What is Remitly?

Remitly is a digital remittance service founded in 2011 and headquartered in Seattle. It allows you to send money to more than 100 countries worldwide, with a focus on speed and ease of use.

Key Features

Remitly offers two transfer speeds: Express (minutes) and Economy (1-3 business days). The Express option costs more but delivers funds almost instantly. The Economy option uses the mid-market exchange rate with a small margin.

Fees and Exchange Rates

Remitly charges a flat fee starting at $0 for many corridors, going up to $3.99 for others. Exchange rate margins vary from 0.5% to 1.5% depending on the destination country. Always check the total cost before sending.

Speed

Express transfers arrive in minutes. Economy transfers typically arrive within 1-3 business days. Speed varies significantly by destination corridor.

Pros

  • Express transfers arrive in minutes
  • Excellent mobile app
  • No-transfer-fee promotions for first-time users
  • Strong coverage across 100+ countries
  • Cash pickup options in many destinations

Cons

  • Exchange rate margins can be higher than Wise
  • Economy speed is slower than some competitors

Our Verdict

Remitly is an excellent choice when speed is critical. The Express option is one of the fastest available. However, Wise typically offers better rates on the Economy option.