Reviews of Remitly Money Transfer Company

8.7 score based on 3021 reviews

Send Money To Rate
USD PHP ₱ 49.25
USD MXN $ 17.42
USD INR ₹ 63.81

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.com

Overall Score
8.2

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
8
Speed
7
Security
10
Transparency
9
Market Coverage
6
User Experience
9

Pricing : How much does Remitly cost?

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?

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?

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?

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

Coverage: How many Countries & Currencies does Remitly support?

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

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

its already a week now..the transaction …

Review published ago

its already a week now..the transaction i made was delayed due to thier issues with partner banks..according to them..after days the send me notifications that the money has been completed..when my mom check the account did check balance there no deposit made on that day they told me its completed..i even provide proof of statement so that they can make actions asap..but uts been a week now..nothing i dont know where my money is!

by Julie Deleon

its already a week now..the transaction …

Review published ago

its already a week now..the transaction i made was delayed due to thier issues with partner banks..according to them..after days the send me notifications that the money has been completed..when my mom check the account did check balance there no deposit made on that day they told me its completed..i even provide proof of statement so that they can make actions asap..but uts been a week now..nothing i dont know where my money is!

by Julie Deleon

Excellent service!!!

Review published ago

Excellent service!!!

by Dolores Baybin

Excellent service!!!

Review published ago

Excellent service!!!

by Dolores Baybin

Excellent

Review published ago

Excellent, eassy way for online sending money to my family.

by Lorna Van Zyl

Excellent

Review published ago

Excellent, eassy way for online sending money to my family.

by Lorna Van Zyl

When I first heard Remitly

Review published ago

When I first heard Remitly, I said that can't be right there is no free transaction when you send money overseas but here we go we can send mOney for free if we are not in a hurry. Remitly is the most in_expensive way to send money to the Philippines and they also have the highest rate in any remitance I've used! I have been a member since 2013 and never had any problems with them also the costumer service are wonderful. Thank you Remitly for the wonderful service, costumer like me is very happy and pleased with yall's service!!!

by elsa werley

When I first heard Remitly

Review published ago

When I first heard Remitly, I said that can't be right there is no free transaction when you send money overseas but here we go we can send mOney for free if we are not in a hurry. Remitly is the most in_expensive way to send money to the Philippines and they also have the highest rate in any remitance I've used! I have been a member since 2013 and never had any problems with them also the costumer service are wonderful. Thank you Remitly for the wonderful service, costumer like me is very happy and pleased with yall's service!!!

by elsa werley

Remitly is the best among the other …

Review published ago

Remitly is the best among the other remittance providers . I really like the chat window popping on the home page and its easy to chat with customer executives and they are really responsive. Site is easy to use.

by Rajesh Pugazhendhi

awful service. Aggressive customer rejection policies

Review published ago

awful service. account blocked and transfer cancelled for NO REASON Agent said i had "violated their terms by sending a commercial payment," but it was a personal payment between 2 people. stupid company. AVOID

by nick M

Worse customer service.. Very poor service. No value of customer and it's time

Review published ago

Worse customer service. After registering an account when requested to increase limit... I had to chat and call many times to know what is going on. They claim that they respond in 1 hours or so but they totally lie. Even after 10 days, no progress happened. Every time, they say they are very busy and need to wait for 24-48 hours to hear back from them.. After every 2-3 days, I had to reach and ask what is going with my request, then they say we deposited small amount in your account and I need to verify. When I asked how should I do it, they say thorugh My Account. When I told them there is not option to do it. They say it is better to write email since it is fast. I did send email and next day I received email to verify small deposit thorugh My Remitly account and then I waited. After 2 days, when I contacted back to ask what is the status, they said we need bank statement for proof.. Again same story after another 2-3 days when I contact back them again, we need another document for address proof. They said pay stub will be acceptable so I emailed them pay stub because again there was no option left under Remitly.com. After giving all requested document which they asked, when I reached back after 3 days, they said they need more document to verify my address. I told that I gave my pay stub. The rep it was to see that you are capable of paying money or not. Rep told me to submit driving license. I told that rep that earlier representative told me that driving license is not acceptable and now you are asking it. He said we need that for proof of your address. I got frustrated and left the communication. Later, when I reached back, the other rep asked to submit other document for address proof but not a driving license. She said we don't accept driving license because it is not valid proof in North America as per their rules.. I got furious and frustrated. It was bunch of fools siting in the company in Philippines who don't know what they need. Finally, that rep deleted my account when I got frustrated with their answer on the phone.. I wasted few hours in keep following up with them during this 10 days dilemma. I do not recommend to deal with them since they don't care about customers as their company think they are very much in demand so don't care about anyone and they can play as they like..

by AP

Buggy transaction system

Review published ago

Couldn't process the transactions

by Nishanth Kondabolu

If I can give this company a zero I …

Review published ago

If I can give this company a zero I will. This is the second time that the money I sent was delayed. I have called 4 times since I received a message telling me the remittance is delayed. In every call, the reason for the delay is that the partner bank has not confirmed yet and that they have escalated it. 4 times!!! The money is for my nephew's exam. How many times do I need to call to get some positive result? How many times does the transaction need to be escalated for them to take action? I say the reason is total bs. How come that's the reason that you give to all complaints? You are not a reliable and dependable company. Everyone should rally to get this company shut down by authorities.

by FLORIAN

Worst Service.

