Navigating the world of international money transfers can be daunting, with many variables at play when seeking a reliable service provider. If Remitly alternatives are on your radar, you’re in the right spot. This guide highlights the top alternatives to Remitly, emphasizing secure transactions, competitive fees, and stellar user feedback.
While Remitly has cemented its reputation as a dependable money transfer platform, it’s not without its drawbacks. Notably, in some regions, its fees can be on the higher side, and the platform offers limited transfer avenues. To broaden your horizons and explore the best Remitly alternatives, continue reading. Dive into our comprehensive list of the top 10 contenders in the space.
What IS Remitly?
Based in Seattle, United States, Remitly stands out as a premier online remittance service provider, lauded for its dependable and secure offerings. Catering to over 130 countries globally, Remitly ensures swift transfers, fortified payment methods, and top-tier customer support. Whether you’re settling a bill or transferring funds internationally, Remitly is an exemplary option.
Beyond its primary offerings, Remitly boasts an exclusive feature: home cash delivery in select nations, including Vietnam, the Philippines, and the Dominican Republic.
Remitly pricing and fee:
- Registration and ongoing account maintenance are cost-free.
- Economy Transfer Fee: up to US$3.99
- When receiving USD, the express transfer fee ranges from $4.99 up to $99.99 for larger transfers.
Currency conversion may cost up to 2 percent of the total amount.
Why Consider Alternatives to Remitly?
Remitly’s success in the remittance market has paved the way for a surge of competitors. While Remitly offers a robust platform, some users might encounter challenges with certain features. Key considerations include:
Transfer Limit: Remitly has set limits on the amount of money you can send in a single transaction. If you’re looking to transfer larger sums, this can pose a limitation. Competitors, such as Western Union, often offer higher transfer ceilings.
Exchange Rates: Although Remitly facilitates international transactions, it doesn’t always offer the most favorable exchange rates. Several alternative providers might present better rates, giving users more value for their money.
The 10 Best Remitly Alternatives In 2023
Here is a short list of the best Remitly alternatives available at the moment.
1. Wise
2. WorldRemit
3. Skrill
4. Veem
5. Paypal
6. Payoneer
7. Neteller
8) MetaPay
9) Apple Pay
10) Google Pay
1. Wise
Wise (formerly known as TransferWise) stands out as a prominent Remitly alternative, having secured its position as a leading service in the money transfer industry for over a decade. With rates that are often more affordable than other sites like Remitly, it’s no wonder Wise boasts over 10 million satisfied customers globally, making significant transactions each month.
If you’re exploring apps like Remitly for seamless and transparent international money transfers, Wise is a top choice, free from hidden charges. It’s a go-to option whether you’re transferring funds for personal reasons or business necessities.
Wise pricing and fee:
In addition to creating and maintaining accounts, one can enjoy low fees on various transactions. See the costs and pricing below.
- Free: Creating and maintaining an account is totally free.
- Debit card: It costs $9.
- ATM fee: 2% for US customers but varies for UK and EU.
- Transfer fee: $0.93 (according to your currencies).
- Currency exchange: 0.35% to 0.42% (according to currencies).
2. WorldRemit
As a leading Remitly alternative, WorldRemit offers a swifter and more cost-effective solution for international money transfers. With its reach expanding to cater to 5.7 million users, WorldRemit has witnessed a 10% growth in the number of countries and currencies it serves over the past decade. Unlike other sites like Remitly, WorldRemit provides four distinct methods for recipients to access funds, including deposit accounts, digital cash, and cash pickup.
For those looking for apps like Remitly that simplify the process of sending money abroad, WorldRemit stands out. With over 125,000 five-star reviews, you can trust WorldRemit with your transactions. Plus, with more than 90% of transfers getting approved in just minutes, it becomes a reliable choice for both personal and business money transfer needs.
WorldRemit pricing and fee:
WorldRemit’s exchange rate covers most fees. Payment type, receiving choice, and amount sent affect exchange rates.
