Remitly Review- Transfers Money Faster and Cheaper 2021

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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

Send Money From Send Money To Rate
Australia Bangladesh ó 65.22
Australia India ₹ 57.16
Australia Mexico $ 15.05
Australia Nepal NP₨ 91
Australia Pakistan PKRs 132.68
Australia Philippines ₱ 40.77
Australia Sri Lanka ₨ 154.41
Canada Bangladesh ó 70.75
Canada India ₹ 61.76
Canada Mexico $ 16.45
Canada Nepal NP₨ 98.25
Canada Pakistan PKRs 143.64
Canada Philippines ₱ 41.75
Canada Sri Lanka ₨ 168.93
Denmark Bangladesh ó 13.17
Denmark India ₹ 11.74
Denmark Mexico $ 3.07
Denmark Nepal NP₨ 18.71
Denmark Pakistan PKRs 27.3
Denmark Philippines ₱ 8.1
Denmark Sri Lanka ₨ 31.3
Euro Countries Bangladesh ó 100.5
Euro Countries India ₹ 87.17
Euro Countries Mexico $ 23.91
Euro Countries Nepal NP₨ 137.22
Euro Countries Pakistan PKRs 201.54
Euro Countries Philippines ₱ 61.18
Euro Countries Sri Lanka ₨ 231.64
Norway Bangladesh ó 10.1
Norway India ₹ 9.21
Norway Mexico $ 2.36
Norway Nepal NP₨ 14.15
Norway Pakistan PKRs 20.83
Norway Philippines ₱ 6.29
Norway Sri Lanka ₨ 24.13
Sweden Bangladesh ó 10.07
Sweden India ₹ 8.74
Sweden Mexico $ 2.32
Sweden Nepal NP₨ 13.73
Sweden Pakistan PKRs 20.11
Sweden Philippines ₱ 6.05
Sweden Sri Lanka ₨ 23.09
United Kingdom India ₹ 103.45
United Kingdom Mexico $ 28.25
United Kingdom Nepal NP₨ 164.66
United Kingdom Pakistan PKRs 239.04
United Kingdom Philippines ₱ 71.42
United Kingdom Sri Lanka ₨ 278.89
USA Bangladesh ó 87.75
USA India ₹ 75.03
USA Mexico $ 20.46
USA Nepal NP₨ 120
USA Pakistan PKRs 176.05
USA Philippines ₱ 52
USA Sri Lanka ₨ 202.94

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.

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Alternatives to Remitly

Remitly User Reviews and Ratings

reviews powered by trustpilot

Everything was great

Review published ago

Everything was great

by Presley

Everything was great

Review published ago

Everything was great

by Presley

I have sent money to my family and they…

Review published ago

I have sent money to my family and they al got it in a time. Good customer service too.

by Lito Jocosing

I have sent money to my family and they…

Review published ago

I have sent money to my family and they al got it in a time. Good customer service too.

by Lito Jocosing

Mitkov

Review published ago

Hdhdhvbshwjcv

by Emin Mitkov

Mitkov

Review published ago

Hdhdhvbshwjcv

by Emin Mitkov

Schnell sicher und problemlos

Review published ago

Ich habe die Überweisung für einen Freund gemacht . Durch die Kreditkarte ging alles hervorragend . Leider muss man mehrmals überweisen, da man nicht zuviel auf einmal überweisen kann und darf. Es scheint sicher und es ging auch sehr schnell .

by Corina Barth

Schnell sicher und problemlos

Review published ago

Ich habe die Überweisung für einen Freund gemacht . Durch die Kreditkarte ging alles hervorragend . Leider muss man mehrmals überweisen, da man nicht zuviel auf einmal überweisen kann und darf. Es scheint sicher und es ging auch sehr schnell .

by Corina Barth

Best way where you can send money…

Review published ago

Best way where you can send money transfer for your families. It’s your choice with charge or with charge how fast for them to receive.

by Sanmel Reyes

Sehrgut mit Potenzial

Review published ago

Ich finde, bei der Überweisung sollte auch ein Zweckfeld geben. Sonst sehr schön und bequem

by HAKAN

Paiement en attente depuis plusieurs…

Review published ago

Paiement en attente depuis plusieurs jours car ils ont bien réceptionné mon argent. 361 euros dans vos mains. et ma famille n'arrive pas à récupérer l'argent au bled , pourtant mon profil est bien complèté vous avez ma pièce d'identité pourquoi vous garderez mon argent. je vous demande de libérer mon transfert.

