Remitly Review- Transfers Money Faster and Cheaper 2023

4 stars based on 38244 reviews

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USD MXN $ 18.72
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USD PKR PKRs 262.96

Remitly Review by Exchange Rate IQ

Overall rating
8 /10

How to send money abroad using Remitly? Is it the best options available? How much time it will take to reach the recipient? Is it safe to transfer money online? All these thoughts hit your mind when you start using the money remittance services. But now you need not to worry because the experts of ERIQ provide an in-depth and unbiased review of Remitly by performing all the research. Remitly is a digital alternative to the traditional money remittance services which is available for the people living in the UK, the US, Canada and the Eurozone.

Remitly is an US Headquartered digital money transfer service. Customers can access Remitly.com on any device connected to the Internet. Remitly’s proprietary global transfer network includes what is described as an “easy-to-use mobile app”, which makes the process of sending money faster, easier, more transparent and less costly. This is accomplished by eliminating the forms, agents, codes, extra time and fees typical of the traditional, century-old money transfer process.

This app enables people in the United States, Canada & UK to send money to other countries instantly using the company’s express service or up to three days using the economy service

It is a fast, easy and affordable method to send money online.

Send money with Remitly because-

  • It is a customer-focused payments company
  • User-friendly
  • Safe and Secure
  • Reasonable fees
  • Low Exchange Rate Margins
  • On Time delivery

Review of Remitly :

Remitly is a digital money transfer service enabling international money transfers from the U.S.A., Canada & the United Kingdom to a select number of countries in South East Asia, Mexico and South America.

It is a online only money transfer service that help the users send money from Mobile apps, tablets or mobile. Considering Remitly is providing digital services for sending money they offer a good alternate to the banks & remittance agents.

Maximum transfer limit: $20,000

Minimum transfer limit: $0

Remitly offers a very user friendly online money transfer service that fast, secure and relatively cheaper than other money transfer companies.

According to Remitly over 100,000 NRIs and more than 100,000 Pinoys have sent money through remitly. As per recent reports in 2016 Remitly have processed remittance transactions of over $ 2 billion. Matt / Matthew Oppenheimer is the co-founder and CEO. Remitly has raised over $100 million in equity funding from 18+ investors till 2016. For more details about Remitly funding & investment you can check Crunchbase

Pricing : How much does Remitly cost?

8 /10

One of the important factor for us at Exchange Rate IQ while evaluating any money transfer company for our users of the cost of money transfer. The lower the cost of the transfer, the better the value a user gets. You can read more about cost of money transfer here:

The cost associated to transfer money through Remitly can be divided in 2 pieces, a flat fee and an exchange rate margin.

Remitly Transfer Fees:

Remitly charges a flat fees for sending money using its platform, the higher the amount your are sending the less the fees. In fact, above a certain limit the fees is reduced to zero.

Remitly Exchange Rate:

The second piece of the cost is the exchange rate margin. This is basically the currency conversion rate that Remitly is offering compared to the actual mid market or the interbank rate. Remitly doesn’t match the interbank rates but the margins are usually very low. Less than 1% in most cases, as analyzed by our team over a period of 2 months.

For First time users though, the Exchange Rates are usually better than a repeat user. This is one of the key strategy for Remitly and it attracts a lot of new users to Remitly.

Remitly offers 2 options to transfer money

  1. Economy – Economy Money Transfers take more time to reach the destination country but offer a higher exchange rate and lower fees.
  2. Express – When sending money though express route the receiver get the money faster but since the exchange rate offered is marginally less than the other option. Also, if the transaction is done through a credit or debit card the fees could be substantially higher (1-3%) than the flat rate fee.

Transparency: Does Remitly have any hidden fees?

9 /10

Second most important factor for Exchange Rate IQ users while evaluating any money transfer company tends to be transparency being offers by the remittance company. We hate hidden fees and charges so does our users.

Remitly fairs very well on being transparent about its fees and charges. Even before logging into the website they clearly show the fees that would be charged as well as the exchange rates being offered. All exchange rates are Locked in at the time of transaction hence a user do not have to worry about any fluctuation in currency rates after a transaction is complete.

Transfer Speed: How long does it take to send money through Remitly?

7/10

Remitly offers 2 different options for Transfer time. Speed could vary based on the option you choose as well as the Pay in method i.e. bank vs a credit or debit card

  • Economy – Economy Money Transfers usually take 3-5 working days to. These transfers are initiated using a bank account.
  • Express – Express transfers when done through a debit or a credit card could be completed in minutes.

Transfer Times from USA, UK & Canada to Mexico, Philippines etc. is usually pretty quick like an instant transfer with the Express route. Although the express route can attract more fee and always offer a lower exchange rate than economy. For the same corridors with the economy option the transfer would be completed in 3 days with a better rate and lower fees.

