Remitly Review- Transfers Money Faster and Cheaper 2021

4 stars based on 33058 reviews

Send Money To Rate
USD PHP ₱ 51
USD MXN $ 20.16
USD INR ₹ 74.34

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 63.61
Australia India ₹ 55.68
Australia Mexico $ 14.6
Australia Nepal NP₨ 88.39
Australia Pakistan PKRs 121.61
Australia Philippines ₱ 39.9
Australia Sri Lanka ₨ 150.5
Canada Bangladesh ó 69.25
Canada India ₹ 60.9
Canada Mexico $ 16.09
Canada Nepal NP₨ 96.75
Canada Pakistan PKRs 133.25
Canada Philippines ₱ 41.25
Canada Sri Lanka ₨ 165.62
Denmark Bangladesh ó 13.32
Denmark India ₹ 11.89
Denmark Mexico $ 3.09
Denmark Nepal NP₨ 18.95
Denmark Pakistan PKRs 25.7
Denmark Philippines ₱ 8.2
Denmark Sri Lanka ₨ 31.63
Euro Countries Bangladesh ó 101.08
Euro Countries India ₹ 88.29
Euro Countries Mexico $ 24.03
Euro Countries Nepal NP₨ 138.94
Euro Countries Pakistan PKRs 190.31
Euro Countries Philippines ₱ 61.77
Euro Countries Sri Lanka ₨ 233.51
Norway Bangladesh ó 9.47
Norway India ₹ 8.67
Norway Mexico $ 2.21
Norway Nepal NP₨ 13.34
Norway Pakistan PKRs 18.36
Norway Philippines ₱ 5.93
Norway Sri Lanka ₨ 22.76
Sweden Bangladesh ó 9.97
Sweden India ₹ 8.67
Sweden Mexico $ 2.29
Sweden Nepal NP₨ 13.65
Sweden Pakistan PKRs 18.74
Sweden Philippines ₱ 6.01
Sweden Sri Lanka ₨ 22.89
United Kingdom Bangladesh ó 118.22
United Kingdom India ₹ 104.13
United Kingdom Mexico $ 28.21
United Kingdom Nepal NP₨ 165.82
United Kingdom Pakistan PKRs 225.76
United Kingdom Philippines ₱ 71.66
USA Bangladesh ó 86.75
USA India ₹ 74.42
USA Mexico $ 20.27
USA Nepal NP₨ 119
USA Pakistan PKRs 163.81
USA Philippines ₱ 51.5
USA Sri Lanka ₨ 200.44

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

La empresa Miente

Review published ago

La empresa Miente, Me siento estafado, cuando cancelas una transaccion, te quitan el dinero por supuestamente 10 dia habiles, y cuando llamas a los diez dias habiles te dicen que ya te lo devolvieron a tu banco lo cual al investigar es mentira, y tu banco tiene que hacer hasta una investigacion para poder recuperar el dinero. Durante este proceso te inventan un nueva transaccion para no devolverte el dinero.. Son unos estafadores... Te bloquean en la aplicacion para que no logres acceder a la informacion de las transacciones y asi no tengas como demostrar la trampa que ellos ejecutan con su gente internamente..

by Wilton Linarez

La empresa Miente

Review published ago

La empresa Miente, Me siento estafado, cuando cancelas una transaccion, te quitan el dinero por supuestamente 10 dia habiles, y cuando llamas a los diez dias habiles te dicen que ya te lo devolvieron a tu banco lo cual al investigar es mentira, y tu banco tiene que hacer hasta una investigacion para poder recuperar el dinero. Durante este proceso te inventan un nueva transaccion para no devolverte el dinero.. Son unos estafadores... Te bloquean en la aplicacion para que no logres acceder a la informacion de las transacciones y asi no tengas como demostrar la trampa que ellos ejecutan con su gente internamente..

by Wilton Linarez

Great and easy fast experience with…

Review published ago

Great and easy fast experience with excellent customer service

by Robert Zagorski

Great and easy fast experience with…

Review published ago

Great and easy fast experience with excellent customer service

by Robert Zagorski

Not for big transfers!

