Remitly aims to offer quick and cheap international money transfers, with a focus on remittances throughout Asia. It's known for low minimums, cash pick-ups in destination countries and quicker express transfers, but isn't always the cheapest and doesn't always have the best rates.
Compare other sites like Remitly to see if there's a better option available for your transfer.
Wise is one of very few providers to offer money transfers at mid-market rates. Instead of benefiting from foreign exchange margins, its fees consist of a percentage of your transfer, plus a flat fee.
Send is an Australian-based company that specialises in larger transfers, so will often be better value than Remitly if you need to send a lot. There are no extra fees added on when you make a transfer, but there'll be a margin added onto the exchange rate.
Western Union is the world's oldest and largest money transfer service. Like Remitly, it's known for low minimums and cash pick-up options and is largely focused on handling remittances.
Why pick Western Union instead?
Offers a wider range of currencies
Delivers to 200+ countries
Lets you make cash deposits as well as pick-ups
Offers minimum transfers as low as $1
Downsides
Not suitable for large transfers
Fees vary depending on your transfer amount and destination
Xe Money Transfers is focused on offering competitive rates across a wide range of currencies and countries, although there are some gaps in its offerings. It charges a $4 fee for transfers below $500.
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OFX is a large and well-known transfer service, focused largely on business transfers. But you can also use it for personal money transfers to take advantage of its competitive rates. Its $250 minimum transfer size is larger than some, but still much more accessible than many other providers.
MoneyGram has almost the same range of countries and currencies as Western Union but tends to be cheaper, and it has a wider scope than Remitly. Much like Remitly, it's known for low minimums, cash options and fast transfers.
Instarem only offers zero-margin transfers for some currencies and during certain hours. The company doesn't make it clear which currencies and hours this applies to, but the fee schedule is clear and simple to understand. However, it has a limited range of currencies and offers bank-to-bank transfers only.
No margin on exchange rates — applicable only for certain currencies and certain trading hours
Earn reward points when you signup, send money and refer friends
Most transfers arrive within minutes or same day
Downsides
$200 minimum
Limited range of currencies and countries
No presence in the Middle East
No cash pickup options
Still looking for other options?
Our table below lets you compare services you can use to send money abroad. Compare fees, exchange rates and discounts from different money transfer services, and when you have made your choice, click Go to site.
Andrew Munro was the global cryptocurrency editor at Finder. During his time he covered all aspects of cryptocurrency and the blockchain. Before he became cryptocurrency editor, he was a content writer for Finder covering various topics over his nearly 5 years in the role. Prior to joining Finder he was a web copywriter. Andrew has a Bachelor of Arts from the University of New South Wales.
What are the best options for sending or receiving a large amount of money overseas? Read this $50,000 case study with exchange rates and fees comparison.
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