In this guide

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  • Details
    • Product details
  • Frequently asked questions
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Our verdict

Enjoy quick, easy money transfers with competitive exchange rates and straightforward fees.

Remitly is a solid option if you need to send money to one of the 100 countries it operates in and you can choose express delivery if your transfer is urgent. Your recipient also doesn't need to have a bank account as cash pickups, mobile wallets and home delivery are available in some countries alongside bank transfers. Another big plus to Remitly is its delivery promise - if your transfer doesn't arrive on time, your fees will be returned.

But there are low maximum limits to how much you can send and there aren't any forex tools to help your money go further. Remitly's exchange rates are also inconsistent with the markup varying depending on the country and the delivery speed.

  • Good for fast transfers and for sending money without ID verification.
  • Be wary of fees climbing up if you send large amounts with its express option.

In this guide

  • Our verdict
  • Details
    • Product details
  • Frequently asked questions
  • Your reviews
  • Ask a question

Details

Product details

Product Name Remitly
Pay By Bank transfer, Credit card, Debit card
Receiving Options Cash pickup location, Bank account, Mobile wallet, Home delivery
Customer Service Phone, Live chat
Maximum Transfer Amount $2,999
Number of Currencies 131

Why should I consider Remitly?

  • Large network. Remitly is an online international money transfer service that allows people in the US, Canada, Europe, Australia and the UK to send money to over 100 countries worldwide, with cash pickup possible at certain locations.
  • Delivery promise. Remitly guarantees that your money will be delivered by a specified time or the fees are refunded.
  • Speed. Express options make it possible to have your money there faster, typically within a few minutes if you pay by credit card.
  • Diverse delivery options. Send money to bank accounts, for cash pickup, directly to a mobile wallet or even for home delivery in select markets.
  • Rewards. Remitly's referral program makes it possible to earn rewards by referring friends and family members.

What to be aware of

  • Low maximum limits. A limit of $2,999 is placed on all new accounts, and you'll need more ID to increase daily, monthly and 180-day sending limits.
  • No hedging options. Remitly doesn't have recurring transfers, limit orders and any other hedging tools to help you save money by planning your money transfer in advance.
  • Inconsistent exchange rate margins. Different countries are charged different exchange rate margins, and the speed of your transfer also factors into the exchange rate you'll be offered.

How much are Remitly's transfer fees?

Remitly's fees and exchange rates vary based on sending destination but typically depend on the following:

  • Amount. The amount you send may change the fee you are charged.
  • Destination. Sending money to popular destinations is often cheaper than sending it to more remote locations.
  • Payment. Paying with a bank account is usually cheapest.
  • Speed. Remitly offers two transfer speeds: Express and Economy.

Sending money from Australia

Remitly's fees can vary based on the country you send from and to. For example, here are the fees charged by Remitly while sending from Australia to India when we checked on August 10, 2023.

    • Economy: $3.99 on transfers under $1,000
      • Paid for with a bank account deposit
      • Arrives in 3-5 business days
    • Express: $3.99 on transfers under $1,000
      • Paid for with a debit/credit card
      • Within minutes

      How are Remitly's exchange rates?

      Remitly exchange rates may vary depending on if you are using Remitly's Express or Economy. Additionally, for some countries, you'll find weaker exchange rates than those of competitors. It's best to compare the displayed rate on Remitly with the current interbank rate to calculate the size of the margin charged.

      You can then use this as a benchmark for comparing the rates of other money transfer providers. Typically, Remitly's markup onto exchange rate ranges from 1% to a little over 3%.

      New customers at Remitly

      Every new customer gets a special offer on their first transfer with Remitly. This is typically a stronger exchange rate and lower fees for a portion of your first transfer. Even if you aren't considering using Remitly consistently over time, you could potentially save yourself some money by taking advantage of its new customer promotion to make a one-off transfer.
      Check if there are any Remitly promo codes available

      Name Product Filter Values Fastest Transfer Speed Fees (Pay by Bank Transfer)
      Remitly
      Within minutes
      From $0
      Remitly has quick, affordable transfers around the world, with both express and economy options.
      loading

      What are the ways I can send money abroad with Remitly?

