What is Remitly?

Remitly is a financial technology (fintech) company that provides online international money transfer services. It allows individuals to send money from one country to another, typically targeting the remittance market, where people send money to family members or friends in their home countries. Remitly aims to make cross-border money transfers more convenient, affordable, and transparent for its customers.

Founded in 2011, Remitly has grown to become a prominent player in the online remittance industry and serves customers in various countries, with a focus on facilitating remittances between developed countries and developing countries. The company’s mission is to help immigrants and expatriates send money to their loved ones back home in a more efficient and cost-effective manner compared to traditional banking or money transfer methods.

Please note that my knowledge is based on information available up to September 2021, and there may have been developments or changes in Remitly’s services or operations since that time. Remitly is a digital remittance service that allows people to send money internationally to over 150 countries. It is a fast, affordable, and convenient way to send money to loved ones, friends, and businesses abroad.

To use Remitly, you can create an account online or through the Remitly app. Once you have an account, you can enter the amount of money you want to send, the recipient’s information, and the delivery method. Remitly offers a variety of delivery methods, including bank deposit, cash pickup, mobile money, and home delivery. Remitly’s fees vary depending on the amount of money you are sending, the recipient’s country, and the delivery method. However, Remitly’s fees are generally lower than traditional money transfer services, such as banks and Western Union.

Remitly is a safe and secure way to send money internationally. It uses the latest security technologies to protect your money and your personal information. Remitly is also licensed and regulated by financial authorities around the world.

How Remitly Work?

Remitly’s fees vary depending on the amount of money you are sending, the recipient’s country, and the delivery method. However, Remitly’s fees are generally lower than traditional money transfer services, such as banks and Western Union. Remitly is a safe and secure way to send money internationally. It uses the latest security technologies to protect your money and your personal information. Remitly is also licensed and regulated by financial authorities around the world.  Remitly is a convenient and affordable way to send money internationally. It is a good option for people who need to send money to loved ones, friends, or businesses abroad on a regular basis.

• Create a Remitly account online or through the Remitly app.
• Enter the amount of money you want to send, the recipient’s information, and the delivery method.
• Pay for your transfer using a debit or credit card or a bank transfer.
• Remitly will convert your money to the recipient’s currency and send it to them through their local partner.
• Remitly will notify you and the recipient when the money has been sent and received.

It’s important to note that Remitly and other international money transfer services may have variations in their processes and service offerings based on factors such as the countries involved, local regulations, and the specific features provided by the company. Additionally, fees and exchange rates can vary, so users should review the terms and conditions before initiating a transfer.

Remitly Features

In addition to these core features, Remitly also offers a number of other features that can be beneficial for certain users. For example, Remitly offers a Passbook account, which is a digital wallet that allows you to store and send money internationally. Remitly also offers a number of promotions and discounts throughout the year.

Remitly offers a range of features and services designed to facilitate international money transfers. These features are intended to make the process convenient, efficient, and cost-effective for users. While the specific features available may vary depending on the user’s location and the destination country, here are some common features associated with Remitly.

• Fast transfers:Remitly transfers can be completed in minutes, depending on the delivery method.
• Affordable fees: Remitly’s fees are generally lower than traditional money transfer services.
• Convenience:You can send money from anywhere in the world using the Remitly app or website.
• Security:Remitly uses the latest security technologies to protect your money and your personal information.
• Variety of delivery methods:Remitly offers a variety of delivery methods, including bank deposit, cash pickup, mobile money, and home delivery.
• Transparency:Remitly shows you the exchange rate and fees upfront, so you know exactly how much your recipient will receive.
• On-time delivery guarantee:Remitly guarantees that your transfer will be delivered on time, or they will refund your fees.
• 24/7 customer support:Remitly offers 24/7 customer support in multiple languages.

It’s important to note that the availability of these features and the specific details may vary depending on the sender’s and recipient’s locations, as well as changes in Remitly’s services and offerings over time. Users should check Remitly’s website or app for the most up-to-date information and offerings.

