R
Remitly Review — Fees, Rates and Pros & Cons
Cash pickup, mobile wallet, and bank deposit options with a price guarantee.
Read user reviews on TrustpilotMoney transfer operator
Founded
2011
Headquarters
Seattle, WA, USA
Status
Public (NASDAQ: RELY)
Fee structure
Tiered fee + rate markup
Remitly offers two speed tiers: Economy (lower fee, slower) and Express (higher fee, minutes). Exchange rate includes a margin above mid-market.
Pros and cons
Pros
- Cash pickup at thousands of locations across India, the Philippines and LatAm
- Price-lock guarantee — quoted rate honoured even if it moves
- Strong mobile app, easy first-time setup
- Wide payment method support (debit, credit, bank, Apple/Google Pay)
Cons
- Exchange rate includes a markup
- Express tier costs significantly more than Economy
- Customer support response times can vary
- Send limits apply, especially for new accounts
Licenses and regulation
Remitly is regulated as a money services business or licensed bank in the following jurisdictions:
| Country / Region | Regulator |
|---|---|
| USA | FinCEN MSB + state licenses |
| UK | FCA |
| EU | Central Bank of Ireland |
| Canada | FINTRAC |
| Australia | AUSTRAC |
Top corridors
Remitly is most competitive on these currency pairs:
Compare against others
Profile based on publicly available company information. For pricing, KYC requirements and current promotions, always check Remitly's official site.