- A deposit into a bank will incur a fee ranging from 0.5% to 2%, depending on the amount and country of the deposit.
- There is a 1%–4% fee if you pay your bills online.
- Picking up cash is a 1%–4% fee.
- Mobile phone airtime recharge: 1%–4%
- Every transfer costs an extra $1 to $5.
3. Skrill
As a prominent Remitly alternative, Skrill stands shoulder-to-shoulder with giants like PayPal in the digital payment landscape. Since its inception, Skrill has carved out a niche for itself as a trusted global payment platform, supporting transactions in nearly 200 countries and 40 different currencies. For those seeking sites like Remitly to effortlessly send and receive funds globally, Skrill emerges as a top choice.
One of Skrill’s distinct advantages over other apps like Remitly is its fee-free transfers directly to bank accounts. Additionally, Skrill offers its users the capability to buy and sell cryptocurrencies. However, a point of contention for some users is its relatively high fees for currency exchange. Despite this, it remains a preferred platform for both personal and business digital transactions.
Skrill pricing and fee:
Skrill has different customer plans, so you need to pay the charges as per your requirements.
- Free: Money transfer and receive.
- Send money: Up to 1%
- Send money credit card: Up to 2.99%
- Fee per transaction: Up to 4.99%
Related: Best Venmo Alternatives
4. Veem
Veem may not be as widely recognized as some other digital payment processors, but it has steadily gained traction among users for both domestic and international financial transactions. Tailored to streamline your business’s monetary operations regardless of its scale, Veem stands out as a robust alternative to platforms like Remitly.
What sets Veem apart from other sites and apps like Remitly is its reputation for being one of the safest and swiftest money transfer methods. Its user-centric approach, coupled with an array of benefits, has quickly garnered commendations from its user base. And while its offerings might suggest otherwise, Veem maintains a cost-effective model, ensuring users receive maximum value without straining their budgets.
Veem pricing and fee:
Veem’s fees and pricing vary for different payments. Get a clear idea about them below.
- Free: Bank transfer and receive. Also, for the international payment.
- Fast transfer: 0.5% for the same transfer.
- Check: $1.99 sent.
- Credit card: 2.9% for global.
- Debit card: 1% for global.
- Instant deposit: 1% – min. $1.50.
5. Paypal
PayPal, while a household name in digital payments, emerges as a contemporary Remitly alternative. Globally recognized, it has long been pivotal in facilitating money transfers across borders. Nonetheless, potential users should be aware that in certain regions, PayPal can levy charges up to 5%.
While PayPal is often the go-to for small to medium-sized businesses, those operating in high-risk sectors might need to explore other platforms. Notably, PayPal’s extensive reach covers over 200 countries, making international money transfers a breeze for its vast user base.
PayPal pricing and fee:
PayPal has introduced different charges and fees for users’ convenience.
- Free: No fee for unlisted fundraisers.
- Donate button: 2.89% + fixed fee.
- PayPal fundraisers: 2.99%.
- PayPal checkout: 2.89%.
6. Payoneer
For those scouting for a service akin to Remitly, Payoneer emerges as a commendable alternative. In the vast realm of international online payment service providers, Payoneer has carved a niche for itself, resonating with a multitude of users across the globe.
Especially favored by freelancers on platforms such as Fiverr, Upwork, and Freelancer, Payoneer facilitates swift and hassle-free payments from overseas clients.
A standout feature of Payoneer, distinguishing it from other sites and apps like Remitly, is its provision to offer users bank accounts in multiple countries’ currencies. These accounts function seamlessly, akin to one’s domestic bank account, and can be accessed universally, making Payoneer an invaluable asset for global financial transactions.
Payoneer pricing and fee:
Payoneer charges various fees on money sent, received, transferred, and activity for its users. These are shown below:
- Free: Free invoicing or PDF attaching.
- Sending or receiving payments: 1% for e-check payments and 3% for credit card payments.
- Transferring funds: $1.50 and 2% for domestic funds and non-local currency.
- Transferring balances (between countries): 0.5%/per transfer.
- 1 year no activity: $29.95.
