Remitly¹ is a money transfer service which offers international payments from 21 countries – including Singapore – to over 100 receiving countries around the world, on common remittance routes.

In this full Remitly review we’ll look at how Remitly payments work, what they cost and how safe they are. To make sure you get the best possible deal on your next international transfer, we’ll also compare Remitly with low cost payment specialist Wise. Let’s dive right in.

What is Remitly and is it available in Singapore?

Remitly is a money transfer service which allows people in 21 countries to set up online payments to be received in cash or deposited in bank accounts in over 100 countries around the world.

Not all services are available in all locations – but from Singapore you can send money to 80+ countries², instantly, using a Visa or Mastercard debit or credit card. Here are some key points:

• Set up your payment online or in the Remitly app
• Pay with bank card for convenience
• Your funds can be deposited instantly in your recipient’s bank account – or collected in cash at an agent near them
• Remitly payments are for personal use only – not for business transfers
• Send up to 5,000 SGD per day with a Tier 1 account, or up to 45,000 SGD per day with a Tier 3 account³
• Remitly is MAS regulated in Singapore

It’s important to note you can’t send money from one ‘send’ country to another. That means from Singapore you can’t send to a number of larger developed economies, like the USA, UK or Australia. However, you can send your money to bank accounts or for cash collection in Remitly’s selected countries which reflect common remittance routes. That makes Remitly a popular choice for people working in Singapore and sending money home to friends and family.

Is Remitly safe?

Before you trust them with your money you probably want to know: is Remitly legit?

Remitly is a safe and trusted provider, which is regulated by the Monetary Authority of Singapore⁴ and a range of other regulatory bodies around the world. On top of this, Remitly uses in-house technology to prevent fraud, has secure payment systems in place, and works in partnership with reputable financial institutions around the world to keep customers and their money safe.

Remitly exchange rates and money transfer fees

With a Remitly international money transfer you may run into several different fees:

• Transfer fee – this is clearly stated when you set up your payment
• Exchange rate markup – you’ll need to calculate this yourself
• Third party fees – not paid to Remitly, but these can increase costs nonetheless

Often the most costly of all these fees is the exchange rate markup. To find the Remitly rate today for your currency, you’ll need to head to the Remitly desktop site or download the app. To get a quote for your specific transfer you’ll need to register an account, where you’ll see the options, fees and exchange rates available for your transaction.

When you’ve found the Remitly exchange rate it’s worth comparing it to the mid-market rate for your currency, which you can get from Google. If the Remitly rate is different to the Google rate it probably means there’s a markup or margin added – an extra fee. This is common among banks and money transfer services, but it also means it’s harder to see exactly what you’re paying for your transfer as the costs aren’t fully split out.

On top of the exchange rate fee you’ll also pay a transfer fee which is set according to the currency. Finally, it’s worth checking if any third party fees are likely to creep in – charges paid to your credit card for the cash advance, or recipient fees levied by the recipient’s bank, for example.

Remitly payment limits

It’s helpful to know that there are different limits depending on the Remitly account tier you hold. You can increase your account tier – and the limits – by providing extra verification information.

Here are the limits you need to know about:

Limit/Tier	Tier 1	Tier 2	Tier 3
24 hours	5,000 SGD	15,000 SGD	45,000 SGD
30 days	15,000 SGD	30,000 SGD	90,000 SGD
180 days	30,000 SGD	60,000 SGD	180,000 SGD

Additional limits may apply based on the currency, destination and the payment type.

To help you pick the perfect provider for your next payment let’s compare Remitly to another option in Singapore – Wise.

Remitly vs Wise (formerly TransferWise)

	Remitly	Wise
Send payments to	80+ countries on common remittance routes	80+ countries, including USA, UK and Australia
Exchange rates	Exchange rates may include a markup	Mid-market exchange rate with no markup
Transfer fees	Fees vary by destination and payment type	Fees vary by destination and payment type
Pay in options	Visa or Mastercard debit or credit card	Bank transfer, credit or debit card, PayNow, Wise account balance
Pay out options	Bank deposit or cash collection – services available vary by destination country	Bank deposit
Limits	Limits apply based on account tier – from 5,000 SGD/day to 45,000 SGD/day	Up to 1 million SGD per transfer
Business payments available	Not available	Available
Multi-currency accounts and linked cards available	Not available	Available

While Remitly and Wise have some overlapping services, they probably appeal to quite different customers. Remitly offers pay out options including cash collection, and covers common remittance routes only – making them a popular service for people working in Singapore and sending money home to loved ones, especially if they can’t get easy access to a bank account.

Wise on the other hand is a specialist in international transfers direct to bank accounts, offering a broad range of destination countries with low transfer fees and the real mid-market exchange rate. On top of that, Wise offers a multi-currency account and linked debit cards, which can be used to receive fee free payments and make cash withdrawals globally – handy if your recipient needs to get some cash fast, and can access an ATM.

It’s worth comparing Wise’s overall costs with Remitly, to see which suits you best.

Typically, Wise wins on a few points:

• Wise uses the real exchange rate with transparent pricing
• Wise has a broader range of pay in methods, including bank transfer and PayNow
• Wise covers both personal and business payments
• Wise has higher transaction limits
• Wise offers multi-currency accounts for personal and business customers
• Wise offers an international debit card for spending online and in person, plus cash withdrawals all over the world

Take a look at Wise for low cost international transfers which use the real exchange rate – and can get your money where it needs to be far quicker than a bank, with lower fees.https://wise.com/widget/calculator?sourceCurrencyCode=SGD&targetCurrencyCode=USD&amount=1000&cta=Get%20started&hideCta=false&hideDetails=false&lang=en&theme=

How use Remitly to send money abroad

Let’s look first at how to create a Remitly account. You can use the desktop site or app, but the processes are slightly different.

