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Customer Service | Phone, Live chat |
Pay By | Credit card, Debit card, Bank transfer |
Receiving Options | Cash pickup location, Bank account, Mobile wallet, Home delivery |
Remitly is a solid option if you need to send money to one of the 100 countries it operates in and you can choose express delivery if your transfer is urgent. Your recipient also doesn’t need to have a bank account as cash pickups, mobile wallets and home delivery are available in some countries alongside bank transfers. Another big plus to Remitly is its delivery promise – if your transfer doesn’t arrive on time, your fees will be returned.
But there are low maximum limits to how much you can send and there aren’t any forex tools to help your money go further. Remitly’s exchange rates are also inconsistent with the markup varying depending on the country and the delivery speed.
Remitly’s fees and exchange rates vary based on sending destination but typically depend on the following:
Remitly’s fees can vary based on the country you send from and to. For example, here are the fees charged by Remitly while sending from the US to the Philippines when we checked on February 15, 2022.
Economy: no fee
Express: $3.99 when sending less than $500
Remitly updates its exchange rates daily to align with exchange rates on global markets, loving in the exchange rate you see at the beginning of your transactions.
For some countries, you’ll find weaker exchange rates than those of competitors. It’s best to compare the displayed rate on Remitly with the current interbank rate to calculate the size of the margin charged. You can then use this as a benchmark for comparing the rates of other money transfer providers.
Check if there are any Remitly promo codes available
Every new customer gets a special offer on their first transfer with Remitly. This is typically a stronger exchange rate and lower fees for a portion of your first transfer. Even if you aren’t considering using Remitly consistently over time, you could potentially save yourself some money by taking advantage of its new customer promotion to make a one-off transfer.
Remitly offers a wide range of delivery options that are dependent on your sending destination. Delivery methods include:
You can send money quickly from your computer or the Remitly app by completing the following steps.
You can only make on-off transfers with Remitly, and you can pay using the following methods:
Transfer speeds will depend on the amount of fees you are comfortable paying and how quickly you need it to arrive.
Express – as little as a few minutes
If you pay for your transfer with a credit or debit card and select the Express option, your transfer could arrive in as little as a few minutes. However, you will pay a higher fee and your credit card provider could also charge you a cash advance fee, further increasing the cost of your total transfer.
Economy – Up to five business days
Remitly’s Economy option is the cheaper of the two options. Transfers through Economy will be slower, but you’ll almost always get a better exchange rate and fewer fees than with Express.
Transfers typically take
Remitly’s transfer limits are based on the tier you’re approved for. To progress through Remitly’s tiers to higher maximums, you will need to provide more personal information and an ID:
Please see the table below for what additional information is required to be approved for the higher tiers:
Information needed | Tier 1 | Tier 2 | Tier 3 |
---|---|---|---|
Full name | X | X | X |
Residential address | X | X | X |
Date of birth | X | X | X |
Last 4 digits of SSN | X | X | X |
Full SSN | X | X | |
Government-issued photo ID | X | X | |
Additional information on source of funds | X | X | |
Additional information at request | X |
Remitly safeguards your money in a variety of ways, including:
If you want to see how Remitly compares to the exchange rates and fees offered by other money transfer services, enter the details of your transaction into the table below.
8 Comments
September 9, 2019
If I send money to myself in Mexico, what address shoud I use? The one listed on my US ID?
September 11, 2019
Hi John,
Thanks for reaching out to Finder.
If you are referring to what address you should use for the recipient’s address, you need to add your Mexican address on the recipient information.
You will also need to provide your phone number in Mexico and your name should match the name that appears on your ID.
I hope this helps.
Cheers,
Charisse
August 15, 2019
Don’t EVER use this company. They are a joke. I’ve been on the phone with customer service for HOURS this morning. I sent TWO payments yesterday to the same person. One went through and one did not. The bank came back and said that the name I provided doesn’t match the account which is a bunch of bullshit because I’ve been paying this person for months with the same information and the same account. One person went back to the bank and said they corrected it but they did not so I called back for a FOURTH time. This person is just lazy and refuses to contact the bank and get the problem resolved. They also refuse to refund my money. Completely unbelievable. DO NOT USE EVER!
August 16, 2019
Hi D Spencer,
Thanks for reaching out to Finder and thank you for providing your feedback and letting us know about this issue. I’m sorry to hear that their service did not satisfy your expectations. Our team will take note of this feedback. If you still have an unresolved complaint regarding Remitly’s money transmission or currency exchange activity, please direct your complaint to the consumer assistance division of Remitly. Please visit their website to get the assistance division phone number.
Kind Regards,
Faye
March 18, 2019
I have question. If someone send me money then I lose the money, who I can ask about this problem?
March 19, 2019
Hi Barzan,
Thanks for getting in touch! For cases where the money you transferred is lost – contact your money transfer provider to report the case and they will be able to assist/guide you on the next steps. When sending money – it’s important to check the exchange rate beforehand to maximize the funds to be exchanged. Also, read through the transfer process of the provider such as transfer fees, transfer options and transfer speed to set expectations for the receiver. Take note of any reference or tracking numbers should any transaction delays/issues come up during transit. Hope this helps and feel free to email back if you have questions.
Best,
Nikki
January 16, 2019
If I send money to Colombia where can they pick up the money?
January 20, 2019
Hi Camila,
Thank you for getting in touch with finder.
You may find Remitly’s cash pickup partners in Colombia by going to their official page. Some of their cash pickup parters are Carulla, Super Inter, BBVA and Exito.
I hope this helps.
Thank you and have a wonderful day!
Cheers,
Jeni