A Remitly payment is money sent from one person to another across countries using Remitly's app or website
Remitly is a money transfer service that lets you send cash to someone in another country without using a bank. You put money in through your bank account, debit card, or credit card in the United States, and the recipient gets it in their local currency in their country. The service operates in over 170 countries and territories, though not every country can receive money the same way.
The core transaction is straightforward: you enter the recipient's details, choose how much to send, pick a delivery speed, and pay a fee. Remitly then moves that money across borders and converts it to the local currency. The recipient collects it through a bank deposit, cash pickup, or mobile wallet, depending on what Remitly offers in their country.
Key Takeaways
- Remitly transfers money from the United States to over 170 countries, converting to local currency and depositing directly into a bank account or paying out at a pickup location.
- You fund a Remitly transfer using a U.S. bank account, debit card, or credit card, and the fee depends on the destination country and how fast you want the money to arrive.
- Delivery times range from minutes (Express) to one to three business days (Standard), with Standard transfers usually costing less or nothing.
- The recipient does not need a Remitly account; they provide their bank details or pick up cash at a partner location, and Remitly handles the currency conversion.
- Remitly reports transfers to the U.S. Treasury for compliance with anti-money-laundering rules, so you will need to verify your identity before sending.
How you send money through Remitly
You start by downloading the Remitly app or visiting their website and creating an account. Remitly will ask you to verify your identity with your Social Security number, date of birth, and address. This is required by U.S. law for any money transfer service.
Once verified, you enter the recipient's name, country, and how they want to receive the money—bank deposit, cash pickup, or mobile wallet. You then enter the amount in U.S. dollars, and Remitly shows you the exchange rate, the fee, and how much the recipient will get in their local currency. You choose your delivery speed (Express or Standard), complete payment from your bank account or card, and the transfer begins.
The recipient does not need to do anything on their end except provide their bank account number or show up at a pickup location with identification. Remitly handles the currency conversion and deposits the money or holds it for pickup.
Delivery speeds and what they cost
Remitly offers two main delivery options: Express and Standard. Express typically arrives within minutes to a few hours, depending on the country and time of day. Standard takes one to three business days. The fee structure varies by destination country and delivery method, but Standard transfers are usually cheaper or free, while Express carries a higher fee.
The exact fee is shown before you confirm the transfer, so you know the total cost upfront. Remitly also displays the exchange rate they are using, which may differ from the mid-market rate because Remitly adds a margin. This margin is how they make money on the transaction.
Where Remitly can send money
Remitly operates in over 170 countries, but the way money arrives depends on local infrastructure and partnerships. In some countries, recipients can receive money into a bank account. In others, they must pick it up in cash at a partner location. Some countries support mobile wallet deposits.
Before you send, Remitly shows you which delivery methods are available in the recipient's country. If the country you want to send to does not appear in Remitly's list, they do not currently offer service there. You can check their website or app to see the full list of supported countries and delivery methods.
Identity verification and compliance requirements
Remitly is required by U.S. law to verify your identity before you can send money. This is part of anti-money-laundering compliance overseen by the Financial Crimes Enforcement Network (FinCEN). You will need to provide your full name, date of birth, address, and Social Security number.
Remitly may also ask for additional information or documents if your transfer is large or if their system flags it for review. This is normal and does not mean you have done anything wrong—it is a standard check. The verification process usually takes a few minutes, though in some cases it can take longer.
Once verified, you can send multiple transfers without re-verifying each time, as long as your information stays current. If you move or change your name, update your account so transfers do not get delayed.
Fees, exchange rates, and what affects the total cost
The total cost of a Remitly transfer depends on three things: the base fee, the exchange rate markup, and the delivery speed. The base fee is a flat amount that Remitly charges for processing the transfer. This fee varies by destination country—sending to Mexico costs less than sending to the Philippines, for example.
The exchange rate Remitly uses is not the mid-market rate you see on financial news sites. Remitly adds a margin to the rate, meaning the recipient gets slightly less in local currency than they would if you converted at the true market rate. This margin is transparent—Remitly shows you the exact rate before you confirm.
Choosing Express delivery adds a fee on top of the base fee. Standard delivery is usually cheaper or free. The recipient's delivery method (bank deposit versus cash pickup) does not change the cost to you, but it may affect how quickly they get the money.
When a Remitly transfer might not go through
A transfer can fail or be delayed if the recipient's bank details are incorrect, if their country has restrictions on receiving foreign money, or if Remitly's compliance team flags the transaction for review. If the transfer fails, Remitly refunds the money to your original payment method, though this can take several business days.
Some countries have government restrictions on receiving money from abroad, or their banks do not work with Remitly's partner network. In these cases, you will see a message when you try to send that the country is not supported for that delivery method. Cash pickup is sometimes available even when bank deposits are not.
If you send money to the wrong person or change your mind, contact Remitly when ready. If the transfer has not been picked up or deposited yet, they may be able to cancel it and refund you. Once the recipient has collected the money, it cannot be reversed.
Frequently Asked Questions
Is Remitly safe to use?
Remitly is a licensed money transmitter regulated by state financial regulators and FinCEN. Your account is protected by encryption, and Remitly holds your money in trust accounts separate from their operating funds. However, like any financial service, you should use a strong password and never share your login details.
Can I send money to someone who does not have a bank account?
Yes. In most countries where Remitly operates, recipients can pick up cash at a partner location using just their identification. Remitly shows you which delivery methods are available in each country before you send.
What happens if the recipient does not collect the money?
Cash pickups typically expire after a set period—usually 30 to 90 days depending on the country. If the money is not collected, Remitly refunds it to your original payment method. Bank deposits do not expire; the money stays in the recipient's account.
Can I cancel a transfer after I send it?
You can cancel a transfer only if it has not been picked up or deposited yet. Contact Remitly support as soon as possible with your transfer reference number. Once the recipient has collected the cash or the bank has processed the deposit, the transfer cannot be reversed.
How does Remitly make money if some transfers are free?
Remitly makes money through the exchange rate margin—the difference between the mid-market rate and the rate they show you. Even on transfers with no base fee, Remitly profits from the currency conversion. They also earn fees on Express transfers and transfers to certain countries.