Remitly - Independent review

All you need to know before sending money with Remitly

Low fees due to an optimized money transfer service and mobile apps. Simple, fast, and easy-to-use with a 100% satisfaction guarantee. You can only send money from the US, Canada, and the UK and can only receive money in select countries in Central America, South America, and Asia.

Remitly review by Monito

Remitly is an online international money transfer service allowing people in the U.S., Canada, and the U.K. to send money to various countries around the world. As a digital alternative to traditional money transfer services, Remitly makes money transfers fast, secure, and cheap. Remitly is mobile optimized and you can send money abroad using their online money transfer service or the Remitly app on your smartphone or tablet. Remitly provides its services in both English and Spanish.

The Remitly app and online transfer service lets you send money to the following countries in Central and South America: Colombia, Ecuador, El Salvador, Guatemala, Honduras, Mexico, Nicaragua, Peru, and the following countries in Asia : China, India, the Philippines.

Funding your money transfer is easy, Remitly lets you pay via bank transfer, debit, or credit card. Your recipient can have the transferred money deposited into their bank account in their local currency, or pick it up from one of the tens of thousands of pickup locations that Remitly provides.

Due to their focus on digital technology and mobile apps, Remitly fees are relatively cheap and they provide good exchange rates for money transfers and currency exchange. We’ve covered this in detail in the “Fees and Exchange Rates” section below. Remitly offers two main types of money transfer service:

  • Economy - You fund these money transfers with a deposit from your bank account. The fees are typically low or free, and the transfers normally take three to five days.
  • Express - You fund these transfers with your debit or credit card. The fees are higher and you will sometimes need to pay a card processing fee. The money is normally available to the recipient within minutes of you making payment.

Like many other money transfer services, Remitly does have daily and monthly limits on how much you can transfer, depending on your “tier.” You can get access to higher tiers by providing Remitly with additional information and identification.

  • Extremely easy to use with a simple, user-focused online interface and excellent mobile applications.
  • Recipients can collect their money from any participating bank. This includes almost all of the big banking networks in the countries where Remitly is available.
  • Several payout methods including cash pickup at over 10,000 locations, bank transfer, and mobile money / GCash.
  • Lock in your exchange rates when you place your transfer to avoid currency fluctuations.
  • SMS / text message alerts for you and the recipient so you can track the transfer and know when it’s been paid and collected.
  • A 100% satisfaction guarantee means you get your fees back if you aren’t completely happy.
  • Available in both English and Spanish.
  • Not always the cheapest provider, other providers do offer better exchange rates.
  • You can only send money from the U.S., Canada, or the U.K.
  • Only available in a limited number of countries.
  • A smaller number of cash pickup locations than their major competitors.
  • Daily and monthly limits on how much you can send (although these can be lifted.)

Remitly reviews are “Great” according to reviewers on Trustpilot. Remitly was reviewed at a rating of 8.8 out of ten, with 90% of the 2,100 reviewers rating it at four or five stars. Fewer than 8% of reviewers rated Remitly’s service at one or two stars.

Positive reviews of Remitly included comments like, “After some time getting everything set up , it was fast and easy. Love how I was kept informed of the progress from sending to getting picked up. So easy to use.” and “I would use their service again . it was so easy and fast, the recipient received the money in their account within 5 minutes and there was no charge for sending from a debit card.”

Although they were significantly in the minority, Remitly did have some negative reviews including, “What a foolish policy asking a customer that bring an ID with date of birth of your recipient, only then will they allow you to send money.” and “Don't send money here if your recipient bank is PSbank and especially during Thursday Canada time because they will wait and hold your remittance for next week’s banking hours.”

Key positive points
  • The money transfer services were rated as fast and cheap
  • Customers were very happy with how easy the service was to use.
  • Remitly was praised for being reliable and trustworthy
  • Customers were pleased with the customer service
Key negative points
  • A few customers had a bad experience with Remitly, especially when cancelling their transaction and waiting for a refund.
  • On some occasions, the money took a bit longer to arrive than expected, normally because of banking hours in the receiving country.
  • Some customers complained that their were a lot of requirements (bank information and personal identification) before making a transfer (note: these are legal obligations and therefore not Remitly’s fault).

Notably, Remitly responded to almost every negative review on Trustpilot with an offer to look into and resolve the issues for the reviewer. In many cases they also offered to refund their money transfer fees.

Can I trust Remitly?

Yes, Remitly is a trustworthy and secure money transfer provider.

