Yes, you can transfer money from Remitly to a bank account
Remitly is a money transfer service, so moving funds from your Remitly account to a bank account is one of its main purposes. The process is straightforward: you link a bank account to your Remitly profile, then request a withdrawal. Remitly sends the money to that bank account, and it arrives within one to three business days in most cases.
The key thing to understand is that Remitly itself is not a bank — it is a service that holds money temporarily while it processes transfers. Your Remitly balance is not the same as a savings account. Once you move money out to your bank, it sits in your actual bank account, which is insured and regulated differently.
Key Takeaways
- You must link a bank account to your Remitly profile before you can withdraw money, using your account number and routing number.
- Transfers from Remitly to a linked bank account usually take one to three business days, though timing depends on your bank and the day you request the transfer.
- Remitly charges a fee for most withdrawals, though the amount varies by transfer method and your account type.
- You can link multiple bank accounts to one Remitly profile and choose which one receives each withdrawal.
How to link your bank account to Remitly
Open the Remitly app or website and go to the settings or account section — the exact location depends on whether you use mobile or desktop. Look for "Linked Accounts," "Bank Accounts," or "Withdrawal Methods." Select the option to add a new account.
You will need your bank's routing number and your own account number. Your routing number is a nine-digit code that identifies your specific bank branch; you can find it on a check, by calling your bank, or by searching your bank's name plus "routing number" online. Your account number is printed on your checks or visible in your online banking portal. Enter both, confirm the account holder name matches your Remitly profile, and submit.
Remitly will verify the account by depositing two small amounts (usually under one dollar each) into your bank account within a few days. Once those deposits arrive, you return to Remitly and confirm the exact amounts. This confirms you own the account and prevents fraud. After verification, the account is ready to receive withdrawals.
The withdrawal process and how long it takes
Once your bank account is linked and verified, withdrawing money is straightforward. In the Remitly app or website, select "Withdraw" or "Send to Bank," choose the linked account you want the money to go to, enter the amount, and confirm. Remitly will show you the fee before you complete the request.
The money typically arrives in your bank account within one to three business days. The exact timing depends on when you submit the request (requests made on weekends or after your bank's cutoff time may not process until the next business day) and how quickly your specific bank processes incoming transfers. Some banks are faster than others. If you do not see the money after three business days, contact Remitly support with your transaction number.
Fees for bank transfers from Remitly
Remitly charges a fee for most withdrawals to a bank account. The fee amount varies depending on which transfer speed you choose — faster transfers cost more, slower transfers cost less. Remitly also offers occasional promotions where the first withdrawal or a certain number of withdrawals are free, though these change regularly.
The fee is deducted from your Remitly balance before the money leaves, so if you have $100 and the fee is $2, your bank account receives $98. Always check the fee amount on the confirmation screen before you submit the withdrawal request. Some Remitly account types (such as paid membership plans) may have lower fees or free transfers, so review your account settings to see what applies to you.
What happens if your linked bank account information changes
If you close the bank account you linked to Remitly, you will need to remove it from your profile and link a different account before you can withdraw again. If your account number changes but the bank stays the same, update the account number in your Remitly settings.
If you attempt a withdrawal to an account that no longer exists or has incorrect information, Remitly will usually reject the transfer and return the money to your Remitly balance. You can then correct the account details and try again. Contact Remitly support if a withdrawal fails and the money does not return to your balance within a few days.
Transferring to accounts in different names
Remitly requires that the bank account you link be in your own name or in a joint account where you are listed as one of the account holders. You cannot withdraw directly to someone else's account. If you need to send money to another person, you have two options: withdraw to your own account first and then transfer it to them through your bank, or use Remitly's person-to-person transfer feature if the recipient is in a country where Remitly operates.
Some people set up a joint account specifically to receive Remitly transfers on behalf of a family member, which is allowed as long as you are a legal account holder. Confirm with your bank that you can link a joint account to Remitly before you attempt it.
Frequently Asked Questions
How do I know if my bank account is successfully linked?
After you verify the two small deposits Remitly sends, the account will appear in your list of linked accounts with a status showing it is active or verified. You can then select it as a withdrawal destination. If verification fails, Remitly will notify you and you can try linking again.
Can I withdraw my entire Remitly balance at once?
Yes. Enter the full balance as the withdrawal amount and submit. The fee will be deducted from that amount, so your bank account will receive the balance minus the fee. You can withdraw any amount from zero up to your full balance.
What if I linked the wrong bank account by mistake?
You can remove the account from your Remitly profile at any time in your settings. straightforward delete it and link the correct account instead. If you already submitted a withdrawal to the wrong account, contact Remitly support when ready with your transaction number so they can stop the transfer if possible.
Do I need to verify my identity again to withdraw money?
Remitly verifies your identity when you first create your account. You do not need to reverify for each withdrawal. However, if you change your profile information or Remitly suspects unusual activity, they may ask you to verify again before processing a withdrawal.
Is there a limit to how much I can withdraw at one time?
Remitly sets withdrawal limits that vary by account type and how long you have been a customer. Check your account settings or contact Remitly support to see your specific limit. You can usually withdraw multiple times if you hit the limit, so you can split a large withdrawal into smaller ones.