Remitly Pricing

Remitly’s pricing varies depending on the amount of money you are sending, the recipient’s country, and the delivery method. However, Remitly’s fees are generally lower than traditional money transfer services, such as banks and Western Union. You can calculate the fees for your specific transfer on the Remitly website or app. Simply enter the amount of money you want to send, the recipient’s country, and the delivery method. Remitly will show you the exchange rate and fees upfront.

• Transfer Amount: The fees charged by Remitly may vary based on the amount of money you are sending. Typically, the fees increase as the transfer amount goes up.
• Delivery Speed: Remitly offers different delivery speed options, such as economy and express. Faster delivery options may come with higher fees compared to slower options.
• Payment Method: The method you use to fund your transfer can affect the cost. For example, funding your transfer with a credit card may incur additional fees compared to using a bank account.
• Destination Country: The fees and exchange rates can vary depending on the destination country. Some corridors may have more competitive rates and lower fees than others.
• Promotions and Discounts: Remitly may offer special promotions or discounts for certain transfer routes or during specific time periods. These promotions can affect the overall cost of your transfer.
• Exchange Rate Markup: While Remitly aims to provide competitive exchange rates, there may be a markup on the exchange rate that can affect the amount your recipient receives. Be sure to review the exchange rate details before confirming a transfer.

To determine the exact pricing for your specific money transfer, you can visit the Remitly website or use their mobile app. Remitly typically provides a transparent breakdown of fees and exchange rates for each transfer, so you can see the total cost and the amount your recipient will receive before finalizing the transaction. Additionally, you can enter your transfer details to get an accurate quote

Keep in mind that exchange rates and fees may change over time, so it’s a good practice to review the most current pricing information on the Remitly platform before initiating a transfer. This will ensure that you have an accurate understanding of the cost associated with your transaction.

Benefits to Using Remitly

Using Remitly for international money transfers offers numerous benefits that make it a preferred choice for sending money across borders. Here are the key advantages of using Remitly.

In addition to these core benefits, Remitly also offers a number of other benefits that can be beneficial for certain users. For example, Remitly offers a Passbook account, which is a digital wallet that allows you to store and send money internationally. Remitly also offers a number of promotions and discounts throughout the year.

Fast transfers: Remitly transfers can be completed in minutes, depending on the delivery method. This is especially beneficial if you need to send money quickly to a loved one in need.

Affordable fees: Remitly’s fees are generally lower than traditional money transfer services, such as banks and Western Union. This means that you can save money on your transfers, especially if you send money on a regular basis.

Convenience: You can send money from anywhere in the world using the Remitly app or website. This is especially convenient if you live abroad and need to send money to your family and friends back home.

Security: Remitly uses the latest security technologies to protect your money and your personal information. This means that you can be confident that your transfers are safe and secure.

Variety of delivery methods: Remitly offers a variety of delivery methods, including bank deposit, cash pickup, mobile money, and home delivery. This gives you the flexibility to choose the delivery method that is most convenient for your recipient.

Transparency: Remitly shows you the exchange rate and fees upfront, so you know exactly how much your recipient will receive. This eliminates any surprises and allows you to budget for your transfers.

On-time delivery guarantee: Remitly guarantees that your transfer will be delivered on time, or they will refund your fees. This gives you peace of mind knowing that your recipient will receive their money on time.

24/7 customer support: Remitly offers 24/7 customer support in multiple languages. This means that you can get help with your transfer at any time of day or night, regardless of where you are in the world.

Remitly is a well-rounded money transfer service that offers a variety of benefits to its users. It is a good option to consider if you are looking for a fast, affordable, convenient, and secure way to send money internationally.

In summary, Remitly’s combination of convenience, speed options, competitive rates, transparency, security, and customer-centric features makes it a compelling choice for international money transfers, meeting the diverse needs of users and recipients around the world.

Remitly Ease of Use

Remitly is very easy to use. To send money with Remitly, you can simply create an account online or through the Remitly app. Once you have an account, you can enter the amount of money you want to send, the recipient’s information, and the delivery method. Remitly will then show you the exchange rate and fees upfront.