Remitly is a registered Money Services Business with the U.S. Department of the Treasury and is licensed as a money transmitter in the U.S. Remitly is authorized to operate in all Canadian provinces except Quebec and is also authorized in the U.K.

Remitly provides the following security measures and fraud prevention safeguards:

  • All Remitly accounts are verified using a variety of techniques to keep them safe and secure, and to prevent fraud.
  • Users need to submit certain identification documents to send money through Remitly.
  • Remitly uses manual and automated detection techniques and risk management procedures to detect and eliminate suspicious account activity.
  • All transactions are protected with strong technological security including 256-bit SSL encryption with a 2048-bit signature.

Remitly offers a 100% satisfaction guarantee or you will get your money back. If you cancel your transaction at any time prior to its completion you will have all your money refunded in full. If the transaction has already been completed but you are not satisfied, Remitly will refund you their fees in full.

Remitly has financial strength and the backing of investors including TommorrowVentures, Jeff Bezos (Founder and CEO of Amazon), Trilogy Equity Partnership, QED and DJF. The company has now raised over $100m in venture capital from various noteworthy investors including the International Finance Corporation (IFC), part of the World Bank Group. Investors and venture capitalists see Remitly as a well-run, secure, and efficient business for international money transfers and transactions.

Remitly is growing rapidly too, increasing the total value of transactions and the number of customers served by between 200% and 400% year on year. It has hundreds of thousands of customers who are now collectively transferring more than $1 billion a year though its services, across over 2 million transactions.

How Remitly works

  1. Visit the Remitly website.
  2. Create an account with your email address, password, and let them know where you want to send money.
  3. Choose where you want to send money to, how much you’d like to transfer and your preferred delivery (Economy or Express).
  4. Enter the recipient’s information and payment details (bank, cash pick-up, or mobile phone number).
  5. Fund your transfer via bank transfer, debit, or credit card depending on what you prefer
  6. Remitly converts the money and makes it available to the recipient.
  7. Remitly will keep you informed throughout the lifecycle of your transfer.

Remitly Exchange Rates and Fees

Remitly Money Transfer Fees

Remitly money transfer fees are based on several different factors:

  • How much money you are transferring.
  • Where you are transferring money to.
  • How you are funding your money transfer.
  • How the recipient is receiving the transfer.
  • The transfer service you choose:
    • Economy (around 3 - 5 business days through a bank deposit)
    • Express (immediate through a debit or credit card)

For example, here are the fees charged for sending money from the U.S. to the Philippines.

Remitly’s Economy Service — Dollar to Peso — No Fee.
  • Arrives in three business days
  • Paid for with a bank account deposit from you
  • There is no Remitly fee for this service.

Remitly’s Express Service Paid for with a Debit Card — Dollar to Peso — $3.99.
  • Arrives almost immediately.
  • Paid for with your debit card.
  • There is a Remitly fee of $3.99 for this service.

Remitly’s Express Service Paid for with a Credit Card — Dollar to Peso — $3.99 plus 3% of Transaction Value.
  • Arrives almost immediately.
  • Paid for with your credit card.
  • There is a base Remitly fee of $3.99 for this service.
  • There is an additional fee of 3% of the whole transaction amount for processing the credit card payment.

Note that fees do vary significantly depending on where you are sending from, where you are sending to, the amount you are sending, the service you choose, and several other factors. Use our cost calculator at the top of this page to understand the fees and exchange rate for your unique circumstances.

Remitly Exchange Rates

Remitly’s exchange rates are competitive and are typically between 0.5% and 1.5% below mid-market rates. Create an account with Remitly and log in to see the exchange rates you will be charged, depending on where you are sending to. Exchange rates can vary based on several factors:

  • How much money you are transferring.
  • Where you are transferring money to.
  • How you are funding your money transfer.
  • How the recipient is receiving the transfer.
  • The transfer service you choose.

Remitly Money Transfer Partners

When you send money via Remitly, your recipient has a number of choices on how they will receive the funds. They can access money in several different ways:

  • Through a network of local Remitly agents where they can collect money in cash.
  • Via direct deposit into their local bank account in their native currency.
  • Using Mobile Money / GCash in certain locations — recipients can cash out their funds at certain locations using GCash. You can find more information on GCash here.

We’ve listed just some of the cash pickup locations and banking networks below. For a complete list of all the ways your recipient can pick up their money transfer, log into the Remitly website, go to the FAQ section and review “Delivery Options.”

