How Remitly Works and What It Costs to Send Money

What Remitly does and who uses it

Remitly is a money transfer service that lets you send cash to people in other countries, usually within minutes to a few hours. Unlike Venmo or Zelle, which move money between U.S. bank accounts, Remitly specializes in international transfers—you can send from the U.S. to over 150 countries and territories. The person receiving the money can pick it up as cash at a store, have it deposited into their bank account, or receive it through a mobile wallet, depending on where they live.

Remitly is most commonly used by people sending money to family members abroad—for daily expenses, emergencies, or regular support. You don't need a bank account to send money through Remitly, though having one makes the process faster. The recipient also doesn't need a bank account; they can collect cash at a pickup location if that's their only option.

Key Takeaways

• Remitly charges a flat fee per transfer (usually $1 to $5 depending on the destination country and how fast you want it) plus a currency exchange rate that includes Remitly's markup.
• Money can arrive in minutes with express delivery or within one to three business days with standard delivery; the speed you choose affects the cost.
• You can send money using a debit card, credit card, or bank account, but bank transfers are usually cheaper because card payments trigger higher fees.
• The recipient can receive money as a bank deposit, cash pickup at a store, or mobile wallet transfer, depending on which countries are involved.
• Remitly is regulated as a money transmitter in most U.S. states, meaning your transfer is insured up to a certain amount, but the service is not a bank.

How much Remitly charges for a transfer

Remitly's cost has two parts: a transfer fee and an exchange rate markup. The transfer fee is what you see upfront—typically $1 to $5 depending on the destination country and delivery speed. Express transfers (arriving in minutes to a few hours) cost more than standard transfers (one to three business days). Some countries have lower fees than others; sending to Mexico or the Philippines, for example, is usually cheaper than sending to smaller nations.

The exchange rate markup is less obvious but often larger. When Remitly converts your U.S. dollars to the recipient's local currency, they use their own rate, which includes a profit margin. This rate is usually worse (less favorable to you) than the mid-market rate you'd see on Google or XE.com. The exact markup varies by country and changes daily. You can see both the fee and the exchange rate before you confirm the transfer, so you know the total cost before your money leaves your account.

Remitly occasionally runs promotions—for example, waiving the transfer fee on your first transfer or offering a better rate for a limited time. These deals appear in the app or on their website and are usually time-limited.

How to send money through Remitly

Start by downloading the Remitly app or visiting their website. You'll create an account using your email, phone number, and a password. Remitly will ask you to verify your identity—you'll need to provide your full name, date of birth, address, and the last four digits of your Social Security number. This is a legal requirement for money transmitters in the U.S.

Once your account is verified, you enter the recipient's details: their full name, country, and how they want to receive the money (bank deposit, cash pickup, or mobile wallet). Then you choose the amount, the delivery speed, and how you'll pay—debit card, credit card, or bank account. The app shows you the fee, exchange rate, and the exact amount the recipient will get. You review everything and confirm the transfer.

The money leaves your account immediately, even if delivery is standard speed. The recipient gets notified (usually by text or email) when the money is ready and how to collect it. If you're sending to a bank account, the deposit typically appears within the timeframe you chose. If it's a cash pickup, the recipient goes to a partner store (like Walmart or a local money transfer agent) with their ID and a reference number.

Remitly versus other ways to send money abroad

Remitly is faster and easier than a traditional wire transfer through your bank, which can take three to five business days and costs $15 to $50. Remitly is also simpler than opening a foreign bank account or using informal money transfer networks. However, Remitly is not always the cheapest option. Wise (formerly TransferWise) often has better exchange rates for larger amounts, though it can be slower. Western Union and MoneyGram offer cash pickup in more locations but typically charge higher fees. For very small amounts or urgent transfers, Remitly's speed and ease may outweigh the cost; for large amounts or regular transfers, comparing rates on Wise or your bank's wire service is worth the time.

If you're sending to someone with a U.S. bank account, Zelle or Venmo are free and instant—but they only work within the U.S. Remitly's advantage is that it reaches people outside the country, in places where Zelle and Venmo don't operate.

What happens if something goes wrong

If the recipient doesn't receive the money, contact Remitly's support team through the app or website. They can track the transfer and tell you where it is. If the money was sent to the wrong account or the recipient can't collect it, Remitly can usually reverse the transfer and return the money to you, though this can take several business days. Keep your transfer confirmation number—you'll need it to follow up on any issues.

Remitly is regulated as a money transmitter, which means your transfer is insured against loss or theft up to a certain amount (the limit varies by state). This protection does not cover fraud—if someone tricks you into sending money to the wrong person, Remitly cannot recover it. Always double-check the recipient's details before confirming.

Security and privacy on Remitly

Remitly uses encryption to protect your account and payment information, similar to what your bank uses. Your login is password-protected, and you can enable two-factor authentication (a code sent to your phone) for extra security. Remitly does not share your information with third parties for marketing, though they do share what's necessary with payment processors and the recipient's bank.

Because Remitly is a money transmitter, it is required by law to report large transfers to the U.S. government as part of anti-money-laundering rules. This is routine and does not flag your account unless the pattern of transfers is unusual. If you're sending money regularly to support family, this is normal and expected.

Frequently Asked Questions

Can I send money to someone without a bank account?

Yes. The recipient can pick up cash at a store (Walmart, Western Union agents, or local money transfer partners) using a reference number and their ID. Remitly shows you which pickup locations are available in the recipient's country before you send.

What's the fastest Remitly can deliver money?

Express delivery can get money to a bank account in minutes to a few hours, depending on the country. Cash pickup is usually available within hours. Standard delivery takes one to three business days and costs less.

Do I need a bank account to use Remitly?

No, but having one makes transfers cheaper. You can pay with a debit or credit card, though card payments carry higher fees than bank transfers. The recipient does not need a bank account; they can receive cash instead.

Can I cancel a transfer after I send it?

If the money hasn't been picked up or deposited yet, Remitly can usually cancel it and refund you. Once the recipient collects the cash or the bank deposit completes, the transfer cannot be reversed. Contact Remitly support immediately if you need to cancel.

Is Remitly safe to use?

Remitly is a licensed money transmitter regulated in most U.S. states. Your transfer is insured against loss or theft. However, like any money transfer service, it cannot recover money sent to the wrong person due to fraud or your own mistake, so verify the recipient's details carefully before confirming.