For money transfer from USA, UK & Canada to India if you choose economy, the fund transfer in bank accounts is completed between three to five working days. This usually depends on the receiving bank in India as well. For Express transfers from USA to India, a instant deposit is made to Axis & HDFC bank but for other banks in India the express transfer could take upto 4 hours.

Coverage: How many Countries & Currencies does Remitly support?

6/10

Remitly is currently available in 3 countries to send money from, these are United states of America, Canada & United Kingdom. Remitly has recently started its services in United Kingdom.

From USA it currently supports 8 Countries in Central & South America and 3 in Asia.

Receiving countries in Central & South America are Colombia, Ecuador, El Salvador, Guatmala, Honduras, Mexico, Nicaragua & Peru. You can send money to India, Philippines & China from USA as well.

From UK & Canada on the other hand you can only send the money to India, Philippines & China.

Remitly has also partnered with local banks & Cash Pickup partners in all the receiving countries to help users collect the money conveniently.

Remitly Partners in Philippines include over 10,000 cash Pickup locations and major banks. For India users can transfer funds to 100+ banks with instant deposits in HDFC & Axis bank and within 4 banking hours to ICICI, SBI and Citibank.

In Guatemala, El Salvador, Honduras, Nicaragua, Colombia, Ecuador and Peru, money can be deposited in major banks or can be picked up at thousands of local network partners

Remitly’s Mexico network includes pick up locations like Bancomer, Elektra, BanCoppel, Bansefi and all major banks in Mexico.

Remitly Promo Codes & Offers

United States to India
New customers - Get more exchange rate up to $2999
United States to Philippines
Get ₱55.00 per dollar on your first transaction and first transfer is free.
United States to Mexico
New customers - Get a rate of 21 Pesos per dollar on your first transfer
United States to Guatemala
New customers - Get more exchange rate on your first transfer
United States to Colombia
New customers - Get more exchange rate on your first transaction
United Kingdom to India
Get first time offer
United Kingdom to Philippines
New customer offer : Get better exchange rate with zero fees
Canada to Philippines
New customer offer : Get more exchange rate
Canada to India
Offers for new customers on first transaction

Remitly Transfer Process

How to Send Money through Remitly?

  1. Create your free account on Remitly website

  2. Choose the Country from where you want to send money

  3. Choose the receiving country along

  4. Select the transfer option from Express Vs Economy

  5. Select the Pay-In Method – Bank Account, credit or Debit card

  6. Enter the Amount & Fund your transfer

  7. Review and Confirm the Transfer

  8. Once the process is completed, Remitly will confirm a date and time by when the money would be deposited overseas.

Send money with Remitly

Remitly send money to Pakistan

Remitly is one of the largest money transfer companies in the world, which offer money transfer services from 16 countries to over 50 countries across the globe. Here you can send money in express in economic form. The express transfers will be delivered by the company within 24 hours which can be paid by debit and credit card while economic transfers are slow and have the lowest transfer fee. These transfers can be completed through a bank account.

Remitly send money to Columbia

Remitly charges nil to provide money transfer in an economic way to Columbia. However, if you transfer money in express form, the company will charge $3 or a similar amount in other currencies. The company has 1600 cash pickup locations across the country and is in partnership with Bancolombia, Exito, BBVA, Carulla, BBVA Bancomer etc. At these places, the company provides bank transfers as well as cash pickup services both to its users, so they can make the most use of Remitly.

Remitly send money to India from UK

Remitly helps you to transfer money to more than 140 banks and their branches in India from the UK. The company offers competitive exchange rates and lower transfer fees to its clients so that they can make the transfers of their hard-earned money easily. The company delivers money on time as express delivery within 24 hours and economy delivery within 3-5 days.

User experience of Remitly

9/10

Remitly offers a very intuitive user experience on the website as well as the mobile apps. The overall process from registration, transfer and tracking is really seamless and easy to understand. A good UI & UX flow helps. A detailed FAQ section on the website answers most of the relevant questions. A chat & phone support is available for any other queries.

Based on the total reviews on Trust Pilot the rating is 8.8 or good. Most of the users appreciate the no nonsense approach to cheap and quick money transfer

Security : Is Remitly Safe?

10/10

Remitly clearly states that the user safety & security is their absolute priority. While we have seen reviews of the users complaining about the transfer times we never came across a negative review about the security of Remitly.

  • Remitly is registered with the US Department of Treasury and licensed in all 50 states of USA as an authorized money transfer company.
  • In Canada, Remitly is licensed and registered with FINTRAC (Financial Transactions and Reports Analysis Centre of Canada).
  • Remitly U.K., Ltd. is regulated by the Financial Conduct Authority under the Payment Services Regulations 2009 for the provision of payment services. It is also registered by the HM Revenue & Customs as a money transfer service.
  • For Website/App security Remitly uses Secure Socket Layer (SSL) with 256-bit encryption, the industry-standard in secure server protection. Also the user logs in using a secure server connection (https://). The user accounts are protected by unique passwords.

