Remitly Review – The Good, Bad & Ugly

Mani Karthik

In my pursuit of getting better & smarter in life,
I share everything I learn, on this blog, so you can make use of it.

Remitly is a money transfer service that allows users to send money to family and friends around the world. The company has been in operation since 2011 and is headquartered in Seattle, Washington. While Remitly is a legitimate money transfer service, there have been some complaints about the company. In this article, we’ll look at Remitly review – in depth!

How does Remitly work?

Remitly is a digital remittance company that allows users to send money internationally. The company is headquartered in Seattle, Washington and was founded in 2011 by Matt Oppenheimer and Josh Oppenheimer. The company has raised over $340 million in funding from investors such as Bezos Expeditions, DFJ, Goldman Sachs, Naspers, and Tiger Global Management.

Remitly allows users to send money to family and friends in over 50 countries using either their bank account, debit card, or credit card. The company charges a fee for each transaction, which is typically a percentage of the amount being sent. When sending money, users can choose to have the funds deposited into the recipient’s bank account, picked up in cash, or delivered to their door.

Remitly has built a network of partner banks and agents in various countries that allow them to offer competitive exchange rates and fast delivery times. The company has also developed a mobile app that makes it easy to send money on the go.

Also read: RIA Money Transfer Review

Remitly money transfer works by allowing users to send money to friends and family in other countries. The service is available in over 50 countries and offers competitive rates. Users can also track their transfers and receive notifications when the money has been received.

Which is better for sending money home: Remitly or Western Union?

Remitly is better for sending money home because it is cheaper and faster.

Remitly is a money transfer service that offers fast, safe, and convenient ways to send money to friends and family around the world. Western Union is a global leader in money transfer services, offering fast, convenient, and reliable money transfer options to consumers and businesses.

Remitly offers lower money exchange rates than Western Union.

Remitly is a money transfer service that allows users to send money to friends and family members in other countries. The service is available in over 50 countries and offers competitive exchange rates and low fees. Remitly also offers a mobile app that makes it easy to send money on the go.

One downside of Remitly is that it does not offer cash pickup in all countries. Additionally, Remitly may not be available in some countries where Western Union is available.

How to send money internationally with Remitly

1. Enter your information

To get started, head to Remitly.com and enter the amount of money you want to send, the country you’re sending it to, and whether you want to pay with your bank account, debit card, or credit card.

2. Choose your recipient

Next, you’ll need to choose to who you’re sending the money. You can either enter their name and address or create a new recipient.

3. Enter your payment method

Now you’ll need to enter your payment method. You can pay with your bank account, debit card, or credit card.

4. Review and confirm your transaction

Once you’ve entered all the relevant information, take a moment to review your transaction. If everything looks good, go ahead and confirm it.

5. Track your transaction

Once you’ve sent your money, you can track it every step of the way. Remitly will send you updates via text or email, and you can also check the status of your transfer online.

Is Remitly safe to send money?

Yes, Remitly is safe to use. The company is licensed and regulated by the US government and all transactions are protected by 128-bit SSL encryption.

What are the fees for sending money with Remitly?

The fees for sending money with Remitly vary depending on the amount of money being sent, the destination country, and the delivery method. For example, sending $500 to Mexico with an Express delivery will have a fee of $5.

Remitly v/s Xoom

Remitly charges a flat fee of $3.99 for all transfers, while Xoom charges a variable fee depending on the amount being transferred. For example, if you were to send $500, Xoom would charge a fee of $9.99.

Wise v/s Remitly

When sending money internationally, Wise typically charges a fee of 1-2% of the amount being sent. They also charge a small, fixed fee for each transaction. In contrast, Remitly charges a flat fee for each transaction, plus a variable fee that depends on the amount being sent and the destination country.

Remitly

  • Offers a mobile app for sending money
  • Has a first-time user bonus
  • Offers a referral program
  • Has a blog with money-saving tips
  • Fees: $3.99 – $149.99
  • Exchange Rate: 1 USD = 0.75 GBP

Xoom

  • Offers a mobile app for sending money
  • Has a first-time user bonus
  • Offers a referral program
  • Allows you to send money to mobile wallets
  • Fees: $4.99 – $24.99
  • Exchange Rate: 1 USD = 0.70 GBP

Wise

  • Offers a mobile app for sending money
  • Has a first-time user bonus
  • Offers a referral program
  • Has a blog with money-saving tips
  • Allows you to send money to mobile wallets
  • Fees: £1 – £2
  • Exchange Rate: 1 USD = 0.80 GBP

What is the exchange rate for Remitly?

The exchange rate for Remitly is determined by the market rate at the time of the transaction.

What countries can I send money to with Remitly?

Remitly can send money to India, the Philippines, Mexico, Colombia, and Ecuador.

What are the benefits of using Remitly?

Some benefits of using Remitly include lower fees, faster transfers, and more transparency. Additionally, Remitly offers a mobile app that makes it easy to send money on the go.

Why is Remitly good for USA to India money transfer?

There are a few reasons that make Remitly the best money transfer service for USA to India:

  1. Low Fees: Remitly charges a flat fee of $3.99 for all transfers, no matter the amount. This is much lower than the average fee charged by other money transfer services.
  2. Fast Transfers: Remitly can transfer money to India in as little as 15 minutes.
  3. Easy to Use: The Remitly app is very user-friendly and easy to use.
  4. Safe and Secure: Remitly is a licensed and regulated company. All transfers are protected by 128-bit encryption.
  5. Excellent Customer Service: Remitly has a team of dedicated customer service representatives who are always available to help.