To join on the desktop site⁵:

1. Select Join Now
2. Enter your email address and password
3. Select Join

To use the Remitly app:

1. Download the Remitly app
2. Enter the country you’re Sending from, where you’re Sending to
3. Tap Next
4. Enter your email address
5. Enter a password
6. Select Join Remitly

Once you have your account up and running it’s pretty easy to send payments. Here’s a walk through the process⁶.

1. Sign into Remitly on the webpage or open the Remitly app
2. Select Get started or Send money
3. Enter the amount you want to send and the pay out method
4. Add recipient information
5. Connect your preferred payment card
6. Review, and when you’re ready, hit Send money
7. You’ll see a confirmation screen once the payment is finalised

Eligibility requirements

To use Remitly in Singapore you must be a Singapore citizen or resident, aged over 18, and with valid ID documents. Documents required for verification must show your identity and your home address. If you have one document which includes all this information – like an NRIC card with your home address on it – you can use that. If not, you’ll need to upload 2 documents to cover both requirements.

Documents used to prove your identity can include⁷:

• NRIC
• Passport
• Dependent pass
• Employment pass
• Singapore work permit
• S Pass
• Visit pass

Documents used to prove your address can include:

• Bank statement
• Lease agreement
• Phone bill
• Pay stub

How long does a Remitly transfer take?

From Singapore all Remitly transfers are funded by bank card – which means they can often be delivered instantly to the recipient.

Summary

You can use Remitly in Singapore to send payments to bank accounts or for cash collection to over 80 countries on popular remittance routes. This makes it a popular service for people remitting money home – but does mean you can’t send with Remitly to some major developed economies like the US, UK, Australia and many European countries.

Remitly’s differentiating factor is probably that you can send money for cash collection instantly, through an agent network in its supported countries. However, if you’re looking for a payment to a bank account directly, Remitly may not be your best option. Compare the fees and exchange rate on offer for your transfer against those available from Wise to see if you can get a better deal.

Remitly is an international money transfer and remittance company, focused on helping people send money home from abroad. They offer a variety of delivery options including cash pickup, mobile money and airtime top up. Remitly IPO’d on the NASDAQ in 2021.

If you’re looking to send money abroad, you’ve probably come across Remitly in your research.

You’ll most likely have come across a bunch of other companies too.

To the naked eye, they all look like clones of one another.

But actually, they all offer varying exchange rates, features and levels of customer service.

In my review of Remitly, I’ll explore if they’re safe to use, how much they cost, what their customers are saying about them and what features / payout options they have.

I’ve then scored them out of 5 for each category, giving me a final TopMoneyCompare rating.

Finally, I’ll discuss whether Remitly is the right company for you, if they aren’t, and any alternatives that might be better.

HOW DID I REVIEW REMITLY?

AboutPros & ConsFacts & Figures

itly is an international money transfer and remittance company.

They’re primarily used by expats and travellers who want to send money home.

This might be repatriating a salary, or just supporting loved ones abroad.

Remitly was founded in the USA in 2011 by Matt Oppenheimer and Josh Hug.

They sought to provide U.S. immigrants with a quick and cheap method to send money home.

As of 2022, they now have 7 offices around the world and provide their services internationally.

Over the last decade, Remitly has received a whopping $505 million in investments.

Investors include:

• QED Investors
• Threshold
• Stripes
• PayU
• Visa

In 2021, they went public on the NASDAQ, valued at $6.9billion.

This followed in Wise’s footsteps, who IPO’d just 3 months prior.

Is Remitly safe?

Remitly is a very safe company and can be trusted with your money.

In a summary, here’s why:

• Authorised and regulated in multiple countries
• Publicly listed on the NASDAQ
• Client money is held in separate, protected accounts
• Tens of thousands of Trustpilot reviews
• A number of known investors

However, there is one indicator that you need to watch out for.

I’ll explain in more detail below.

I’ve scored Remitly a 4.7/5 for safety.

Is Remitly legit?

Remitly is authorised and regulated by the following entities:

1. Financial Conduct Authority (UK)
2. Central Bank of Ireland (EU)
3. US Dept. of Treasury
4. ASIC (Australia)
5. Monetary Authority of Singapore

Getting regulated is no easy task.

You must prove that you’re safe and reliable with client money over a period of time.

This includes having all of the necessary departments and procedures in place to ensure client safety.

To have regulation in 5 different jurisdictions shows how safe they are as a company.

Alongside their regulation, they’re also publicly listed on the NASDAQ.

I think it goes without saying that any publicly listed company is legitimate.

Is your money safe with Remitly?

A requirement of their regulation is to keep client money separate from company money.

These separate accounts are what’s called “ring-fenced and safeguarded”.

The money in these accounts cannot:

1. Be invested
2. Earn interest
3. Be used to pay debts

So, if Remitly became insolvent (went bust), they can’t use your money to pay their debts.

There’s just one scenario that your funds are at risk.

If the liquidators own costs to redistribute client money exceed the cash held by Remitly, they’re entitled to claim this back from the pool of client funds.

In the UK, high-street banks are bound by a scheme called the Financial Services Compensation Scheme (FSCS).

This scheme entitles customers of the bank to up to £85k of their money back, if the bank went under.

