Remitly Review- Transfers Money Faster and Cheaper 2020

5 stars based on 19549 reviews

Send Money To Rate
USD PHP ₱ 48.87
USD MXN $ 18.34
USD INR ₹ 70.86

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 55.99
Australia India ₹ 47.76
Australia Mexico $ 12.09
Australia Nepal NP₨ 76.39
Australia Nigeria ₦ 232.88
Australia Pakistan PKRs 102.9
Australia Philippines ₱ 33.79
Australia Sri Lanka ₨ 119.77
Canada Bangladesh ó 63.08
Canada India ₹ 53.68
Canada Mexico $ 13.72
Canada Nepal NP₨ 84.3
Canada Nigeria ₦ 265.64
Canada Pakistan PKRs 114.7
Canada Philippines ₱ 37.92
Canada Sri Lanka ₨ 135.21
Denmark Bangladesh ó 12.07
Denmark India ₹ 10.27
Denmark Mexico $ 2.61
Denmark Nepal NP₨ 16.21
Denmark Nigeria ₦ 50.6
Denmark Pakistan PKRs 22.01
Denmark Philippines ₱ 7.22
Denmark Sri Lanka ₨ 25.82
Euro Countries Bangladesh ó 90.2
Euro Countries India ₹ 76.88
Euro Countries Mexico $ 19.75
Euro Countries Nepal NP₨ 121.16
Euro Countries Nigeria ₦ 378.18
Euro Countries Pakistan PKRs 165.05
Euro Countries Philippines ₱ 54.06
Euro Countries Sri Lanka ₨ 192.92
Norway Bangladesh ó 8.99
Norway India ₹ 7.57
Norway Mexico $ 1.95
Norway Nepal NP₨ 12.09
Norway Nigeria ₦ 37.61
Norway Pakistan PKRs 16.47
Norway Philippines ₱ 5.41
Norway Sri Lanka ₨ 19.24
Sweden Bangladesh ó 8.56
Sweden India ₹ 7.28
Sweden Mexico $ 1.88
Sweden Nepal NP₨ 11.51
Sweden Nigeria ₦ 36
Sweden Pakistan PKRs 15.68
Sweden Philippines ₱ 5.14
Sweden Sri Lanka ₨ 18.32
United Kingdom Bangladesh ó 109.21
United Kingdom India ₹ 92.76
United Kingdom Mexico $ 23.74
United Kingdom Nepal NP₨ 145.99
United Kingdom Nigeria ₦ 459.05
United Kingdom Pakistan PKRs 199.14
United Kingdom Philippines ₱ 65.15
United Kingdom Sri Lanka ₨ 233.72
USA Bangladesh ó 84.25
USA India ₹ 71.11
USA Mexico $ 18.34
USA Nepal NP₨ 111.97
USA Nigeria ₦ 353.24
USA Pakistan PKRs 153.05
USA Philippines ₱ 48.87
USA Sri Lanka ₨ 178.04

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

Reliable money transfer portal with…

Review published ago

Reliable money transfer portal with competitive rates. Mobile App is very good too. Cancellations are trouble free.

by customer

Reliable money transfer portal with…

Review published ago

Reliable money transfer portal with competitive rates. Mobile App is very good too. Cancellations are trouble free.

by customer

They are scammers

Review published ago

They are scammers.....First asked my bill,statement and my passport after verifying all inforamation i made the payment after that they are asking for recipient ID from me.I have provided them his ID as well then saying that need another statment from your side which can be your bank account i asked them why you required my bank statement i am paying you guyz from my credit card which i already provided then said to take a screenshot of my online bank i argued with them about it and said we are going to close your account and suspend my transcation.They took every single information from my side and charged my card.They are scammers do not use there service they will took all of your information and not allow you to send remitance.

by SHAHBAZ

They are scammers

Review published ago

They are scammers.....First asked my bill,statement and my passport after verifying all inforamation i made the payment after that they are asking for recipient ID from me.I have provided them his ID as well then saying that need another statment from your side which can be your bank account i asked them why you required my bank statement i am paying you guyz from my credit card which i already provided then said to take a screenshot of my online bank i argued with them about it and said we are going to close your account and suspend my transcation.They took every single information from my side and charged my card.They are scammers do not use there service they will took all of your information and not allow you to send remitance.

