Review: Remitly international money transfers – November 2020

Quick, affordable transfers to the Philippines and beyond.


Fact checked
This product is not currently available via Finder. Visit the provider's website directly, or compare other options.

Quick verdict

Good for
  • Fast transfers, especially emergency ones
  • Smaller transfers
  • Sending money without ID verification
  • Cash pick-up
  • Paying by card
Not so great for
  • Not available in New Zealand
  • Sending money to popular countries like Thailand or China
  • Any extras like forward contracts, limit orders or regular payments
  • Larger transfers

Remitly is not available in New Zealand

Unfortunately, Remitly does not currently let you send from New Zealand.

Remitly exchange rates and fees

Remitly updates its exchange rates daily to align with global markets, locking in the exchange rate you see at the beginning of your transaction. Some countries may have a weaker exchange rate than those of competitors.

Remitly charges no extra fees unless you’re sending through their express service or via credit card. At the time of writing it’s a $3.99 flat fee for this, but there’s a 1% surcharge added if you’re using a credit card.

Available currencies

Remitly offers money transfers to over 30 different currencies. Some of the more popular include:

  • HUF Hungarian forint
  • INR Indian rupee
  • KES Kenyan shilling
  • MAD Moroccan dirham
  • PHP Philippine peso
  • PKR Pakistani rupee
  • USD United States dollar
  • VND Vietnamese dong

Remitly is planning to launch transfers to a number of countries soon, including Thailand and Hong Kong.

What types of transfers can you make with Remitly?

While Remitly does let you transfer to a cash pick-up location, it doesn’t have forward contracts, limit orders or regular payments. Forward contracts let you lock in an exchange rate now for a future transaction. With a limit order you can set the exchange rate you want and the trade will automatically go through when that rate is reached.

How long does a transfer with Remitly take?

Remitly offers two ways to send – express or economy.

  • Express may cost extra but it can deliver your money to your recipient in minutes.
  • Economy generally takes three to five business days to arrive.

Transfers typically takeClock icon for transfer speed

3 – 5 days

What payment methods does Remitly accept?

You can pay for your transfer using:

  • Bank transfer
  • Debit card
  • Credit card

Paying by card will get your money there faster, but you’ll pay an extra 1% surcharge.

How much can I send with Remitly?

With Remitly, how much you can send depends on the tier you’re approved for. To move up to a tier with higher sending limits, you’ll need to provide more personal information and identity documents.

  • Tier 1. Send up to $2,999 daily, $10,000 monthly and $18,000 every six months.
  • Tier 2. Send up to $6,000 daily, $20,000 monthly and $36,000 every six months.
  • Tier 3. Send up to $18,000 daily, $36,000 monthly and $60,000 every six months.

Is Remitly safe to use?

  • Security and regulation: Remitly is government regulated and keeps its customers’ funds separate from its own. Although Remitly doesn’t have 2-factor authentication, the server connection is secured using 256-bit SSL.
  • Established: 2011.
  • Reviews: Trustpilot gives Remitly a score of 9.3* out of 10, based on about 11,500 reviews.
  • Investors: PayU, Stripes Group, Bezos Expeditions, Silicon Valley Bank.
*According to Trustpilot on 17 October 2018.

Remitly does not have a presence in New Zealand, so it is not regulated here. However, Remitly is regulated in Australia by ASIC (the Australian Securities and Investments Commission). Part of this regulation means Remitly has to keep its customers’ funds separate from its own in case it runs into any financial problems.

Remitly also says it has a number of risk management procedures in place that help show any suspicious account activity if you’ve been hacked.

How does Remitly make money?

Remitly only charges a fee for its express transfers so makes the rest of its money from the margin. The margin is the difference between the rate you’re quoted by Remitly and the live mid-market rate you can see on Google or XE.

Money transfer providers often include a margin on the exchange rate to cover their costs. When comparing providers, keep an eye on both the fees they charge and their exchange rate.

How to register and send your first transfer

Signing up for an account with Remitly is simple and free. The following steps can help guide you through the process.