Review published ago

Worst Service.. No Customer Satisfaction.. My Friend Transfer Money to Help me and nothing comes in my account . We waited for one week but nothing comes in account. Then we called back then we came to know that they need some ID to transfer the money...What the s**t? Money Deducted from his account then n there. If you need any proof ask him on the spot. He is transferring money from his account so Bank must seen the valid ID to open his account. Just because of their this s**t my payments got late n I have to bear penalty on my credit card. Don,t recommend this s**t to any one.

by Tushant Sisodia

Great service

Review published ago

Great service. Excellent rates and low fees.

by Vamsi Narla

Very user friendly app

Review published ago

Very user friendly app, good exchange rate, and fast service. I chose economy and was promised delivery by Friday to India but was actually delivered earlier. I would give it a 5 star rating and highly recommend it. Kudos to Remitly....

by Prem Singh

Excellent service!!!!

Review published ago

Excellent service, I had problems with sending to a bank in Guatemala and thanks to the chat service they were able to help me and the money was sent very easily and quickly.

by Hector Garcia

Hello at first their service was okay …

Review published ago

Hello at first their service was okay but until last Friday I use the money in minutes bank transfer but the problem it's Monday until now the money is not available ..

by Nelle

Disappointed

Review published ago

I send money to mexico from my local store and i recently moved over to this company to make it easier for me to send money and my family to receive it in a short period of time, i have sent money with remitly 3 time and those 3 times my money has been in review for more than 24 hrs my local store only took 1 hour to make the funds available for my family to pick up. Remitly is disappointing i will not waist my time using this company

by Jaime

Worst service and customer care

Review published ago

Worst service. I have transferred money through Remitly Express and they said the money has been deposited to the recipient account. But when I checked with the Recipient the money was not actually deposited. So, I have called Remitly Customer Service and they raised a case on 6/30/17. I have provided the bank statement of the recipient account. For the past 7 days they are saying this has been escalated and no response from their partner.Today it is 7/9/17 and still the same status. I have never faced this kind of an issue with any other money transfer service. Worst customer care. They are rude and gives a standard answer that they cannot do anything now. I wanted to talk to their supervisor but they say some reason to avoid it. They have debited the money from my account immediately. When I ask them to refund the money, they are talking about process and just trying to skip. It is still not resolved and I am struggling hard with Remitly to get my money back. ----- Update ---- Today is 7/12/2017 and still the same status. They say that they haven't received response from their partner bank. I wonder if they really have any partner bank or they are trying to rob the customer money. How can the status be same for 13 days. I have been calling them every single day and fed up with it. DO NO USE REMITLY. I am planning to file a complaint with Division of Financial Institutions tomorrow.

by Ila

Good exchange rate

Review published ago

Good exchange rate: clear directions for use and process: monies arrived effectively and quickly

by NIGEL JONES

I live in USA

Review published ago

I live in USA. But I have a condominium in Manila. I used to use Western Union. But since I have started using your services I have no problems. Your service is excellent. Your exchange rate is very good. I have recommend you to several of my friends.

by fire2hot

Never any problems with this service

Review published ago

Never any problems with this service. I am very satisfied.

by Ronald Durant

DO NOT USE REMITLY

Review published ago

Sent nearly 100k PHP through remitly and it has disappeared!! After many many phone calls and emails their customer service is horrendous, they are blaming my bank when it is clearly remitly fault,I was told 24hrs I will be refunded and here i am 2 days later trying to find out what happened to my money.. do not use remitly!!! Use a reputable sender like WesternUnion,yes their fees are higher but at least they know the meaning of customer service!! Absolute joke of a company I will never ever use them again.. if I don't get my money today then a lawsuit will be taken out on them, absolutely shocking service from the start and unfortunately I still have to deal with these idiots to get my money back.. DO NOT USE REMITLY,NOT EVEN TO SEND 1 PESO,1 PENNY,1 RUPEE!!!!! How can it take 6-7 hrs to respond to a email?? And why don't you put bad reviews on the remitly page?? I will post my experience on all forms of social media so other people will not be ROBBED and STOLEN from like me.. Update: after numerous emails,phone calls,texts they cannot be bothered to respond!! Great customer service remitly! Treat your customers like dogs see where you get..

by Armie
show more >>

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 Discount and 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
Cash
Credit Card
Debit Card

Pay Out Options

Bank
Cash

Service Mode

 Online

Exchange Rate Type

Fixed

Remitly Company & Contact Info

Type:- Money Transfer Company
Established:- May 23, 2011
Address:- Remitly, Inc.,
1601 2nd Ave.,
8th Floor,Seattle,
WA 98101
USA
Service Info:- (888) 736-4859
Founders:- Matt / Matthew Oppenheimer, Shivaas Gulati, Josh Hug
Email:- [email protected]
Social Links facebook twitter linkedin
Apps