Anything over £85k will be lost.

This is why the wealthy like to spread their money across different institutions.

With any regulated money transfer company, including Remitly, there is no limit on the amount you can claim back.

Therefore, I’d say that they’re arguably safer to use than your UK bank.

Is Remitly trustworthy?

Remitly has gathered nearly 40k reviews on Trustpilot.

While maintaining an OK rating, too.

I’d say you could trust your money with a company that has that many reviews.

However, you do need to look at what the comments are saying.

I’ve analysed their Trustpilot page here.

I’ve also taken a look at their company accounts to see how healthy they are.

Here’s some key points from 2022:

• Total transfer volume of nearly $30 billion, up by 40%
• Revenue up by 43%
• Net loss of $114 million

These numbers are similar to that of close competitor WorldRemit, who also had big losses of nearly $100 million.

Despite Remitly making a heavy loss, they’re still on a good growth trajectory.

Just like WorldRemit, they’ve got some notable investors, so they can take the hit.

However, I’m not sure if their shareholders will stick around if they keep making heavy losses.

Overall, Remitly is a very trustworthy company, but it would be a good idea to keep an eye on their figures if you plan to use them long term.

Remitly exchange rates

Remitly offers some good exchange rates and some that are not-so-good.

You’ll get better rates with Remitly compared to your bank, but sometimes there are other money transfer providers who are better.

Remitly’s rates vary based on:

• Send and receive countries
• Amount transferred
• Payout method

It’s typical for the more exotic (less common) countries to have worse exchange rates.

However, there’s no real consistency.

It may come down to the currency needed, with Remitly’s banking partners offering different spreads with different currencies.

You’ll also find that you’ll get a better rate with larger transfers.

When I say a “better rate”, I mean Remitly applying less of a markup (A.K.A ‘spread’ or ‘margin’) to the mid-market exchange rate.

The ‘spread’, or ‘margin’ is the difference between the rate the provider receives when buying the currency, and the rate they give to you when they sell. In other words, it’s the profit they make on the transaction.

Overall, I’ve worked out Remitly’s markup to be between 0.5% and 2.5%.

Again, this varies based on the points listed above.

Remitly transfer fees

Remitly offers transfer fees that vary from 99p to £3.99, depending on the currency and payout method. 

Although seemingly small, these fees can stack up when making frequent transfers. 

You have the choice between an ‘economy’ fee and an ‘express’ fee.

Express transfers are quicker than economy, and so have a higher cost.

Here’s a quick table with some examples:

Destination	Economy fee	Express fee
Brazil	£1.99	£2.49
Thailand	99p	£1.99
Poland	£1.99	£1.99
Romania	£1.99	£1.99
India	£3.99	£3.99

Remitly’s flat fee structure means that the same fee applies, regardless of the transfer amount. 

Wise, on the other hand, charges a percentage fee between 0.3% and 0.45% of the transfer volume.

For example, a £2,000 transfer with Wise will cost roughly £8, and between 99p and £3.99 with Remitly.

For smaller amounts, Wise may charge a lower fee, while Remitly’s fee may be smaller for larger amounts.

The catch is that Remitly applies a mark-up on their exchange rates, while Wise does not. 

So, although Wise may charge a higher fee, they may still be cheaper overall. 

After looking at Remitly’s exchange rates and transfer fees, I’ve scored them a 2.3/5 for cost.

Remitly reviews

Remitly has over 40k reviews on their Trustpilot page, with an average rating of 4.0/5.

Remitly has a 4.0/5 rating on Trustpilot

79% of their reviews are 5 stars, and 11% are 1 star.

Their 4.1 rating is better than WorldRemit’s 3.9, but worse than XE’s 4.3.

I’ve scored Remitly a 4.1/5 for customer satisfaction.

Remitly positive reviews

Here are some positive things that people have to say about Remitly:

• Very quick transfer speed (some in minutes!)
• Easy to use mobile app
• Friendly and informative customer service

Nearly all of their good reviews mention a very speedy transfer time.

With a large portion of Remitly’s transfers going through cash pickup, mobile money and airtime, this is to be expected.

These transfer types are usually instant.

Remitly negative reviews

Here are some negative comments about Remitly’s service:

• $300 transfer put on hold, bank statements requested
• Accounts ‘flagged’ after a certain number of transactions
• “Insurmountably bad service”

Unfortunately, the first two points are often unavoidable.

Remitly is authorised and regulated in multiple countries, alongside being on the NASDAQ.

Thus, they have a much higher level of compliance to adhere to.

This might mean holding payments to request more information, or just closing accounts all together if they can’t justify legitimacy.

A lot of Remitly’s business operates in ‘high-risk’ countries, so they have to be diligent.

Just be prepared for Remitly to ask for more information at some point.

I also read a couple of reviews regarding their customer service.

Very long hold times, promised callbacks that weren’t fulfilled, unhelpful agents…

This is a common theme with a lot of companies nowadays.

They grow so big so quickly, and can’t handle the demand.

Not everyone had this experience, however.

Some customers have left 5 star reviews about the customer service.

You’ll just have to roll the dice and hope you get lucky.

Remitly service, features and availability

Remitly offers varied delivery methods and an extremely popular mobile app.

However, their customer service is often lacking.

So, while they’ve got some good technology, they need to work on the human element of their service.

A customer will always double-down on their issues if there’s no one available to solve them.

Overall, I’ve scored Remitly a 2.6/5 for service, features and availability.

Remitly mobile app

Remitly’s mobile app has over 1.3 million ratings on the App Store, and over 750k ratings on the Google Play Store.

