Remitly vs Xe Money Transfer

If you’re looking to send a payment overseas you might be debating whether to use Remitly or Xe Money transfer. Both services cover a wide variety of destination countries, with easy ways to set up transfers online or through the provider’s app. But which is best?

This guide covers all you need to know about Remitly vs Xe Money Transfer, to help you decide which suits you. We’ll show a comparison of features side by side, and look in detail at the exchange rates and fees on offer from each.

Summary: Remitly has a focus on helping people send money home to loved ones – with a great range of alternative pay out options like mobile money and debit card deposits. Xe has a great global reach too – but fewer pay out options. However, Xe supports a solid selection of business services, and has far higher transfer limits – which may make it a good fit, depending on what you need.

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Remitly vs Xe Money Transfer: side by side

Remitly and Xe Money Transfer are both reliable international money transfer services. Which works best for you might depend on the specific service you need. Here’s an overview of the features and services you can get from both Remitly and Xe Money Transfer.

FeatureRemitly Xe
Send payments to145+ countries, 75+ currencies130 countries, nearly 100 currencies
Cash pickup serviceYesYes
Cash home deliveryYesNo
Mobile money depositYesNo
Debit card depositYesNo
Fully licensed and regulatedYesYes
Currency risk management for businessesNoYes
Business accountsNoYes

So, to summarize:

  • Xe and Remitly both support a very broad selection of countries and currencies
  • Xe offers payments to select countries for cash collection – Remitly has a broader cash collection offer, plus payments to debit cards, mobile money accounts and for home delivery of cash
  • Xe has international transfer services and currency risk management options for businesses, Remitly is for personal use only
  • Both providers are fully regulated

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The important bits

RemitlyXe Money Transfer
RatesExchange rate includes a markupExchange rate includes a markup
FeesVariable fee based on the country, currency and service requiredNo fee
SpeedExpress payments can be instant, Economy payments take several days1 – 6 days depending on destination and payment type
ServiceOnline, in app and by phoneOnline, in app and by phone
SafetyFully regulated and licensedFully regulated and licensed
Reviews (TrustPilot)4.1 star, Great, 38,000+ reviews4.2 star, Great, 57,000+ reviews

Rates: Xe and Remitly both add a markup to the rate used to convert currencies

Fees: Xe does not charge a transfer fee when sending from the US – Remitly has variable fees based on the service you need

Speed: Remitly offers Express payments which can be almost instant, or Economy transfers which take several days. Xe transfers can take a few days to arrive

Service: Both providers offer multilingual service in a range of languages, online, in-app and by phone

Safety: Both providers are fully licensed and regulatedReviews: Xe and Remitly both score a Great review rating on Trustpilot – Xe has more reviews posted and a slightly higher rating overall.

Pros and cons

RemitlyXe Money Transfer
  • Excellent range of pay out options
  • Choose the service and delivery time that suits you
  • Send to a broad range of countries and currencies
  • No transfer fee for most bank deposit payments
  • Cash collection service available in select countries
  • Business services available
  • No business services
  • Exchange rates include a markup, and there’s a variable fee for transfers
  • Fewer pay out options available
  • Exchange rates include a variable markup

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Remitly vs Xe Money Transfer: The verdict

Remitly and Xe Money Transfer both offer international transfer services for personal customers which can be arranged online or in-app, and deposited to recipient bank accounts. Both cover a really strong selection of countries and currencies from the US, and both offer some payments for cash collection – handy if you’re sending money to someone without easy access to a bank account.

However, Xe Money Transfer and Remitly do differ in a few ways. Remitly has more of a focus on helping people send money to loved ones abroad, and so supports more flexible pay out options compared to Xe, including cash collection in a broad selection of countries, mobile money and debit card deposits, and even cash for home delivery. Xe doesn’t have this same range of pay out features – but it does offer business services, including international transfers and currency risk management products.

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About Remitly and Xe Money Transfer

Remitly has been around since 2011 and was created to make it easier and cheaper to send money home to loved ones. All Remitly payments are arranged online or in-app for convenience, with a great selection of pay out options to suit different customer needs.

You can send payments with Remitly from a selection of larger developed countries, to over 145 countries.

Xe was founded in 1993, and is now part of Euronet, the third largest international transfer provider in the world. Xe has good global coverage, and offers both personal transfers and business services. Businesses can send money overseas, and also access currency risk management products like forward contracts which can make it easier and cheaper to trade internationally.

You can send personal and business payments with Xe Money transfer to over 130 countries.

How do they work?

Both Remitly and Xe Money transfer work fairly similarly for international payments. You’ll first need to create an account online or in the provider’s app. This usually means uploading an image of your ID document – although exactly what’s required depends on the payment you’re trying to make.

Once you have an account you can send a payment easily with either Remitly or Xe Money Transfer. The basic process is the same with each, so you can pick the service you prefer based on the features available and the overall costs.

To send a payment with a provider like Remitly or Xe Money Transfer you’ll need to:

  1. Sign into your account
  2. Select your starting currency and recipient currency
  3. Enter the amount you want to send to get a quote
  4. Add your recipient’s information – their bank or mobile money account details, for example, depending on the service you’ve selected
  5. Pay by card or bank transfer
  6. Check the details, then hit Confirm to send the payment
  7. You’re all done – you can now track the payment in the app

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Remitly vs Xe Money Transfer Fees

Remitly has variable fees based on the transfer destination and type, and may also add a markup to the exchange rate used to convert your dollars to the currency you need. While the exact options do vary depending on the country you’re sending to, you can often choose either a cheaper Economy payment – which will take a few days to arrive – or a faster Express payment. Express transfers could be available in minutes – but may come with higher fees.