Remitly also offer 100% Satisfaction Guarantee. If you are not satisfied with the services you can get your money back with charges & fees prior to the completion of the transaction.

Based on Exchange Rate IQ analysis and reviews we feel that Remitly is totally secure and safe to perform you internation money transfer.

Remitly Exchange Rate

Transfer Type And Modes

Pay In Options

Bank
Credit Card
Debit Card

Pay Out Options

Bank

Service Mode

 Online

Exchange Rate Type

Fixed

Remitly FAQ's

How much money can be send through Remitly?

Remitly has set different sending limits for different tier users.
Tier I users can send up to $999 daily, $2,999 weekly, $6,000 monthly and $18,000 every six months.

Tier II users can send up to $6,000 weekly, $20,000 monthly, and $36,000 every six months.

Tier III users can send up to $20,000 weekly, $30,000 monthly, and $60,000 every six months.

You can also customize your sending limits depending on your needs.

Discuss this question

Where do I get a Remitly account?

You will have to create an account on the Remitly website. Key in all the correct details in your Identification document and have the account verified. After the verification, you can log in and make the transfers. Account creation is free, so you do not have to worry about any extra registration fee.

Discuss this question

How can I increase my sending limit?

To increase your sending limit, you need to sign in with Remitly and visit Remitly’s Manage Limits page. It will ask you few questions, which you need to answer and provide your ID as well as additional bank information. The company representatives will review your details and get back to you shortly.

Discuss this question

Can I trust Remitly tracking services?

Remitly tracking services are so reliable since you can be able to know the status of your transaction. In case you want to use the Remitly app, once you log in, you automatically see a list of your transfers and view their progress. However, if you want to access the service using a browser, you will need to sign in to your account and choose transfer history from the menu. You will be able to see a list of all transfers in-progress and delivered transfers.

Discuss this question

What information I need to provide to Remitly?

You need to provide yours as well as recipient’s bank details, address proof, driving license, passport and mail ID. This is to comply with the regulations of anti-money laundering.

Discuss this question

What if I enter the wrong details when sending money?

To avoid errors, make sure you confirm you have entered the correct details before sending. However, there is always room for mistakes so, If you have entered the wrong information and you have initiated the transaction, you can quickly contact the customer care support through chat or email them at [email protected]. Phone support is unavailable due to limited staffing. Do not panic since the customer support responds instantly.

Discuss this question

How long does it take to send money with Remitly?

The companies transfer speed depends on the option you choose to use while making payments such as a bank, a credit or debit card. However, the economy money transfer takes 3-5 day and must be initiated using a bank account. Additionally, Express money transfer takes a flash of a second and can be initiated using a debit or a credit card. Express money transfer can take a maximum of 4 hours depending on the receiving bank.

Before making the transfer, contact the receiver on the urgency of the money to avoid unnecessary delays.

Discuss this question

Is Remitly a legit way of sending money?

Remitly is 100% safe and offers Satisfaction Guarantee. That means, if you are not satisfied with the services. You can get your money back plus charges that you incurred in the whole money transfer process. Remitly is secure and safe to perform your international money transfer based on the Exchange Rate IQ analysis and the 5-star reviews. The company is in the UK is regulated by the Financial Conduct Authority under the Payment Services Regulations 2009 to provide payment services.

Discuss this question

Alternatives to Remitly

Remitly User Reviews and Ratings

reviews powered by trustpilot

Do not use if your loved ones rely on your financial support

Review published ago

Without any notice they close accounts without either being willing or able to provide a substantive reason for their actions. All you get is a referal to their terms and conditions. A very poor service, happy to take your money for many months then out of the blue plunges those who rely on receiving money in desperation. Their publications and statements about understanding the importance of being able to transfer money to family and friends and"unsung heros" looking after those less fortunate, shown to be nothing but empty marketing slogans. When asked to explain no answers and then they just cut you off and end the conversation. Do not rely on this company to make sure your loved ones receive the money they need and you worked hard for.

by Mel Jie

Do not use if your loved ones rely on your financial support

Review published ago

Without any notice they close accounts without either being willing or able to provide a substantive reason for their actions. All you get is a referal to their terms and conditions. A very poor service, happy to take your money for many months then out of the blue plunges those who rely on receiving money in desperation. Their publications and statements about understanding the importance of being able to transfer money to family and friends and"unsung heros" looking after those less fortunate, shown to be nothing but empty marketing slogans. When asked to explain no answers and then they just cut you off and end the conversation. Do not rely on this company to make sure your loved ones receive the money they need and you worked hard for.

