Remitly — fees, features, catches and eligibility
Important: This guide provides general information, not personalised financial advice. Financial products, rates and eligibility rules can change, so check the provider’s current terms before applying. Some links are referral links — we may earn a commission. You can check a firm’s details on the FCA Register.
Quick answer
Is Remitly a good way to send money abroad? It suits people sending to family where cash pickup, a mobile wallet or home delivery is useful. Fixed fees often sit around £1.99 (Economy £1.99 / Express £2.99 on some corridors), but Remitly’s own exchange rate includes a margin, so compare a live quote with Wise or Revolut (as of 12 September 2026).
Who it’s for — and who should avoid it
Who it’s for
- People sending to family abroad who need cash pickup or mobile-wallet payouts
- Senders whose recipient doesn’t have a bank account
- Anyone who wants to choose between faster Express and cheaper Economy
- People sending one-off amounts rather than holding currencies
Who should avoid it
- Anyone who wants to hold several currencies — Remitly is send-only
- People relying on first-transfer promo rates as the ongoing price
- Anyone funding by card without checking the extra cost
- People who need FSCS protection on money in transit
Key features
- Send-only: the recipient doesn’t need a Remitly account
- Payouts to bank, cash pickup, mobile wallet or delivery, depending on the corridor
- Express and Economy speeds
- Remitly says 90%+ of funded transfers complete in under an hour (Q1 2026 metric)
Eligibility
- UK senders; verification required
- Personal maximum up to £75,000 per transfer (verification may set a lower limit), plus 24-hour, 30-day and 180-day caps
- Remitly U.K., Ltd is a payment institution (FRN 728639)
Fees
| Item | Detail |
|---|---|
| Transfer fee | Often about £1.99; some corridors Economy £1.99 / Express £2.99 |
| Exchange rate | Remitly’s own rate, including a margin |
| First transfer | Marketing often says no fees for new customers; promo rates not ongoing |
| Card funding | Can add cost |
Where these facts come from: our money transfer page (as of 12 September 2026).
The catch
Promo exchange rates often apply only to the first £500–£1,000 and aren’t ongoing. The rate can change after you start, cash-pickup partner fees may not show on static UK pages, and card funding can add cost. Remitly is a payment institution, not a bank, so the FSCS doesn’t apply.
FAQs
Is Remitly covered by the FSCS?
No. Remitly U.K., Ltd is a payment institution, so FSCS deposit protection doesn’t apply.
How much does Remitly charge?
Fixed fees often sit around £1.99, with Economy £1.99 and Express £2.99 on some corridors (12 September 2026). The exchange rate includes a margin, so check the total.
Is Remitly cheaper than Wise?
It depends on the corridor and amount. Wise uses the mid-market rate plus a fee; Remitly uses its own rate. Run live quotes for the same amount on both.
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