What is Remitly? Money transfer, exchange rates, limits & fees

Jan 10, 2025 · Remitly also refreshes exchange rates to reflect changes in the global currency markets. Remitly exchange rates are typically lower than mid-market or interbank rates. It also adds a small markup to the exchange rate depending on the currency, transfer route and other …

CouponFollow Extension

£3
OFF

Remitly Fees Explained: What To Expect For Your Transfer

2 weeks from now

Sep 6, 2024 · However, some services, like Vance, provide a flat £3 fee across the board, which could appeal to those who frequently send money. Exchange Rates: Remitly adds a margin to …

vance.tech

3%
OFF

Remitly Review: Rates, Fees & Safety 2025 | TopMoneyCompare

2 weeks from now

Remitly's flat fee structure means that the same fee applies, regardless of the transfer amount. Wise , on the other hand, charges a percentage fee between 0.3% and 0.45% of the transfer …

topmoneycompare.com

$19.89
OFF

Remitly Money Transfer Review: Fees, Rates And Transfer Times - Wise

2 weeks from now

Aug 24, 2021 · Sending money to Mexico, for example, will cost $19.89, plus a $3.99 charge for amounts under $500³. If you want to send money to South Africa, you’ll pay on a $4.99 for …

wise.com

FAQs about What is Remitly? Money transfer, exchange rates, limits & fees Coupon?

How does Remitly compare with other money transfer providers?

It's best to compare the displayed rate on Remitly with the current interbank rate to calculate the size of the margin charged. You can then use this as a benchmark for comparing the rates of other money transfer providers. Typically, Remitly's markup onto exchange rate ranges from 1% to a little over 3%. ...

What are Remitly fees & exchange rates?

The fees and exchange rates vary depending on factors such as transfer amount, destination, funding method, and service chosen. In terms of security and compliance, Remitly is a registered Money Services Business with the US Department of the Treasury and is licensed as a money transmitter in the US. ...

Is Remitly a good exchange rate?

If you're looking to transfer money using Remitly but want the best exchange rate possible, you may want to look at a different company. While Remitly's rates are decent, they're not the best. My recommendation for getting the best rate is Atlantic Money, which offers mid-market rates with a flat fee of £3. ...

Does Remitly charge a transfer fee?

On top of applying a margin on top of the mid-market exchange rate, Remitly charges customers fees for making transfers. Transfer fees on Remitly depend on how much you send and the delivery method you choose. Express is the fastest delivery method, but also costlier than the ‘Economy’ option, which is inexpensive but with a longer delivery window. ...

What is Remitly's markup on exchange rate?

Typically, Remitly's markup onto exchange rate ranges from 1% to a little over 3%. Every new customer gets a special offer on their first transfer with Remitly. This is typically a stronger exchange rate and lower fees for a portion of your first transfer. ...

Is Remitly a good platform for international money transfers?

In general Remitly is an excellent choice for those seeking a secure and efficient platform for international money transfers. With its competitive exchange rates and positive customer reviews, Remitly provides users with the freedom and peace of mind they desire when sending funds to loved ones around the world. ...