Remitly Express vs Economy: A Guide to Faster and Cheaper Transfers

Remitly Express is a faster way to send money, with transfers typically arriving in minutes. Remitly Express uses a direct debit method to send money, which can reduce transfer times.

The main difference between Remitly Express and Economy is the transfer speed. Remitly Express is significantly faster, with transfers arriving in minutes, whereas Economy transfers can take up to 3 business days.

Remitly Express has a higher transfer fee compared to Economy, but the convenience of faster transfers may be worth the extra cost for some users.

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Transfer speed and cost are two crucial factors to consider when choosing between Remitly's Express and Economy options. Remitly offers an Express option that transfers money more quickly, but at a higher cost compared to the Economy option.

For smaller transfers, Remitly's Economy option can be a cost-effective choice, with fees starting at $2.99 for some countries. However, if you're transferring larger amounts, Remitly's standard fee of $3.99 for transfers under $1,000 may be more expensive than Wise's transparent fee structure, which charges 0.35% to 1.65% of the transfer amount.

If you're paying with a credit card, be aware that you may incur an additional 1% fee, as well as any cash advance fees and interest charged by your card issuer. Here's a breakdown of some example fees for different transfer destinations:

Remitly offers two transfer speed options: Express and Economy. The Express option transfers money within minutes, while the Economy option takes about three to five business days.

The speed of completion of a transaction mainly depends on the currency, amount, and mode of payment. It also depends on whether payments were made on weekdays or weekends.

Remitly's Express option is instant, but there's a fee for every transaction under $1,000. This makes it suitable for urgent payments, but not for regular payments.

For regular payments, Wise takes up to two days compared to Remitly's five-day period.

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Remitly charges a flat fee of $3.99 for transferring less than $1,000, with no fee applicable for amounts above $1,000. However, an additional 3% fee is charged for credit card transactions.

Wise has a transparent fee structure that offers mid-market transfer rates, with fees ranging from 0.35% to 1.65% of the transferred amount. This fee varies depending on the currency, transfer method, and amount.

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If you're transferring a large amount, Remitly might be the better choice since it charges less fees for amounts above $1,000. But for smaller amounts, Wise's transparent fee structure might be more suitable.

Here's a comparison of the fees for transferring to different countries with Remitly:

Keep in mind that paying with a credit card may incur an additional 1% fee, and your card issuer may charge a cash advance fee and interest.

Remitly offers two transfer options: Express, which transfers money within minutes, and Economy, which takes about three to five business days. Both options can be used at standard prices.

The speed of completion depends on the currency, amount, and mode of payment, as well as whether payments were made on weekdays or weekends. A transaction done on a weekday will be completed in one or two days, while a weekend transaction will take three or five days.

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Here are some highlights of Remitly's transfer features:

Remitly fees depend on the transfer destination and currency, and sometimes on the amount and whether you choose the Express or Economy delivery service. This means you should check the fees before making a transfer.

Remitly offers two transfer options: Express and Economy. The Express option costs more than the Economy option, as seen in the examples: Send to Colombia: Express $6.49, Economy $2.99, or Send to Philippines: Express $3.99, Economy $3.99.

If you're sending a large sum of money, Remitly is cheaper. However, if you pay with a credit card, you may pay an additional 1% fee.

Here are some examples of Remitly fees for different transfer destinations:

Your card issuer may also charge you a cash advance fee and interest if you pay with a credit card.

Remitly offers competitive exchange rates, often beating the rates of traditional banks.

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The service also allows for free transfers to eligible countries, making it a cost-effective option for those who qualify.

Remitly's customer support is available 24/7, providing peace of mind for users who need assistance.

However, some users have reported issues with the service's customer support in the past.

Remitly's transfer times can vary depending on the delivery method chosen, with Express transfers taking 1-2 business days and Economy transfers taking 3-5 business days.

This can be a significant factor in deciding which service to use.

Remitly has a network of over 150,000 transfer locations worldwide, making it easy to pick up cash from a local agent.

This can be a convenient option for those who don't have access to a bank account or prefer to use cash.

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