To pay for your transfer, you can use a debit or credit card or a bank transfer. Once you have paid for your transfer, Remitly will send the money to your recipient. Remitly will notify you and the recipient when the money has been sent and received.

• Simple and straightforward interface: Remitly’s website and app are both designed to be easy to use, even for first-time users.
• Clear and transparent pricing: Remitly shows you the exchange rate and fees upfront, so you know exactly how much your recipient will receive.
• Variety of payment methods: Remitly accepts a variety of payment methods, including debit and credit cards and bank transfers.
• Multiple delivery methods: Remitly offers a variety of delivery methods, so you can choose the one that is most convenient for your recipient.
• 24/7 customer support: Remitly offers 24/7 customer support in multiple languages, so you can get help with your transfer at any time of day or night.

In summary, Remitly’s focus on providing a user-friendly experience, combined with its intuitive interface, clear pricing, and helpful features, contributes to its reputation for ease of use. This accessibility makes it an appealing choice for individuals looking to send money internationally with confidence and convenience.

Remitly Customer Support

It’s important to note that the specific availability of customer support channels and languages may vary depending on the user’s location and the version of Remitly’s service they are using. Users are encouraged to visit Remitly’s website or app to access the most up-to-date contact information and support options.

Remitly’s customer support services are designed to assist users in a timely and effective manner, ensuring that their international money transfers are as smooth and worry-free as possible.

Availability: Remitly’s customer support is often available 24/7, ensuring that users can seek assistance at any time, including weekends and holidays. This around-the-clock availability is crucial, especially for users in different time zones.

Contact Channels: Remitly typically provides multiple contact channels through which users can reach customer support. These channels may include live chat, email support, and phone support. The availability of these channels may vary depending on the user’s location.

Live Chat: Many users find live chat to be a convenient way to get immediate assistance. Remitly’s live chat support allows users to interact with a customer support representative in real-time, addressing their questions or issues efficiently.

Email Support: Users can often send detailed inquiries or requests for assistance via email. Remitly’s email support typically provides a written record of the communication, which can be useful for reference.

Phone Support: Remitly may offer phone support for users who prefer to speak directly with a customer support agent. This option can be particularly helpful for resolving complex issues or seeking clarification.

Multilingual Support: To cater to a diverse user base, Remitly may provide support in multiple languages. This ensures that users from different linguistic backgrounds can receive assistance in their preferred language.

FAQs and Help Center: Remitly typically maintains a comprehensive FAQ section and help center on its website or within its app. These resources can often address common questions and provide guidance on using the service effectively.

Assistance with Transactions: Customer support representatives can assist users with various aspects of their transactions, such as tracking transfers, addressing payment issues, and resolving delivery-related concerns.

Security and Account Issues: Users can contact customer support for help with security-related matters, account verification, and password resets to ensure the safety of their accounts.

Feedback and Complaints: Remitly values user feedback and often encourages users to report any issues or provide feedback on their experiences. This feedback helps the company continuously improve its services.

Remitly typically offers customer support services to assist users with their inquiries, issues, and concerns related to international money transfers. Customer support is an essential aspect of Remitly’s commitment to providing a seamless and reliable service. Here are some key aspects of Remitly’s customer support

Is Remitly Worth It?

Whether or not Remitly is worth it depends on your individual needs and preferences. However, in general, Remitly is a good option for people who need to send money internationally quickly, affordably, and securely. Remitly is a good option for people who need to send money internationally quickly, affordably, and securely. However, it is important to compare Remitly’s fees and exchange rates to other money transfer services before making a decision.

• Fast transfers: Remitly transfers can be completed in minutes, depending on the delivery method.
• Affordable fees: Remitly’s fees are generally lower than traditional money transfer services, such as banks and Western Union.
• Convenience: You can send money from anywhere in the world using the Remitly app or website.
• Security: Remitly uses the latest security technologies to protect your money and your personal information.
• Variety of delivery methods: Remitly offers a variety of delivery methods, including bank deposit, cash pickup, mobile money, and home delivery.
• Transparency: Remitly shows you the exchange rate and fees upfront, so you know exactly how much your recipient will receive.
• On-time delivery guarantee: Remitly guarantees that your transfer will be delivered on time, or they will refund your fees.
• 24/7 customer support: Remitly offers 24/7 customer support in multiple languages.