      Remitly offers a wide range of delivery options that are dependent on your sending destination. Delivery methods include:

      • Bank deposit. Funds will be sent directly to your recipient's bank account.
      • Cash pickup. You can opt for the funds to be delivered to a cash pickup location. Just be sure that your recipient brings ID that matches the name on the transfer.
      • Home delivery. Some banks offer an option to deliver directly to the recipient's home, but this takes longer than other transfers.
      • Mobile money. There is also the option to have funds delivered to a mobile wallet, such as GCash and PayMaya in the Philippines, HellowCash in Ethiopia and MercadoPago in Mexico.

      How to send a money transfer with Remitly

      You can send money quickly from your computer or the Remitly app by completing the following steps.

      What are Remitly's payment options?

      You can only make on-off transfers with Remitly, and you can pay using the following methods:

      • Debit or credit card. If you choose this option, funds can be available in minutes. However, you may find you are charged a 3% fee by your credit card provider if you choose to use your credit card to pay for your transfer.
      • Bank account. Typical transfer speeds with this type of payment option is 3-5 days, but these can also be subject to delays from bank holidays.

      How long does an international transfer with Remitly take?

      Transfer speeds will depend on the amount of fees you are comfortable paying and how quickly you need it to arrive.
      Express - as little as a few minutes
      If you pay for your transfer with a credit or debit card and select the Express option, your transfer could arrive in as little as a few minutes. However, you will pay a higher fee and your credit card provider could also charge you a cash advance fee, further increasing the cost of your total transfer.
      Economy - Up to five business days
      Remitly's Economy option is the cheaper of the two options. Transfers through Economy will be slower, but you'll almost always get a better exchange rate and fewer fees than with Express.

      Transfers typically takeClock icon for transfer speed

      1 to 5 days

      How much money can I send with Remitly?

      Remitly's transfer limits are based on the tier you're approved for. To progress through Remitly's tiers to higher maximums, you will need to provide more personal information and an ID:

      • Tier 1. Send up to $2,999 daily, $10,000 monthly and $18,000 every six months.
      • Tier 2. Send up to $6,000 daily, $20,000 monthly and $36,000 every six months.
      • Tier 3. Send up to $10,000 daily, $30,000 monthly and $60,000 every six months.
      • Custom tier. You can speak with a representative to discuss custom sending limits, depending on your needs.

      Sending money with Remitly

      You will need the following documents to make a transfer with Remitly:

      • Contact information. Your full name and contact information are needed. If you're transferring money from your bank account, you'll also need your banking information.
      • Proof of ID. A government-issued ID, such as a driver's license or passport.
      • Recipient information. Be prepared with your recipient's name and contact information. If you're transferring to a bank account, you'll also need their bank name, SWIFT code and account number.
      • Payment method. A valid method of payment is necessary for all transfers. Online transfers can be paid for through a bank account, credit card or debit card. For in-person transfers, you can also pay with cash.

      Please see the table below for what additional information is required to be approved for the higher tiers:

      Information neededTier 1Tier 2Tier 3
      Full nameXXX
      Residential addressXXX
      Date of birthXXX
      Government-issued photo IDXX
      Additional information on source of fundsXX
      Additional information at requestX

      Is Remitly safe to use?

      Remitly safeguards your money in a variety of ways:

          • Registering with regulatory agencies in the US, Canada, the UK and Ireland.
          • Protecting all transactions with 256-bit SSL encryption.
          • Monitoring accounts for suspicious activity manually and automatically.
          • Verifying new accounts to protect users from fraud.
          • Offering a 100% satisfaction money-back guarantee if your transfer arrives late.

      Is there a Remitly app?

      Screenshot of Remitly's app

      Yes, Remitly has an app on both Google Play and the App Store. The app makes it possible to do the following:

          • Log in using biometrics. Both face and fingerprint recognition can be used to log in.
          • Check Remitly exchange rates on the go. Current currency exchange rates and fees can be found in the app.
          • Share order details with your contacts. Sending key order information to your recipient can be done with just a few taps.
      Reviews as of August 10, 2023Ratings
      Google Play Store4.8 out of 5, based on 667,000 customer reviews
      Apple App Store4.8 out of 5, ‎based on 90,900 customer reviews

      More on the best money transfer apps

      How does Remitly compare to other money transfer services?