by Mel Jie

Tengo ya dos años usando la app y hasta…

Review published ago

Tengo ya dos años usando la app y hasta el momento no eh tenido ningún inconveniente, en ocasiones es más barato pero en otras es justo el tipo de cambio, espero no tener malas experiencias en el futuro así como acabo de leer unas experiencias.

by Jesús Valencia Ponce

Tengo ya dos años usando la app y hasta…

Review published ago

Tengo ya dos años usando la app y hasta el momento no eh tenido ningún inconveniente, en ocasiones es más barato pero en otras es justo el tipo de cambio, espero no tener malas experiencias en el futuro así como acabo de leer unas experiencias.

by Jesús Valencia Ponce

Remitly is doing an excellent job

Review published ago

Remitly is doing an excellent job, I love it and in future I will refer to all my family members and friends. Remitly is quick and secure.

by Suhail Saeed

Remitly is doing an excellent job

Review published ago

Remitly is doing an excellent job, I love it and in future I will refer to all my family members and friends. Remitly is quick and secure.

by Suhail Saeed

Worst experience ever

Review published ago

One of the worst experience with Remitly. today is 3rd day of I used Remitly but my family did not received the amount. Worst money sender ever

by Junaidgulzar313

Worst experience ever

Review published ago

One of the worst experience with Remitly. today is 3rd day of I used Remitly but my family did not received the amount. Worst money sender ever

by Junaidgulzar313

Using it for 3 years..Never had any…

Review published ago

Using it for 3 years..Never had any issues. Money transfers within 2 hours.

by MaiR

Very Disappointing Experience!!

Review published ago

I am very disappointed in your company!! My initial attempt to send funds was stalled until I made contact with your support department. Who then grilled me about personal information to assure that I was not sending funds illegally. Then the person released the funds that were on hold, along with another amount of funds without my consent. I was later told that I had no recourse to correct the action . So my recipient received the funds twice because of your agents mistake! Not a very satisfactory situation for me..

by Sara

Perfect for me

Review published ago

Perfect for me, fast and good commision

by Oana Negoita

The money didn't get delivered

Review published ago

The money didn't get delivered, contacted customer service number of times, they promised to deliver money within 1 hr after first contact to customer services and now even after more than 24 hrs money has not been delivered, they promised to refund and nothing is been happening. Very disappointed and frustrated.

by ZAIGHAM MAHMOOD

Es práctica

Review published ago

Es práctica, fácil de usar, efectiva. Una muy buena opción a la hora de enviar dinero al exterior.

by Viviana Samboni

Très bien

Review published ago

Très bien. Pour le moment j ai aucun problème

by aziz bl

remitly is been so great to me since l…

Review published ago

remitly is been so great to me since l traveled to the USA abt 5 months back ,l have been successful send money back to Africa with no hustle. it's very quick ,safe and cheap. Thank you Remitly

by munyaradzi chipongo

Disappointment with money transfer

Review published ago

Disappointment with money transfer. The customer service is dumb and did not proceed as they promised

by Danish Bilal

Je suis très contente cet…

Review published ago

Je suis très contente cet article,rapide. Prix pas cher

by SUAI THAI

Una aplicación fácil de usar

Review published ago

Una aplicación fácil de usar, en el lugar que te encuentres desde tu celular, puedes enviar dinero a cualquier tarjeta de débito o cuenta en cualquier país, la transacción fue en minutos y el dinero estaba acreditado.

by Samael de Jesús Sandigo Manzan

Das klappt alles Reibungslos

Review published ago

Das klappt alles Reibungslos , wenn es ein Problem gibt,hat man zeitnah die Information.........ich sage Danke und weiter so

by Joerg Tobis

Fast safe and reliable

Review published ago

Fast safe and reliable

by Melo John

I transferred money to India 15 days…

Review published ago

I transferred money to India 15 days ago and money still hasn't been deposited to my bank account,

by Shivam Sethi

I have sent money and the person didn't…

Review published ago

I have sent money and the person didn't get still more than 2 days ,I have a receipt of delivery but other person didn't get the money .what should I do ? Helpline didn't do much and is still investigating such a drama happening

by Abid Shahzad

Trustable but can be better

Review published ago

I have been using this app for long time However it had its own pros and cons Pros Trustable Easy to navigate and transfer Cons Transfer rate is not that great seen better rates in other app

by Mithil Patel

Remitly is an easy app to use and user friendly my…

Review published ago

Remitly is an easy app to use and my partner receives money within minutes great gov once again thank you remitly

by Yahusha Son scatter pshycio Bu
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Compare Remitly With Other Money Transfer Companies

Remitly Company & Contact Info

Address:- Remitly, Inc. 1111 3rd Ave., Suite 2100 Seattle, WA 98101
Email:- [email protected]
Phone:- (888) 736-4859
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