Sign up & start saving!
Get our weekly newsletter for the latest in money news, credit card offers + more ways to save
Finder is committed to editorial independence. While we receive compensation when you click links to partners, they do not influence our content.
Remitly vs. Ria
Both specialize in small remittances, but which one will get you a better deal?
Guides
Exchange Rates
Which international money transfer service offers the lowest fees, highest exchange rates and fastest transfers? We put Remitly and Ria to the test to help you decide which provider is right for you.
The fees and rates used in this comparison are accurate as of April 22, 2019.
Which has lower fees?
Remitly
Fees can vary anywhere from $0 to $99.99, depending on the currency, country, how much you’re transferring and how you’re sending it.
In most cases, you’ll pay $3.99 for transfers under $1,000. For transfers over $1,000, there’s usually no fee. But sending to certain countries can cost significantly more, and you’ll generally pay a 3% fee if you use a credit card.
Ria
Similar to Remitly, fees change from currency to currency and also depend on the payment method. Credit card payments have higher fees, while direct bank payments have the lowest fees. The fees start from around $0 to $45.
Winner: Tie
Both providers offer such different fees depending on multiple variables. While the fees offered by Ria don’t go as high as the Remitly fees, Ria doesn’t let you transfer more than $2,999. Remitly allows you to transfer up to $20,000 and the higher fees are often for higher transfer amounts.
Let’s crunch the numbers: Sending $1,000 to Philippines and Mexico
Let’s do an international money transfer to put the two providers to the test. We’ll test two currencies, to see what the differences are.
Sending $1,000 to the Philippines
| Remitly | Ria | |
|---|---|---|
| Transfer fee | $5 | $0 |
| Exchange rate | 1 USD = 51.426 PHP | 1 USD = 50.906 PHP |
| Transfer speed | 3–5 days | 3–5 days |
| Total Philippine pesos received | PHP₱51,168.87 | PHP₱50,906 |
| Receiver gets | PHP₱262.97 more | PHP₱262.87 less |
Sending $500 to India
| Remitly | Ria | |
|---|---|---|
| Transfer fee | $5 | $0 |
| Exchange rate | 1 USD = 69.001 INR | 1 USD = 68.304 INR |
| Transfer speed | 3–5 days | 3–5 days |
| Total Mexican pesos received | INR₹34,155.50 | INR₹34,152 |
| Receiver gets | INR₹3.50 more | INR₹3.50 less |
Remitly offers a noticeably better deal when exchanging Philippine pesos, though the two are nearly identical when sending a smaller amount to India. To get the best deal, you’ll need to check the specific fees and exchange rates associated with your transfer.
Which offers better exchange rates?
Remitly
Remitly adds a margin to its exchange rates, but there isn’t a standard rule. It varies currency to currency.
For example, if you want to send money to Honduras:
- Mid-market rate: 1 USD = 24.440 HNL
- Remitly’s exchange rate: 1 USD = 24.192 HNL
Making it a margin of 1.0%.
Ria
Ria also adds a margin to the exchange rate, which can be anywhere from 0.3% and 4%.
For example, if you want to send money to Brazil:
- Mid-market rate: 1 USD = 24.440 HNL
- Ria’s exchange rate: 1 USD = 23.947 HNL
Making it a margin of 2.1%.
Winner: Tie
Again, both Remitly and Ria have a similar system. They both add a margin to the exchange rates, but it varies depending on the currency. Sometimes Remitly offers a better rate, sometimes Ria does.
Which is faster?
Remitly
Remitly offers two transfer options: economy or express. Express gets your transfer there on the same day, often quite quickly, but you pay a higher fee. Economy typically takes three to five business days but it’s cheaper.
Ria
If you pay by card, Ria transfers are done within minutes. However, it’s more expensive to pay by card. If you do a bank transfer, the cheaper option, it can take up to five days.
Winner: Tie
Both services have faster options that cost more, and both have slower options that take a similar time.
General features
| Payment methods | Receiving options | Max and min | Transfer speeds | Currencies | |
|---|---|---|---|---|---|
| Remitly | Bank transfer, debit card, credit card | Bank account, cash pickup | Minimum: $10 Maximum: $20,000 | 3–5 days Faster transfers available for a higher fee | 30+ currencies |
| Ria | Bank transfer, credit card, debit card, cash | Bank account, cash pickup, door delivery | Minimum: $1 Maximum: $2,999 | 3–5 days Faster transfers available for a higher fee | 95+ currencies |
Remitly
To use Remitly, you sign up for a free account on its website or app. Once you’ve signed up, you just enter the amount you want to send, your recipient’s details and your payment information. Remitly then sends the converted money where it needs to go.
Ria
Fill out the details of the receiver, add your payment info, select how you would like the recipient to get the money and then hit send. Ria will convert and transfer the money.
Bottom line
Remitly and Ria are very similar services and are structured the same way, charging varied fees and a margin on the exchange rate. Remitly often beats out Ria slightly, but it depends on the currency.
To get the best deal, compare other transfer providers against Remitly and Ria to find the one that fits your needs.
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.
{"niche":"USFMT"}
More guides on Finder
-
Paysend review
Paysend offers transfers to more than 70 countries through its app and online service.
-
HSBC Global Money account review
Manage your international finances with free transfers to HSBC customers.
-
How do international money orders work?
Using international money orders to send money overseas? Learn about better options.
-
Charles Schwab vs. TD Ameritrade
Pros and cons to consider before opening an account with either of these brokerages.
-
TD Ameritrade vs. Vanguard
Features, fees and investor feedback to consider for these two platforms.
-
Fidelity vs. TD Ameritrade
Pros, cons and platform features that separate these online brokerages.
-
Reseña de Remitly: Transferencias de dinero
Lee nuestra reseña de Remitly para descubrir por qué esta opción rápida y competitiva podrÃa ser ideal para tu próxima transferencia internacional de dinero.
-
Fidelity vs. Vanguard
Compare features, feedback and research tools for these two platforms.
-
How do we pick the top money transfer services?
Our top picks are our selection of the best money transfer services, based on our extensive research and market experience. Here’s how we choose them.
-
Shopify vs. Etsy: Costs and features compared
We compare Shopify and Etsy to find out which e-commerce platform has the lowest fees and the best features for online merchants.
Ask an Expert