There are a number of great Remitly alternatives, each with its own unique advantages.
- For bank-to-bank transfers, Wise and Revolut are good alternatives for saving on fees for bank-to-bank transfers. Apart from low transfer fees both also have multi-currency accounts and cards which makes them useful in other ways.
- For card transfers, PaySend’s card-to-card transfers can be practically instantaneous and therefore a better option than Remitly’s Express option.
- For cash transfers, WorldRemit is the closest alternative to Remitly. If you need to send money in a currency that is not supported by Remitly, WorldRemit may be a better option.
- Panda Remit and Instarem are good alternatives for frequent small transfers to Hong Kong, China, Singapore, Malaysia, India, Philippines, Australia, New Zealand, Canada, Europe, and the US.
Our aim is to provide you with a comprehensive analysis of reliable alternatives, each offering unique advantages that will suit your special needs and preferences.
Let’s dive and find the perfect alternative for you!
Disclosure: This post contains affiliate links and savings on transfers if you use some of the links! For more information, see my disclosures here.
1. Quick Look
Which Remitly alternative is right for you?
Before you dive deeper, check out our quick snapshot.
2. When Remitly Works and When It Doesn’t
2.1 When Remitly Works
Affordable transfers worldwide: No matter where your loved ones are, Remitly has got you covered. They offer cash, bank, and even mobile wallet transfers to over 130 countries.
Speed and cost flexibility: Need to send money urgently? Or are you more concerned about minimizing transfer fees? With Remitly, the choice is in your hands. Their Express option, funded by credit and debit card transfers, ensures quick transfers but at a slightly higher cost.
On the other hand, if you’re not pressed for time and prefer a more economical route, their Economy option, funded by bank transfers, is a great choice.
2.2 When Remitly Doesn’t Work
Business transfers: If you’re a business looking to send money abroad to pay your vendors or contractors, Remitly might not be the right fit for now. Their focus is primarily on personal transfers. (below)
Large transactions: Remitly’s strength is making small transfers seamless and affordable. However, this means if you’re eyeing a significant amount — anything above $7000 USD/£4000 GBP/€4500 EU/$9500 CAD/AUD — you’d need to explore other platforms (below).
For non-residents of supported countries: They only support registrations from 28 select countries, including the US, UK, EU countries, and Australia. If you live outside of these regions, you may want to check out our other alternatives – especially their closest competitor WorldRemit (more below).
3. WorldRemit – Remitly’s Closest Competitor
About: Both WorldRemit and Remitly are close competitors because they make cash transfers so much more affordable than traditional remitters like WesternUnion, MoneyGram, and Ria.
WorldRemit is available in 50 countries and lets you send money to 130+ countries in 70+ – you can transfer cash, bank transfers, send money to mobile wallets, and even Airtime top-ups (supported methods may vary by location).
Get the low down on WorldRemit in our in-depth review – WorldRemit (review).
Wide coverage: Send money to 130+ countries in 70+ currencies
Many payout methods
WorldRemit has a service fee and also charges a margin on the exchange rate.
Plus, there might be other fees like card fees (credit card cash advance fee), sending and receiving bank fees, and agent fees (for cash transfers).
Support: Country-specific phone numbers, FAQs, email
Verdict: How does WorldRemit compare with Remitly?
You may want to choose WorldRemit if you live in a country that Remitly doesn’t support and wants access to more currencies (WorldRemit supports 70+ currencies).
And while WorldRemit doesn’t have an Express option for transfers, if you choose to fund your transfer with a credit card, transfers go through in minutes if not hours.
Use WorldRemit if you want access to more currencies and if you live outside Remitly’s supported regions.
4. Wise – Affordable Bank Transfers and More
Wise has made a name for itself with its transparent fee structure and the promise of using real exchange rates.
Wise lets its users send money to over 160 countries in 40+ currencies.
They also offer a robust multi-currency account, which lets you hold and manage money in multiple currencies – ideal for travelers, freelancers, and global businesses. The account also comes with a debit card that can be used globally.
|Transparent Pricing:||With Wise, what you see is what you get. No hidden charges.|
|Multi-currency Account with debit card:||Hold, manage, and convert between 40+ currencies|
|Real Exchange Rate:||They use the mid-market rate, which often translates to low fees for small bank transfers|
They charge a percentage of the transaction amount (0.66% on average and often much lower for major currencies) and no margin on the exchange rate. If you are wondering, that means they are very inexpensive.