What is Remitly’s background?

Remitly was founded in 2011 by Matt Oppenheimer to disrupt the remittance industry. It aims to lessen fees and create greater transparency and has a focus on being easy to use on your mobile. Remitly is based in Seattle in the United States and chiefly services those sending transfers out of the US, Australia, the UK and Canada.

In a nutshell

  • Instant transfers. If you pay through card, your money can be transferred in minutes with the express service.
  • On-time guarantee. Remitly offers a money-back guarantee if your transfer doesn’t arrive on time.
  • Fast registration time. You’re able to register an account and send a transfer in minutes. For transfers smaller than $2,999 you don’t need to provide any proof of identity or address, such as a passport. However, Remitly will ask for your date of birth, address and full name.
  • Cash pick-up. You can send cash to a range of pick-up locations. This isn’t available in every country, however.
  • Limited currencies. Remitly doesn’t currently offer as many currencies as other providers.
  • Low maximum daily limits. Especially for the lower tiers.
  • Higher fees for expedited service. Credit card transactions and transfers to certain countries can be expensive.
Back to top

How does Remitly compare to other providers?

Our table below shows you the exchange rate and fees for other money transfer specialists.

Min. Transfer Amount Transfer Speed Online Transfer Fee Rate Amount Received Description CTA Details
GBP 2,500 Same day NZD 0.00 0.694 USD
Central FX’s dedicated private client team will guide you through the money transfer process from first call to final payment. Go to site Show details
NZD 250 1 day NZD 0.00 0.694 USD
SendFX guarantees to match any competitor's exchange rate. T&Cs apply.
Fee-free transfers in 30+ currencies to over 200 countries.
Go to site Show details
NZD 0 Same day NZD 0.00 0.693 USD
Send money in more than 60 currencies. Fee-free international money transfers with a global brand. Go to site Show details
NZD 2,000 2 days NZD 0.00 0.694 USD
Exclusive offer: $0 transfer fee and discounted exchange rates for all Finder customers.
A higher exchange rate applies to non-finder customers. Send money in more than 60 currencies.
Go to site Show details
NZD 250 1 day NZD 0.00 0.694 USD
TorFX guarantee to beat any competitor's exchange rate for a transaction. Conditions apply. Go to site Show details
NZD 1 Within an hour NZD 3.99 0.693 USD
Use promo code 3FREE to send your first 3 transfers with no fee. 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
AUD 250 1 - 2 days NZD 15.00 0.694 USD
A higher exchange rate applies to non-finder customers. Send money in 45 currencies. No fee if you transfer over AUD$10,000. Go to site Show details
NZD 1 1 - 2 days NZD 80.00 0.697 USD
Make online transfers with transparent exchange rates, low fees and low minimum amounts. Go to site Show details
NZD 5 1 - 2 days EUR 3.00 0.691 USD
Special offer: Zero fees on your first 10 transfers.
Get bank-beating exchange rates and fast transfer times on 15+ popular currencies.
Go to site Show details
NZD 10,000 1 - 2 days NZD 0.00 0.691 USD
Shop around for the best exchange rate on CurrencyTransfer's online marketplace. Go to site Show details

Compare up to 4 providers

Disclaimer: Exchange rates change often. Confirm the total cost with the provider before transferring money.


Back to top

More guides on Finder

Ask an Expert

You are about to post a question on

  • Do not enter personal information (eg. surname, phone number, bank details) as your question will be made public
  • is a financial comparison and information service, not a bank or product provider
  • We cannot provide you with personal advice or recommendations
  • Your answer might already be waiting – check previous questions below to see if yours has already been asked provides guides and information on a range of products and services. Because our content is not financial advice, we suggest talking with a professional before you make any decision.

By submitting your comment or question, you agree to our Privacy and Cookies Policy and Terms of Use, Disclaimer & Privacy Policy.

Questions and responses on are not provided, paid for or otherwise endorsed by any bank or brand. These banks and brands are not responsible for ensuring that comments are answered or accurate.
Go to site