PNB Europe vs Remitly: Fees, Rates & Speed Compared
PNB Europe
3.5PNB Europe (Punjab National Bank International) offers money transfers from Europe to India and the Philippines at competitive rates.
Remitly
4.6Remitly specializes in personal international money transfers with a focus on remittances to developing countries, offering competitive rates and fast delivery.
PNB Europe and Remitly are both popular choices for international money transfers, but they take different approaches. PNB Europe, founded in 2010 and headquartered in London, UK, is best known for international money 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: PNB Europe vs Remitly across popular corridors
The table below shows how much the recipient receives when sending through PNB Europe vs Remitly on 6 popular corridors. Data is refreshed every 6 hours from provider APIs and websites.
| Corridor | PNB Europe | 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 PNB Europe and Remitly
PNB Europe vs Remitly: Feature comparison
| Feature | PNB Europe | Remitly |
|---|---|---|
| Overall rating | 3.5/5 (Good) | 4.6/5 (Excellent) |
| Fee structure | £0-£5 per transfer | From $0 to $3.99 per transfer |
| Exchange rate markup | 0.3% - 1% above mid-market | 0.5% - 2% above mid-market |
| Transfer speed | 1-2 business days | Minutes to 3-5 days |
| Supported countries | 5+ | 100+ |
| Supported currencies | 5+ | 40+ |
| Max transfer | $25,000 | $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, PRA | FinCEN, FCA |
| Founded | 2010 | 2011 |
Pros and cons
PNB Europe
Pros
- Competitive GBP-to-INR rates
- Trusted Indian banking brand
- Low fees for India transfers
Cons
- Very limited corridor coverage
- Only for transfers to India and Philippines
- Less modern app experience
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 PNB Europe vs Remitly
Choose PNB Europe if:
- You want the real mid-market exchange rate with no hidden markup
- You're sending large amounts (PNB Europe supports up to $25,000)
- PNB Europe'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 5+ countries)
- You want zero transfer fees (From $0 to $3.99 per transfer)
Verdict: PNB Europe or Remitly?
Cost: Too close to call
PNB Europe 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 1-2 business days for PNB Europe.
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, PNB Europe is the better pick if you need international money transfers.
Frequently asked questions
Is PNB Europe or Remitly cheaper for international transfers?
It depends on the corridor. Our data across 6 routes shows PNB Europe and Remitly are closely matched on total cost. PNB Europe charges £0-£5 per transfer with a 0.3% - 1% above mid-market 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, PNB Europe or Remitly?
PNB Europe 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 PNB Europe and Remitly safe to use?
Yes, both are regulated money transfer services. PNB Europe is regulated by FCA, PRA and has a 3.5/5 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 PNB Europe vs Remitly?
PNB Europe has a maximum transfer of $25,000 (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 PNB Europe or Remitly?
PNB Europe 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 PNB Europe 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, PNB Europe is the better choice if you need international money transfers. The best provider for you depends on your corridor, transfer size, and whether you need features like Home Delivery.