Remitly review

Remitly Fees and Rates

Remitly offers fast and competitively priced money transfers to over 170 countries. Remitly’s fees can vary greatly depending on where you need to send money to and how fast you want it to arrive.

Transfer fees vary between countries so we’d recommend checking the cost for the specific country you want to send money to after downloading the app. It’s also important to note that Remitly adds a margin when calculating the exchange rate you will receive for your transfer. Remitly’s exchange rates are competitive and are typically only between 0.5% and 2% worse than mid-market rates, which means it is still a cost-effective solution for transferring money home.

There’s no way around this fee when using Remitly. This is how the company makes money on low-fee transfers.

How Does it Work?

Remitly enables you to send money to 170 countries around the world.

To sign up with Remitly and initiate a transfer, simply follow these steps:

• Create a new account online and choose a username and password. Make sure it’s secure since you’ll be linking payment information.

• Choose a country, recipient, and transfer method. Remitly will display a guaranteed exchange rate and show you all fees associated with your transfer.

• When you’re ready, hit ‘Send.’ You can track the status of your transfer through your online account and Remitly will notify you when the transfer is complete or the money is picked up.

Note: Remitly also offers mobile apps for iOS and Android that you can use to initiate and track transfers.

How Do I Pay?

In most countries, you can fund your transfer quickly and easily via debit/credit card or bank deposit. You can also choose how your beneficiary receives their funds. Recipients can receive money via their bank account, cash pickup, home delivery or mobile wallet - however not all options are available in every country, so check online or in the app that they have the option you need.

How Long Does it Take?

There are two speed options when sending money: Express and Economy. Express might cost you slightly more, however funds will be received within minutes of making a transfer. With the Economy option funds can take between 1 and 5 days, but you’ll save on transfer fees. Remitly has a 100% satisfaction guarantee, so if you don’t receive your money on time you’ll get your fees back.

Remitly Top Highlights

Send money fast and easy with Express or Economy transfer options to 170+ countries. Enjoy flexible delivery methods and track transfers in real time.

• Send money to 170+ countries across 4 continents - Europe, Africa, South America, and Asia.

• Transfer instantly with Express or save money on fees using the Economy transfer option.

• Transfers in local currencies are often inexpensive and the exchange rate margins are low.

• Send money in the local currency or transfer US dollars (only available in some countries).

• Thousands of cash pickup locations worldwide for recipients without access to mobile banking or e-wallets.

• Easily check the status of your transfer through your Remitly account.

• Get in touch with Remitly’s support team around the clock.

Customer Support

Remitly currently offers live chat support 24/7 in English, French and Spanish. Phone support is available 24/7 in English and Spanish. The company’s website also has a useful help center. You’ll find articles covering everything from transfer limits to tracking funds.

Privacy and Security

Remitly takes a number of steps to make its service more reliable. The platform offers an on-time guarantee. If your transfer takes longer than expected, Remitly will refund your transfer fee (but not the exchange rate margin). Remitly also enables you to secure your account using two-factor authentication to prevent unauthorized transfers.

Bottom Line

Remitly makes it easy and affordable to send money to family and friends around the world. The service is built with migrant workers and immigrants with family abroad in mind. Recipients can pick up cash and receive it in their bank accounts with the ability to choose between Express and Economy transfer speeds. Remitly also keeps its fees fairly low, which is a major advantage if you’re sending money with any regularity.