7. Neteller
Among the plethora of digital wallets available, Neteller stands out as a venerable contender. Established in 1999, it has maintained a stronghold in the realm of online payments, consistently ranking high in popularity. Throughout its tenure, Neteller has facilitated countless transactions, continually innovating and enhancing its offerings to better cater to its users’ evolving needs.
With a footprint spanning over 200 countries, Neteller’s extensive user base attests to its reliability and efficiency. Whether for personal or business endeavors, users worldwide have come to depend on and appreciate Neteller as a trusted payment solution, making it a worthy alternative to platforms like Remitly.
Neteller pricing and fee:
Neteller charges various fees on fund transfers mentioned below:
- Free: Receive money.
- Money transfer: It costs up to 4.99%.
- Neteller to Neteller: 2.99% fee.
- Account levels fees: up to 2.99%.
- Buy and sell cryptocurrency: up to 1.50%.
8) MetaPay
In the realm of virtual payment systems, MetaPay emerges as a modern solution, adeptly catering to swift peer-to-peer transactions while ensuring flexibility and security. Initially introduced as Facebook Pay, its evolution to MetaPay has further solidified its footprint in the digital wallet sphere.
Owing to the ubiquity of Facebook among global users, MetaPay has gained traction as a preferred Remitly alternative. The familiar interface and widespread usage of Facebook make MetaPay an inherently convenient choice for many, seamlessly integrating financial transactions into a platform they already navigate daily.
MetaPay fee and pricing
- There is no charge when you’re using MetaPay.
9) Apple Pay
Apple Pay, exclusive to wireless Apple devices, has carved a niche for itself with its user-friendly interface. As its unique selling proposition, the integration of Face ID and passcode security ensures that users’ accounts remain fortified against unauthorized access.
Beyond its intuitive interface, Apple Pay boasts additional compelling features that set it apart from other digital payment platforms like Remitly. A notable perk for users is the 2% cashback on all transactions, enhancing its appeal as a transactional medium.
Prioritizing user security, Apple Pay also offers a robust security mechanism: in the unfortunate event of a lost device, users can remotely disable their phone, ensuring that neither the device nor the Apple Pay account can be misused until recovered.
Apple Pay fee and pricing
- Free: Bank transfer.
- Credit fee: 3%
- Debit fee: Free (1% or $0.25 for instant transfer)
- Transfer limit: $10000.
Check out how Apple Pay Is Killing the Physical Wallet
10) Google Pay
Google Pay, versatile in its design, functions seamlessly on both Android and iOS devices. Additionally, its compatibility extends to various user browsers, making it a universally accessible digital payment platform. For those seeking a hassle-free way to transact with fellow Google Pay users, this platform proves to be an invaluable asset.
One of the standout features of Google Pay, differentiating it from other platforms like Remitly, is its fee-free usage. Users can make instant transfers using just a debit card, adding to the convenience. Moreover, the app’s ability to operate through browser cookies streamlines its use. However, it’s essential to note that for such transactions, a personal account setup requiring email exchanges is mandatory.
Google Pay fee and pricing
- Free: Bank transfer.
- Credit fee: Up to 4%.
- Debit fee: 1.5% or $0.31.
- Transfer limit: $5000.
Final Thoughts
The financial landscape boasts a plethora of money transfer service providers, many of which can rival or even surpass Remitly in terms of features and benefits. If Remitly’s fee structure or service shortcomings have left you seeking alternatives, remember that exploration is the key to finding the right fit for your business.
I trust this piece has illuminated some top-notch Remitly alternatives for your enterprise. If you’re on the hunt for more, you might find value in perusing my curated lists of the best Payoneer and Google Pay alternatives.
Should you harbor any queries or require clarifications regarding this content, please reach out through the contact page. I’m here to help!
Reference:
2) https://www.exiap.com/guides/wise-statistics
3) https://edition.cnn.com/cnn-underscored/reviews/best-mobile-payment-apps
4) https://www.paypal.com/
5) https://www.payoneer.com/
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