FairFX vs Remitly: Fees, Rates & Speed Compared
FairFX
3.7FairFX (now part of Equals Group) provides international payments and multi-currency cards for personal and business use from the UK.
Remitly
4.6Remitly specializes in personal international money transfers with a focus on remittances to developing countries, offering competitive rates and fast delivery.
FairFX and Remitly are both popular choices for international money transfers, but they take different approaches. FairFX, founded in 2007 and headquartered in London, UK, 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 £1,000 GBP → EUR transfer, Remitly delivers €0.26 more to the recipient.
In this comparison
Live comparison: FairFX vs Remitly across popular corridors
The table below shows how much the recipient receives when sending through FairFX vs Remitly on 6 popular corridors. Data is refreshed every 6 hours from provider APIs and websites.
| Corridor | FairFX | Remitly | Winner |
|---|---|---|---|
| USD → INR($1,000) | — | ₹96,140.07 | N/A |
| GBP → EUR(£1,000) | €1,140.36 | €1,140.62 | Remitly (+€0.26) |
| USD → PHP($500) | — | ₱29,950.27 | N/A |
| USD → MXN($1,000) | — | MX$17,091.78 | N/A |
| 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 FairFX and Remitly
FairFX vs Remitly: Feature comparison
| Feature | FairFX | Remitly |
|---|---|---|
| Overall rating | 3.7/5 (Good) | 4.6/5 (Excellent) |
| Fee structure | From £0 for bank transfers, card fees apply | From $0 to $3.99 per transfer |
| Exchange rate markup | 0.5% - 1.5% above mid-market | 0.5% - 2% above mid-market |
| Transfer speed | 1-2 business days | Minutes to 3-5 days |
| Supported countries | 130+ | 100+ |
| Supported currencies | 40+ | 40+ |
| Max transfer | $250,000 | $10,000 |
| Payment methods | Bank Transfer, Debit Card | Bank Transfer, Debit Card, Credit Card |
| Delivery methods | Bank Deposit | Bank Deposit, Cash Pickup, Mobile Money, Home Delivery |
| Regulators | FCA | FinCEN, FCA |
| Founded | 2007 | 2011 |
Pros and cons
FairFX
Pros
- Good rates for GBP transfers
- Multi-currency travel card available
- High transfer limits
Cons
- UK-focused (limited for other markets)
- Less competitive than Wise on most corridors
- Travel card product may confuse transfer users
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 FairFX vs Remitly
Choose FairFX if:
- You want the real mid-market exchange rate with no hidden markup
- You're sending large amounts (FairFX supports up to $250,000)
- You need a multi-currency account to hold and convert balances
- You want to lock in an exchange rate with a forward contract
- You need a business account for commercial payments
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: FairFX or Remitly?
Cost winner: Remitly
Remitly wins on cost in 1 of 6 corridors we tested. For example, on GBP → EUR (£1,000), the recipient gets €0.26 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 FairFX.
Wider coverage: FairFX
FairFX has broader coverage with 130+ countries and 40+ currencies. FairFX 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, FairFX is the better pick if you need large transfers and business payments.
Frequently asked questions
Is FairFX 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 FairFX charges From £0 for bank transfers, card fees apply with a 0.5% - 1.5% above mid-market markup. For example, on a £1,000 GBP → EUR transfer, Remitly delivers €0.26 more. However, costs vary by corridor, so always compare for your specific route.
Which is faster, FairFX or Remitly?
FairFX 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 FairFX and Remitly safe to use?
Yes, both are regulated money transfer services. FairFX is regulated by FCA and has a 3.7/5 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 FairFX vs Remitly?
FairFX has a maximum transfer of $250,000 (minimum $100), 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 FairFX or Remitly?
FairFX 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 FairFX 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, FairFX 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.