Remitly Review- Transfers Money Faster and Cheaper 2019

5 stars based on 16100 reviews

Send Money To Rate
USD PHP ₱ 49.53
USD MXN $ 18.87
USD INR ₹ 68.41

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.

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.

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.

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. You can refer US license information here 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 We are also registered by the HM Revenue & Customs as a money 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

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

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

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

Alternatives to Remitly

Remitly User Reviews and Ratings

reviews powered by trustpilot

Excellant Customer service!!

Review published ago

Excellant Customer service!!

by Artiben

Excellant Customer service!!

Review published ago

Excellant Customer service!!

by Artiben

Muy buena pagina para envío

Review published ago

Muy buena pagina para envío

by Alejandro

Muy buena pagina para envío

Review published ago

Muy buena pagina para envío

by Alejandro

fast service with good exchange rates.

Review published ago

fast service with good exchange rates.

by Shiv

fast service with good exchange rates.

Review published ago

fast service with good exchange rates.

by Shiv

Very annoying/ I was successful in…

Review published ago

Very annoying/ I was successful in sending the first payment, BUT after that the 2nd and 3rd Payments have been blocked, for further checks. I do not understand why these checks cannot be carried out while getting the "Account SETUP". They keep asking details and then transferring the money. It has happened with my son's and husband's account too. I am NOW waiting for new checks to be carried out. I am adhering to Remitly's own Transfer LIMITS and yet this annoying checks. I wish I had chosen another site. If you are sending money urgently...then cross your fingers and be prepared to lose out.

by Vinod

Very annoying/ I was successful in…

Review published ago

Very annoying/ I was successful in sending the first payment, BUT after that the 2nd and 3rd Payments have been blocked, for further checks. I do not understand why these checks cannot be carried out while getting the "Account SETUP". They keep asking details and then transferring the money. It has happened with my son's and husband's account too. I am NOW waiting for new checks to be carried out. I am adhering to Remitly's own Transfer LIMITS and yet this annoying checks. I wish I had chosen another site. If you are sending money urgently...then cross your fingers and be prepared to lose out.

by Vinod

The only thing I experienced was it…

Review published ago

The only thing I experienced was it takes a while before my family received the money other than it is fine.

by VARGAS/EVELYN AUSTRIA

Solo que aora no me deja mandar dise…

Review published ago

Solo que aora no me deja mandar dise que es erorr

by Saul

Ok Thank you.

Review published ago

Ok no problem. Thank you.

by Joe

I have been using Western Union to send…

Review published ago

I have been using Western Union to send money to the Philippines for a long time and the prices kept going up and the exchange rate kept going down. I have tried Remitly twice now and it has been outstanding! The money gets to my recipients bank in the Philippines almost immediately and it is so much more economical to send. I will be using Remitly for now on! Thank you

by Thomas

JUST A SIMPLE SUGGESTION IF EVER!!!

Review published ago

Well,honestly the main reason why I prepare to used REMITLY is FREE!Nowadays life is kinda hard we must think first which is the best way to do to help our loveones sending money in time of their needs especially when it’s an emergency so,hopefully there’s much more better REMITLY can give nor offer to their customers in the near future thank you!

by AGNES

Me encanto el servicio el cual estoy…very nice 👍

Review published ago

Me encanto el servicio el cual estoy muy satisfecha, porque en cada momento ellos están al pendiente de todo movimiento y mandan mensajes constantemente para cualquier cosa, para mantenerlo informado a cada rato 👍👍👍👍👏👏👏👏

by Rosa

I love this app

Review published ago

I love this app, it’s very useful and easy to use

by kulveer

Fast and convinient

Review published ago

Fast and convinient

by glaiza

Very easy to use and safety app

Review published ago

Very easy to use and safety app

by Patricia

Out standing company to do business with

Review published ago

Out standing company to do business with

by roger

Very easy for me sending mony to my…

Review published ago

Very easy for me sending mony to my country thanks remitly

by Shahid Ullah

I had no problem with the transfer to…

Review published ago

I had no problem with the transfer to my daughter, it got there in time

by Rosa Coppola

Excellent I'm very satisfied

Review published ago

Excellent I'm very satisfied

by Lolita

tiene un servicio muy bueno y…

Review published ago

tiene un servicio muy bueno y excelente,llega a tiempo el dinero que mandas,

by JUAN

Excellent service

Review published ago

Excellent service

by Friend

Es una compañía muy confiable segura y…

Review published ago

Es una compañía muy confiable segura y la atención al cliente excelente el tiempo de espera es corto y la entrega rápida yo estoy contenta con ellos , y eso que soy muy exigente.siento que mi dinero está en buenas manos .

by Rosa V.
show more >>

Remitly Company & Contact Info

Address:- Remitly, Inc.,
1601 2nd Ave.,
8th Floor,Seattle,
WA 98101
USA
Email:- [email protected]
Phone:- (888) 736-4859
Social Links:- Facebook Twitter LinkedIn
Apps