TL;DR – Quick Summary: Remitly is a fully regulated international money transfer service available in the United States, UK, Canada, Australia, and several European countries. It supports transfers to over 170 countries with delivery by bank deposit, cash pickup, mobile wallet, and home delivery. Remitly offers two transfer tiers Economy (cheaper, 3–5 business days) and Express (faster, minutes to hours, higher fee). Bank account funding delivers the lowest total cost; card funding enables faster transfer confirmation. Remitly is consistently among the most competitive providers for consumer remittances to Latin America, South Asia, and Southeast Asia. First-time senders typically receive promotional pricing that further reduces costs on the initial transfer.
What Is Remitly and How Does It Work?
Remitly is a digital-first international money transfer service founded in 2011 and headquartered in Seattle, Washington. It has grown into one of the largest dedicated consumer remittance platforms globally, processing billions of dollars in annual transfer volume across corridors connecting the United States, United Kingdom, Canada, Australia, and European Economic Area to over 170 destination countries. Remitly's core proposition is combining competitive exchange rates, transparent fee structures, multiple delivery methods, and a mobile-optimized user experience into a single platform accessible to everyday consumers particularly immigrant communities sending regular support remittances to families abroad.
The mechanics of a Remitly transfer follow a straightforward model: the sender initiates and funds the transfer in their local currency through the Remitly application or website; Remitly converts the funds at its stated exchange rate and transmits them to the destination country through a combination of local banking relationships and payout partner networks; the recipient receives the funds in local currency via their preferred delivery method bank deposit, cash pickup, mobile wallet, or in some markets, home delivery. The sender pays upfront; the recipient receives without any deduction from their end.
Countries and Currencies Supported by Remitly
Remitly supports transfers from over 20 sending countries to more than 170 receiving countries, covering the major remittance corridors that account for the overwhelming majority of global consumer transfer volume. Strong sending country coverage includes the United States, United Kingdom, Canada, Australia, Ireland, and most of the European Economic Area. Receiving country coverage spans Latin America (Mexico, Guatemala, El Salvador, Colombia, Peru, and others), South Asia (India, Pakistan, Bangladesh, Sri Lanka, Nepal), Southeast Asia (Philippines, Vietnam, Indonesia, Thailand), West Africa (Nigeria, Ghana, Senegal), East Africa (Kenya, Tanzania, Uganda, Ethiopia), and many other markets.
Notably, Remitly's depth of delivery options is not uniform across all 170+ receiving countries. In high-volume corridors — U.S.-to-Mexico, U.S.-to-India, U.S.-to-Philippines, UK-to-Philippines Remitly has invested in extensive delivery networks with multiple payout options including cash pickup at thousands of locations. In less-traveled corridors, bank deposit may be the only available payout method. Verifying the available delivery options for your specific destination within the Remitly app before initiating a transfer is always advisable.
Remitly's Two Pricing Tiers: Economy vs. Express
Remitly's two-tier service structure Economy and Express is one of its most distinctive features, allowing senders to explicitly choose between optimizing for cost or for speed based on their specific transfer needs. Understanding the trade-offs between these tiers is essential for getting the best value from the platform.
The Economy tier prioritizes low cost. Transfers in the Economy tier are funded by bank account (ACH debit) and typically arrive within three to five business days. The exchange rate margin on Economy transfers is generally more competitive than on Express, and the explicit transfer fee is lower or zero on many corridors for qualifying amounts. Economy is the right choice for non-urgent transfers where the recipient can wait a few days and the sender wants to maximize the amount delivered per dollar sent.
The Express tier prioritizes speed. Transfers in the Express tier are processed rapidly typically within minutes to a few hours using card-funded payment methods that enable faster confirmation. Express is available via debit card or credit card funding. The exchange rate may be marginally less favorable than Economy, and the explicit service fee is generally higher. Express is appropriate for emergency transfers, urgent family needs, or situations where the recipient requires immediate access to funds. The fee premium for Express over Economy typically ranges from $2 to $10 depending on the corridor and transfer amount.
How to Create a Remitly Account
Creating a Remitly account is a fully digital process that takes approximately five to ten minutes for most users. Download the Remitly app from the iOS App Store or Google Play, or access the platform through Remitly's website. Tap or click "Create Account" and enter your email address and a secure password. Provide your full legal name as it appears on your government-issued identification this must match exactly for regulatory compliance purposes. Enter your date of birth, residential address, and mobile phone number. You will receive a verification code via SMS to confirm your phone number.
Initial account creation enables you to view rates and initiate a first transfer. To increase transfer limits and ensure smooth processing, Remitly requires identity verification you will be prompted to upload a photo of a government-issued ID (passport, driver's license, or national ID card) and in some cases a selfie for biometric matching. This KYC (Know Your Customer) verification is required under anti-money-laundering regulations applicable to all licensed money transfer operators. Most verifications complete automatically within minutes; manual reviews may take up to 24 hours in some cases.
