CurrencyFair vs Remitly: Fees, Rates & Speed Compared
CurrencyFair
4.3CurrencyFair is a peer-to-peer currency exchange platform offering competitive rates by matching buyers and sellers directly, plus a marketplace for setting your own rate.
Remitly
4.6Remitly specializes in personal international money transfers with a focus on remittances to developing countries, offering competitive rates and fast delivery.
CurrencyFair and Remitly are both popular choices for international money transfers, but they take different approaches. CurrencyFair, founded in 2010 and headquartered in Dublin, Ireland, is best known for large transfers and business payments. Remitly, operating since 2011 from Seattle, USA, focuses on cash pickup and global coverage. This comparison uses real transfer data collected from both providers across 6 popular corridors to show you exactly which one offers better value for your specific needs. Our data shows the difference can be significant — on a $500 USD → PHP transfer, Remitly delivers ₱943.13 more to the recipient.
In this comparison
Live comparison: CurrencyFair vs Remitly across popular corridors
The table below shows how much the recipient receives when sending through CurrencyFair vs Remitly on 6 popular corridors. Data is refreshed every 6 hours from provider APIs and websites.
| Corridor | CurrencyFair | Remitly | Winner |
|---|---|---|---|
| USD → INR($1,000) | ₹95,894.36 | ₹96,140.07 | Remitly (+₹245.71) |
| GBP → EUR(£1,000) | €1,144.40 | €1,140.62 | CurrencyFair (+€3.78) |
| USD → PHP($500) | ₱29,007.14 | ₱29,950.27 | Remitly (+₱943.13) |
| USD → MXN($1,000) | MX$17,058.66 | MX$17,091.78 | Remitly (+MX$33.12) |
| GBP → PKR(£500) | — | ₨189,195.87 | N/A |
| USD → NGN($200) | — | ₦272,299.44 | N/A |
Amounts shown are what the recipient receives. Based on current scraped data, updated every 6 hours.
Key differences between CurrencyFair and Remitly
CurrencyFair vs Remitly: Feature comparison
| Feature | CurrencyFair | Remitly |
|---|---|---|
| Overall rating | 4.3/5 (Excellent) | 4.6/5 (Excellent) |
| Fee structure | From €0 (marketplace) to €3 (instant) | From $0 to $3.99 per transfer |
| Exchange rate markup | 0.3% - 0.5% above mid-market | 0.5% - 2% above mid-market |
| Transfer speed | 1-2 business days | Minutes to 3-5 days |
| Supported countries | 150+ | 100+ |
| Supported currencies | 20+ | 40+ |
| Max transfer | $500,000 | $10,000 |
| Payment methods | Bank Transfer | Bank Transfer, Debit Card, Credit Card |
| Delivery methods | Bank Deposit | Bank Deposit, Cash Pickup, Mobile Money, Home Delivery |
| Regulators | CBI, ASIC | FinCEN, FCA |
| Founded | 2010 | 2011 |
Pros and cons
CurrencyFair
Pros
- Peer-to-peer marketplace for best rates
- No fees on marketplace orders
- Great for large transfers
- Transparent pricing
Cons
- Marketplace orders may take time to match
- No cash pickup option
- Limited currency pairs vs major providers
Remitly
Pros
- Express transfers arrive in minutes
- Cash pickup available in many countries
- Mobile money delivery option
- First transfer promotions often available
- Home delivery in select countries
Cons
- Rates less competitive for large transfers
- No multi-currency account
- Focused mainly on remittance corridors
When to choose CurrencyFair vs Remitly
Choose CurrencyFair if:
- You want the real mid-market exchange rate with no hidden markup
- You're sending large amounts (CurrencyFair supports up to $500,000)
- You need a business account for commercial payments
- You need wider country coverage (150+ vs 100+ countries)
Choose Remitly if:
- You want the real mid-market exchange rate with no hidden markup
- Your recipient needs cash pickup instead of bank deposit
- You want to send to a mobile money wallet (M-Pesa, GCash, etc.)
- You want zero transfer fees (From $0 to $3.99 per transfer)
- Speed is your top priority — transfers can arrive in minutes
Verdict: CurrencyFair or Remitly?
Cost winner: Remitly
Remitly wins on cost in 3 of 6 corridors we tested. For example, on USD → INR ($1,000), the recipient gets ₹245.71 more with Remitly. Remitly achieves this through transparent pricing with the real mid-market exchange rate.
Faster: Remitly
Remitly is generally faster, with transfers arriving in Minutes to 3-5 days, compared to 1-2 business days for CurrencyFair.
Wider coverage: CurrencyFair
CurrencyFair has broader coverage with 150+ countries and 20+ currencies. CurrencyFair also offers Bank Deposit.
Bottom line
Overall, Remitly edges ahead for most users thanks to transparent pricing with the real mid-market exchange rate. That said, CurrencyFair is the better pick if you need large transfers and business payments.
Frequently asked questions
Is CurrencyFair or Remitly cheaper for international transfers?
Based on our data, Remitly is generally cheaper across most corridors. Remitly charges From $0 to $3.99 per transfer with a 0.5% - 2% above mid-market exchange rate markup, while CurrencyFair charges From €0 (marketplace) to €3 (instant) with a 0.3% - 0.5% above mid-market markup. For example, on a $1,000 USD → INR transfer, Remitly delivers ₹245.71 more. However, costs vary by corridor, so always compare for your specific route.
Which is faster, CurrencyFair or Remitly?
CurrencyFair typically completes transfers in 1-2 business days, while Remitly takes Minutes to 3-5 days. Actual speed depends on the corridor, payment method, and delivery option you choose. Bank transfers tend to be slower than card-funded transfers, and bank deposits are generally faster than cash pickups.
Are CurrencyFair and Remitly safe to use?
Yes, both are regulated money transfer services. CurrencyFair is regulated by CBI, ASIC and has a 4.3/5 Trustpilot rating. Remitly is regulated by FinCEN, FCA with a 4.6/5 Trustpilot rating. Both companies are required to safeguard customer funds under their respective regulatory frameworks.
What are the transfer limits for CurrencyFair vs Remitly?
CurrencyFair has a maximum transfer of $500,000 (minimum $50), while Remitly allows up to $10,000 (minimum $1). Limits may vary by corridor, account verification level, and payment method. New accounts typically start with lower limits that increase over time.
Can I get cash pickup with CurrencyFair or Remitly?
CurrencyFair offers Bank Deposit. Remitly offers Bank Deposit, Cash Pickup, Mobile Money, Home Delivery. Remitly supports cash pickup for recipients without bank access.
Should I use CurrencyFair or Remitly to send money internationally?
For most users, Remitly offers better overall value thanks to transparent pricing with the real mid-market exchange rate. However, CurrencyFair is the better choice if you need large transfers and business payments. The best provider for you depends on your corridor, transfer size, and whether you need features like Home Delivery.