Remitly Money Transfers

Find out how Remitly can help you send money overseas fast and compare your options with Savvy.

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, updated on August 18th, 2023       

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Sending money home to family or friends has never been easier with a bevy of mobile app-based money transfer services like Remitly now available.  Offering a very fast transfer service and low fees, Remitly is challenging the dominance of the big banks in the international transfer market.  Find out if it’s the right provider for you by comparing services right here with Savvy and starting your transfer today.

*All product information is correct as of August, 2022.

Remitly money transfer review

About Remitly

Remitly was founded in 2011 in Seattle, in the USA, under the name BeamIt Mobile to provide a quick and easy means for migrants to send money back to their home countries.  Since that time, the company has expanded its services worldwide and now has seven global offices. It offers transfer services to over 170 countries using 21 currencies. It’s now estimated to have a customer base of over 2.1 million people regularly using the service.

What products and services does Remitly offer?

International money transfers to a bank account

Remitly offers an international money transfer service to another person’s bank account using their mobile app, which is available either through the App Store or Google Play Store.

Money transfers to a mobile app

As well as sending money to another person’s bank account, you can easily send money to another person who also has the Remitly app installed just by entering their mobile phone number.  The funds can be transferred almost instantly to their account.

Money transfers to digital wallets

It’s possible to get funds transferred to a card linked to a digital wallet such as Apple Pay or Google Pay using a mobile phone number. The digital wallets available with this service will vary depending on the region of the world where your recipient is located. Transfers within Australia are not possible.

Cash pickups and deliveries

In some countries, such as India, the Philippines and Colombia, Remitly offers a cash pickup service. They also offer a cash delivery service in select countries to take the money you send right to your recipient’s door. However, these services aren’t available to every country that Remitly operates in, so check that it’s available before you start the money transfer process.

Remitly transfer fees

The amount you’ll be charged for the transfer service will vary according to the country, currency and service you choose, as well as how much you choose to transfer.  You’ll be charged a small fee and possibly a markup on the mid-market exchange rate (which is the lowest exchange rate possible at any moment in time).

Speed of delivery

Remitly offers two different services to get your money overseas fast.  Choose from either:

  • a standard economy transfer, which will be delivered within three to five business days. For this option, you’re able to pay using a bank transfer.
  • an express option, which means the funds will be delivered immediately and can arrive within minutes. The fees involved in an express delivery are higher than those of standard delivery. For express payments, you’ll be required to pay either using a credit, debit or pre-paid card.

Special offers

Remitly provides special offers to customers who are using their service for the first time. This could be in the form of a free transfer (up to $500), a low introductory fee or a promotional exchange rate for your first transfer.  Any eligible promotional offers will automatically be applied to your first transfer, so you won’t have to remember a promo code or provide a coupon number.

Transfer limits

There are various transfer limits set by Remitly for certain periods (24 hours, 30 days and 180 days). These vary according to sending country and destination, as well as how much identification you provide. You can also apply to have your limit increased 24 hours after you sign up for Remitly, which will likely require you to provide further identification documents (for example, your tax file number) for your limit increase to be approved. The more information you can provide about yourself, the more you’ll be able to send in most cases.

How do I send money overseas with Remitly?

To get started with Remitly, follow these simple steps:

  • Download the app. From there, you’ll need to provide your:
    • full name
    • email address
    • date of birth
    • address
  • Next, make sure that Remitly supports transfers to the country you’d like to send your money to on their website or app.
  • Enter the details of who you want to send money to. When you schedule your transfer, you’ll be told the exact time and date your money will be available to your recipient.
  • You’ll be able to track the progress of your transfer through their website or mobile app until it’s delivered.
  • If your transfer doesn’t arrive on time, Remitly will refund you the cost of your fees. This forms their ‘delivery promise’.

The pros and cons of Remitly money transfers


Fast transfer service

In many circumstances, your transfer will arrive at its destination immediately, particularly if you’ve chosen the express delivery option.

No bank account needed

It’s possible to send money to your loved ones without them needing to have a bank account. For example, you could send a cash transfer directly to a pre-paid card linked to their digital wallet or a mobile app just using their mobile number.

First transfer free

Remitly offers the first transfer you make free of charge and will also give you a preferential exchange rate on your first transfer, which is a great bonus for new customers and those who only need to make a one-off transfer.


Potentially restrictive limits

Remitly imposes limits on transfers depending on the destination of the funds you wish to send.  These limits can be increased by providing more information about your identity and the purpose of your transfer.

Express service can be expensive

Choosing to pay extra for the express delivery service can mean your transfer ends up being more expensive than you originally thought it might be.  In this case, Remitly may not be your cheapest transfer option.

Exchange rate lock-ins unavailable

Exchange rate guarantees aren’t always provided, so the rate you’re quoted for your transfer may not be the same as the rate achieved when your transfer goes through.

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Disclaimer: Savvy is not advising or recommending any particular product to you. We provide general information on products for the purposes of comparison, but your personal situation or goals are not considered here. Although we try to make our comparisons as thorough as possible, we do not have information on all products on the market on our site.

If you decide to initiate a money transfer with one of the providers listed above via our website, you will not be dealing with Savvy; any applications or enquiries will be conducted directly with the provider offering that product.

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