Even with this insane amount of ratings, they still maintain a score of 4.9/5 and 4.8/5 respectively (near perfect).

Personally, I’d have to agree with the consensus.

It’s a really tidy, easy to use app, built with all the necessary features.

Here’s what you can do using the Remitly mobile app:

• Make transfers using debit card, credit card or bank transfer
• Add and manage recipients
• Track your transfers

There’s nothing you can’t do on the app that you can on their website.

Remitly’s app is the most popular money transfer app on the App Store (if you exclude PayPal).

They currently sit at 28th in the Finance category overall.

Remitly delivery methods

Remitly offers four delivery methods for transferring money internationally:

• Bank transfer
• Cash pickup
• Mobile money
• Airtime top up

Let’s take a closer look at each of these options.

Bank transfer

This method involves depositing the funds directly into the recipient’s bank account. 

The recipient can then withdraw the money as cash or use it for payments or bank transfers. 

However, this option may not be available for some exotic currencies and countries.

Cash pickup

With cash pickup, the recipient can collect the transferred money in cash from one of Remitly’s partner locations. 

The funds can usually be picked up instantly after the transaction is completed, making this a popular option for African currencies.

Mobile money

This method allows you to send money directly to a mobile money wallet. 

While mobile money accounts aren’t as common in Europe, over half of Remitly’s transfers are sent to mobile money accounts, especially in Africa and Asia.

Airtime top up

With airtime top-up, you can add credit to someone’s phone for calls, texts, data, and other services. 

This can be done through Remitly’s select airtime partners, and is a convenient way to help your loved ones stay connected.

Remitly customer service

Remitly makes it easy to get help, whether it be via:

1. Help centre (FAQs and documentation)
2. Live chat (24/7, English, French and Spanish)
3. Phone (24/7, English and Spanish)

You simply go to the bottom of any page on their website, and click ‘Contact us’.

Here’s what their contact page looks like:

Although that part might be easy, actually getting the help is where some people get stuck.

There’s a lot of negative reviews about their phone support.

Most notably the hold times, calls dropping, and unhelpful advisors.

Not everyone has a bad experience though.

My favourite thing is the 24/7 coverage.

No matter what time of day it is, if you’ve got an issue you can give them a call.

How does Remitly work?

1. Check Remitly’s rates compared to competitors

You can see the amount and rate you’ll receive, transfer fees, and speed. 

This way, you can get a clear picture of how they compare and decide if Remitly is the right option for you.

2. Sign up for an account with Remitly

To use Remitly for your international transfer, you’ll need to sign up. 

Create your login details and click ‘Join now’. 

Then fill out the details about yourself and your requirements.

Keep in mind that additional checks may be required if your details can’t be verified.

This might include sending them some documents to prove that it’s really you.

This could be a drivers’ licence or passport, and a utility bill or bank statement.

3. Initiate a transfer

Once your account is open, you can log in to the platform or mobile app and make your transfer.

First, choose your destination country.

Then enter in your amount, check the rate and fees, delivery method and transfer speed, and click continue.

4. Add your recipient details

The next step is to add the details of where you want your converted funds transferred to.

The information you’ll need will depend on the receiving country and delivery method.

You’ll nearly always need the recipient’s name and address.

If you choose the bank transfer method, here’s an idea of what you might need:

• Europe – IBAN
• USA – account number and routing number
• Most African & Asian countries – account number and BIC

Other countries might require different details.

If you choose mobile money or airtime top up, you will need the recipient’s phone number.

For cash delivery, you’ll need the recipient’s name, and they will need to bring some ID to the pickup location.

If in doubt, call customer support. They’ll know what you need.

5. Confirm and pay for your transfer

Once you’ve checked the details and confirmed the transfer, it’s time to pay for it using your preferred method.

If you opted for the debit card option, they’ll take the money from your card and make the transfer instantly.

If you went for the slightly cheaper bank transfer, you must now transfer your funds to the details provided by Remitly.

You can do this via online banking, mobile banking, telephone banking or go into a branch.

When Remitly receives your money, they’ll then make the transfer.

You can then track your transfer via the platform or app.

My verdict: Is Remitly for you?

Remitly helps millions of people send money home, with a secure platform and user-friendly mobile app. 

They offer various payout options, and are a very safe company.

While they’re reliable for most transfers, sometimes an alternative provider may be better. 

Here are some examples of when Remitly is a good fit and when it may not be, with possible alternatives to consider.

When Remitly works

Here’s when using Remitly is a good idea:

• You’re sending money to an exotic country
• You require cash pickup, mobile money or airtime top up
• You’re transferring under £25,000 (or equivalent)

An exotic country is a country that isn’t a 1st world country, or has a thinly traded currency.

When Remitly doesn’t work

Here’s when Remitly isn’t for you:

• You’re transferring over £25,000 (or equivalent)
• You want the best possible exchange rate
• You’re transferring money through a common corridor

A common corridor is a transfer route from one common country to another.

For example, the UK to France, the USA to the UK, or the UK to Australia.

Remitly typically only supports transferring from a common country to an exotic country.

Simply check on their website to see if they provide the route you want.

Remitly lets you send a payment overseas from the US in about 100 currencies, on popular remittance routes globally. You’ll set up your transfer online or in an app, and then you can choose to have your money deposited in the recipient’s bank or mobile money account, collected in cash or in some cases delivered to their door. Fees, features and services vary depending on the destination country.

