8% on the mid-market exchange rate, while a small transfer of $100 can have a high margin of 3.5%.

While these added markups can range from 0.5% to 3.7%, the average remittance transfer with Remitly faces an exchange rate markup of 1% to 2.5%.

Transfer Fees

In terms of transfer fees, Remitly offers two pricing tiers: Economy and Express. Economy transfers are less expensive but can take up to three business days to arrive, while Express transfers tend to be more expensive, but they are delivered within minutes.

The exact fees charged by Remitly can vary depending on the destination and amount of the transfer. For example, as of February 2023, Remitly’s fees for a $500 transfer from the US to Mexico are $3.99 for Economy and $9.99 for Express, while fees for a $500 transfer from the US to the Philippines are $3.99 for Economy and $7.99 for Express.

Usually, transfers that are larger than $1,000 accumulate no transfer fee ($0.00). On the other hand, there have been reports that large transfers made to exotic countries can reach a transfer fee of up to $50.

Additional Fees

In addition to the above-mentioned fees, third parties may charge additional fees that depend on the specific circumstances of the transfer. For instance, if you fund your transfers with a debit or a credit card, your bank might charge a transaction fee for that purpose.

Moreover, if the recipient chooses to receive the money through a cash pick-up service, there may be additional fees charged by the partner agent facilitating the transaction. 

Remitly has no control over third-party fees that may be charged by banks, payment processors, or other financial institutions involved in the transfer. These fees may include correspondent bank fees, intermediary bank fees, or recipient bank fees, and they can vary widely depending on the countries and institutions involved.

With that, we highly recommend that customers check with the recipient’s bank or other financial institutions to understand if any additional fees may apply before initiating a transfer with Remitly (or any other money transfer provider).

How Safe is Remitly?

Remitly takes several precautions to ensure the safety and security of its customers’ money and personal information.

Firstly, the company is authorized and regulated by various financial authorities in the countries where it operates, including:

• The U.S. Department of the Treasury in the USA;
• The Central Bank of Ireland in the European Union;
• The Financial Conduct Authority (FCA) in the UK;
• The Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) in Canada;
• The Australian Securities and Investments Commission (ASIC) in Australia.

Secondly, Remitly uses industry-standard encryption and security measures to protect customers’ personal information and financial data. The company employs multiple layers of encryption, including Transport Layer Security (TLS) and Advanced Encryption Standard (AES) encryption, to ensure that all customer data is transmitted securely and cannot be intercepted by unauthorized third parties.

Remitly also adds robust identity verification and fraud prevention measures, including the use of biometric and behavioral analytics technologies to detect and prevent fraudulent transactions.

To further enhance security, Remitly also undergoes regular security audits and assessments by independent third-party security experts, and the company’s security protocols are regularly reviewed and updated to ensure that they meet or exceed all industry standards.

How Fast is Remitly?

Let’s revert back to the two Remitly transfer methods: Economy and Express. They are unavoidable when talking about Remitly’s transfer speeds.

The Economy option typically takes 3-5 business days for the money to reach the recipient, while the Express option can deliver money within minutes.

The speed of the transfer depends on several factors, including the destination country, the payment method used, and whether any additional security checks are required.

For Economy transfers, the speed of the transfer is generally slower as the company leverages its network of partner banks and financial institutions to process the transaction.

For Express transfers, Remitly’s proprietary technology allows for fast, secure, and reliable transfers, with the money often arriving within minutes of the transaction being initiated.

In both cases, customers can track the progress of their transfer through Remitly’s website or mobile app, which provides real-time updates on the status of the transfer.

How to Use Remitly?

