Remitly Money Transfer Mobile App: Remitly is a web-based money transfer service provider that helps you with various options of sending money at a fast rate from the U.S to over 90 other countries, especially in America as a whole. Top competitors with the “Delivery within minutes” options tend to charge higher fees. But with Remitly, delivery speed and price is being balanced to a decent level.
It usually has a fixed fee around $4 for money transfer, depending on the payment method used, amount sent, and receiving country. The exchange rates on Remitly generally have a rate mark up from below 1% to just below 3%, and this depends largely on the payment method and currency.
The Remitly platform is majorly the best for you if what you want is cheaper and faster options to make money transfer, and easy to use mobile app experience.
Advantages of using the Remitly Money Transfer App
Cheap delivery options (Free in some cases): The “Economy” option on Remitly allows you to make transfers for as low as $3.99 on service fee. You can also send up to $1,000 to some countries for free at no cost.
Quick delivery: With Remitly, money can be delivered within just a few minutes if you make use of debit card payment option.
Special rates for promo: There is a significantly cheaper promo rate for a limited amount of money when you are a first time user. And this depends on the receiving country of transaction. Note that according to the terms on Remitly, the expiration dates on this kind of promo can be changed by them at any time they deem it necessary.
Robust and Reliable Customer care service: There is availability of round the clock phone customer service and live chat in both English and Spanish. This also includes French for the live chat. The Remitly platform also has a section for FAQ on its website, and is available in up to 11 different languages.
Very durable mobile experience: The Remitly mobile app offers a positive experience, with up to 4.9-star rating for iOS users and 4.8-star rating for Android users, both on a scale of 1 to 5 stars.
Disadvantages of Remitly
Sending limits: Depending on how much info you provide for identity verification of your account, you are limited to sending $2,999 to $10,000. This is quite low compared to some other competitors. Some competitors don’t even have limits to how much you can send.
Fees on Credit card Transactions: There is an extra 3% transaction charge on every funds transfer with a credit card. This is similar, and in some cases, to an extent less than what some other what some other competitors charge.
A bit longer time of delivery for the Economy Option: Using your bank account to make cheaper transactions may take up to three to five business days for delivery.
Money Transfer Options and Methods on Remitly
There are several ways of money transfer on Remitly. Take a look at a breakdown of them for you below.
Payment Options on Remitly: Available options are credit card, debit card, and a U.S bank account — this is standard for many online payment service providers in the U.S. You are also allowed to make payments on Remitly with a prepaid debit card.
Channels for money transfer: The Remitly mobile app and the website are the two sending channels for now.
Limits on Money transfer: Within the first 24 hours of registering on the Remitly money transfer app or website, you can only make a maximum transfer of $2,999. If you go ahead to provide required additional details on your account, you limit will be increased to $6,000. And if you also provide more additional details on your usage of Remitly as required, your limit of transfer will further be increased to $10,000. Within a month, the amount of money you can transfer is capped at $30,000. Some other service providers do not actually have a cap or transfer limit.
Options for delivery: The delivery options offered may be Mobile account deposit or home delivery; Cash pickup at stores, pharmacies or banks; Bank deposit at the bank of the recipient.
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