Remitly vs Wise (TransferWise)

We take a look at two money transfer services to see which one will get your money there cheaper and faster.

By

Isabel Sandercock-Brown

Updated

Fact checked
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When deciding on an international money transfer service, you want to compare fees and exchanges rates as well as features to ensure you’re choosing the provider that works best for you. We compare providers Remitly and Wise side by side to give you all the facts before you commit.

Remitly and Wise at a glance

Remitly - UK logoWise logo
Overall rating★★★★★★★★★★
Arrange transfers online
Arrange transfers through app
Arrange transfers by phone
Founded20112011
BasedSeattle, USLondon, UK
FCA reference728639900507
LinkGo to siteGo to site

Compare Remitly to Wise

2 of 2 results
Updated regularly
Finder Score Filter values Pay by Receiving options Fastest transfer Fee (pay by bank transfer) Key benefits
Wise logo
8.7Great
Wise (TransferWise)
8.7Great
Credit card, Debit card, Bank transfer
Bank account, Alipay (China only)
Within minutes
From 0.41%
Refer 3 friends to receive up to £50 referral bonus
Go to site View details
Remitly - UK logo
7.5Great
Remitly
7.5Great
Credit card, Debit card, Bank transfer
Cash pickup location, Bank account, Mobile wallet, Home delivery
Within minutes
From £0
Go to site View details
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Finder Score for international money transfer services

To make comparing even easier we came up with the Finder Score. Fees, features and customer service across the most popular international money transfer services are all weighted and scaled to produce a score out of 10. The higher the score the better the service – simple.

Read the full methodology

Which has lower fees?

The Remitly fee structure is varied. Fees change depending on whether you do an “economy” or “express” transfer, plus 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 £1 to £3 no matter how much you send.

Wise charges 2 fees – a percentage of the transfer and a small flat fee that’s normally only a few pounds. The percentage fee depends on the currencies involved, and can make the fee add up on larger transfers.

Trophy iconWinner: Remitly

Although it’s a close call, Remitly’s transfers tend to be cheaper across the board, especially for economy transfers. This doesn’t necessarily mean your transfer will be cheaper with Remitly – each provider offers different exchange rates, which we’ll go into below.

Let’s crunch the numbers: Sending £10,000 to the Philippines

Let’s put both providers to the test. We’ll look at sending £10,000 to the Philippines to see whether Remitly or Wise gives you a better deal.
For the purpose of this comparison, we’ll look at sending the money via an economy transfer with Remitly.

Remitly £10,000Wise £10,000
FeeFree for first transfer, then £1.99£53.25
Exchange rate1 GBP = 84.12 PHP for first £1,000, then 81.93 PHP for rest of transfer1 GBP = 82.75 PHP
Transfer speed1 to 3 day business daysTypically 1 to 5 business days
Amount receivedPHP 821,490PHP 823,136.33

It’s close, however, Wise wins this one as its Philippine peso exchange rate is better overall than the rate Remitly offers you. Remitly only offers a better exchange rate for the first £1,000 as a welcome offer. Wise has a higher fee, but it still works out cheaper.

Which offers better exchange rates?

Remitly doesn’t have a standard rate rule, meaning its exchange rates can vary a lot. The margin normally ends up being 0.5% to 3% added to the exchange rate. For example, these were the rates for a transfer to Albania (29 September 2026):

  • Mid-market rate: 1 GBP = 107.43 ALL
  • Remitly’s exchange rate: 1 GBP = 104.66 ALL

This is a margin of 2.58%.

Wise, meanwhile, converts money at the mid-market rate, meaning it never adds an additional margin on top. This means that, using the same example, if the mid-market rate is 1 GBP = 107.43 ALL, that’s the rate you’ll get.

Trophy iconWinner: Wise

Both Wise and Remitly offer competitive exchange rates, but Remitly adds a markup to the exchange rate above the standard mid-market rate. Remitly’s exchange rates vary currency to currency while Wise lets you locks specific rates 2 – 48 hours depending on the currency.

Remitly often offers deals for first-time users with exchange rates that are slightly better than the mid-market rate, so it’s good to keep an eye out for that. In general, however, Wise has the best exchange rates. That won’t necessarily mean it’s best overall – fees have to be considered too.

Coverage and payout

Remitly - UK logoWise logo
Coverage rating★★★★★★★★★★
Number of available currencies130
(including: EUR, USD, CNY, INR, PHP, PKR, ZAR) 		52
(including: EUR, USD, CNY, INR, PHP, PKR, ZAR)
Number of supported countries103222
Cash pick-up facility
Speed rating★★★★★★★★★★
Fastest transfer speedWithin minutesWithin minutes
LinkGo to siteGo to site

Which is faster?

Remitly offers 2 transfer options: economy or express. Express gets your transfer there on the same day, often in a matter of minutes, but you pay a higher fee. Economy transfers take between 1 and 5 business days.

The speed of Wise transfers depends heavily on the currency and payment method. Some transfers arrive within seconds, while some routes or standard bank transfers can take up to 2 working days, or longer if using SWIFT/wire funding.

Trophy iconWinner: Tie

There isn’t a clear winner as there are too many variables. Both services can get your money there within hours, depending on the payment method and the fees you’re willing to pay.

Payment methods

Remitly - UK logoWise logo
Bank transfer
Debit card
Credit card
LinkGo to siteGo to site

Forex features

Remitly - UK logoWise logo
Facilities rating★★★★★★★★★★
Recurring transfer facility
Forward contracts facility
Limit orders facility
Stop loss orders facility
Customer servicePhone, Live chatPhone, Live chat, Email
Personal account manager
Price matching facility
LinkGo to siteGo to site

The verdict: Which is better: Remitly or Wise?

Remitly and Wise are both impressive services that can help you undercut the rates and fees from your bank. They’re neck and neck in several categories, but we think Wise has the overall edge.

Wise wins out when it comes to exchange rates while Remitly has slightly lower fees. Ultimately it’s always worth checking quotes from both providers, and depending on the currency, the fees and the amount, you may want to use either.

Remitly offers some more exotic currencies, but overall Wise has the greater selection.

Trophy iconWinner: Wise

Check out more Wise alternatives

Our “Best for” picks highlight top options in specific categories based on our independent evaluation (see our full methodology), while “Promoted” tags indicate sponsored placements. Selected products may not suit everyone. We track selected market offers, which may not cover every product. Products are listed in no particular order unless specified, and inclusion or ordering may be influenced by popularity or commercial agreements. Most comparison table data is provided by Defaqto or sourced directly from providers. Always evaluate your own circumstances and consider independent advice before making major financial decisions.
Contributor
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Isabel Sandercock-Brown was an international money transfers writer at Finder. She's written for a number of organisations, from the Salvos to Bumble. She has a Bachelor of Arts in Communications from the University of Technology, Sydney. See full bio

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