Sending money abroad can be a headache. Between all the different international money transfer providers to choose from, it’s hard to figure out which one fits your needs the best.
We’re going to make it easy for you. Today we’re going to do a deep dive into Remitly. Let’s see how it measures up against Revolut for sending money abroad.
Revolut vs Remitly: FX rates and fees
Both Revolut and Remitly offer really competitive FX rates, based on the FX market data feeds from a range of different independent sources. At Revolut, we call this the real exchange rate.
Revolut vs Remitly: Delivery speed
However, to get those good rates with Remitly, you have to pick the Economy delivery speed. Transfers take 3-5 business days for your funds to be delivered.
In comparison, Revolut transfers typically arrive within 30 minutes for the currencies below. Remitly offers faster transfers with their Express delivery speed, but they charge a higher FX fee for that service.
Revolut vs Remitly: Transfer Fees
With Revolut, all users can send up to 10 international transfers per month, fee-free. Remitly sometimes charges transfer fees, depending on the currency.
Take a look at the table below to see how much you would need to pay and how much your recipient would receive if you sent $1000 in some currencies from the US as a Standard customer. The Express delivery method was selected for Remitly in order to have a fair comparison with Revolut’s faster transfers.
This comparison shows the cost of a transfer for a Standard Revolut customer before reaching the monthly FX fair usage limit. You can avoid FX fair usage fees if you are on a paid plan (Premium or Metal). The pricing in this table was collected from the Remitly website and is accurate as of Nov 8, 2021 at 1:00pm BST.
Verdict: Which is better for sending money abroad?
Revolut is the clear winner! The recipient receives more money in every scenario in the table above when the transfer is made with Revolut. With Revolut, you can make 10 international transfers from the US, fee-free!
Revolut has no hidden fees and offers great exchange rates, making it simpler and more affordable to send money abroad. Just choose how much you want to send and where to. We’ll take care of the rest.
Want to learn more? Here’s everything you need to know about making international money transfers with Revolut.
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