Wise vs Remitly: Fees & Reviews Compared

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

Below we compare them on their fees and reviews.

Fees

	Wise	Remitly
Homepage
Transfer Fee	Variable fee – 0.4% – 0.6% of total amount (on average) Fixed fee – £0.2 – £0.3 on average.	$0.00 – $50 depends on the selected countries, the transfer amount, and the payment method ($3.00 – $7.00 on average).
Average Exchange Rate Markup	No markup	1% – 2.5%
Minimum Transfer Amount	$1	$1
Maximum Transfer Amount	$6,000,000 USD $1.8 million AUD $1.5 million CAD €6,000,000 EUR £5,000,000 GBP	Depends on the sending and receiving country, the transfer amount, and the transfer method (from $3,000 to £150,000).

Reviews

	Wise	Remitly
Trustpilot Rating	4.3	4.1
Number of Trustpilot Reviews	193,700	41,300
iOS App Rating	4.6	4.9
Number of iOS App Reviews	29,500	1,200,000
Android App Rating	4.7	4.8
Number of Android App Reviews	503,000	666,000

Features

	Wise	Remitly
App Transfers	Yes	Yes
Online Transfers	Yes	Yes
Phone Transfers	No	No
In-person Transfers	No	No
Available Countries	170	180
Number of Currencies	50	75
Payment Methods	Bank account Debit card Credit card Direct debit Apple Pay Google Pay iDeal Trustly SOFORT POLi PayPal	Bank account Debit card Credit card iDeal Passbook Klarna
Receiving Methods	Online wallet Bank account	Online wallet Bank account Cash pickup Home delivery
Cash Pickup Option	No	Yes
Payments Flexibility	Web platform Mobile app	Web platform Mobile app
Supported Languages	English, Spanish, French, Portuguese, Italian, German, Chinese, Japanese, Indonesian, Hungarian, Ukrainian, Polish, Romanian, Turkish, and Russian	English, Spanish, French, Portuguese, Vietnamese, Dutch, German, Polish, Romanian, Italian, Turkish, Chinese, Korean, Filipino, and Thai
Transfer Speed	0-2 days (within minutes for over 50% of transfers).	Within minutes (express delivery) 3-5 days (economy delivery)
Dedicated Dealer	No	No
Instant Custom Quote	Yes	No
Business Features	Recurring transfers Batch payments Invoicing Multi-user access Digital multi-currency wallet Rate alerts API integration	N/A
Debit Card	Wise multi-currency debit card	Passbook
Cancellation Policy	Users can cancel a transfer as long as they’re able to see the “cancel transfer” option on their transfer	Only available for transfers that are still “in the hands” of Remitly. Once they are intercepted by a bank, transfers cannot be canceled.
Suitability	Small money transfers	Small money transfers

Company Comparison

	Wise	Remitly
Year Founded	2011	2011
Headquarters	London, UK	Seattle, WA, USA
Other Office Locations	London (UK), Austin, Dallas, Tampa, and New York (USA), Bangkok (Thailand), Dubai (UAE), Riyadh (Saudi Arabia), Hong Kong (Hong Kong), Shanghai (China), Singapore (Singapore), Tokyo (Japan), Seoul (South Korea), Jakarta (Indonesia), Kuala Lumpur (Malaysia), Manila (the Philippines), Mumbai (India), Brussels (Belgium), Budapest (Hungary), Cherkasy (Ukraine), Tallinn and Tartu (Estonia), Zürich (Switzerland), São Paulo (Brazil), Mexico City (Mexico), Cape Town (South Africa), Sydney and Melbourne (Australia)	Spokane (WA, USA), Cork (Ireland), Managua (Nicaragua), Manila (Philippines), Krakow (Poland), London (the UK), Amsterdam (the Netherlands), Tel Aviv (Israel), and Singapore
Annual Trading Volume	£76.4 billion	$20.4 billion
Number of Employees	4500	1600
Number of Clients	16 million	3 million
Regulatory Institutions	FinCEN in the USA FINTRAC in Canada FCA in the UK ASIC in Australia National Bank of Belgium in the EU	Department of the Treasury in the USA FINTRAC in Canada FCA in the UK ASIC in Australia Central Bank of Ireland in EU
Awards	Best European Startup Under 3 Years Old (Europas, 2013) One of The World’s Top 10 Most Innovative Companies in Finance (Fast Company Magazine, 2014) Boldest Smaller Company (FT’s Boldness in Business Awards, 2014) Ernst and Young UK Entrepreneurs (2015) Top 20 out of 50 on Glassdoor’s Best Places to Work in the UK (2022) Made it in the FinTech50 list (in 2013, 2014, 2017, 2018, 2019, and 2021)	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)

Wise Pros & Cons

Wise Pros

• No markups on exchange rates
• Comprehensive global service reach
• Impressive currency support
• Widespread local presence with branches in more than 28 countries
• Custom quotes are available without signup
• Diverse payment methods encompassing bank accounts, debit and credit cards, PayPal, and more
• Highly rated on Trustpilot
• In-depth knowledge repository
• Ideal for small transactions
• Fast money transfers, with half of all transactions completed in minutes and the rest within 0-2 days
• Outstanding web platform and mobile app experience

Wise Cons

• Some Challenges with customer service
• Cash pickup isn’t an option
• Lack of dedicated currency dealers
• Less-frequented countries and currencies might incur high transfer fees
• Inadequate for large monetary transfers
• No support for lesser-traded currencies

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

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