But if you can only use a card to fund the transfer there can be a higher fee fees, especially if using a credit card but the good news is they will tell you.
Wondered how Wise keeps bank-to-bank transfers affordable? Watch this video.
Support: Email support
Verdict: How does Wise compare with Remitly?
While Remitly focuses on fast and affordable remittances, Wise’s appeal lies in its multi-currency capabilities and affordable bank-to-bank transfers to and from anywhere.
Wise doesn’t have an express transfer option like Remitly, but over 50% of transfers arrive instantly (under 20 seconds). And if you fund your transfer with a credit card, it can also mean faster transfers.
Choose Wise if you’re managing multiple currencies as a frequent traveler, freelancer, or global business or want low, transparent rates for payments and bank transfers.
5. Revolut – No-fee* local transfers
While Remitly has made its mark by making cash remittances affordable, Revolut blends the best of open banking with swift transfers. The result is great.
They also have many account tiers – including a standard tier and dedicated, low-cost accounts for freelancers.
Get all the nitty-gritty details with our full review – Revolut (review).
|Multi-currency Banking:||Seamlessly handle money in over 30 currencies.|
|No-fee Transfers:||Within the SEPA and to fellow Revolut users.|
|Many extras:||From budgeting tools to cashback* offers and even complimentary airport lounge access, they offer many perks – especially if you have a paid account.|
Revolut’s fees depend on the account type – you usually pay a monthly fee for the type of account you subscribe to.
There are also other fees involved like processing fees and variable exchange fees. Nonetheless, these fees are all visible on the app before you proceed with the transaction.
Transfers to other Revolut users, local payments, and SEPA payments are completely no-fee.
But watch out when you’re spending abroad or withdrawing from ATMs – there are fees and limits. And don’t forget the 1% markup if you’re exchanging currencies on the weekend.
Support: In-app chat or phone support depending on your plan subscription
Verdict: How does Revolut compare with Remitly?
Revolut shines with its no-fee SEPA (Euro) transfers and as an open bank with many cool money management features like savings pots, budgeting and analytics, splitting bills with friends, dedicated business accounts and tools, support for freelancers, etc.
Pick Revolut if you’re after more than just transfers: think open banking, budgeting, and benefits in one sleek package.
6. PaySend – Card-to-card transfers
About: With PaySend, sending money internationally is almost as easy as sending a text.
They’re available in 50+ countries and let you send card-to-card transfers to 170 countries – This means fewer intermediaries, potentially faster transfers, and a streamlined experience.
For a deeper dive, check out our detailed review – PaySend (review).
|Card-to-Card Transfers:||Bypass bank accounts and send directly to another card|
|Global Reach:||Covers over 170 countries|
|Multi-currency account:||Available in the UK and EEA and supports 8 currencies|
|Business payments||Get paid for as low as 1.4% per transfer|
PaySend’s has a flat fee that varies by location:
USA: $2 USD
UK: £1.00 GBP
Canada: $3 CAD
Eurozone: €1.50 EUR
Australia: $3.00 AUD
They also charge a margin on the exchange rate and a cash advance fee may be applicable if you send with a credit card.
Support: Email and chat support (on the website)
Verdict: How does PaySend compare with Remitly?
PaySend’s card-to-card feature for personal and business users is a game-changer. They also offer a multi-currency account.
Consider PaySend card-to-card if lightning-fast transfers are a priority to a wide number of global countries (personal and business) and if you want a simple multi-currency account to live and travel in the UK and EEA.
Watch this short and simple guide video that will help you understand how PaySend can make your international money transfers hassle-free.
7. Panda Remit – Transfers to Asia and Europe
About: Hong Kong-based company PandaRemit may be new, but they’re already making waves with their fast, low-cost transfers to many Asian and European countries.
Panda Remit is available in the EU, UK, Australia, Canada, New Zealand, Hong Kong, and Singapore.
Get the lowdown on Panda Remit in our in-depth review here – Panda Remit (review)
Easy and fast transfers from and to Asian and European countries
Panda Remit’s service fee ranges between $1.99-5.99 USD / £5.99 GBP / $18-30 HKD / $ 3- 5.99 AUD, which stands out when you compare it to the usual bank charges between 5-7%.
They also charge a low margin on the exchange rate of about 0.1% to 2%.
