KOHO vs Remitly: Fees, Rates & Speed Compared
KOHO
3.8KOHO is a Canadian fintech offering a spending account with international money transfers powered by Wise. Competitive FX rates for Canadian users.
Remitly
4.6Remitly specializes in personal international money transfers with a focus on remittances to developing countries, offering competitive rates and fast delivery.
KOHO and Remitly are both popular choices for international money transfers, but they take different approaches. KOHO, founded in 2014 and headquartered in Vancouver, Canada, is best known for transparent, low-cost transfers. 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.
In this comparison
Live comparison: KOHO vs Remitly across popular corridors
The table below shows how much the recipient receives when sending through KOHO vs Remitly on 6 popular corridors. Data is refreshed every 6 hours from provider APIs and websites.
| Corridor | KOHO | Remitly | Winner |
|---|---|---|---|
| USD → INR($1,000) | — | ₹96,140.07 | N/A |
| GBP → EUR(£1,000) | — | €1,140.62 | N/A |
| 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 KOHO and Remitly
KOHO vs Remitly: Feature comparison
| Feature | KOHO | Remitly |
|---|---|---|
| Overall rating | 3.8/5 (Good) | 4.6/5 (Excellent) |
| Fee structure | $1.50 per international transfer | From $0 to $3.99 per transfer |
| Exchange rate markup | 0% - 0.5% (Wise rates) | 0.5% - 2% above mid-market |
| Transfer speed | 1-3 business days | Minutes to 3-5 days |
| Supported countries | 50+ | 100+ |
| Supported currencies | 40+ | 40+ |
| Max transfer | $10,000 | $10,000 |
| Payment methods | Bank Transfer (Interac) | Bank Transfer, Debit Card, Credit Card |
| Delivery methods | Bank Deposit | Bank Deposit, Cash Pickup, Mobile Money, Home Delivery |
| Regulators | FINTRAC | FinCEN, FCA |
| Founded | 2014 | 2011 |
Pros and cons
KOHO
Pros
- Wise-powered exchange rates (near mid-market)
- Integrated spending account
- Cashback on purchases
Cons
- Canada only (send from CAD)
- Transfer limits lower than dedicated services
- Fewer delivery options than Wise directly
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 KOHO vs Remitly
Choose KOHO if:
- You want the real mid-market exchange rate with no hidden markup
- KOHO's strengths (Bank Deposit) match your needs
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 need wider country coverage (100+ vs 50+ countries)
- You want zero transfer fees (From $0 to $3.99 per transfer)
Verdict: KOHO or Remitly?
Cost: Too close to call
KOHO and Remitly are closely matched on cost. Across our 6 sample corridors, neither provider consistently delivers more to the recipient. The best choice depends on your specific corridor.
Faster: Remitly
Remitly is generally faster, with transfers arriving in Minutes to 3-5 days, compared to 1-3 business days for KOHO.
Wider coverage: Remitly
Remitly has broader coverage with 100+ countries and 40+ currencies. Remitly also offers Bank Deposit, Cash Pickup, Mobile Money, Home Delivery.
Bottom line
Overall, Remitly edges ahead for most users thanks to transparent pricing with the real mid-market exchange rate. That said, KOHO is the better pick if you need transparent, low-cost transfers.
Frequently asked questions
Is KOHO or Remitly cheaper for international transfers?
It depends on the corridor. Our data across 6 routes shows KOHO and Remitly are closely matched on total cost. KOHO charges $1.50 per international transfer with a 0% - 0.5% (Wise rates) exchange rate markup, while Remitly charges From $0 to $3.99 per transfer with a 0.5% - 2% above mid-market markup. We recommend comparing rates for your specific transfer using our calculator.
Which is faster, KOHO or Remitly?
KOHO typically completes transfers in 1-3 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 KOHO and Remitly safe to use?
Yes, both are regulated money transfer services. KOHO is regulated by FINTRAC and has a 3.8/5 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 KOHO vs Remitly?
KOHO has a maximum transfer of $10,000 (minimum $10), 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 KOHO or Remitly?
KOHO 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 KOHO 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, KOHO is the better choice if you need transparent, low-cost transfers. The best provider for you depends on your corridor, transfer size, and whether you need features like Home Delivery.