If you’re looking to send money overseas, the many options available can get a bit overwhelming. While OrbitRemit is Australia and New Zealand’s most trusted online money transfer platform, they’re not the only option.
One alternative in the digital money transfer market is Remitly. Remitly is based in Seattle, United States. It was founded in 2011 with the aim to help migrants send money abroad.
In this article, we’ll go through the key features of Remitly and how they can help you to send money overseas.
What currencies does Remitly support?
Remitly supports 75 currencies across 150 countries worldwide, with the ability to send money from 17 countries. In Australia, Remitly enables payments to 50+ countries.1
What does Remitly charge for an international money transfer?
The cost for making a transfer with Remitly depends on the destination country. Fees may include an exchange rate margin and a transfer fee. For some transfers, customers can choose a faster transfer option for a higher fee or a slower transfer for a cheaper payment.
To find out how much your transfer will cost, visit Remitly’s pricing page. Input the correct send and receive countries, and the current exchange rate and fees will be displayed.
What is Remitly’s exchange rate?
Remitly uses an exchange rate which typically includes a small markup on the mid-market rate. The exact exchange rate depends on your destination country2. To find out what it is, enter the details of your transfer in the Remitly app or website.
How long does a money transfer with Remitly take?
The delivery speed when using Remitly to transfer money varies depending on transfer method, send and receive countries and currencies, and collection methods.
As mentioned above, some currencies have options to choose an express or economy payment. With an express payment, your funds could be received within minutes. Economy payments take a few days to arrive but are cheaper3.
How to sign up with Remitly?
To sign up with Remitly, select Join Now on their website or download the Remitly app to register a new account. Enter your email address and choose a password to create your account.
Once your account has been made, you’ll need to provide some verification documents to prove your identity. Remitly has 3 ‘tiers’ of accounts based on sending limits. To open a Tier 1 account, you will need to provide your full name, residential address and date birth4.
For Tier 2 and 3 accounts, you may be required to provide additional information about how you will use Remitly and proof of transactions (bank slip, payslip etc).
Once registered, choose the country you’ll be sending from and to, and press Get Started or Send Money.
How to contact Remitly?
If you need help with Remitly, you can search for your question on their Help Centre page. If you need further assistance, try their online chat function or call them using the phone number relevant to your country5.
Can I trust Remitly with my money?
Yes you can. Remitly is licensed to do business in all the countries that they operate in. These licensors have strict security and protection processes that have to be followed.
Remitly also utilises technology and predictive tools to detect any suspicious activity on your account, and keeps your payment method safe as a Payment Card Industry certified company6 .
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If you found this page while comparing options for online money transfer, you’re in the right place! As we already mentioned, OrbitRemit is Australia and New Zealand’s most trusted international money transfer platform, with an excellent 4.9/5 star rating on Trustpilot from over 30,000 reviews. Don’t believe us? Check out what our happy customers have to say about our services here.