Read on for our Remitly review looking at the full picture including fees, whether it’s safe to use, how fast it is, how to get set up, and more

Remitly is good for

• Personal payments on common remittance routes
• Great range of pay out options including cash collection
• Choose faster Express payments or cheaper Economy transfers
• Multiple language support including Spanish

Remitly: Key points

Key features:

• International transfers in 100+ currencies
• Pay out options include bank and mobile wallet deposit, cash collection and cash home delivery
• Intended for personal transfers only
• Fully digital service, online and in-app
• Fee schedule varies based on the value of payment, pay in and pay out method, as well as destination

Key stats:

Established in: 2011

Send money to: 100+ currencies

Payout options: 4 available: bank and mobile wallet deposit, cash collection and cash home delivery

Remitly pros	Remitly cons
✅ Safe and established provider ✅ Good range of supported countries and currencies ✅Lots of pay out options available ✅ Pick Express or Economy services depending on whether speed or price is more important	❌ Exchange rates include a markup ❌ Fees and services vary by transfer type ❌Not all delivery methods are available in all countries

Overall:

Remitly offers personal transfers in 100+ currencies from the US. You can send money on many common remittance routes, for cash collection or delivery, or to be deposited to a bank or mobile money account. The range of services and how they’re priced does vary quite significantly between countries, so you’ll need to check what pay out options are available for your specific destination, as well as the fees and rates.

How much can I save with Remitly?

Remitly’s fees vary quite a bit depending on where you’re sending money to, how you want to pay, and how you want the money to be received in the end. It’s a smart idea to compare a few providers against your bank to find the best value for your payment – but a specialist service can often offer a cheaper transfer with better exchange rates. Here’s a quick comparison of Remitly against Chase bank, on a payment sent to a bank account. We’ve looked at several different transfer values to illustrate:

Transfer details	With Remitly your recipient gets	With Chase your recipient gets	Result
Sending 1,000 USD to EUR	913.50 EUR	888.62 EUR	Your recipient could get 24.88 EUR extra with Remitly
Sending 5,000 USD to EUR	4,567.48 EUR	4,488.05 EUR	Your recipient could get 79.43 EUR extra with Remitly
Sending 10,000 USD to EUR	9,135.96 EUR	8,977.07 EUR	Your recipient could get 158.89 EUR extra with Remitly

What is Remitly?

Remitly has been around since 2011, and offers digital remittance services you can have paid out to bank accounts, mobile money accounts, collected in cash or even delivered to your recipient’s door. Remitly is only for personal payments and focuses services on people working overseas and sending money home.

Remitly international money transfers

You can send a personal payment with Remitly from the US in 100+ currencies. That’s handy for people sending money to loved ones. Because Remitly also offers deposits to mobile money accounts or for cash collection, it’s easy to get money to someone who doesn’t have easy access to a bank account, too. Just send for cash collection and they’ll be able to collect their money at a nearby agent when they’re ready.

Great for: Personal payments on popular remittance routes, particularly for cash collection and mobile wallet deposit.

How does Remitly work?

You’ll need to register an account to send your first Remitly payment. However, this is very easy to do with just your personal information and SSN or ITIN. Once you’ve set up your account you can send a payment under 3,000 USD, before you need to provide further documents for verification.

To send a payment you’ll just log in online or in the Remitly app, select the country you’re sending to and use the dropdown boxes to navigate your send options in the destination. Different services and fee structures are available in different countries

Is Remitly safe to send money?

Remitly is a registered Money Services Business with the US Department of Treasury.

That means that Remitly is safe as long as you use it as the service is intended. You should only send money to people you know and trust.

Learn more: Is Remitly safe?

How safe are my Remitly login details?

Very safe. Remitly offer extensive security measures through the account verification process including:

• Two factor authentication (2FA) feature to make accessing your account more secure
• Phone verification sent to your phone when you sign in to Remitly with your password
• Internet security – Secure Socket Layer (SSL) with 256-bit encryption, which is the industry standard

In the European Union and the UK, 3D Secure (3DS) is a security feature used on card payments. It helps reduce the risk of someone else using your card without you knowing about it.

Remitly pricing

You’ll often find you can make a couple of different types of Remitly transfer: Express or Economy.

Economy Service – Offers a longer delivery time frame (3 to 5 business days) at lower transfer fees.

Express Service – Offers a much shorter delivery time frame (minutes) at higher transfer fees.

The amount depends on where you’re from and where you’re sending money to. Exchange rates are shown once you have selected which country and how much you wish to send.

Remitly often offer new customers or first time users promotional rates and fees and if you are an existing customer, available promotions will appear on the green banner at the top of the page.

How long does Remitly transfer take?

You can make money transfers overseas within minutes when paying with a debit card and selecting the Express option.

Transfers using the Economy option and paying by your bank account will take 3 – 5 business days.

How to use Remitly

Here’s how to get started quickly with Remitly:

1. Download Remitly app from Apple App store or Google Play store.
2. Login and create an account. Provide your full name, date of birth, email address, last 4 digits of your SS number or ITIN.
3. Choose the country and how much currency you want to send. Select Express or Economy speed.
4. Provide details of where the international money transfer is going including full name, bank account details or mobile phone number or cash up location or home delivery.
5. Pay Remitly.

Remitly will advise you where your money is and when it arrives via text message

The details you’ll need when you’re sending money

If you’re sending money to a recipient’s bank account you’ll need their full banking information including account number of IBAN, bank name and address, and the SWIFT code. For cash collection transfers you usually just need the recipient’s name as shown on their government issued ID document.

