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Remitly international money transfers review
Quick, easy money transfers with competitive exchange rates.
Speed: 2.0 / 5.0
Services: 2.0 / 5.0
User experience: 3.0 / 5.0
Remitly has recently expanded the number of countries you can send money to. While you have daily and monthly limits on how much you can send, with its On-Time promise, you’ll get your money back if your recipient doesn’t receive the funds on time.
$10
Min. Transfer Amount
$20,000
Max. Transfer Amount
3 - 5 days
Transfer Speed
Details
| Product Name | Remitly |
|---|---|
| Min. Transfer Amount | $10 |
| Max. Transfer Amount | $20,000 |
| Transfer Methods | Online, Bank Account to Bank Account, Cash Transfer |
| Transfer Speed Minimum transfer time | 3 - 5 days |
| Customer Service | Phone, Chat, Email |
| Available Currencies | ARS, BDT, BGN, BOB, BRL, CLP, COP, CRC, CZK, DOP, ETB, GHS, GTQ, HNL, HRK, HTG, HUF, IDR, INR, KES, LKR, MAD, MXN, MYR, NGN, NIO, NPR, PAB, PEN, PHP, PKR, PLN, PYG, RON, RWF, THB, TND, TRY, USD, UYU, VND, XOF, ZAR |
| Exchange Rate Updates | Daily |
|---|
Remitly is best for:
- Small transfers. New users can send up to $999 daily.
- Transfers to Mexico or other countries in South America or Asia.
- Fast transfers. Send money in minutes with a debit card or credit card.
How much does Remitly cost?
Fees vary depending on where you’re sending money, how much you’re sending and how you’re paying. If you’re paying with a credit card, you’ll typically pay a 3% fee on your transaction, unless you’re sending from the UK, which has no additional cost. Debit card transactions come at no extra fee. In most cases, you’ll pay $3.99 for transactions of $1,000 or less. For transfers over $1,000, there’s usually no fee.
For example, if you’re sending money to Mexico, you’ll pay nothing for transactions of more than $500. Transactions of $150 to $499 typically cost $3.99, while transactions of $10 to $149 cost $4.99.
However, sending money to some countries can be more costly. For example, when sending money to Honduras or Peru, the price will increase by $10 for every $100 for transfers exceeding $2,000. These fees don’t apply to all countries, so be sure to confirm the fee you’ll pay before completing your transfer.
- Check if there are any Remitly promo codes available
How are Remitly’s exchange rates?
Remitly updates its exchange rates daily to align with exchange rates on global markets, locking in the exchange rate you see at the beginning of your transaction.
For some countries, you’ll find weaker exchange rates than those of competitors.
Calculate your transfer with Remitly
Choose your currency and desired transfer amount (maximum $20,000). Exchange rates change frequently, so visit Remitly’s site to get a final quote.
What types of transfers does Remitly support?
You can only make one-off transfers with Remitly. This provider supports international money transfers made from your laptop or mobile device. Money can be deposited to a bank account, delivered to a mobile wallet like Google wallet or made available for cash pickup.
You can pay for a transfer with your:
- Debit or credit card. Funds are sometimes available in minutes, but can be subject to a 3% fee if using a credit card.
- Bank account. Typical transfer speeds are three to five days, but these can also be subject to delays from bank holidays. Its express transfers — paid by debit card or credit card — can arrive in minutes. And you have the option to pay a higher transfer fee for express service.
How much can I send with Remitly?
Send money via bank-to-bank, cash pickup or mobile wallet transfer.
With Remitly, how much you can send depends on the tier you’re approved for. New users can send up to $999 daily, $2,999 weekly, $6,000 monthly and $18,000 every six months by default.
Residents of Arizona: If you live in Arizona, your state has its own rules for transactions of $1,000 or more. You’ll need to contact Remitly for details.
To graduate up through Remitly’s tiers to higher maximums, you simply need to provide more personal information and an ID:
- 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 $20,000 daily, $30,000 monthly, and $60,000 every six months.
- Custom tier. You can speak with a representative to discuss custom sending limits, depending on your needs.
Pros and cons of Remitly
Pros
- It’s fast. Send money in minutes from your computer or mobile device.
- Offers cash pickup. Send to more than 10,000 agent locations. While Remitly offers cash pickups, this option isn’t available in all countries it services.
- Receive text updates. Track your transfer’s progress with updates to your phone.
- Secure website. SSL with 256-bit encryption keeps your money safe.
Cons
- Low maximum daily limits. Especially for lower tiers.
- Higher fees for expedited service. Credit card transactions and transfers to certain countries can be expensive.
- Requires government-issued ID. Higher-tier requirements could deter those without an ID.
How do I send money through Remitly?
Send money quickly from your computer or mobile device with these steps:
- Log in or create an account. Register with an email address, your personal information, your date of birth and the last four digits of your Social Security number or your Individual Taxpayer Identification Number.
- Send money. Choose your recipient’s country and enter how much you’re sending.
- Enter recipient’s information. Provide your recipient’s name and contact information, including their mobile phone number. If you’re sending a bank deposit, also enter your recipient’s banking details.
- Choose your payment method. Pay with your bank account, credit card or debit card.
- Confirm your transaction.
- Click “Send Money” to complete your transfer.
- Check your mobile phone. Remitly will send text updates on your transaction to your phone.
How does Remitly compare to other services?
Bottom line
Remitly is a quick, secure way to send money internationally. Cash pickup is available, or you can choose to pay an express transfer fee with a credit or debit card so your transfer is ready in minutes.
If you’re sending money to recipients outside of the more then 40 countries Remitly services, be sure to compare the fees, rates and transfer speeds of other money transfer specialists.