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Remitly vs. Ria

Both specialize in small remittances, but which one will get you a better deal?

Updated

Fact checked

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.

Min. Transfer Amount Transfer Speed Online Transfer Fee Rate Amount Received Description CTA Details
$1 Same day USD 5.00 20.667 MXN 20,564 No fees for bank account transfers and cash pickup at 240,000 locations in 130+ countries. Go to site Show details
$0 1 - 2 days USD 1.99 20.667 MXN 20,626 Special offers like free transfers and better exchange rates available for new customers.
Quick, affordable transfers around the world with both express and economy options.
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.

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.

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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
RemitlyRia
Transfer fee$5$0
Exchange rate1 USD = 51.426 PHP1 USD = 50.906 PHP
Transfer speed3–5 days3–5 days
Total Philippine pesos receivedPHP51,168.87PHP50,906
Receiver getsPHP262.97 morePHP262.87 less
Sending $500 to India
RemitlyRia
Transfer fee$5$0
Exchange rate1 USD = 69.001 INR1 USD = 68.304 INR
Transfer speed3–5 days3–5 days
Total Mexican pesos receivedINR34,155.50INR₹34,152
Receiver getsINR₹3.50 moreINR₹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%.

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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.

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Winner: Tie

Both services have faster options that cost more, and both have slower options that take a similar time.

General features

Payment methodsReceiving optionsMax and minTransfer speedsCurrencies
RemitlyBank transfer, debit card, credit cardBank account, cash pickupMinimum: $10

Maximum: $20,000

3–5 days

Faster transfers available for a higher fee

30+ currencies
RiaBank transfer, credit card, debit card, cashBank account, cash pickup, door deliveryMinimum: $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?

If Remitly or Ria don’t seem like the right providers for you, you can compare other services below using our calculator to ensure you make the best decision.

Min. Transfer Amount Transfer Speed Online Transfer Fee Rate Amount Received Description CTA Details
GBP 1,000 1 - 2 days USD 0.00 0.836 EUR 4,178 Exclusive: Minimum transfer of $1,000 for Finder readers (normally $5,000).
For larger transfers, get no transaction fees and no maximum send limits.
Go to site Show details
$1 Same day USD 0.00 0.84 EUR 4,202 XE offers fast transfers with no fees and a range of foreign currency tools. Go to site Show details
$0 1 - 2 days USD 1.99 0.827 EUR 4,135 Special offers like free transfers and better exchange rates available for new customers.
Quick, affordable transfers around the world with both express and economy options.
Go to site Show details
$1 1 - 2 days USD 40.00 0.844 EUR
4,187
Enjoy high maximum transfers into more than 20 currencies while saving up to 90% over local banks. Go to site Show details
$1 Within an hour USD 3.99 0.841 EUR 4,200 Use promo code 3FREE to send your first 3 transfers with no fee. Send to 110+ countries for bank-to-bank deposit, cash pickup or mobile top-up. Go to site Show details
$50 1 - 2 days USD 0.00 0.839 EUR 4,195 InstaReM offers quick and simple international money transfers with the ability to earn loyalty points. 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.

Image source: Supplied, Photographer: Ria, Remitly

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