{"id":753549,"date":"2018-10-22T16:18:26","date_gmt":"2018-10-22T05:18:26","guid":{"rendered":"https:\/\/www.finder.com\/ca\/?p=753549"},"modified":"2026-06-16T13:04:25","modified_gmt":"2026-06-16T17:04:25","slug":"remitly-money-transfers","status":"publish","type":"post","link":"https:\/\/www.finder.com\/ca\/international-money-transfers\/remitly-money-transfers","title":{"rendered":"Remitly Review: Is It One of the Best in 2026?"},"content":{"rendered":"

What is Remitly?<\/h3>

Remitly is a digital money transfer service that lets users send money internationally through its website or mobile app. It allows users in 32 countries, including Canada, the United States and the United Kingdom, to send money to 175+ countries and territories.<\/p>

Users can pay with bank transfers, debit cards, credit cards, mobile wallets or Interac e-Transfers, while recipients can receive funds through bank or debit card deposits, cash pickup locations, mobile wallets or even home delivery in some countries.<\/p>

Is Remitly legitimate in Canada?<\/h3>

Yes, Remitly is registered with the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) as a Money Services Business (MSB). This means it\u2019s legally allowed to offer money transfer services in Canada.<\/p>

A closer look at the pros and cons<\/h3>
\n
\n

Pros<\/h4>\n
    \n
  • Large network.<\/strong> Remitly allows users in 32 countries, like Canada, Australia and the United States, to transfer money to recipients in over 175+ countries.<\/li>\n
  • Delivery promise.<\/strong> Remitly guarantees that your money will be delivered by a specified time or your fees will be refunded.<\/li>\n
  • Speed.<\/strong> Transfers funded by debit, credit or a mobile wallet are typically delivered instantly, while Interac e-Transfer funding usually arrives within 9 hours.<\/li>\n
  • Diverse delivery options.<\/strong> Send money to bank accounts or debit cards, for cash pickup, directly to a mobile wallet or even for home delivery in selected markets.<\/li>\n
  • Rewards.<\/strong> Remitly's referral program makes it possible to earn rewards by referring friends and family members.<\/li>\n
  • Mobile wallet support.<\/strong> You can send money directly to your recipient's mobile wallet in certain countries, like MercadoPago in Mexico or GCash in the Philippines.<\/li>\n
  • Easy-to-use app.<\/strong> Remitly's mobile app is available on iOS and Android devices and is super user-friendly.<\/li>\n
  • Satisfaction guarantee.<\/strong> If you aren't satisfied with your transfer, Remitly will refund your fees.<\/li>\n
  • 24\/7 customer support.<\/strong> You can reach Remitly's customer support team by phone or live chat 24\/7.<\/li>\n
  • Discounts for new customers.<\/strong> Remitly offers a promotional first-transfer deal that can vary by country and customer. We tested this out by initiating a transfer from Canada to India and were offered no transfer fees and a discounted exchange rate on the first $2,000 sent. The promotional exchange rate was 1 CAD = 71.06 INR, when the normal rate was 1 CAD = 69.80 INR at the time.<\/li>\n <\/ul>\n <\/div>\n \n
    \n

    Cons<\/h4>\n
      \n
    • No additional features.<\/strong> Remitly is designed for one-time international transfers and doesn't offer features like limit orders, recurring FX execution or hedging tools to lock in exchange rates ahead of time.<\/li>\n
    • Inconsistent exchange rate margins.<\/strong> Exchange rates differ depending on the destination country, funding method and delivery speed, so you have to check all your options before finalizing your transfer.<\/li>\n
    • Longer processing time for bank transfers.<\/strong> When funding a transfer via bank account, it can take 3 to 6 days before your recipient receives their funds.<\/li>\n <\/ul>\n <\/div>\n <\/div>\n

      Alternatives<\/h3>