To use Remitly to make an international money transfer, customers can follow these steps:

1. Create an account: Customers can create a free account on Remitly’s website or mobile app. This involves providing the required personal information and verifying their identity;
2. Choose the recipient and destination: Customers can select the recipient and destination country for the money transfer;
3. Select the transfer speed and payment method: Customers can choose between Economy or Express transfer speeds and select a payment method, such as a bank transfer, debit card, or credit card;
4. Enter the transfer details: Customers must enter the amount they wish to transfer and provide any additional information required by Remitly, such as the recipient’s contact information;
5. Review and confirm: Customers should carefully review the transfer details, including the exchange rate, transfer fee, and any other fees, before confirming the transaction;
6. Fund the transfer: Customers can fund the transfer by transferring money from their bank account, using a debit card or credit card, or other payment methods discussed above;
7. Initiate and track the transfer: Once the money is on its way, customers can track the progress of their transfer using Remitly’s website or mobile app.

It is important for customers to carefully review all fees and charges associated with the transfer and to ensure that they provide accurate and up-to-date information for the recipient. Customers should also be aware of any transfer limits or restrictions that may apply.

Remitly’s Cancelation Policy

Remitly has a flexible cancellation policy that allows customers to cancel their money transfers at any time before the funds are delivered to the recipient. This can be a useful feature for customers who may need to change their plans or who’ve made an error when setting up their transfer.

To cancel a transfer, customers can log in to their Remitly account and go to the “Transactions” page. From there, they can select the transaction they want to cancel and follow the prompts to cancel it. If the transfer has not yet been delivered to the recipient, the funds will be returned to the sender’s account.

It’s worth noting that Remitly will NOT charge a cancellation fee even if the transfer has already been processed by them.

Note that once the transfer is intercepted by a third party, such as a bank or already delivered to the recipient, it’s impossible to have it canceled.

Remitly Customer Service

Remitly is one of the money transfer companies with the best customer support. They provide assistance through multiple channels to ensure that customers can get the help they need quickly and easily.

Remitly’s customer service is available 24/7 and is known for being responsive and helpful. The different ways that customers can reach out to Remitly’s customer service include phone, email, and live chat.

It’s worth noting that Remitly offers a FAQs section and a Help Center that cover a wide range of topics, including account setup, money transfer process, fees, security, and much more. They are available in 15 languages, including: English, Spanish, French, Portuguese, Vietnamese, Dutch, German, Polish, Romanian, Italian, Turkish, Chinese, Korean, Filipino, and Thai.

Remitly’s live chat support is available in English, Spanish, and French, and their phone support is available in English and Spanish.

How Does Remitly Compare With Its Competitors?

Remitly is a major player in the international money transfer industry, and its reputation for reliability, security, and customer service has helped it stand out from the competition. However, as with any service, it’s important to compare Remitly’s offerings with those of its competitors to determine which one is best for your individual needs.

Some of Remitly’s top competitors include CurrencyFair, CurrencyTransfer, and Wise. These services offer similar features and pricing, but each has its own strengths and weaknesses.

Below, we’ve compared Remitly to these three money transfer providers in terms of features, fees, speed, limits, coverage, and more, to help you make an informed decision about which service to use for your international money transfers.

Ultimately, the best choice for you will depend on your specific needs, including the amount you are transferring, the destination country, and how quickly you need the money to arrive.