      Name Product Filter Values Fastest Transfer Speed Fees (Pay by Bank Transfer)
      TorFX
      24 hours
      $0
      TorFX sends money overseas in 40+ currencies, with competitive rates for transfer amounts over $2,000.
      Xe Large Transfers
      24 hours
      $0
      Xe has fast transfers with low fees and a range of foreign currency tools.
      OFX
      24 hours
      $0
      OFX has no maximum limit transfers, with competitive exchange rates for 50+ currencies.
      Send Payments
      24 hours
      $0

      Send provides fee-free transfers via its 24/7 multi-currency payments platform with real-time quotes.
      Revolut
      Within minutes
      $0
      Sign up and get a AUD$15 top-up. For new customers only. T&Cs apply.
      Send money with great rates and low fees in 30+ currencies.
      Xe Money Transfers
      Within minutes
      $0
      Xe has fast transfers with low fees and a range of foreign currency tools.
      Instarem
      Within minutes
      From 0%
      50% off first transaction fee from any country in APAC (outside India).
      Minimum transfer of $250 and max transfer of $500,000
      Wise (TransferWise)
      Within minutes
      From 0.43%
      Wise uses the mid-market rate and transparent fees to help you send money in 50+ currencies.
      TorFX
      24 hours
      $0
      TorFX sends money overseas in 40+ currencies, with competitive rates for transfer amounts over $2,000.
      Remitly
      Within minutes
      From $0
      Remitly has quick, affordable transfers around the world, with both express and economy options.
      Rocket Remit
      Within minutes
      From $0 to $5
      Send money instantly to friends and family in over 45 countries using just your mobile number.
      MoneyGram
      Within minutes
      From $1.99
      MoneyGram has fast cash pick-up transfers to more than 350,000 agent locations worldwide.
      SingX
      Within minutes
      From 0.5%
      SingX offers the real exchange rate every time you make a transfer and can help you send money across the world.
      CurrencyFair
      Within minutes
      €3
      CurrencyFair has bank-beating exchange rates and fast transfer times on 15+ popular currencies.
      OFX
      24 hours
      $0
      OFX has no maximum limit transfers, with competitive exchange rates for 50+ currencies.
      Send Payments
      Send Payments
      24 hours
      $0
      Send provides fee-free transfers via its 24/7 multi-currency payments platform with real-time quotes.
      MasterRemit
      Within minutes
      From $0
      Get your 1st and 2nd money transfer for free with promo codes FIRSTFREE and MASTERFINDER!.
      Send money in minutes at competitive exchange rates to the Middle East, Africa and South Asia.
      Western Union
      Within minutes
      From $0
      Western Union sends money online to friends and family in 200+ countries around the world.
      Qantas Business Money
      Within minutes
      $0
      Earn 1 Qantas Point per AUD$1 equivalent you convert into foreign currencies. Conversion limits and T&Cs apply.
      Set up accounts in 11 different currencies and get rewarded for global business payments by earning Qantas Points.
      TorFX Business Transfers
      24 hours
      $0
      TorFX guarantees to match any competitor's exchange rate. Conditions apply.
      TorFX sends money overseas in 30+ currencies, with competitive rates for transfer amounts over $2,000.
      OFX Business Transfers
      24 hours
      $0
      OFX has no maximum limit transfers, with competitive exchange rates for 45+ currencies.
      WorldFirst
      24 hours
      From $0
      Open bank accounts in Australia, the UK, US, Canada, Japan and Europe. Send and receive funds with zero fees for large sums, including same-currency supplier payments.
      Send business
      24 hours
      $0

      Send provides fee-free transfers via its 24/7 multi-currency payments platform with real-time quotes.
      loading

Frequently asked questions

Sources
  1. Remitly official website, accessed January 2024

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