Xe Money transfer does not charge any fee for sending payments from the US to bank accounts around the world. Fees may apply if you’re sending for cash collection. In either case, the exchange rate used to convert your payment will include a markup – that’s a percentage fee that’s added into the rate you’re offered.

While sending a payment with a specialist service like Remitly or Xe could mean you pay less overall than using a regular bank, you’ll need to weigh up both the transfer fee (if there is one) and the markup added to the exchange rate to work out exactly what your payment is costing in the end.

Related: Remitly exchange rate and Xe exchange rate

Remitly vs Xe Money Transfer: which is cheaper?

As we’ve covered, specialist providers can often represent really good value for international transfers. But usually the best way to work out which is cheapest for your specific transfer is to get quotes from a couple of services so you can compare the amount the recipient gets in the end.

Let’s look at a worked example. This table looks at how much will be received if you send a payment to a friend in Europe or India, to be received in EUR or INR.

Payments are funded by bank transfer and delivered to the recipient’s bank account:

Amount & CurrencyWith Remitly recipient gets:With Xe recipient gets:Winner?
1000  USD> EUR919.15 EUR912.69 EURRemitly
5000 USD> EUR4,599.75 EUR4,570.89 EURRemitly
1000  USD> INR81,548.17 INR81,740.91 INRXe
5000 USD> INR407.740.84 INR408,704.53 INRXe

*Fees and exchange rates correct at time of research – 28th March 2023

As you can see, the service that is cheapest does depend on the currency you’re sending. You might also find one provider is faster or more convenient than another – which can influence your decision one way or another. Comparing a few different providers means you’ll always know you’re getting the best deal for your needs.

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Remitly vs Xe Money Transfer: which is faster?

How long it takes for an international money transfer to arrive depends on a variety of factors, including the country and currency, the value of the payment, how you fund the transfer and more.

Remitly offers 2 different services in many destination countries – Express payments you can fund with a card, and Economy payments which are paid for using a bank transfer. Express payments might have a higher fee, but they can also be available to your recipient quickly – in just a few minutes for cash collection transfers. Economy payments are often cheaper but can take 3 – 5 days to be deposited.

Xe Money Transfer payments can take a few days to arrive in bank accounts. If you’re paying by card you might find your transfer arrives faster compared to sending a bank wire – but it’ll all depend on the details of the payment. You’ll be able to get a quote for when your transfer arrives before you confirm it, and you can track it in the app once your money is moving.

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Both Xe Money Transfer and Remitly are safe to use. They’re licensed to operate in the US and in the other countries and regions in which they offer services – and they both use industry standard security measures to keep customers and their accounts safe, including dedicated anti-fraud teams.

Learn more about their safety here: Is Xe money transfer safe? and Is Remitly safe?

Ease of use

  • Creating an account: Create your account online or in app with both Remitly and Xe
  • Making a transfer: Both providers allow customers to fund payments with a bank transfer or card. Xe will only let you use a card if you’re sending over 3,000 USD
  • Ways to send money: Xe payments can be sent to bank accounts for deposit – Xe can also offer cash collection transfers to select countries. Remitly offers bank deposits, cash collection and home delivery, and payments to mobile money accounts or debit cards
  • Languages: Xe services are available in 10 languages, with multilingual customer support. Remitly has a chat support service in English, French and Spanish, and phone support in English and Spanish
  • Minimum & maximum amounts: Xe Money Transfers for personal customers are capped at 535,000 USD or the equivalent – cash collection payments have lower caps which vary by destination. Remitly payments have limits set by day, month and 180 day period. You can increase your limits by uploading more documents for verification. Tier 1 accounts can send 2,999 USD a day, while fully verified Tier 3 accounts can send up to 30,000 USD

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Supported currencies

Remitly supports payments to 145+ countries, in 75+ currencies.

Xe supports nearly 100 currencies on major payment routes which cover over 130+ countries.


In our cost comparison, whether Remitly or Xe came out on top for fees varied between different payment types – which means there’s likely to be little to separate them on costs. You might find the best provider for you just comes down to the specific service you need.

Remitly is a strong option if you’re sending a personal payment to a loved one and want it to be collected in cash or deposited to a debit card or mobile money account. Xe doesn’t have quite the same range of pay out options, but it does offer business services and payments, plus it has far higher transaction limits for personal payments – this might make it a better bet if you’re sending a higher value transfer.

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Xe vs Remitly FAQ

Is Remitly or Xe Money transfer cheaper?

In our cost comparisons, there wasn’t much difference between Xe and Remitly on cost – both came out on top for different payments. That means it’s best to compare each provider for your specific transfer, to pick the right one for you – use our handy cost comparison tool to get started.

Is Remitly or Xe Money transfer faster?

The length of time it takes for your transfer to arrive will depend on the details of the service you select. Remitly often has express payment options which can arrive in minutes – but may come with a higher fee. Xe transfers could take a few days to arrive, but you’ll be able to see a delivery estimate in the app before you confirm your transfer.

How many currencies do Remitly and Xe Money transfer support?

Xe supports nearly 100 currencies on major payment routes which cover over 130+ countries. Remitly supports payments to 145+ countries, in 75+ currencies.

Claire Millard
Fintech Content Writer
Claire Millard is a content and copywriter with a specialty in international finance. Her work has featured in The Times and The Telegraph, as well as industry magazines and leading personal finance blogs.
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Seyma Mektepli
Seyma is an experienced content writer and editor-in-chief at Exiap, delivering informative articles on personal finance, and money transfers.
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Last updated
November 2nd, 2023