Remitly vs. CurrencyFair

Feature	Remitly	CurrencyFair
Founded in	2011	2009
Trading Volume	$20.4 billion in 2021	$300 million each year on average
Trustpilot Rating	4.1 / 5	4.4 / 5
Suitable for	Remittances (small monthly money transfers to family or friends)	Both small and large money transfers
Transfer Fee	$0.00 – $50 depends on the selected countries, the transfer amount, and the payment method ($3.00 – $7.00 on average).	£2.50 (UK) €3 (EU)Currency equivalent for other currencies
Average Exchange Rate Markup	1% – 2.5% on mid-market rates on average (can range between 0.5% and 3.7%).	0.45% on mid-market rates
Minimum Transfer Amount	$1 (or currency equivalent)	€8.00 (or currency equivalent)
Maximum Transfer Amount	Depends on the sending and receiving country, the transfer amount, and the transfer method (from $3,000 to £150,000).	10,000,000 (same in every available currency)
Transfer Speed	Within minutes (Express delivery);3-5 business days (Economy delivery).	0-5 working days(0-1 working days on average)
Dedicated Dealer	No	Only for business clients
Countries Covered	Over 180 countries	Over 150 countries
Currencies Covered	Over 75 currencies	Over 20 currencies
Payment Methods	Bank account, credit or debit card, Passbook (USA), Klarna (Germany and Austria), SEPA (France), and iDEAL (the Netherlands).	Only by using a bank account.
Receiving Methods	Bank account, cash pick-up, mobile wallet, and home delivery.	Bank account
Cash Pick-Up Option	Yes (about 400,000 locations worldwide).	No
Instant Custom Quote	No	Yes
Business Features	No	Spot contracts, forwards contracts, market orders, digital multi-currency wallet, rate alerts, and API portal.
Flagship Debit Card	Yes (Passbook card)	No
Mobile App	Yes	Yes
Cancellation Policy	Only available for transfers that are still “in the hands” of Remitly. Once they are intercepted by a bank, transfers cannot be canceled.	Only possible as long as the money transfer hasn’t been matched already.

Read our full CurrencyFair review.

Remitly vs. CurrencyTransfer

Feature	Remitly	CurrencyTransfer
Founded in	2011	2014
Trading Volume	$20.4 billion in 2021	~$500 million in 2015
Trustpilot Rating	4.1 / 5	4.9 / 5
Suitable for	Remittances (small monthly money transfers to family or friends).	Large money transfers
Transfer Fee	$0.00 – $50 depends on the selected countries, the transfer amount, and the payment method ($3.00 – $7.00 on average).	None
Average Exchange Rate Markup	1% – 2.5% on mid-market rates on average (can range between 0.5% and 3.7%).	0.70% on the real mid-market exchange rate
Minimum Transfer Amount	$1 (or currency equivalent)	£5,000 (or currency equivalent)
Maximum Transfer Amount	Depends on the sending and receiving country, the transfer amount, and the transfer method (from $3,000 to £150,000).	No limit
Transfer Speed	Within minutes (Express delivery);3-5 business days (Economy delivery).	1-4 business days(1-2 business days on average).
Dedicated Dealer	No	Yes
Countries Covered	Over 180 countries	Over 170 countries
Currencies Covered	Over 75 currencies	28 currencies
Payment Methods	Bank account, credit or debit card, Passbook (USA), Klarna (Germany and Austria), SEPA (France), and iDEAL (the Netherlands).	Bank account
Receiving Methods	Bank account, cash pick-up, mobile wallet, and home delivery.	Bank account
Cash Pick-Up Option	Yes (about 400,000 locations worldwide).	No
Instant Custom Quote	No	Yes
Business Features	No	Spot contracts, forward contracts, exchange rate alerts, market orders, mass payments, FX derivatives, and API solutions.
Flagship Debit Card	Yes (Passbook card)	No
Mobile App	Yes	No
Cancellation Policy	Only available for transfers that are still “in the hands” of Remitly. Once they are intercepted by a bank, transfers cannot be canceled.	Booked currencies can be bought back from the selling provider with the costs falling on the customer.

Read our full CurrencyTransfer review.