Remitly can be a convenient and cost-effective option for many users, especially those who regularly send money internationally. However, its suitability for your specific needs depends on the factors mentioned above. It’s a good idea to compare Remitly with other money transfer providers and assess the total cost and convenience of the service for your particular circumstances before making a decision.

Sign Up For Remitly

I’m unable to directly sign you up for Remitly or any other service, as I don’t have access to external websites or databases. However, I can provide you with general steps on how to sign up for Remitly. To sign up for Remitly, you can go to the Remitly website or download the Remitly app. Once you have created an account, you will need to provide some basic information, such as your name, email address, and phone number. You will also need to create a password. Once you have created your account, you can start sending money immediately. However, you will first need to verify your identity. This can be done by providing a copy of your driver’s license or passport.

Visit Remitly’s Website: Open a web browser and go to Remitly’s official website. You can also use the Remitly mobile app if you prefer.

Create an Account:

 

Click on the “Sign Up” or “Get Started” button.

You will be prompted to provide your personal information, including your full name, email address, and phone number.

Verify Your Identity:

Remitly typically requires users to verify their identity in compliance with financial regulations. This may involve providing additional personal information and documentation.

Choose a Password:

Create a secure password for your Remitly account. Ensure that it meets the platform’s security requirements.

Select Your Country and Region:

Indicate your current location and the country you are sending money from.

Enter Recipient Information:

If you have the recipient’s details ready, you can enter their information during the signup process. This will make it easier to initiate your first transfer.

Agree to Terms and Conditions:

Read and accept Remitly’s terms and conditions, privacy policy, and any other relevant agreements.

Set Up Security Features:

Depending on your preferences, you may be asked to set up security features such as two-factor authentication (2FA) to enhance the security of your account.

Verify Your Email:

Remitly will typically send a verification email to the address you provided. Click the verification link in the email to confirm your email address.

Add Payment Method:

To fund your transfers, you’ll need to add a payment method. Remitly usually accepts bank accounts, debit cards, and credit cards.

Complete Additional Verification (if necessary):

Depending on your location and the amount you intend to transfer, Remitly may require additional verification steps to ensure compliance with financial regulations.

Start Sending Money:

Once your account is set up and verified, you can start sending money to your desired recipient by entering their details, the transfer amount, and selecting the delivery method. Depending on your location and the amount you intend to transfer, Remitly may require additional verification steps to ensure compliance with financial regulations.

Start Sending Money:

Once your account is set up and verified, you can start sending money to your desired recipient by entering their details, the transfer amount, and selecting the delivery method.

Remitly FAQs

Remitly provides a comprehensive FAQ section on its website and within its mobile app to address common questions and provide guidance to users. While the specific FAQs may change over time, here are some typical questions and topics that you may find in Remitly’s FAQ section.

Please note that the specific FAQs and information provided by Remitly may change over time, so it’s a good practice to visit the Remitly website or app and access their most up-to-date FAQ section for detailed and current information. If you have specific questions or concerns about Remitly’s services, their FAQ section is a valuable resource to find answers and guidance.

Remitly’s fees vary depending on the amount of money you are sending, the recipient’s country, and the delivery method. However, Remitly’s fees are generally lower than traditional money transfer services, such as banks and Western Union. You can calculate the fees for your specific transfer on the Remitly website or app. Simply enter the amount of money you want to send, the recipient’s country, and the delivery method.

Remitly will show you the exchange rate and fees upfront. Remitly transfers can be completed in minutes, depending on the delivery method. For example, bank deposits and cash pickups are typically completed within minutes. Mobile money transfers can take up to 24 hours to be processed.

Home deliveries can take up to 5 business days to be delivered. Remitly offers a variety of delivery methods, including bank deposit, cash pickup, mobile money, and home delivery. The delivery methods available will vary depending on the recipient’s country. Yes, Remitly is safe. Remitly uses the latest security technologies to protect your money and your personal information. Remitly is also licensed and regulated by financial authorities around the world.