Review published ago

I had wanted to send an amount over 5K GBP to India. They needed a recent statement to raise me to Tier 2 to be able to do that. They also wanted me to send the amount to their bank account within 24hrs. I had moved the money from my savings account to normal account before sending it (banks recommend that you don't put a lot of money in accounts that have debit card access due to fraud!) The bank kindly agreed to send an updated statement because the pay slip would obviously not reflect such a huge transfer amount. The statement was made available today morning and it reflected the fact that the money was sent to Remitly itself but because there wasn't a remaining balance of over 5K after the transfer was made to Remitly, they couldn't send the money to India. Makes you wonder if people with a little bit of common sense work there! Now they said it will take up to 48hrs for the money to reflect in my account, which means that I can't send it through another money transfer service! DO NOT use this service if you want to send a big amount for some urgent bills! They complicate things to another level that I didn't know existed!

by Sherly Jacob

Not for big transfers!

Review published ago

I had wanted to send an amount over 5K GBP to India. They needed a recent statement to raise me to Tier 2 to be able to do that. They also wanted me to send the amount to their bank account within 24hrs. I had moved the money from my savings account to normal account before sending it (banks recommend that you don't put a lot of money in accounts that have debit card access due to fraud!) The bank kindly agreed to send an updated statement because the pay slip would obviously not reflect such a huge transfer amount. The statement was made available today morning and it reflected the fact that the money was sent to Remitly itself but because there wasn't a remaining balance of over 5K after the transfer was made to Remitly, they couldn't send the money to India. Makes you wonder if people with a little bit of common sense work there! Now they said it will take up to 48hrs for the money to reflect in my account, which means that I can't send it through another money transfer service! DO NOT use this service if you want to send a big amount for some urgent bills! They complicate things to another level that I didn't know existed!

by Sherly Jacob

Nice service

Review published ago

Nice service

by Dj Lopi The Producer

Nice service

Review published ago

Nice service

by Dj Lopi The Producer

My experience with Rupa (Customer…

Review published ago

My experience with Rupa (Customer Service Rep) on the night of 28 July 2021 was very impressive and outstanding. She stayed completely with me via phone conversation until the issue with my recipient in the Philippines was resolved. She is very thorough, knows her job and an oustanding performer in the Customer Care profession. Hats-off to her. To her manager Mr Garnish, you have a very reliable asset in your organization. Keep on tracking!

by Apolonio Quejado

I found this app very useful as it's…

Review published ago

I found this app very useful as it provides super quick transfer, competitive rates and easy to use.

by Vikas Kumar J DESAI

So far so good to my family has been…

Review published ago

So far so good to my family has been great, but i could not transfer to a friend because it is not easy to understand how to find the banks.. if i can get help with that, would be great! I do monthly transfers to 2 banks 1.- Banco regional s.a. (RGIOMXMTXXX) Which i could not find 2.- Banco Nacional de Mexico (bnmxmxmmxxx) its ok with this bank.. Hope to hear ur comments..

by Kladje GaoNie

Excellent

Review published ago

I like this remitly for transfer the money

by Deeplah

Super Service

Review published ago

Einfach, schnell und unproplematisch!!

by Erhard Kirchhoff

Strong Endorsement

Review published ago

Very competitive transmission fee. Seamless, crisp and efficient service to the Republic of the Philippines. Greater ease of transfer than with WU or Xoom. Will use in the future and recommend to friends. We can surely use Remitly's lower money transfer rates to the Philippines given the new 10% remittance tax just imposed on such transactions.

by P C Pete Kutschera

Very nice

Review published ago

Very nice , user friendly, easy to follow , excellent status report, efficient. Very happy to have been introduced to this system.

