We update our data regularly, but information can change between updates. Confirm details with the provider you're interested in before making a decision.
The Remitly fee structure is varied. Fees change depending on whether you do an economy or express transfer, what currency you’re transferring and how much you’re transferring.
Express transfers have higher fees, which tend to get higher the more you send. Slower economy transfers often stay quite low, around $2 to $4 no matter how much you send.
PayPal
PayPal charges 5% of your send amount, with a minimum fee of $0.99 and a maximum fee of $4.99.
But if you pay with a credit card, debit card or PayPal credit, you’ll be charged an addition 2.9%, plus a small fee based on the destination currency.
Winner: Tie
There isn’t a clear winner as it depends on where and how much you’re sending. While some transfers will be cheaper with PayPal, other will have lower fees with Remitly.
Let’s crunch the numbers: Sending $1,000 to the Philippines
Let’s compare a $1,000 transaction to see which provider wins out when fees and exchange rates are taken into consideration.
Sending $1,000 to the Philippines
Remitly
PayPal
Transfer fee
$0
$4.99
Exchange rate
1 USD = 50.58 PHP
1 USD =49.7517 PHP
Transfer speed
Same day
Same day
Total Philippine Peso received
PHP₱50,580.00
PHP₱49,503.44
Receiver gets
PHP₱1,076.54 more
PHP₱1,076.54 less
Remitly saves you money in the end, as both the fee and exchange rate are better. Remitly charges a lower fee, and its Philippine peso exchange rate is better than PayPal’s.
Which offers better exchange rates?
Remitly
Remitly doesn’t have a standard rate rule, meaning the exchange rates they offer vary greatly and change daily. There’s a margin added to most exchange rates, but that margin varies from currency to currency.
For example, if you want to send money to Thailand:
Mid-market rate: 1 USD = 30.7275 THB
Remitly’s exchange rate: 1 USD= 29.89 THB
This is a margin of 2.7%.
PayPal
PayPal’s exchange rates also include a margin. While it can also vary based on the currency, on average PayPal has a higher markup.
For example, if you want to send money to Thailand with PayPal:
Mid-market rate: 1 USD = 30.7275 THB
PayPal’s exchange rate: 1 USD = 29.6451 THB
This is a margin of 3.5%
The mid-market rate is what your money’s actually worth on the global market when compared to another currency. It’s what banks and transfer services use when they trade among themselves, and it’s what you should use as a baseline to ensure you’re getting the best rate.
Compare the rate given to you by a transfer service to the mid-market rate and you’ll be able to see what the markup is and how much the provider is making off that transfer.
Winner: Remitly
While Remitly’s exchange rates vary based on the currency, the margin is lower than PayPal’s overall. It’s always worthwhile comparing based on the currency you’re transferring, but it’s likely Remitly will net you a better rate.
Which is faster?
Remitly
Remitly offers an express option that will get your money to the destination within hours, if not minutes. However, it does mean you’ll pay higher fees. If you opt for the cheaper economy option, you’re looking at a transfer time of two to five business days.
PayPal
If you transfer from one PayPal account to another, the transaction is instant. For all other transactions, it generally takes one business day.
Winner: Tie
Between the express option Remitly offers and PayPal’s quick turnaround, it’s hard to pick a winner. Both can get your money there fast – you’ll just have to be willing to pay a higher fee and/or exchange rate.
General features
Payment methods
Receiving options
Maximum and minimum transfers
Transfer speeds
Currencies
Remitly
Bank transfer, debit card, credit card
Bank account, cash pickup
Minimum: $10
Maximum: $20,000
Within minutes
30+ currencies
PayPal
Bank transfer, debit card, credit card, PayPal Credit
PayPal transfer, bank transfer
Minimum: $1
Maximum: $10,000
3 days
20+ currencies
Remitly
To use Remitly, you sign up for a free account using your email on the website or app. Once you’ve signed up, just enter the amount of money you want to send, your recipient’s information and your payment information. Remitly will do the rest.
PayPal
To transfer money through PayPal, you’ll need to create a free PayPal account. You can then send a transfer to your recipient’s PayPal account, funding it with your PayPal balance, bank account, credit card, debit card or PayPal Credit. After your recipient receives the money, they can either keep the funds in their PayPal account or withdraw the money to their bank account.
Although it’s completely dependent on the transfer amount, Remitly is likely to beat PayPal on most transfers. But the two providers offer different currencies, and your currency may not be available on both. To get the best deal, compare other money transfer providers that send in your currency.
Looking for more options?
Our table lets you compare the services you can use to send money abroad. Compare services on transfer speeds and fees, then click Go to site when you're ready to send.
We update our data regularly, but information can change between updates. Confirm details with the provider you're interested in before making a decision.