by SHAHBAZ

Garbage been sending money from so…

Review published ago

Garbage been sending money from so long, suddenly ask me for any time of ID, i know security is importat but in this case i so stupid, i say no more.. there are better options, and paypal is one of them pays better same day, don't have to wait 4 day,doesn't charge much, in order to get it paid better, Xoom, remitly, stupid,, go paypal is a lot better...

by viridiana256072

Garbage been sending money from so…

Review published ago

Garbage been sending money from so long, suddenly ask me for any time of ID, i know security is importat but in this case i so stupid, i say no more.. there are better options, and paypal is one of them pays better same day, don't have to wait 4 day,doesn't charge much, in order to get it paid better, Xoom, remitly, stupid,, go paypal is a lot better...

by viridiana256072

Décevant …

Review published ago

J ai envoyé l argent ça s est bien passé le premier jour , la deuxième fois c est catastrophique je n arrive même plus à annuler la transaction puis le service client est tout juste nullll je déconseille c est vraiment décevant En plus vous me demandez d appeler par tel , alors que j ai envoyé pas de mail sans réponse puis vous disposez d un numéro surtaxé !!!!!!!!!! Nul

by LEDUC MALIKA

Décevant …

Review published ago

J ai envoyé l argent ça s est bien passé le premier jour , la deuxième fois c est catastrophique je n arrive même plus à annuler la transaction puis le service client est tout juste nullll je déconseille c est vraiment décevant En plus vous me demandez d appeler par tel , alors que j ai envoyé pas de mail sans réponse puis vous disposez d un numéro surtaxé !!!!!!!!!! Nul

by LEDUC MALIKA

Trustworthy and quick service.

Review published ago

Trustworthy and quick service.

by Rosario

Es fácil y rapido.

Review published ago

Es fácil y rapido.

by Grabiel

Ohh My God... IS THIS A FRUAD???

Review published ago

Ohh My God. I am taking pain writing this long post so that others do not fall pray to it. This is some fraud. They promote/advertise(1USD = 71.55 INR) that you can transfer amount at particular high rate initially till you transact USD 2,999. Disclaimer - I have never used REMITLY, this is first time I am using. Stage 1 - I registered after reviewing their promotional exchange rate and then started my transaction process. Stage 2 - I completed all their 4-5 steps to complete my transaction. NOW HELL starts.... At the last step, suddenly my transaction has been automatically updated to changed rate i.e. 1USD = ~70.39 INR. Had I not been noticing changes, I would have end up getting duped my their promotion and ultimately charged what any regular exchange service would have charged. I just want to make sure if this is a fraud... as what you are doing is 1. Promote and entice customers by offering some RATE 2. Then REMITLY changes rate WITHOUT intimating about such change. OK, fine there might be some hidden rules which might have come into play... I thought to get this clarified by approaching their CUSTOMER SERVICE by chat. Please read on to get MOST ABSURD reasons... hold tight. 1. Customer service associate Pratik T takes all the details from me to verify WHO AM I?... then he updates me that, "There are number of other REMITLY users at same address that you provided, this offer can not be applied to you." I argued, "then why do you take so much of my info, complete name, bank account, SSN, Contact number etc etc... and later you are just verifying individuals based on addresses... does that mean NO ONE should change OR rent a place where someone has already used that address for such a DIVINE service called REMITLY??" Now here comes surprise... 2. Mr. Pratik enlightens me that "There is one option, where in you can provide us/remitly your RENTAL/LEASE agreement, we will verify and then we can try top get you same offer???" Ohh my God, such a generosity. 3. when I cross argued Mr. Pratik offers me that he can arrange a callback from his Manager to clarify doubts. I totally agreed. 4. Here comes BIG BOSS, Mr Rishi. He is the floor Manager and he further try to educate me. He says that "We are so sorry.... blah blah blah.... We can not provide you same rate since there have been multiple registration from same address which is against Remitly policy but if you have rented/leased that place and can provide us rental agreement then we can try to get you promotional rate." 5. Wow, are these(Remitly) people some BANKER OR are you doing any favor to me OR providing this service for FREE? Not at all, my issue is 1. You took all of my details before providing me your promotional offer. 2. During transaction you are offering same promotional offer 3. You changed that offer without intimating me throughout the process. 4. Then when I noticed and contacted you, you gave me some absurd reason to deny me promotional offer. Why during transaction process you have not provided me that option to upload rental agreement or whatever?? 5. You are again offering me that promotional rate IF I PROVIDE YOU RENTAL AGREEMENT offline, why? 6. I can do that, but why??... you are not doing any favor to me nor providing your services for FREE so that I oblige. These people do not give a damn about your business then why should I even use it.