Remitly payment methods

You can pay for your transfer from the US by credit or debit card, or with a bank transfer (ACH).

Payout methods

You can choose different pay out options depending on where you’re sending money to, including:

• Bank account deposit
• Mobile money account deposit
• Cash collection
• Cash home delivery

How to track Remitly transfer

Track your Remitly transfer online or in the Remitly app, once the money is on the way.

How to create an account

You can open a Remitly Tier 1 account instantly with the following information:

• Your full name
• Your residential address
• Your date of birth
• The last 4 digits of your SSN

You can then start to send a payment with no need to upload any documents. However, to increase your payment limits and reach a Tier 2 or 3 account you have to provide documents and more information about yourself. More on what documents are acceptable, and how Remitly’s account tier limits work coming up later

What documents you’ll need

To increase your account limits you have to provide some paperwork, usually including proof of ID and address.

ID documents can include:

• Passport
• U.S. Military ID
• Permanent resident card (Green Card)
• Employment authorization card
• National ID issued by a foreign government

Proof of your address may be:

• A utility bill in your name
• A lease agreement
• A pay stub
• A bank or card statement

How long does Remitly verification take?

You’ll usually be able to send a payment pretty much instantly with a Tier 1 Remitly account, just by entering your name, address and the last few digits of your SSN or ITIN. If you’re upgrading to a higher tier account and need to have your documents checked, you may have to wait a day or two.

Do I need a bank account for Remitly?

You’ll need a bank account, credit or debit card to pay for your Remitly transfer. However, you can send money to someone who does not have a bank account by selecting cash collection as the delivery option.

Helpful hints

• Make sure your ID is valid and not expired
• Make sure it shows your full name, your current address and date of birth

Ways to receive your money

Different services are available in different destination countries. You may be able to choose the following pay out options:

• Bank account deposit
• Mobile money account deposit
• Cash collection
• Cash home delivery

Remitly limits – How to increase your limit

Like many money transfer service companies, Remitly has limits on how much money you can transfer. To increase your limit you need to provide more identification. When you sign up you start on Tier 1.

	Tier 1	Tier 2	Tier 3
24 hours	$2,999	$6,000	$10,000
30 days	$10,000	$20,000	$30,000
180 days	$18,000	$36,000	$60,000

To get verified at Tier 1 you’ll need:

• Your full name
• Your residential address
• Your date of birth
• The last 4 digits of your SSN

For Tier 2 and 3 you’ll need the above, plus:

• Your full SSN/ITIN
• Your government issued photo ID
• Additional information about your use of Remitly’s service including details of your source of funds

Which countries can I send US dollars to from the United States?

Remitly accessibility

Remitly is available online and in an app, and you can chat to a team member when you have a problem. Chat is 24/7 and in English, French and Spanish. Phone services are also available 24/7 in English and Spanish. The app is available in an impressive list of languages for ease of use globally.

Remitly is mobile optimized

Remitly is extremely easy to use on your mobile phone as it was designed specially for mobile use. It’s mobile friendly for both the person sending the money and the person receiving the money. Their website and mobile app allows you to do the whole process including signing up, providing id, sending money overseas and tracking the delivery.

Remitly will send text message alerts so you can see where your money is during the transfer.

Supported currencies

You can send money in 100+ currencies from the US, with Remitly.

Money transfers can be sent from these countries:

United States, Australia, Austria, Belgium, Canada, Cyprus, Czech Republic, Denmark, Finland, France, Germany, Greece, Ireland, Italy, Latvia, Liechtenstein, Lithuania, Malta, Netherlands, New Zealand, Norway, Poland, Portugal, Romania, Singapore, Slovakia, Spain, Sweden, United Arab Emirates, United Kingdom

Money transfers can be received in these countries:

Algeria, Andorra, Anguilla, Antigua and Barbuda, Armenia, Australia, Austria, Barbados, Belgium, Belize, Benin, Bhutan, Bosnia And Herzegovina, Botswana, Brazil, Brunei Darussalam, Burundi, Cabo Verde, Cambodia, Canada, Cayman Islands, Chile, China, Colombia, Congo Brazzaville, Costa Rica, Croatia, Cyprus, Czech Republic, Côte d’Ivoire, DR Congo, Denmark, Dominican Republic, Ecuador, Egypt, Equatorial Guinea, Estonia, Finland, France, Georgia, Ghana, Gibraltar, Greece, Guatemala, Guinea, Guyana, Hong Kong, Hungary, India, Ireland, Israel, Italy, Jamaica, Japan, Jordan, Kenya, Kuwait, Lesotho, Malawi, Malta, Moldova, Mongolia, Montenegro, Mozambique, Nicaragua, Nigeria, Norway, Pakistan, Philippines, Poland, Portugal, Puerto Rico, Qatar, Romania, Rwanda, Samoa, San Marino, Saudi Arabia, Senegal, Seychelles, Slovakia, Solomon Islands, South Africa, Spain, Sri Lanka, Suriname, Sweden, Switzerland, Tajikistan, Tanzania, Timor Leste, Trinidad and Tobago, Turkmenistan, Uganda, United Kingdom, United States, Uruguay, Uzbekistan, Vanuatu, Zimbabwe.

Remitly reviews

Remitly scores 4.1 out of 5 stars on TrustPilot, which aggregates live customer review data.

Over 80% of customers give a 5 star review, with customers commonly commenting on the reliability and ease of use of the service. Where customers have been less impressed with the service, the issue is commonly around security checks and verifications being required. These can slow down a payment or even mean that Remitly can not process the transfer requested.