Support: Country-specific phone support and email
Their fast transfers and low fees can be very attractive to expats and immigrants in the supported countries.
However, PandaRemit has limited support for countries in North and South America, Africa, and the Middle East right now.
Use Panda Remit if you want to send money affordably to friends and family in India and China.
8. Instarem – Low-cost business and personal transfers
Instarem offers affordable and fast bank-to-bank transfer payments for both personal and business users from Singapore, the UK, the US, Europe, Australia, Canada, Hong Kong, Malaysia, India, etc.
Learn more about InstaRem in our deep dive review – InstaRem (review).
|Wide reach:||Transfer money to over 55 countries.|
|Dedicated Business Accounts:||Businesses have access to global receiving accounts in six key currencies|
|Affordability:||Very low service fees|
Instarem’s fee structure is transparent:
Instarem’s Send Fee: A service fee, typically around 0.25% to 1% of the transferred amount.
Margin on the exchange rate: Instarem charges a margin on the mid-market rate, which can vary based on the currency.
Other fees: These include bank fees or card fees, depending on how the transfer is funded.
Support: 24/7 chat or email support
Verdict: How does Instarem compare with Remitly?
The key appeal of Instarem lies in its transparent fee structure and low-cost transfers for personal and business users.
Opt for Instarem if you plan on frequent smaller bank-to-bank transfers (to friends and family or as a growing global business that primarily deals in SGD, USD, GBP, EUR, AUD, and HKD).
There are many things Remitly do well – like giving you the option to choose how fast you want your money to arrive (and thus the fees) and your payout methods.
In fact, they’re changing the game for expats and immigrants who want to support their families back home without having to pay high bank fees or the premiums charged by the likes of WesternUnion, MoneyGram and Ria.
There are many great alternatives to Remitly that can offer you more savings, more supported countries, and better customer support. Depending on your needs and preferences, you can choose from the following platforms:
WorldRemit is the closest alternative to Remitly, both offer cash transfers that are more affordable than traditional remitters like WesternUnion, MoneyGram, and Ria. You should use WorldRemit if you need more currency options and if you live in a region that Remitly does not support.
Wise is a great option for multi-currency and affordable bank-to-bank transfers to and from anywhere. We think you should choose Wise if you deal with multiple currencies as a frequent traveler, freelancer, or global business or if you want low, transparent rates for bank transfers.
In some countries, Wise also offers a fast transfer option, but it comes with an extra cost, similar to Remitly’s express option.
If you want more than just transfers, Revolut might be the right alternative for you. Revolut is an open bank that offers many cool money management features like savings pots, budgeting and analytics, splitting bills with friends, dedicated business accounts and tools, support for freelancers, etc. Revolut also offers no-fee SEPA transfers and different tiered packages. (Read more reviews above)
If you are sending to a card, you may want to try PaySend’s card-to-card transfer instead of Remitly’s express option. PaySend’s card-to-card transfer is near-instant, has global coverage (personal and business) and offers a simple multi-currency account to live and travel in the UK and EEA. (Read more reviews above)
Panda Remit is a specialized platform for sending money to friends and family in India, China and other Asian countries. Panda Remit offers competitive exchange rates and low fees for your money transfers. You can also enjoy the convenience and security of its user-friendly interface and its efficient transfer process. Panda Remit is a better option than Remitly if you want to save money and time on your remittances to Asia. (Read more reviews above)
You may prefer Instarem if you are looking for transparent fees and low-cost transfers for personal and business purposes. Instarem is ideal for you if you regularly do small bank-to-bank transfers to friends and family or if you are a growing global business that primarily works with SGD, USD, GBP, EUR, AUD, and HKD. (Read more reviews above)
For a limited time, you can enjoy a special exchange rate and zero fees* on your first transfer with Instarem (opens a new tab)
To find the best Remitly alternative, you should compare different services based on their fees, exchange rates, transfer speed, and customer support. You can use our Quick Table (above) comparison to see how these top contenders stack up.
What is better than Remitly?
Wise, WorldRemit, Revolut, Panda Remit, Paysend, and Instarem are some of the alternatives, each with its own features and advantages. What is better depends on your specific needs and preferences.
Is WorldRemit same as Remitly?
No, they are not the same. WorldRemit and Remitly are different digital remittance services that let you send money abroad. They have some similarities, but they also have some distinct features and differences.