by Sohil

Ridiculous Disqualification

Review published ago

I thought I was fortunate to have access to Remitly. I made a couple of transfers to people I respect, have known a long time, and in whom I have great faith and trust. I was sorely disappointed when I was contacted by Remitly and advised I could no longer use its services. The reason given was that the people I was transacting with may have violated some taboo. This is completely bogus. Not only that, there is really no effective way of challenging this kind of nonsense. I would like to see the law changed so that in order to ban someone, the service would have to provide some concrete information that could then be challenged and they could be forced to withdraw their ban if they could not prove their allegations. This is fundamental fairness. Further, it is fundamentally unfair to my friends that organizations like Remitly can tar their reputations without giving them or anyone else the right to respond and force them to correct their records. I realize this is an industry-wide problem but I thought I had found an exception with Remitly! I regret to say how completely wrong I was!

by Hal Fretwell

Less competitive rates

Review published ago

Very trustworthy website but most of time they do not provide competitive rates and takes longer transfer times. So whenever I send money to India, first I compare exchange rates on comparison portal "RemitAnalyst".

by shah nitin

Excelente

Review published ago

Excelente, todo correcto y a tiempo, recomendado al 100% envio dinero a colombia sin moverme de donde estoy, desde mi cuenta hasta la cuenta de la persona que recibe o si prefieres en ventanilla también.

by Jose

Excelente servicio

Review published ago

Excelente servicio. Lo recomiendo siempre que puedo. Desde que pude abrir cuenta en el banco. En España. La estoy utilizando. Le envío la mesada a mi familia a Colombia. Y el cambio €uro_ Peso. Es el mejor que he encontrado. La comisión más baja. Y el giro a cuenta es muy rápido. Esepto a la frontera con Venezuela. Que no se puede hacer. Sólo depósito en en pagos internacionales. Gracias Remitly.

by raquel rodriguez

A company with a heart.

Review published ago

Remitly seems to be a company with a heart.

by George

It’s fast and secure

Review published ago

It’s fast and secure, and most it’s cheaper! I like it a lot!!!

by Annabelle

good

Review published ago

good supper .quickly

by Friend

Es muy comodo.

Review published ago

Es muy comodo.

by Galdino

Great as of now

Review published ago

Great as of now

by Mory

Es fácil seguro rápido que más puedo…

Review published ago

Es fácil seguro rápido que más puedo decir gracias Remitly

by Modesto

My wife

Review published ago

My wife. Received her money quickly. Thanks

by Wallace

Me pidieron pruebas de identidad cuando…

Review published ago

Me pidieron pruebas de identidad cuando lo único q deseo es usar un servicio y eso no me gusta

by Jose

I do not recommend

Review published ago

I do not recommend. I sent money with the express service and they told me it had been received. I contacted me recipient and turns out they had not received the funds. I then ask my recipient to contact the partner Remitly sent the funds to to be deposited into their account and was told no funds were received. I then proceeded to contact Remitly, here a customer service agent named Joanne M, attended to me. She was delightful at first, then asked me to contact Vodafone again which I did on several occasions. At a point she told me correspondence was made and my transaction has been confirmed processed by the partners at 10pm, mind you, I sent the money at 9am and was talking to her at 1pm, so there was no way 10pm was accurate. When I drew her attention to this, she became very rude, impatient and not helpful. As things stand now, I still do not know the whereabouts of my money, and I’m enraged due to how Joanne M related to me

by Grace Danquah
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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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