How to Set Up and Complete Your First Transfer
After creating and verifying your account, setting up a transfer through Remitly follows a clear sequential process. Open the Remitly app or website and select "Send Money." Choose the destination country from the dropdown menu. Enter the amount you wish to send (in your origin currency) or the amount you want the recipient to receive (in destination currency) the platform calculates the equivalent in real time. Remitly displays the current exchange rate, transfer fee, and the exact amount the recipient will receive for both Economy and Express tiers, allowing direct comparison of the two options before you commit.
Select your preferred service tier. Add recipient information: you will need the recipient's full legal name (matching their identification), their preferred delivery method, and the relevant details for that method bank account number and routing/SWIFT information for bank deposits, or the recipient's mobile number for mobile wallet delivery. For cash pickup, you need only the recipient's full name. Select your payment method bank account (debit card linked to checking) for Economy, or debit/credit card for Express. Review all transfer details on the confirmation screen, including the exchange rate, fee, delivery method, and expected delivery date. Confirm and submit the transfer.
Payment Methods Accepted by Remitly
Remitly accepts bank account transfers (via ACH debit in the U.S., bank transfer in other markets), debit cards, and credit cards as funding methods. Bank account funding is the most cost-effective option and is the standard funding method for Economy transfers it carries no additional processing surcharge from Remitly and enables the lowest available fee structure. Bank transfers typically take one to two business days to confirm, during which the transfer status shows as "pending" until Remitly confirms receipt of funds.
Debit card funding enables faster processing Remitly can begin processing the transfer more quickly because card authorization is immediate. This makes debit card the preferred funding method for Express tier transfers where speed is the priority. A processing surcharge for debit card funding is typically incorporated into the Exchange rate or fee displayed at the time of transfer confirmation compare the total recipient amount between bank and card funding options to quantify this difference for your specific transfer. Credit card funding is accepted but is generally the most expensive option due to card processing costs and potential cash advance fees from the card issuer. Remitly displays all applicable fees and the resulting recipient amount for each funding method before transfer confirmation, enabling transparent comparison.
Delivery Options: Bank Deposit, Cash Pickup, Mobile Wallet
Remitly's delivery network is one of its strongest competitive assets, particularly in high-volume corridors where it has invested in broad coverage across multiple delivery channels. Bank deposit is available to all major banks in supported receiving countries and is the most cost-efficient delivery method. Recipients receive funds in their local currency directly in their bank account. The information required is the recipient's account number and bank identifier (IFSC in India, sort code in the UK, routing number in the U.S., etc.).
Cash pickup is supported through Remitly's partner agent networks in key markets. In the Philippines, this includes SM malls, LBC Express, and Cebuana Lhuillier. In Mexico, OXXO and major bank branches serve as pickup points. In Guatemala, El Salvador, and Honduras, extensive agent coverage reflects Remitly's particular strength in Central American corridors. Recipients present valid government-issued photo identification and the reference number provided by the sender to collect funds in local currency. Mobile wallet delivery is available in markets with strong mobile money penetration GCash in the Philippines, M-Pesa in Kenya and Tanzania, bKash in Bangladesh, and others with funds credited directly to the recipient's registered mobile wallet account, typically within minutes of transfer processing.
Remitly Exchange Rates and How to Evaluate Them
Remitly generates revenue from a combination of explicit transfer fees and exchange rate margins applied above the mid-market interbank rate. The exchange rate margin varies by corridor, tier (Economy rates are generally better than Express), and transfer amount. On major, high-volume corridors such as USD/INR, USD/PHP, and USD/MXN, Remitly's margins are highly competitive typically 0.5% to 1.5% above mid-market on the Economy tier. On less-traveled corridors, margins can be wider.
To accurately evaluate a Remitly rate for any transfer, compare the rate displayed in the Remitly app against the current mid-market rate on XE.com or Google Finance for the same currency pair. The percentage difference between these rates represents the exchange rate cost component of your transfer. Adding this to the explicit fee gives you the true total cost of the transfer, which you can compare against alternative providers using a real-time comparison tool. Remitly's promotional first-transfer rates available to new customers often offer rates significantly better than Remitly's standard ongoing margins, making the first transfer particularly cost-effective.
Remitly Fees: What You Will Pay
Remitly's explicit fee structure varies by origin country, destination country, tier, and transfer amount. In the United States, Economy fees for bank-account-funded transfers start at $0 for qualifying corridor-amount combinations and go up to $3.99 to $5.99 for transfers to certain corridors. Express fees are generally $3.99 to $10.99 per transfer depending on the destination and amount. Remitly periodically runs promotional zero-fee offers on specific corridors, particularly for new customer first transfers, which can make the initial transfer cost very low or zero. Fees are always displayed before transfer confirmation and are not deducted from the amount the recipient receives — the recipient amount displayed is the exact amount they will collect.