Is Remitly trusted?

Yes. Remitly has a loyal customer base, and is a trustworthy service. In fact, Remitly offers a money-back guarantee, so if you’re not completely happy with their service, they will refund you.

Remitly Customer Care Support

Support channel	Remitly contact information
Phone	Phone numbers vary depending on where you’re calling from, and are available on the Remitly app or desktop site
Chat	By logging into your Remitly app or visiting the desktop site

Remitly alternatives

Not sure if Remitly is right for you? Compare their coverage, costs and services with these Remitly alternatives:

Remitly vs Wise – Wise uses the mid-market exchange rate and splits out the costs of your payment overseas, which can make it easier to check and compare the costs

Remitly vs WorldRemit – WorldRemit could be a good choice if you want to send a smaller value payment or if you want your money to be collected in cash, deposited to a mobile money account, or used as airtime topup

Remitly vs Xe – Xe Money Transfer can help you send payments more or less anywhere in the world

Remitly vs TorFX – TorFX is UK based and offers international transfers and currency risk management services.

Remitly Passbook account

Passbook was an account that doesn’t require a social security number (SSN) that an immigrant living in the United States may find difficult to get.

Unfortunately on May 1, 2023 Remitly has announced that they’ll be stopping this service and won’t be accepting new accounts.

Conclusion: Is Remitly a good way to transfer money?

Remitly is a popular digital service for sending payments home to loved ones, which can be deposited in bank and mobile money accounts, or collected as cash at a Remitly agent. The range of options available from Remitly varies based on the country you’re sending to, so you’ll need to check out the pay out features and fees for your specific transfer. Often you can pick a faster Express payment or a cheaper Economy payment, depending on your preference.

Use this guide to decide if Remitly is right for you, and don’t forget to compare some Remitly alternatives to see what else is on offer.

Remitly international money transfer FAQs

Is it safe to transfer money with Remitly?

It’s safe to transfer money to people you know and trust with Remitly. They’re a reliable provider, but the service is intended for personal payments to friends and family only.

How does Remitly apply exchange rates?

Remitly adds a markup to the mid-market exchange rate to calculate the rate used to convert customer payments for deposit. Compare the Remitly’s rate for your transfer with the rates available from a few other providers to check if it is the best value for you.

Does Remitly have a mobile app?

Yes. Remitly has well rated apps on both Apple and Android phones.

Is Remitly legit?

Remitly is legit, properly licensed and regulated, and a safe way to send payments within their specific guidelines.

Remitly review

Sending money online can be worrisome to many people. Is it safe to send? Am I paying too much to transfer money online?

Remitly is an online money transfer service that allows customers in the United States, Canada, Australia, the United Kingdom, and the Eurozone to send money to more than 40 countries internationally. The service makes transferring money quicker, easier, and less expensive than other companies. Send money using your smartphone, tablet, or online through the Remitly online transfer service.

Payment Methods Available with Remitly

When you send money online with Remitly, you can fund the transfer using:⬤Bank transfer⬤Credit Card⬤Debit Card

Individual users can send up to $999 per day, and Remitly doesn’t allow you to set up recurring transactions.

If you choose to submit additional information to Remitly, such as the reason for the transfer or proof of how you are funding the transfer, you can send more money.

For example, providing Remitly with the reason you’re sending the money and the source of the funds, you can send up to $6,000 per day.

The person receiving the money has a few options for getting their funds, including deposit into a bank account, deposit into a digital wallet, or picking up cash at a nearby partner money transfer facility. And if you need to send money somewhere immediately, you can choose the “Express” option for an instant transfer of funds.

How much I can transfer with Remitly.

With Remitly you need to pass different tiers of verification to be able to send higher amounts of money. To increase your sending limits you will need to provide your personal information and upload certain documents.

Tier 1. You can send up to $999 daily, $2,999 weekly, $10,000 monthly and $18,000 every six months

Tier 2. You can send up to $6,000 daily, $20,000 monthly and $36,000 every six months

Tier 3. You can send up to $9,999 daily, $30,000 monthly and $60,000 every six months

How long does a Transfer with Remitly take ?

Remitly offers two ways to send – express or economy

• Express may cost extra but it can deliver your money to your recipient within 4 banking hours
• Economy generally takes three to five business days to arrive

Remitly Transfer Fees

The fees Remitly charges to transfer money depend on several different factors, including:⬤How much money you’re sending⬤Where you’re sending money to⬤How you are paying for your transfer⬤The currency you’re converting your money to⬤The way you choose to transfer the money

Remitly allows users to send money either Economy or Express. Economy often has lower fees – including no fees for your first transfer – but takes longer to reach the recipient.

If you’re sending Economy from Canada to the Philippines, using local currency, the transfer will take up to three days. Remitly charges you $2.99 if you send less than $500, but there is no charge for sending more than $500.

If you need the money to get from Canada to the Philippines immediately, the Express option costs $6.99 regardless of how much you’re sending.

Express transfers happen immediately, so they’re great for people who need to send money for emergencies. However, they do carry additional fees that can add up the more often you send money with this method.

There also may be situations where Remitly will charge you additional fees, such as when you send money to a recipient in a foreign country but they will receive that money in United States dollars.

Users in Australia, Canada, and the United States will also be charged a processing fee if they elect to fund the transfer with a credit card. You also may be charged additional fees directly by your credit card company, but Remitly has no control over these fees. If you’re using a bank account to transfer money, they may also charge you additional fees. These fees are dependent on your bank’s policy and are out of Remitly’s control.