Remitly vs. Wise

Feature	Remitly	Wise
Founded in	2011	2011
Trading Volume	$20.4 billion in 2021	£76.4 billion in 2022
Trustpilot Rating	4.1 / 5	4.5 / 5
Suitable for	Remittances (small monthly money transfers to family or friends).	Small money transfers.
Transfer Fee	$0.00 – $50 depends on the selected countries, the transfer amount, and the payment method ($3.00 – $7.00 on average).	Variable fee – 0.4% – 0.6% of total amount (on average);Fixed fee – £0.2 – £0.3 on average.
Average Exchange Rate Markup	1% – 2.5% on mid-market rates on average (can range between 0.5% and 3.7%).	No markup on mid-market rates.
Minimum Transfer Amount	$1 (or currency equivalent)	£1 (or currency equivalent)
Maximum Transfer Amount	Depends on the sending and receiving country, the transfer amount, and the transfer method (from $3,000 to £150,000).	$6,000,000 USD$1.8 million AUD$1.5 million CAD€6,000,000 EUR£5,000,000 GBP
Transfer Speed	Within minutes (Express delivery);3-5 business days (Economy delivery).	0-2 days (within minutes for over 50% of the transfers)
Dedicated Dealer	No	No
Countries Covered	Over 180 countries	Over 170 countries
Currencies Covered	Over 75 currencies	Over 50 currencies
Payment Methods	Bank account, credit or debit card, Passbook (USA), Klarna (Germany and Austria), SEPA (France), and iDEAL (the Netherlands).	Bank account, credit/debit card, Apple/Google Pay, PayPal.
Receiving Methods	Bank account, cash pick-up, mobile wallet, and home delivery.	Bank account or ATM (through online account)
Cash Pick-Up Option	Yes (about 400,000 locations worldwide)	No
Instant Custom Quote	No	Yes
Business Features	No	Batch payments, invoicing, multi-user access, recurring transfers, digital multi-currency wallet, rate alerts, and API integration.
Flagship Debit Card	Yes (Passbook card)	Yes
Mobile App	Yes	Yes
Cancellation Policy	Only available for transfers that are still “in the hands” of Remitly. Once they are intercepted by a bank, transfers cannot be canceled.	Users can cancel a transfer as long as they’re able to see the “cancel transfer” option on their transfer.

Read our full Wise review.

Remitly Customer Reviews

Remitly has generally positive reviews online, with many customers praising the service for its ease of use, low fees, and fast transfer times. On review sites like Trustpilot, Remitly has a high rating, with many customers giving the service 4 or 5 stars.

One of the most common positive comments about Remitly is the speed of its transfers. Many customers have reported that their transfers arrive within minutes, making it a quick and convenient option for sending money to loved ones abroad.

Customers also appreciate the low fees that Remitly charges for its services. While fees may vary depending on the destination and amount of the transfer, many customers have reported that Remitly’s fees are lower than those charged by traditional banks and other money transfer services.

Another common theme in customer reviews is the ease of use of the Remitly app and website. Customers have reported that the service is easy to navigate and that they appreciate the clear and transparent pricing information.

That being said, some negative reviews mention issues with customer service, such as difficulty reaching a representative or slow response times. Others have reported technical issues with the app or website. While these issues appear to be relatively rare, they have been mentioned in some negative reviews.

Positive Remitly Customer Reviews

Best company, they have the best customer service, especially the live chat. All of their contact services being calling or live chat are on top of the line. Their rates represent value for money for us who work hard to send money to our loved ones. I was disappointed when I used WorldRemit but when I was introduced to Remitly I felt that was why I didn’t know about them in the first place. Well done Remitly, keep it up with your good services.

– Sharon Nhika

One the most important thing is that I am not visiting any other site looking for a service and showing my information (ID) so, this app is very helpful, my relatives in Nicaragua has commented that they have received the money on time, and they have received the text message to obtain the money in the bank, in conclusion “excellent service” until this moment, no complains.

– Leo

I wonder what experience all these negative reviews have really with Remitly? The fastest and accurate money transfer to Cameroon mobile money account I have had in years is Remitly. Well, I haven’t tried cash pick-up and bank deposit. I will subsequently, and hope to get the same swiftness.

I had a double mind moving to Remitly from WorldRemit. I am glad I did after my wife convinced me of its genuineness. Exchange rate is higher and better with Remitly than WorldRemit. Few clicks on the app and you are done! You get instant feedback of what’s happening with your money. Glad I moved!

– Belmond Fominyen

I will be honest as it is only my way!!! I have used others more popular and they failed to make the delivery! Their failure costs more money! They asked why I was sending? I said it was none of their business! They refused to send any more! With Remitly I filled out their form and card and they sent the funds in the fastest way known to man! Please do not stop your good business practices!