Send Money to Mexico via Remitly (Mexican Pesos)

  • Remitly’s cash pick-ups network elektra, BBVA Bancomer, Bancoppel, Soriana, Scotiabank, Telecomm, Bansefi, Famsa, Chedraui, Waldo’s, Intermex, Banorte.
  • Remitly’s banking network includes BBVA Bancomer, Bancoppel, Scotiabank, Bansefi, Banco Azteca, Banorte, Isseg (farmacias), Caja Popular Mexicana.

Send Money to the Philippines via Remitly, including BLD (Philippine Pesos)

  • Cash pick-ups network — Cebuana Lhuillier, M Lhuillier, and any BPI Branch
  • Banking network — The Bank of the Philippine Islands, Banco de Oro, Philippine National Bank, Metrobank, Globe Gcash Wallet, and all Bancnet member banks.
  • GCash network — covers all Globe Telecom outlets, Tambunting Pawnshops, Villarica Pawnshops and the Green Bank of Caraga.
  • BDO cash network — covers all BDO bank branches, all SM Malls and department stores, SM Global Pinoy centers, Palawan Pawnshop and over 30 rural banks.

Send Money to India via Remitly (Indian Rupees)

  • Deposit instantly to Andhra Bank, Bank of Baroda, Canara Bank, Catholic Syrian Bank, Central Bank of India, City Union Bank, Corporation Bank, Federal Bank, HDFC Bank, Indian Bank, Indian
  • Overseas Bank, Kotak Mahindra Bank, Punjab National Bank, South Indian Bank, Union Bank of India, Vijaya Bank, and YES Bank.
  • Deposit within 4 banking hours to all others including ICICI Bank, State Bank of India, and Citibank.

Send Money to Central and South America via Remitly

  • Remitly’s cash pick-ups network includes Banrural, Banco industrial, elektra, Banco Agricola, MiCoope, Credomatic, Davivienda, Banco Atlantida, Ficohsa, Banpro (Grupo Promerica), Banco Lafise, BBVA, Bancolombia, Interbank, Servipagos, Banco Internacional, Banco del Austro, Sistema Fedecredito.
  • Remitly’s banking network includes Banrural, Banco industrial, Banco Agricola, Credomatic, Ficohsa, Davivienda, Banco Atlantida, Bancolombia, BBVA, Banco Internacional, Banpro (Grupo Promerica), Banco Lafise, Banco del Austro, Interbank, Banco Guayaquil.

Mobile Apps

Remitly provides mobile apps for smartphones and tablets on the Apple / iOS and Android platforms. Their mobile apps are very highly rated, scoring four and a half stars on iTunes and 4.2 stars on Google Play.

The Story Behind Remitly

Matt Oppenheimer, one of the founders of Remitly, formed a business called BeamIt Mobile in 2010. He experienced issues sending money back to the U.S. from Africa and decided to try and solve the issue. When he returned to the U.S. he started work on an easy-to-use money transfer system.

His business was accepted into the Techstars Incubator program in Seattle, and the business relocated there from Idaho. At Techstars, Matt met Josh Hug, who became a co-founder and the Chief Product Officer. The company also changed its name from Beamit Mobile to Remitly.

Other notable events in the company’s history include:

  • 2013 — doubled its transaction volumes over the year.
  • 2014 — growing its customer base by 400% and transferring over $100 million.
  • 2014 — processing its one-millionth transaction.
  • 2015 — allows users to make direct deposits to its network of banks in the U.S. India, and the Philippines.
  • 2015 — expanding money transfer service to India and Mexico.
  • 2015 — incorporating Talio’s picture messaging solution into Remitly’s app.
  • 2015 — sending over $500 million worth of annualized transfers

Today, Remitly continues to grow rapidly, expanding its network of banks and local agents in receiving countries and making it easier for people in the U.S., U.K, and Canada to send money to their friends and families back home.

Remitly Support

24/7 365 days a year


Toll-free: (888) 736-4859

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Key facts about Remitly

Service information

Time to open an account A few minutes
Pay-in options Credit card
Debit card
Bank Account
Pay-out options Cash
Bank account
Minimum amount No
Maximum amount Yes
Can you transfer from your mobile? Yes
Available languages
Personnal transfers Yes
Business customers No
Advanced currency contracts No
Required documents ID, Proof of Address
iOS app Yes
Android App Yes

Company information

Type of service provider Online money transfer operators
Active since 2011
Headquarter Seattle
Offices in United States
Jurisdiction Canada/United States

Contact information

Contact support
Service hour 24/7
Phone (888) 736-4859
Twitter @