Pros and Cons of using Remitly

Pros

Easy to use with user-friendly online applications and mobile app.

Those who receive money can collect their money at any Remitly partner bank, including nearly all big banking networks in the countries where Remitly is available.

Multiple payout options, including bank transfer, mobile wallet, home delivery, and pickup at over 140,000 locations.

Currency exchange rate locks in when you start the transfer, protecting you from fluctuations before the money gets to the recipient.

Text message alerts for you and the recipient so you both can track when money has been sent and received.

If you are unhappy with the service you receive from Remitly, you get a refund on all the fees you paid.

Its website is secure, meaning you can be confident you’re transferring money securely.

Cons

Often not the cheapest money transfer option, with exchange rates that are lower than other services.

Fixed fees can get expensive if you’re transferring smaller amounts of money.

You may be limited in how you can send money and how the recipient gets the money depending on where you’re sending money.

Daily and monthly limits on how much you can send without going through extra verification steps.

Higher fees for express transfers. You need to pay much more in fees if you want to fund your transfer with debit or credit card.

Remitly Exchange Rates

Remitly’s exchange rates are competitive with other online money transfer services, typically coming in between 0.5% and 2% worse than general market rates.

The company not only makes money with these exchange rates that are worse than the market, as well as additional fees charged by Remitly.

For example, if you want to send $500 from Canada to the Philippines, you will pay between $2.50 and $10 more to send that money with Remitly over base exchange rates.

The company also charges you fees for sending money instantly with a credit or debit card, as well as fees for transferring money to the Philippines in U.S dollars instead of the native currency.

How Remitly makes money?

Remitly makes its money by charging customers to send money from one country to another. These fees are what you pay based on where you’re sending money, how much you’re sending, how fast you want the money to get there, and how you’re paying to send the money.

The fees Remitly charges are higher than some of their competitors, so shop around before deciding what service to use to send money overseas.

Platforms Where Remitly Is Available

Remitly is available for use on your computer, tablet or mobile device through its web-based platform. Additionally, the Remitly app is available for Android and iPhone devices.

All of Remitly’s platforms come highly rated by customers for their ease of use and user-friendliness.

Is Remitly Secure?

Remitly is considered a very secure and trustworthy online money transfer provider.

The company is a registered Money Services Business with the United States Department of the Treasury and is a licensed money transmitter. Remitly also is authorized to operate in all Canadian provinces except Quebec (although this is coming soon), as well as the United Kingdom and Ireland.

Remitly offers a variety of safeguards and security measures to protect your information and your money, including:

● All Remitly accounts are verified using a variety of different measures, helping keep them safe and secure while also preventing fraud.
● In order to send money through Remitly, users must submit certain documents to prove their identity.
● Remitly uses manual and automated fraud detection techniques and risk management procedures, helping them detect and eliminate suspicious account activity.
● All transactions are protected by strong online security measures, including 256-bit SSL encryption with a 2048-bit signature.

Remitly is financially strong, and it has the backing of a variety of investors including TomorrowVentures, Jeff Bezos, Trilogy Equity Partnership, QED, and DJF. They have raised more than $100 million in venture capital, and completed a second round of fundraising with investors such as Barclays, Bridge Bank, Goldman Sachs, Prudential Financial, and Top Tier Capital Partners.

• Summary
• Enjoy quick, easy money transfers with competitive exchange rates and straightforward fees.
• Good for giving you a choice between speed and fees with its two-speed system.
• Not so great for large transfers due to its low maximum limits.
• Pros
• Transfer to 50+ countries around the world
• Express option so your money arrives in minutes
• Delivery promise where fees are refunded if it doesn’t arrive on time
• IN THIS GUIDE
• Review
• Details
  • Features
• Frequently asked questions
• Your reviews
• Ask a question
• Details
• Features
• Our Verdict
• 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.
• Why should I consider Remitly?
• Large network. Remitly is an online international money transfer service that allows people in countries like 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 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 selected 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 to provide ID to increase daily, monthly and 180-day sending limits.
• No hedging options. Remitly doesn’t have recurring transfers, limit orders or 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 the US to the Philippines
• 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 the US to the Philippines when we checked on February 15, 2022.
• Economy: no fee
• Paid for with a bank account deposit
• Arrives in three business days
• Express: $3.99 when sending less than $500
• Paid for with a debit card
• Arrives almost immediately
• Compare money transfer fees now
• How are Remitly’s exchange rates?
• Remitly updates its exchange rates daily to align with exchange rates on global markets, loving in the exchange rate you see at the beginning of your transactions.
• 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.
• Check if there are any Remitly promo codes available
• 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.
• 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.
• 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 other similar options.
• 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.
• Step 1: Create a free account
• Step 2: Select country
• Step 3: Enter recipient’s information
• Step 4: Choose your payment method
• Step 5: Confirm your transaction
• Step 6: Check your mobile phone
• 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 take
• 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.
• Please see the table below for what additional information is required to be approved for the higher tiers:
• Is Remitly safe to use?
• Remitly safeguards your money in a variety of ways, including:
• 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.
• How does Remitly compare to other money transfer services?
• If you want to see how Remitly compares to the exchange rates and fees offered by other money transfer services, enter the details of your transaction into the table below.
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• Which is better, Remitly or Xoom?
• How does Remitly make money?
• Is Remitly a good app to send money?
• Who is Remitly owned by?
• Is Remitly a US company?
• Which countries use Remitly?
• Is Remitly a bank?
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• How do I track my Remitly transfer?
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