Remitly vs Western Union

We compare Remitly and Western Union to see which money transfer service comes out on top.

Last updated:

Western Union is one of the most well-known international transfer services in the world, but let’s see how it compares to Remitly, an up-and-coming provider, to see which transfer service can take your dollar further.

The fees and rates used in this comparison are accurate as of 22 July 2019.

Min. Transfer Amount Transfer Speed Online Transfer Fee Rate Amount Received Description CTA Details
CAD 1 Same day CAD 20.00 0.729 USD
3,629
Send money online to friends and family around the world with Western Union. Show details

Compare up to 4 providers


The “Rate” and “Amount Received” displayed are indicative rates that have been supplied by each brand or gathered by Finder.

Exchange rates are volatile and change often. As a result, the exchange rate listed on Finder may vary to the actual exchange rate quoted for the brand. Please confirm the actual exchange rate and mention “Finder” before you commit to a brand.

Which has lower fees?

Remitly

Remitly’s fees are as low as $0 but go up as high as $99.99, depending on the currency, how much you’re transferring and the speed of the transfer. Higher fees are applied on “express” transfers.

If you’re sending through the slower option, the fees are generally between $2 and $4 and can even be free in some cases.

Western Union

Western Union’s fees for an online money transfer vary greatly currency to currency and can either be a flat fee or calculated based on a percentage, so it’s vital to check the currency you’re exchanging using the Western Union price estimator.

Trophy icon
Winner: Remitly

Although there is a lot of variety with both, Remitly often has lower flat fees for slower transfers than Western Union.

Let’s crunch the numbers: Sending $100 and $1,000 to the Philippines

To see how these two services stack up, let’s compare how Western Union and Remitly fare for two different transfer amounts to the Philippines. Keep in mind, rates vary for other countries.

In this example, we’ll be using the quickest transfer possible. This means Remitly’s “express” option and cash pick-up with Western Union.

Sending $100 to the Philippines
Remitly Western Union
Transfer fee $6.99 $12
Exchange rate 1 CAD = 38.53 PHP 1 AUD = 38.3786 PHP
Transfer speed Minutes Minutes
Total pesos received PHP₱3,583.68 PHP₱3,377.32
Receiver gets PHP₱206.36 more
(around $5 CAD)
PHP₱206.36 less
(around $5 CAD)
Sending $1,000 to the Philippines
Remitly Western Union
Transfer fee $6.99 $30
Exchange rate 1 CAD = 38.53 PHP 1 CAD = 38.1838 PHP
Transfer speed Minutes Minutes
Total pesos received PHP₱38,260.68 PHP₱36,542.40
Receiver gets PHP₱1,718.28 more
(around $44 CAD)
PHP₱1,718.28 less
(around $44 CAD)

In both cases, Remitly ends up giving your receiver a few extra pesos in their pocket. The exchange rates are quite close, but it’s mostly Remitly’s lower fees that win out in the end.

Which offers better exchange rates?

Remitly

Remitly will normally add a margin to the exchange rates which varies for each currency. The margin normally sits between 0.4% and 2.5%.

For example, if you want to send money to Brazil:

  • Mid-market rate: 1 CAD = 2.8502 BRL
  • Remitly’s exchange rate: 1 CAD = 2.8200 BRL

Making it a margin of 1.06%.

Remitly often runs promotions which offer an exchange rate better than the mid-market rate for your first transfer on certain currencies.

Western Union

Western Union also adds a margin, but it tends to be quite a bit higher, ranging from 1% to 6%.

For example, if you want to send money to Brazil:

  • Mid-market rate: 1 CAD = 2.8502 BRL
  • Western Union’s exchange rate: 1 CAD = 2.7188 BRL

Making it a margin of 4.61%.

Trophy icon
Winner: Remitly

Remitly will often offer much better exchange rates than Western Union with a smaller margin added on.

Which is faster?

Remitly

Remitly offers an “express” option which will get your money to the destination near instantly, but it does come with a higher fee. If you opt for the cheaper “economy” option, you’re looking at a transfer time of 2-5 business days.

Western Union

Some Western Union transfers arrive the same day, while some take up to 5 business days. It also depends on the transfer and receiving method but in general, bank account to bank account transfers will take the longest and be the cheapest.

Trophy icon
Winner: Tie

Both Remitly and Western Union can transfer your money quickly, but they also take up to 5 business days for some transfers.

General features

Payment methods Receiving options Maximum and minimum transfers Transfer speeds Currencies
Remitly Bank transfer, debit card, credit card Bank account, cash pick-up Minimum: $10

Maximum: $18,000

3 – 5 days 30+ currencies
Western Union Bank transfer, cash transfer, POLi, debit card, credit card Bank account, cash pick-up, mobile wallet Minimum: $1

Maximum: $999.99

Same day 95+ currencies

Remitly

Once you have an account with Remitly, you log in on either the website or through the app, then enter the amount, currency, recipient’s information and your payment information. After that, Remitly will convert and transfer.

Western Union

After registration, open your profile and choose the “send money” option. After you’ve entered your receiver’s details, which includes bank name and code as well as their bank account number if a bank transfer, you choose your payment method. Once you’ve paid, Western Union will transfer the funds. You also have the option to send money in-store at an agent location.

Bottom line

Remitly offers both lower fees and better exchange rates, with the option to send money just as fast as Western Union. However, it doesn’t offer as many currencies as Western Union and this could be the deciding factor.

It’s a good idea to compare a range of international money transfer services before committing to any provider to make sure you’re getting the best deal possible.

Looking for more options?

Use our calculator below to compare additional providers and see if you can get a better rate elsewhere.

Min. Transfer Amount Transfer Speed Online Transfer Fee Rate Amount Received Description CTA Details
USD 150 1 day CAD 15.00 0.747 USD
3,723
Exclusive offer: Discounted exchange rates for your first and ongoing transactions. $0 transfer fee.
A higher exchange rate applies to non-finder customers. Send money in 45 currencies.
Go to site Show details
CAD 0 Within an hour CAD 3.99 0.751 USD
3,754
Use code FINDERCA and pay zero fees on your first transfer. Conditions apply.
An online money transfer service with cash pick-up, bank account to bank account and airtime transfers available.
Go to site Show details
CAD 1 1 - 2 days CAD 45.00 0.754 USD
3,738
Make online transfers with transparent exchange rates, low fees and low minimum amounts. Go to site Show details
CAD 0 1 day CAD 0.00 0.747 USD
3,734
Send money in more than 60 currencies. Fee-free international money transfers with a global brand. Go to site Show details
CAD 2,000 1 day CAD 0.00 0.747 USD
3,734
TorFX guarantee to beat any competitor's exchange rate for a transaction. Conditions apply.
Send money overseas in 45 currencies.
Go to site Show details

Compare up to 4 providers


The “Rate” and “Amount Received” displayed are indicative rates that have been supplied by each brand or gathered by Finder.

Exchange rates are volatile and change often. As a result, the exchange rate listed on Finder may vary to the actual exchange rate quoted for the brand. Please confirm the actual exchange rate and mention “Finder” before you commit to a brand.

Was this content helpful to you? No  Yes

Ask an Expert

You must be logged in to post a comment.

Go to site