Remitly vs Moneycorp: Fees & Reviews Compared

Both Remitly and Moneycorp are popular international money transfer services. But which one is better?

Below we compare them on their fees and reviews.

Fees

	Remitly	Moneycorp
Homepage
Transfer Fee	$0.00 – $50 depends on the selected countries, the transfer amount, and the payment method ($3.00 – $7.00 on average).	No fee for online transfers £15 for transfers over the phone.
Average Exchange Rate Markup	1% – 2.5%	1% – 2%
Minimum Transfer Amount	$1	50
Maximum Transfer Amount	Depends on the sending and receiving country, the transfer amount, and the transfer method (from $3,000 to £150,000).	£100,000 (or currency equivalent) for online transfers. No limit for transfers over the phone.

Reviews

	Remitly	Moneycorp
Trustpilot Rating	4.1	4.3
Number of Trustpilot Reviews	41,300	6,300
iOS App Rating	4.9	2.1
Number of iOS App Reviews	1,200,000	120
Android App Rating	4.8	N/A
Number of Android App Reviews	666,000	N/A

Features

	Remitly	Moneycorp
App Transfers	Yes	Yes
Online Transfers	Yes	Yes
Phone Transfers	No	Yes
In-person Transfers	No	No
Available Countries	180	190
Number of Currencies	75	35
Payment Methods	Bank account Debit card Credit card iDeal Passbook Klarna	Bank account Debit card Check
Receiving Methods	Online wallet Bank account Cash pickup Home delivery	Bank account
Cash Pickup Option	Yes	No
Payments Flexibility	Web platform Mobile app	Web platform Mobile app Phone
Supported Languages	English, Spanish, French, Portuguese, Vietnamese, Dutch, German, Polish, Romanian, Italian, Turkish, Chinese, Korean, Filipino, and Thai	English, Portuguese, French, Romanian, and Spanish
Transfer Speed	Within minutes (express delivery) 3-5 days (economy delivery)	1-2 days
Dedicated Dealer	No	Yes
Instant Custom Quote	No	No
Business Features	N/A	Spot contracts Forwards contracts Market orders Limit orders Stop-loss orders Recurring transfers Vanilla options Zero-cost options Rate alerts
Debit Card	Passbook	None
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.	Each individual transfer’s cancellation can be discussed upon contacting a Moneycorp representative. Generally, most transfers that haven’t been completed can be canceled and refunded.
Suitability	Small money transfers	Small and large money transfers

Company Comparison

	Remitly	Moneycorp
Year Founded	2011	1979
Headquarters	Seattle, WA, USA	London, UK
Other Office Locations	Spokane (WA, USA), Cork (Ireland), Managua (Nicaragua), Manila (Philippines), Krakow (Poland), London (the UK), Amsterdam (the Netherlands), Tel Aviv (Israel), and Singapore	Dublin (Ireland), Toronto (Canada), Gibraltar, Madrid, Costa Blanca, and Costa Del Sol (Spain), Bucharest (Romania), Dubai (UAE), Washington DC, Orlando, and Providence (USA), Hong Kong, and São Paulo (Brazil)
Annual Trading Volume	$20.4 billion	£38 billion
Number of Employees	1600	900
Number of Clients	3 million	N/A
Regulatory Institutions	Department of the Treasury in the USA FINTRAC in Canada FCA in the UK ASIC in Australia Central Bank of Ireland in EU	FinCEN and the Federal Reserve Bank of New York in the USA FINTRAC in Canada FCA and the HMRC in the UK Dubai Financial Services Authority in UAE Central Bank of Brazil in Brazil Central Bank of Ireland in Ireland CED in Hong Kong GFSC in Gibraltar
Awards	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)	Travel Money Provider of the Year (Moneyfacts Consumer Awards, 2015,2016) Top Track 250 (The Sunday Times, 2017) Gold Trusted Service Award (Feefo, 2018, 2019) Best Money Transfer Service Provider (The World Banking Awards, 2019) Platinum Trusted Service Award for consistently delivering excellence (Feefo, 2020) Money Transfer Provider of the Year (MoneyAge Awards, 2019, shortlisted in 2020) Best Cross-Border Payments Service (Payment Awards, shortlisted in 2020) Best Cross-Border Payments Infrastructure (Payment Awards, shortlisted in 2020) Foreign Exchange Services finalist (The Private Equity Service Provider Awards, 2020)

Remitly Pros & Cons

Remitly Pros

• Plenty of ways to fund your transfer
• Excellent customer service
• Decent Trustpilot rating
• Fixed transfer fees
• A knowledge base that’s a treasure trove of knowledge
• Extensive global coverage
• Trade 75 different currencies
• Top-tier mobile app
• No minimum transfer limit when sending
• Instantaneous money transfers
• Worldwide locations for cash pickup

Remitly Cons

• Not great for large money transfers
• Doesn’t provide dedicated account managers
• Exchange rates spreads can be large
• No option for instant custom quotes

Moneycorp Pros & Cons

Moneycorp Pros

• Exceptional customer support
• Respectable Trustpilot rating
• Zero fees for transfers conducted online
• Unlimited transfer amounts for phone transactions
• Operational in more than 190 nations worldwide
• Impressive range of supported currencies
• In-depth local expertise
• Decades of industry experience
• Speedy money transfers
• Broad array of features for businesses
• Multilingual services
• Robust regulatory compliance

Moneycorp Cons

• Limited funding methods
• Lack of support for less-common currencies
• No option for instant personalized quotes

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