Remitly Reviews

All the useful information that you need to know before sending money with Remitly!

5 stars based on 11710 reviews

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USD MXN $ 18.38
USD INR ₹ 73.08

Overview

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

Exchange Rate IQ’s Review of Remitly

Overall rating
8 /10

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.

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

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

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 User Reviews and Ratings

reviews powered by trustpilot

Fast

Review published ago

am Very happy fast service

by Romualdo Padua

Fast

Review published ago

am Very happy fast service

by Romualdo Padua

I like your service

Review published ago

I like your service. Accepted required documents and give service fast.also customer care excellent job Thanks

by YOGESH XAVIER DMELLO

I like your service

Review published ago

I like your service. Accepted required documents and give service fast.also customer care excellent job Thanks

by YOGESH XAVIER DMELLO

its excellent

Review published ago

its excellent

by RAGHURAM SHARMA Cheruku

its excellent

Review published ago

its excellent

by RAGHURAM SHARMA Cheruku

Thanks for the very nice exchange rate…

Review published ago

Thanks for the very nice exchange rate you have given me.will definitely use your service from now on.

by Vic Robles

Thanks for the very nice exchange rate…

Review published ago

Thanks for the very nice exchange rate you have given me.will definitely use your service from now on.

by Vic Robles

wow super fast and secure

Review published ago

wow super fast, Money deposited from my Canadian account to Indian account within 5 min.no issue no paper work no need to drive around to find other money transfer sources. 100% safe and secure

by Karamjit gill

Very good service and money gets…

Review published ago

Very good service and money gets deposited very quickly and safely

by Savio Advin Pinto

primera vez que utilizo esta aplicacion…

Review published ago

primera vez que utilizo esta aplicacion y lo recomiendo 100% de que tu dinero llega al destino y con baja comision.

by friend

I was offered great exchange rate

Review published ago

I was offered great exchange rate, In fact best exchange rate at the time of my transaction. But the service could've been little faster. I am not comparing but XOOM does their transactions on the same day to the same recipient.

by Sreenivas

Really quick money tranfer!

Review published ago

Really quick money tranfer!

by Quirino Bartolome Jr

Super fast delivery and super quick…

Review published ago

Super fast delivery and super quick service

by Andres Castro

Found an EXCELLENT exchange rate . . and

Review published ago

Found an EXCELLENT exchange rate, . . . and as a new customer, also benefited from: a) a zero fee offer, and b) seeing the care that is taken to prevent possibly troublesome or problematic transfers to unfamiliar parties ( - as was not in fact the case !).

by A NuUser, UK

Rápido y facil..

Review published ago

Rápido y facil..

by marco antonio torres

Asta orita muy bien

Review published ago

Asta orita muy bien

by miguel Garcia

Very good for sending money and fast

Review published ago

Very good for sending money and fast

by Haricharan Shetty

I didn’t think remitly were going to…

Review published ago

I didn’t think remitly were going to put so much hassle in order to send money abroad the second time. I can understand that you are just doing your job from your end but in that case you should inform all these things from the very beginning before we start using remitlys e-service. I had to send money to my very sick aunt and it was a matter of life and death. So if you just would’ve informed me that you needed my credit card paperwork in the beginning, then I wouldn’t have gone through all that stress in a urgent situation as I had to go through. So you should really rethink how to do things better regarding what I’ve just mentioned.

by Marcela Mardones Mardones

🙂🙂🙂

Review published ago

Very fast and very convenient

by mark ralvin oliquino

Very good in service

Review published ago

Very good in service

by Marissa Lastimosa

It was fast and easy

Review published ago

It was fast and easy, and from the comfort of my home!

by Paola

Rapidi y puntual

Review published ago

Rapidi y puntual

by Leonor Maribel Castillo Burgos

Good quick n convenient from the moment…

Review published ago

Good quick n convenient from the moment u send the money you will be inform and update about your money n d moment it will be pickup by the person u zend d money to

by Romeo Castanares
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Remitly Transfer Process

  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 & Confirm the Transfer

Once the process is completed, Remitly will confirm a date & time by when the fund would be deposited overseas. After the completion of the transfer, you will reactive a status update & confirmation from the support team.

Remitly Promo Codes & Offers

United States to India
New customers - Get more exchange rate up to $2999
United States to Philippines
Your first 5 Express transfers are FREE! and Plus get a $30 gift card on your first transfer of $100
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 a rate of 7.75 GTQ per dollar on your first transfer
United States to All Countries
Free first transaction for New Users
United States to Colombia
New customers - Get $3,000 pesos for every dollar on your first transaction
United Kingdom to India
Get first time offer
United Kingdom to Philippines
New customer offer : Get a £20 Amazon.co.uk Gift Certificate* on your first transfer of £100 or more
Canada to Philippines
New customer offer : Get ₱39 for every dollar on your first transaction.
Canada to India
Offers for new customers on first transaction

Transfer Type And Modes

Pay In Options

Bank
Credit Card
Debit Card

Pay Out Options

Bank

Service Mode

 Online

Exchange Rate Type

Fixed

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
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