5 Similar Remittance Companies like Remitly
Making an international money transfer is becoming easier. If you’ve used Remitly before, you may be interested in alternative money transfer companies. Some of them also offer more affordable or convenient ways to transfer money overseas. In this article, we take a look at money transfer companies that are like Remitly and offer similar services.
WorldRemit is similar to Remitly. They both specialise at sending small and regular amounts of money (or remittances) to family and friends in Asia, South America and Africa.
Like Remitly, WorldRemit's fees depend on the amount and where you are sending the money. WorldRemit places a margin on their exchange rates and fixed fee depending on where you're sending money from. They also have a calculator on their website that quotes the total cost of a transfer and the total amount that will be received.
While their exchange rates might not be as competitive, they are fast. You can make instant money transfers with their WorldRemit wallet and they also offer additional services like airtime top-ups. They support international money transfers from over 55 countries in more than fifty currencies. So if you’re making an online transfer, it's worth looking at WorldRemit as an alternative to Remitly.
- Easy online platform and mobile phone app
- Offers cash pick-up, airtime top-ups, instant WorldRemit wallet transfers, and bank deposits
- Transparent costs with accurate calculator tool
- 24/7 customer support
Learn more about WorldRemit
2. Wise (formerly known as TransferWise)
Wise is a peer to peer money transfer service, so the way they transfer your money is different to Remitly. But they're just as secure and their website is also user-friendly. The company’s headquarters is in London and they have offices in New York and Tallinn.
Wise (formerly known as TransferWise) is often recognised for fast transfers and highly competitive exchange rates. Like Remitly, Wise is a great option for smaller transfers up to $10,000. For larger transfers Wise is better than Remitly. The amount you can send within a month is capped at $30,000 with Remitly.
Wise is also a cheaper alternative to Remitly for international bank transfers and for business customers. Like Remitly, Wise is available in over 50 countries.
- Quick online set-up and simple phone app
- Transparent fees and offer the best rates online, based on mid-market rate
- Very fast transfers to a bank account
- Multi-currency accounts available for businesses
Learn more about Wise
Like Remitly, OFX have an easy to use website and app. So if you like doing everything online, either could be a good option. They are also one of the larger global transfer companies. This means they operate in many of the same countries that Remitly do.
- OFX is one of the oldest money transfer companies and they have the expertise to go with it
- Their rates are often better than the banks, especially for larger transfers
- 24/7 phone support
Learn more about OFX
InstaReM is a digital transfer provider founded in 2015 and is more established in Asia. It is built on the premise of instant, low cost online remittances. Competitively matched against Remitly, you’ll likely get better rates and a potentially faster transfers to your bank account. If you’re making a transfer of more than $10,000, they could be a good alternative to Remitly.
- Very good exchange rates and transfer fees, often beating Remitly
- Fast money transfers, often 1-2 business days
- Excellent platform for small-medium sized businesses to pay staff in different currencies and countries simultaneously
Learn more about InstaRem
If you have a PayPal or Xoom account, you've probably already considered making an international money transfer with them. They are one of the world’s most popular payment systems to purchase goods and pay for services. It's also a convenient way to transfer money if they also use PayPal.