by leonard da

The money was received promptly & it’s…

Review published ago

The money was received promptly & it’s easy to transfer the money

by Ellen Banda

Remitly Team

Review published ago

Remitly Team - I had transferred money on sep 01 2020 and due to some issue money was not sent to recipient, Then i contacted remitly CC care almost every week i am speaking to customer service .. but no progress .. Its 1month now i still did not received my refund. As suggested by remeitly team i have agreed for refund and they promised for refund in 2 week when i spoke on 29sep but i am still stcuk there .. i really need remitly leadership to look over and do the needful ASAP. Hoping the best !!

by Sampath Kumar

Attention grosse arnaque sur le taux de…

Review published ago

Attention grosse arnaque sur le taux de change et sur le parrainage, alors j'ai effectué un parrainage et je n'ai pas reçu le code pour profiter de la promo

by Rami Oueslati

Es geht schnell und unkompliziert!

Review published ago

Es geht schnell und unkompliziert, ich bin gut zufrieden.

by Anneliese Jäger

K. G Ich bin im Moment total ert und…

Review published ago

Ich bin im Moment total verärgert und gehe Morgen eine Anzeige machen! Am 4.10 wurde Geld nach Russland überweisen, laut Status war es am 6.10 angekommen aber nicht bei dem Empfänger! Name&Konto korrekt. Hatte davor zwei Überweisungen, diese klappten super und ich wollte eigentlich diesen Service gerne nutzen. Aber jetzt nicht mehr. Habe seit dem 11.10 sehr viele Anrufe getätigt und mir wurde versprochen es zu klären... Seit Montag 18.10 werde ich komplett ignoriert nicht mehr zurückgerufen und der dolmetscher hat auf einmal auch keine Zeit. Bleibt nichts anderes Übrig als eine Anzeige zu machen und notfalls auch den Rechtsanwalt einzuschalten. NICHT SERIÖS so etwas!

by Katharina xXx

Worst money transfer app ever

Review published ago

Worst money transfer app ever, a zero star rating would be too generous. I've used other money transfer apps with no problems at all, remitly is the exception. How many times must i verify my identity? Then have my account suspended when i try to re-verify my already verified identity? Ridiculous! Don't just suspend my account, delete it swiftly and permanently, i want absolutely nothing to do with remitly whatsoever!!!

by Bazu

This company is full of excuses as to…

Review published ago

This company is full of excuses as to why my transfer is held up. I am sending from myself to myself and do this with other platforms with no issue. They constantly blame their "partner" for needing more info. I do not know how many times I can send them my passport and bank statements. I will never use this company again.

by Arik Anderson

Alles ist gut gelaufen

Review published ago

Alles ist gut gelaufen

by Mevlane Camur

I had a bad experience with a live chat…

Review published ago

I had a bad experience with a live chat agent named Henry. He is rude and driving me around with nonsense answer then end my chat when he could not provide the answer. Please remove him from customer service team. Don’t let this person ruin your reputation. Please contact me if you want to know more about this person.

by Hue Tang

Started out good

Review published ago

Started out good, they actually sent money to a scammer in China, but when I tried to send money for my tuition in Ukraine, they shut me down, tried to blame the bank. Be careful, financial transfer companies being very nazi-like these days with our money!

by Ronald Benjamin

Ele só faz enrolar eu fiz uma…

Review published ago

Ele só faz enrolar eu fiz uma transferência de 1150 €eles levar um dinheiro da minha conta e até agora não me dar estão só enrolando falando que o problema do meu banco já entrei em contato com meu banco falou que é eles que tem que devolver e até agora nada todo dia eu mando mensagem ele só contar a mesma história não vou mais mandar dinheiro com esse aplicativo atento eles são Espertos O dinheiro foi debitado da minha Conta e a transferência foi cancelada e até agora não recebi o reembolso

by Geovanna Russo

De total confianza!!

Review published ago

De total confianza!!! Excelente servicio, en menos de 10 minutos estaba ya el envío echo y confirmado, gracias a quien a creado un servicio tan rápido, cómodo y seguro para quienes enviamos dinero a nuestras familias.

by Dora Ortiz

schlechte Erfahrung, schlechte Rückerstattungsprozess, System viele errors, ineffizient

Review published ago

immer nach der Bezahlung, website oder App error. Aber das Geld vom Konto gleich abgebucht trotz nicht erfolgreiches Transfer Transaktion. Remitly Kundenservice akzeptiert nicht das Screenshot obwohl da steht Remitly Europe IBAN und Referenz Nummer in Screenshot. Remitly braucht erst das PDF File vom Bank Finanzreport bevor sie die Rückerstattung starten kann! aber das Finanzreport kommt erst Ende des Monats!!! Fingerweg! Nichts zu empfehlen

by janine T
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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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