Remitly has been a big name in sending money across the world for over a decade. It’s a reliable money transfer service that makes it easy to send money. You can use their mobile app to send money from your bank account, credit card, or debit card.
Remitly reaches over 170 countries and has about 460,000 places where you can pick up cash. They work with trusted financial partners to make sure your money gets to where it needs to go.
Remitly is known for its good rates and special deals for new users. This makes it a great choice for those looking to send money abroad. Plus, there are no fees for the people receiving the money, which is a big plus.
Remitly also offers 24/7 customer support in 18 languages. But, some users have mentioned that the exchange rates might not always be the best compared to other services.
Overview of Remitly’s Services
Remitly offers easy and safe ways to send money across the globe. It supports sending to over 150 countries. You can use credit and debit cards or bank accounts for transfers.
Remitly keeps your data and money safe. You can use the Remitly app on Android and iOS for easy transfers. They also have 24/7 support in 15 languages.
Remitly helps with transfers in over 75 currencies without extra fees. Recipients can get money through bank transfers, cash pickups, mobile money, or home delivery. You can track your money online or through the app, getting updates by email, SMS, or app notifications.
- Simple five-step process for sending money internationally.
- Transfer limits vary based on user verification, ranging from $2,999 to $60,000 in designated periods.
- Transaction fees are competitive, typically between $0 and $3.99 for transfers from the US to Mexico.
Remitly has a good reputation with about three million customers. But, it has lower sending limits and longer delivery times for Economy options. It’s a solid choice for sending money abroad.
For more insights on the top money transfer services, visit this guide.
Review of Remitly for Foreign Exchange and Transferring Money Internationally
Remitly has become a big name in sending money across borders. A recent Remitly review shows some users are unhappy with the exchange rates. They say the rates are not as good as they thought they would be.
Before, many praised Remitly for its good exchange rates. But now, it seems the rates are much lower than what’s advertised. For example, one user got a rate of 7.56XX for international transfers. This is lower than what Wise and Currencies Direct offer.
Even with these issues, many customers like Remitly. It has a 4.6 out of 5 rating from 68,778 reviews, with 81% giving it five stars. People like how easy it is to send money and how fast payments are.
Remitly is also known for being clear about fees. This makes it more attractive to users. Some see Remitly as a good choice for sending money to places like Asia, Africa, and Latin America. But, there are also complaints about customer service and payment holds.
When looking at foreign exchange rates and transfer options, it’s key to compare services. Options like Wise, Revolut, and Western Union are worth considering. Choosing Remitly means balancing the ease and speed of transfers with the current exchange rates.
Alternatives to Remitly
Looking for better options than Remitly? Wise is a top choice with great currency conversion rates. They show clear fees and real exchange rates, helping you save on international money transfers. Plus, their bank account funding fees are often under 1%, unlike the $45 of traditional wire transfers.
Currencies Direct is another great option, known for its excellent rates and sometimes no fees. It caters to both personal and business clients, making it a strong competitor. If you want to compare money transfer providers, Currencies Direct offers good value, beating traditional banks’ 13.40% average cost.
When sending money abroad, these alternatives might offer better rates and lower fees. Each service has its own benefits, helping you send more to your loved ones. Researching and comparing providers can lead to saving money and making transfers more efficient.