by Padma Parmar

avoid avoid avoid very bad company

Review published ago

I transfer money 2 weeks a go via faster payment to my family. since then I am chat with the remitly every single day because my money is not transfer they keep saying within 24 to 48 hours your money will transfer and will sorted asap and every other day i have to chat with them and spend hours on the chat first account number I gave initially they said they cant transfer in this account after then I gave my other account detail and I am still chasing them they not refund me my money and not able to transfer my money very bad company. and their customer service is very bad they don't know what they are doing I save all the transcript of the chat now i am contacting my bank to sort thing out with this unprofessional company

by Aftab Qureshi

The customer service team suspended my…

Review published ago

The customer service team suspended my account and never issued a reason as to why this occurred. Attempts to attain a reason for the suspension never yielded a damn thing. I was referred to the rules and regulation page. I never violated any rules until the suspension. I will contact the BBB and the state department to ascertain this form of discrimination.

by Kennedy Boinett

Avoid misleading and false Promotions for referred clients

Review published ago

Avoid! Avoid! Avoid! I was sent a referral code which stated £20 discount and promotional exchange rate on my first transfer to Kenya. Remitly did not honour their own promotion and said i could only have one or the other. They rope people in with false promises and they claim their transparent, far from it. Use other companies who at least are truthful. UPDATED: Please stop sending me these cut paste and responses. I have already got in touch with you on several occasions and you have been of no assistance. You are now claiming that two customers in the same household are not entitled to promotional exchange for a first transfer. It is laughable as your website states differently. I have copied the relevant part from you help page "You live at the same address as another Remitly customer. In these cases, our system may assume your account is a duplicate and isn’t eligible for an offer. If we've accidentally flagged your account as a duplicate, please let us know."

by F G

AVOID AT ALL COSTS LEST YOU GET STUNG

Review published ago

OK, so today I was asked by a Chinese company to pay them via Remitly/Alipay for a service I'd requested online. I checked Remitly out to make sure they were genuine, opened the account, and sent the payment. The payment has left my account in the UK, but I've since received an email saying that my Remitly account has been closed due to 'ilicit activities'. Utter bullsh*t; I was buying international ISO standards, no unlawful activity whatsoever, and the money that left my account still hasn't been returned. This site is a scam, and all positive feedback I suspect is left by employees and/or bots. DO NOT USE AVOID AT ALL COSTS.

by Matthew Judge

Estafa y engaño

Review published ago

Llevo varias (6) transferencias a un familiar. La primera le llamaron y tardo 24 horas, luego me confirman que a esa dirección y con tarjeta son minutos. Pues bien ,nunca fue más de una hora, pero la última hace 24 horas, y cuando contacto con ellos dicen que esta en proceso, recomiendo al mundo usar otro(western) es más caro, pero estos te estafan en el cambio. Mi familiar mo recibió inyección de quimio porque no ingresaron(a mi me cobraron envío y comisión en euros). Tened cuidado, mejor lo conocido que estos encantadores de sirenas, estafa pura.

by jose delgado

Worse customer service and no reason…

Review published ago

Worse customer service and no reason for locking the account. World remit is way better

by anees apsara

Sehr zufrieden

Review published ago

Sehr zufrieden

by Anjam Riaz

Ignore bad reviews

Review published ago

As long as you enter your legitimate details & correct recipient details, sending money is completely safe and SUPER QUICK for FAST option, & up to 5 days for NORMAL option. I have been using Remitly for over a year on regular basis with no issues. Perfect transaction every time :-)

by Jimmy Elroy

Promesas hace dos semanas hice una…

Review published ago

Promesas hace dos semanas hice una transferencia y resulta que ya fue cobrada hablo con remitly y puras promesas que van a investigar tienen una labia para hablar los operadores que al final no te resuelven nada y mi hermana habla con el gerente del banco Elektra y que no hay ninguna transacción y aquí remitly según están pidiendo comprobante del cobro ahorita les marcó y ya no me contestan como si broquearon mi teléfono tenía bastante años con ellos y hasta ahorita me pasó esto y ya no sé si me van a reponer mi dinero o que.

by David V
show more >>

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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