– David Steele

Negative Remitly Customer Reviews

I am a loyal customer, I have been using Remitly for years as it is very convenient for me because they all have my recipients details. I really didn’t think of checking another remittance company then. But the exchange rates I get with Remitly are starting to come down and are no longer competitive.

So, what I learned is always compare with other remittance companies, Remitly have no loyalty to you as a repeat customer. Keep looking for a better exchange rate. My last 2 remittances I made are with Western Union, they have more competitive rates than Remitly if you are a regular sender.

– Al Maria

I used the Remitly app to send money to Brazil from Spain. I found the app difficult to set up. Eventually I was able to make a transfer which happened instantly. Then I wanted to transfer from Spain to the UK but couldn’t find the UK in the country list. I struggled to understand this and eventually got to chat online and was told the UK was not available.

Not sure why but was told that it may happen eventually. I had to use another provider which was a lot more expensive so I was quite disappointed. I hope that this situation will be resolved soon as overall I was pleased to have found Remitly and want to use it more often.

– Tom Laurence

First of all the transfer was really fast, less than 30 minutes the money was transferred. However due to the partner in Turkey (Vakıfbank) it was not possible to get it in cash. They first asked to open an account in EUR to transfer the money and waited 2 days to get the cash to the branch and pay. The 30 min transfer took 2 days and luckily the sender had an account in Vakıfbank, but if he did not have an account, he had to open a new one.

– Beslin Öztekin

Remitly Alternatives

VertoFX

VertoFX is an international money transfer service that’s a great alternative to Remitly for several different reasons. The key differences between the two services may impact which one is best for you and reveal why VertoFX might be the right for you.

One of the main differences between VertoFX and Remitly is their target customer base. VertoFX primarily targets businesses and high-net-worth individuals, while Remitly is designed for individual consumers. This means that VertoFX may offer more specialized services for businesses, such as hedging and risk management tools, that are not available through Remitly.

Another difference between the two services is their fee structure. Remitly charges a flat fee for each transfer, which varies depending on the amount and destination country. VertoFX, on the other hand, offers a more tailored fee structure based on the customer’s specific needs and volume of transfers. This can make VertoFX more cost-effective for larger businesses or individuals who regularly send large sums of money.

Revolut

Revolut is a popular choice for Europeans who are used to making remittance transfers in contrast to the American-based Remitly.

Revolut’s debit card is a highly sought-after feature for international travel and online payments. They offer fee-free transfers up to a certain amount and then charge a small percentage fee for larger transfers, which is a bit different than Remitly’s transfer-fees model

In terms of exchange rates, Revolut uses the interbank exchange rate, which is generally considered to be the most accurate and fair rate. Remitly’s exchange rate includes a markup on top of the mid-market rate.

OFX

OFX is another alternative to Remitly as it is a reputable and a reliable money transfer provider

They may be a better option for those who are looking to transfer larger amounts of money, as their percentage-based fee structure tends to be lower for larger transfers. Additionally, OFX supports transfers in some less-common destinations, which may be a deciding factor for those who need to transfer money there.

On the other hand, Remitly may be a better option for those who need to send smaller amounts of money, as their flat fee structure may be more cost-effective for smaller transfers. Remitly also offers a range of transfer speeds and options, including instant transfers in some cases, which may be important for urgent transfers.

Conclusion

With this article, we established a solid ground for anyone interested in researching Remitly as their potential money transfer provider. We’ve witnessed that, while Remitly has its own unique features and advantages, there are several competitors in the market, each with their own strengths and weaknesses. By comparing Remitly to other similar services you can determine which service best suits your individual needs and transfer requirements. 

In any case, we can speak with confidence when stating that Remitly provides a reliable and convenient service for sending money internationally. Their focus on customer satisfaction has earned them a strong reputation in the industry.

If you’re an immigrant or an expat residing in the US or the European Union, Remitly is definitely worth considering for your next international money transfer.

F.A.Q.

Also see:

Remitly vs OFX
Remitly vs Currencies Direct
Remitly vs CurrencyFair
Remitly vs TorFX
Remitly vs CurrencyTransfer