Remitly Money Transfer

The Best Remitly Money Transfer Reviews- Is It Trustworthy

September 12, 2022

Remitly is an online payment service headquartered in Seattle, United States. The platform offers international remittance services to over 135 countries. It started operating in 2011 under the leadership of Matthew Oppenheimer, Shivaas Gulati, and Josh Hug. Later in September of 2021, the company became publicly traded on the Nasdaq exchange. This article will mainly major on the Remitly money transfer services so that you can understand how to go about it. 

Every money transfer service operates uniquely. There are variations in the fees charged, the time taken to transfer money from one country to the other, the maximum sending limit, requirements to open an account, and so on. Every consumer wants to understand a particular product to make an informed decision. Remitly has numerous competitors and has put various measures in place to compete with others effectively. 

Opening Process A Remitly Account

Before discussing various company operations, it is essential to understand how you can open an account with the platform. Since it operates online, you must have an internet-enabled device such as a smartphone, computer, or tablet. You also require a secure internet connection and are good to go. 

You can follow the steps below when using your computer to open an account.

  1. Visit Remitly.com 
  2. Choose Join Now
  3. Input your email address and Join

To join using your smartphone or tablet, you can follow the steps below, and you are good to go. 

  1. Download the Remitly app from the relevant store. 
  2. Input the country you’re sending money from
  3. Enter the country you’re Sending money to and choose Next
  4. Enter your email address
  5. Input a password
  6. Choose Join Remitly

How to transfer money on Remitly

Sending money on Remitly is fast and easy. You only require a few minutes to complete the transfer, irrespective of whether you are new to the platform. You can follow the steps below to send money.

  1. Sign in to your account on the Remitly app or Remitly.com.
  2. Tap on the ‘Get Started’ on your app or click on Send money if using your web browser.
  3. Select the best transfer method for you and your recipient
  4. Enter the amount to send. Remitly automatically displays the amount your recipient will receive in their local currency. 
  5. After that, choose the delivery method. You can choose Bank, cash pick up, or directly into their online accounts. If you select Bank Deposit, you should enter some details about your recipient’s bank account. If you choose Cash Pickup, you must choose a convenient pickup point for your recipient. Furthermore, you should provide their email address or other details if sending directly to their Remitly account. 
  6. Next, enter details about your recipient. You should provide their name. You may also provide their phone number so that Remitly can notify them when they receive their finances.
  7. Review your transfer to ensure everything is correct. You can even make changes to the transfer at this stage. 
  8. When ready to transfer, select Send money. 
  9. Lastly, wait for your transfer to process. Remitly recommends you stay on the processing page until you see a confirmation screen indicating that you’re all done!

For effective operation, you should make sure you complete your profile. The steps below can help you to keep your profile in order. 

  1. Enter your name as it appears on your identity document. 
  2. Provide your phone number and address.
  3. Input the date of birth as it appears on your identity document. 
  4. Choose how to pay for your transfers. You should enter your bank account details. Also, you can provide your credit or debit card details or any other applicable payment method. Payment methods may vary depending on your country.  

How much money Can I send on Remitly

Knowing the maximum amount of funds you can send on the platform is very important. That helps you plan how to send a certain amount of money. The amount of money one can transfer varies from where one is sending money, where they are sending to, and the sending limit.

You can check your sending limit in your country online when you visit Remitly.com and search about the sending limits. Again, sending limits can vary from one person to another. Remitly limits how much you can transfer in 24 hours, 30 days, and 180 days. The limits differ from one location to the other, as well as your recipient’s location.

You can request an increase if you need to send more than your current limit. For you to get an increase on the amount you can send per given time, you should provide;

  1. Your full name
  2. Residential address
  3. Reason for sending funds
  4. Your date of birth
  5. Social Security Number (SSN) for US citizens. If you don’t have the SSN, you can provide a copy of your passport. 

Additional money transfer limits may exist depending on your payout or receiving location. You can ask for an increase in your limit by following various steps. When using the Remitly app, you must first sign in and follow the steps below.

  1. Choose on My Remitly.
  2. Tap Increase Limits.
  3. Choose the sending tier you’d like to increase.
  4. Upload any needed details or documents.
  5. Wait for the update notice within 48 hours.

When using the Remitly website, you can follow the steps below. 

  1. Navigate to Remitly.com and sign in.
  2. Choose the Sending limits tab.
  3. Select the sending tier you want to increase.
  4. Select Apply now.
  5. Provide or upload any requested details or documents.
  6. Wait for an update.

How much does it cost to transfer funds on Remitly

The Remitly Economy money transfer option allows you to send funds for fees as low as $3.99 or over $1,000 for $0 to certain countries. There is a promotional rate for first-time users of Remitly who can get a significantly cheaper transfer fee for a limited amount. The promotions depend on the receiving country.

You can send funds with Remitly Express using a debit card when you’re in a hurry. The funds arrive in minutes for a flat fee of $3.99.

Is Remitly Trustworthy

When sending money on Remitly, you can be sure that your money will reach the target recipient securely. The platform also operates securely online, and rarely will you hear cases of hacking of accounts. However, you should ensure that you utilize secure internet connections and never reveal your logging details. 

Bottom line

Remitly is an online payment service headquartered in Seattle, United States. The platform offers international remittance services to over 135 countries. You can open an account online using your smartphone, computer, or tablet. Depending on the country and your account status, there can be limitations on the amount of money you can send. You can send funds as low as $3.99 or above $1,000 for $0 to certain countries.

Posted by Spencer Tierney
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Spencer Tierney is a writer and expert on certificates of deposits at transfermone.com. His work has been featured by USA Today, MSN, SF Gate, the Los Angeles Times, NerdWallet and more. He earned a bachelor’s degree in English at UC Berkeley.