Remitly Transfer Limits
Remitly's transfer limits vary based on account verification status, sending country, and destination country. New, unverified accounts face lower daily and transfer limits typically $1,000 to $2,999 per transfer and per day. After completing full identity verification (government-issued ID upload and biometric confirmation), limits increase substantially to $10,000 or more per transfer for fully verified accounts in most corridors. Higher limits may be available upon request for verified accounts with established transfer histories. Remitly displays your current applicable limits within the account settings section of the app.
How to Track a Remitly Transfer
Remitly provides real-time transfer tracking through its app and website. After initiating a transfer, you can view the current status — whether it is pending bank confirmation, being processed, in transit, or delivered from the transfer history section of your account. Remitly also sends proactive email and push notification updates at each status change, including when the recipient can access the funds. For cash pickup transfers, the tracking screen displays the reference number the recipient must present at the agent location. Delivery time guarantees when offered are backed by Remitly's Price Promise: if your transfer does not arrive by the guaranteed time due to a Remitly error, Remitly refunds the transfer fee.
Remitly Promotions and First-Transfer Offers
Remitly regularly offers promotional pricing for new customers typically a combination of reduced or zero transfer fees and a slightly better exchange rate than the standard ongoing offering on the first transfer. These promotions are corridor-specific and change periodically. When creating a new account, applying any available promotional code or activating any displayed offer before confirming the first transfer captures this pricing. Existing customers may also receive corridor-specific promotional rates through the app's "Promotions" section or through email offers. While promotional rates should not be the sole basis for provider selection the ongoing standard rate is what matters for regular senders they do represent genuine additional value for first transfers and occasional corridor-specific opportunities.
Is Remitly Safe? Regulation and Consumer Protection
Remitly is a fully regulated money transfer operator across all jurisdictions where it operates. In the United States, Remitly is registered as a Money Services Business with FinCEN and holds money transmitter licenses in all states that require them. In the United Kingdom, Remitly is authorized by the Financial Conduct Authority as an Electronic Money Institution. In Canada, it is registered with FINTRAC. These regulatory authorizations require Remitly to maintain consumer funds in segregated accounts, implement robust AML and CTF compliance programs, provide mandatory pre-transfer disclosures, honor cancellation rights, and resolve errors under the applicable regulatory frameworks of each jurisdiction. Remitly has processed tens of billions of dollars in transfers and maintains strong consumer trust ratings on independent review platforms.
Frequently Asked Questions
How long does a Remitly transfer take?
Economy tier transfers funded by bank account typically take three to five business days to credit the recipient's account, though many corridors deliver within one to two business days. Express tier transfers, funded by debit or credit card, typically arrive within minutes to a few hours for bank deposit and most cash pickup locations. Mobile wallet transfers are generally credited within minutes regardless of tier. Remitly displays an estimated delivery date specific to your transfer before you confirm, and this date is covered by Remitly's delivery guarantee on eligible transfers.
What information do I need to send money through Remitly?
You need the recipient's full legal name (matching their government-issued ID), their preferred delivery method, and the relevant account details for that method. For bank deposit: account number, bank name, and the relevant bank code (IFSC for India, sort code for the UK, routing number for the U.S., etc.). For cash pickup: the recipient's full legal name only — they present their ID and the reference number at the pickup location. For mobile wallet: the recipient's mobile number registered to the wallet account.
Can I cancel a Remitly transfer after it has been sent?
You can cancel a Remitly transfer before it has been credited to the recipient. If the transfer has not yet been processed or the funds have not been picked up or deposited, log into the Remitly app, navigate to the transfer in question, and select "Cancel Transfer." Remitly will refund the full amount including fees to your original payment method. Under U.S. federal remittance transfer rules, you also have a 30-minute cancellation right from the time of payment, regardless of processing status, as long as the recipient has not yet received the funds.
Does Remitly work for large transfers?
Remitly is primarily designed for consumer remittances in the $50 to $10,000 range, and fully verified accounts can transfer up to $10,000 or more per transfer. For transfers significantly above this range property purchases, tuition payments, or business transfers dedicated large-transfer specialists such as OFX, Wise (for transfers up to their corridor limits), or XE Money Transfer may offer better rates for high-value transfers and more appropriate customer service infrastructure for large, time-sensitive transactions. Remitly may accommodate larger amounts in some cases; contact Remitly support for guidance on high-value transfer capabilities specific to your corridor.
What happens if my Remitly transfer is delayed or the recipient does not receive the money?
If your transfer does not arrive by Remitly's stated delivery estimate due to a Remitly error, you are entitled to a fee refund under Remitly's Price Promise. Report any delay or non-delivery through the Remitly app's "Help" section or by contacting Remitly customer support. Under U.S. federal remittance transfer rules (Regulation E Subpart B), you have 180 days from the expected delivery date to report an error, and Remitly must investigate and resolve the issue within the regulatory timeframe
offering either a resend at no charge, delivery of the correct amount, or a full refund as the applicable remedy.
