Comprehensive Guide to Remitly Details and Services

Remitly is a popular online money transfer service that allows you to send money to over 140 countries worldwide.

Remitly offers competitive exchange rates and low transfer fees, making it a cost-effective option for sending money abroad.

The service is available in multiple currencies, including US dollars, euros, and British pounds, among others.

Remitly also provides a mobile app for easy access to its services on-the-go.

Remitly is an online remittance provider that allows people in 30 countries to send money to 170 countries in approximately 100 currencies.

You can use Remitly to send money electronically, without the need for physical premises. Recipients in some countries can receive funds via bank deposit, mobile money, and cash pickup.

Remitly operates as an American company, established in 2011. It offers a range of services, including foreign exchange and electronic funds transfer.

Here are some key facts about Remitly's services:

Remitly differentiates between Express and Economy transfers, with the main difference being the speed of the transfer. Express transfers are faster, but come with higher fees.

Remitly's transfer limits primarily apply to transaction value over 24 hours, 30 days, and 180 days. These limits can be increased by upgrading your account tier, which requires providing additional information or documents for verification.

The speed of your transaction shouldn't be impacted by your status as long as you're making a payment within your tier allowance. However, if you try to make a payment that exceeds your limits, it may be delayed, returned, or not processed at all.

Remitly's limits are in place to protect customers and make sure that the accounts are used as intended. However, the limits might mean this isn't the best service for your particular payment.

Here are some key takeaways about Remitly's fees and limits:

When comparing money transfer services, it's essential to consider the upfront fees and exchange rates to get the best deal. Remitly differentiates between Express and Economy transfers, with varying fees depending on the speed of the transfer.

To give you a better idea, let's look at three popular transfer routes from the United States: one to Mexico, South Africa, and India. Remitly has different fees for each of these routes.

Don't forget to check the exchange rates, as they can impact the final amount received by the recipient. The exchange rates offered by Remitly can vary significantly depending on the transfer type and route.

Remitly also offers a Wise multi-currency account, which can hold over 40 currencies and send money to over 50 countries online for low transparent fees. This can be a convenient option for those who need to manage multiple currencies.

Transaction limits on Remitly primarily apply to the value of transactions over 24 hours, 30 days, and 180 days. However, other limits may apply depending on the payment partners used, and you'll be notified in the Remitly app if this is the case.

Remitly's transfer limits primarily apply to transaction value over 24 hours, 30 days, and 180 days.

You might find additional limits applied depending on how you transact, and you'll be notified in the Remitly app if this is the case.

The speed of your transaction shouldn't be impacted by your status as long as you're making a payment within your tier allowance.

If you try to make a payment that exceeds your limits, it may be delayed, returned, or not processed at all.

You can increase your limits by upgrading your account tier, which requires providing more information or documents for verification.

Remitly's limits are in place to protect customers and ensure accounts are used as intended.

The limits might mean Remitly isn't the best service for your particular payment if you're sending higher volume payments.

Here are the key limits to keep in mind:

Remitly supports payments from 17 sending countries to 100 receiving countries across the globe.

To check if your destination country is available, you'll need to go to the Remitly website and model the payment. This will also allow you to see the payment and delivery options, and exchange rates available to you.

Remitly doesn't advertise its exchange rates upfront, so you'll need to model the payment online to see the rate on offer.

Remitly supports payments from 17 sending countries. You can check if your destination country is available on the Remitly website.

To see the specific currencies supported, you'll need to check the Remitly website or model a payment. Remitly supports payments to 100 receiving countries across the globe.

Remitly offers a range of payment and delivery options, and you can see the exchange rates available to you on their website.

The exchange rate is a crucial part of international transactions, but it can be confusing.

To check the exchange rate on offer for a transfer, you'll need to model the payment online. This is because the rate you're given might not be the same as the mid-market exchange rate, which is the rate banks and foreign exchange services get themselves when they buy currency.

The mid-market rate matters because it's the base rate that determines the value of one currency compared to another. However, some services add a margin to this rate, which they keep as profit in addition to other fees.

Not all services add a markup to the exchange rate they use. Wise payments, for example, are processed using the mid-market rate, making it easier to see exactly what you're paying for the transaction.

A markup can make it hard to see the real cost of your cross-border payment, but being aware of the mid-market rate can help you save money.

Remitly is a fully licensed organization and a registered Money Services Business with the US Department of Treasury.

This strict regulation by the Treasury ensures that sending money through Remitly is probably safe. Money remittance companies are held to high standards, providing an added layer of protection for your transactions.

You and your recipients can track your transfer every step of the way, giving you peace of mind and allowing you to stay on top of your transfer.

To comply with state and federal law, we're required to verify your identity to keep our system safe. This is a standard practice to protect both you and our system.

We may be required to obtain and record identifying information about you to comply with anti-money laundering and counter-terrorism financing laws. This is a necessary step to ensure our system remains secure.

You authorize us to make inquiries to validate the information you provide. This may involve requesting additional information from you to verify your identity against third-party databases or through other sources.

We may also request you to take steps to confirm ownership of your email address or Payment Instrument. This is a standard procedure to ensure your account is secure.

Here are the steps we take to verify your identity:

Remitly is a fully licensed organization and a registered Money Services Business with the US Department of Treasury. This means they're strictly regulated, which gives you peace of mind.

Sending money through Remitly is probably safe because of this strict regulation by the Treasury. You can trust that your transactions are being handled responsibly.

You and your recipients can track your transfer every step of the way, giving you complete visibility into the process. This transparency is a big part of what makes Remitly a trustworthy option.

Fast and friendly support is available to you and your loved ones, should you need it. This level of service is a testament to Remitly's commitment to customer satisfaction.

Remitly gets a score of 4.3 out of 5 stars on Trustpilot, a consumer review website, with many reviews mentioning customer service and delivery times.

However, Sitejabber, another consumer review site, has a very different rating, with Remitly getting only 1.23 stars out of 5.

It's essential to shop around and check more Remitly reviews, such as this comparison with Xoom, to make an informed decision before committing to any remittance provider.

To get a better understanding of Remitly's reputation, you can check out the following review sites:

These review sites can give you a more comprehensive view of Remitly's strengths and weaknesses.