Remitly aims to offer quick and cheap international money transfers, with a focus on remittances throughout Asia. It’s known for low minimums, cash pick-ups in destination countries and quicker express transfers, but isn’t always the cheapest and doesn’t always have the best rates.
Compare other sites like Remitly to see if there’s a better option available for your transfer.
Wise is one of very few providers that offer money transfers at mid-market rates. Instead of relying on exchange rate margins, its fees consist of a percentage of your transfer, plus a few dollar flat fee.
WorldRemit operates in a wide range of countries and currencies, and offers flexible options for receiving money, including sending money directly to a recipient’s phone as mobile airtime.
OFX is a large and well-known transfer service, focused largely on business transfers. But you can also use it for personal money transfers to take advantage of its competitive rates. Its $250 minimum transfer size is larger than some, but still much more accessible than many other providers.
MoneyGram has almost the same range of countries and currencies as Western Union but tends to be cheaper, and it has a wider scope than Remitly. Much like Remitly, it’s known for low minimums, cash options and fast transfers.
TorFX is a digital money transfer service. It’s different to Remitly in that it only allows bank-to-bank transfers, has higher limits and has no fees.
Western Union is the world’s oldest and largest money transfer service. Like Remitly, it’s known for low minimums and cash pick-up options and is largely focused on handling remittances.
Xe Money Transfers is focused on offering competitive rates across a wide range of currencies and countries, although there are some gaps in its offerings. Unlike Remitly, it doesn’t charge any fees on transfers of CAD $500 or more (there’s a $4 fee for transfers under CAD $500).
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