Mukuru vs Remitly: Fees, Rates & Speed Compared
Mukuru
3.8Mukuru is a leading remittance provider for Southern and East Africa. Offers cash pickup, mobile money, and grocery voucher delivery options.
Remitly
4.6Remitly specializes in personal international money transfers with a focus on remittances to developing countries, offering competitive rates and fast delivery.
Mukuru and Remitly are both popular choices for international money transfers, but they take different approaches. Mukuru, founded in 2004 and headquartered in Johannesburg, South Africa, is best known for remittances and mobile money. 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 GBP → PKR transfer, Remitly delivers ₨15431.99 more to the recipient.
In this comparison
Live comparison: Mukuru vs Remitly across popular corridors
The table below shows how much the recipient receives when sending through Mukuru vs Remitly on 6 popular corridors. Data is refreshed every 6 hours from provider APIs and websites.
| Corridor | Mukuru | Remitly | Winner |
|---|---|---|---|
| USD → INR($1,000) | — | ₹96,140.07 | N/A |
| GBP → EUR(£1,000) | €1,111.39 | €1,140.62 | Remitly (+€29.23) |
| USD → PHP($500) | — | ₱29,950.27 | N/A |
| USD → MXN($1,000) | — | MX$17,091.78 | N/A |
| GBP → PKR(£500) | ₨173,763.88 | ₨189,195.87 | Remitly (+₨15431.99) |
| 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 Mukuru and Remitly
Mukuru vs Remitly: Feature comparison
| Feature | Mukuru | Remitly |
|---|---|---|
| Overall rating | 3.8/5 (Good) | 4.6/5 (Excellent) |
| Fee structure | Varies by corridor and delivery method | From $0 to $3.99 per transfer |
| Exchange rate markup | 1% - 3% above mid-market | 0.5% - 2% above mid-market |
| Transfer speed | Minutes to 1 day | Minutes to 3-5 days |
| Supported countries | 15+ | 100+ |
| Supported currencies | 10+ | 40+ |
| Max transfer | $10,000 | $10,000 |
| Payment methods | Bank Transfer, Debit Card, Cash | Bank Transfer, Debit Card, Credit Card |
| Delivery methods | Cash Pickup, Mobile Money, Bank Deposit, Grocery Voucher | Bank Deposit, Cash Pickup, Mobile Money, Home Delivery |
| Regulators | SARB (South Africa), FCA | FinCEN, FCA |
| Founded | 2004 | 2011 |
Pros and cons
Mukuru
Pros
- Dominant in Southern Africa corridors
- Unique delivery options (grocery vouchers)
- Widely trusted in African communities
Cons
- Limited to Africa-focused corridors
- Exchange rates not always the most competitive
- Less digital-first than newer competitors
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 Mukuru vs Remitly
Choose Mukuru if:
- You want the real mid-market exchange rate with no hidden markup
- Mukuru's strengths (Cash Pickup, Mobile Money) match your needs
Choose Remitly if:
- You want the real mid-market exchange rate with no hidden markup
- You need wider country coverage (100+ vs 15+ countries)
- You want zero transfer fees (From $0 to $3.99 per transfer)
Verdict: Mukuru or Remitly?
Cost winner: Remitly
Remitly wins on cost in 2 of 6 corridors we tested. For example, on GBP → EUR (£1,000), the recipient gets €29.23 more with Remitly. Remitly achieves this through transparent pricing with the real mid-market exchange rate.
Speed: Similar delivery times
Both providers offer similar transfer speeds. Mukuru typically delivers in Minutes to 1 day, while Remitly takes Minutes to 3-5 days. The actual speed depends on the corridor and delivery method.
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, Mukuru is the better pick if you need remittances and mobile money.
Frequently asked questions
Is Mukuru 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 Mukuru charges Varies by corridor and delivery method with a 1% - 3% above mid-market markup. For example, on a £1,000 GBP → EUR transfer, Remitly delivers €29.23 more. However, costs vary by corridor, so always compare for your specific route.
Which is faster, Mukuru or Remitly?
Mukuru typically completes transfers in Minutes to 1 day, 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 Mukuru and Remitly safe to use?
Yes, both are regulated money transfer services. Mukuru is regulated by SARB (South Africa), FCA 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 Mukuru vs Remitly?
Mukuru has a maximum transfer of $10,000 (minimum $5), 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 Mukuru or Remitly?
Mukuru offers Cash Pickup, Mobile Money, Bank Deposit, Grocery Voucher. Remitly offers Bank Deposit, Cash Pickup, Mobile Money, Home Delivery. Mukuru supports cash pickup, which is useful when recipients don't have a bank account. Remitly supports cash pickup for recipients without bank access.
Should I use Mukuru 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, Mukuru is the better choice if you need remittances and mobile money. The best provider for you depends on your corridor, transfer size, and whether you need features like Home Delivery.