Remitly vs Commonwealth Bank: Fees, Rates & Speed Compared
Remitly
4.6Remitly specializes in personal international money transfers with a focus on remittances to developing countries, offering competitive rates and fast delivery.
Commonwealth Bank
3.5Commonwealth Bank (CommBank) is one of Australia's big four banks, offering international money transfers for account holders. Convenient but significantly pricier than specialist services.
Remitly and Commonwealth Bank are both popular choices for international money transfers, but they take different approaches. Remitly, founded in 2011 and headquartered in Seattle, USA, is best known for cash pickup and global coverage. Commonwealth Bank, operating since 1911 from Sydney, Australia, focuses on large transfers and business payments. 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: Remitly vs Commonwealth Bank across popular corridors
The table below shows how much the recipient receives when sending through Remitly vs Commonwealth Bank on 6 popular corridors. Data is refreshed every 6 hours from provider APIs and websites.
| Corridor | Remitly | Commonwealth Bank | Winner |
|---|---|---|---|
| USD → INR($1,000) | ₹95,301.82 | — | N/A |
| GBP → EUR(£1,000) | €1,140.90 | — | N/A |
| USD → PHP($500) | ₱29,845.67 | — | N/A |
| USD → MXN($1,000) | MX$17,062.04 | — | N/A |
| GBP → PKR(£500) | ₨189,091.62 | — | N/A |
| USD → NGN($200) | ₦270,766.66 | — | N/A |
Amounts shown are what the recipient receives. Based on current scraped data, updated every 6 hours.
Key differences between Remitly and Commonwealth Bank
Remitly vs Commonwealth Bank: Feature comparison
| Feature | Remitly | Commonwealth Bank |
|---|---|---|
| Overall rating | 4.6/5 (Excellent) | 3.5/5 (Good) |
| Fee structure | From $0 to $3.99 per transfer | $6-$22 per transfer |
| Exchange rate markup | 0.5% - 2% above mid-market | 3% - 5% above mid-market |
| Transfer speed | Minutes to 3-5 days | 2-5 business days |
| Supported countries | 100+ | 200+ |
| Supported currencies | 40+ | 50+ |
| Max transfer | $10,000 | $100,000 |
| Payment methods | Bank Transfer, Debit Card, Credit Card | Bank Transfer |
| Delivery methods | Bank Deposit, Cash Pickup, Mobile Money, Home Delivery | Bank Deposit |
| Regulators | FinCEN, FCA | APRA, ASIC |
| Founded | 2011 | 1911 |
Pros and cons
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
Commonwealth Bank
Pros
- Australia's largest bank
- Easy for existing customers
- Wide branch network
Cons
- High exchange rate markup (3-5%)
- Transfer fees ($6-$22)
- Much slower than specialists
When to choose Remitly vs Commonwealth Bank
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
Choose Commonwealth Bank if:
- You want the real mid-market exchange rate with no hidden markup
- You're sending large amounts (Commonwealth Bank supports up to $100,000)
- You need wider country coverage (200+ vs 100+ countries)
Verdict: Remitly or Commonwealth Bank?
Cost: Too close to call
Remitly and Commonwealth Bank 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 2-5 business days for Commonwealth Bank.
Wider coverage: Commonwealth Bank
Commonwealth Bank has broader coverage with 200+ countries and 50+ currencies. Commonwealth Bank 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, Commonwealth Bank is the better pick if you need large transfers and business payments.
Frequently asked questions
Is Remitly or Commonwealth Bank cheaper for international transfers?
It depends on the corridor. Our data across 6 routes shows Remitly and Commonwealth Bank are closely matched on total cost. Remitly charges From $0 to $3.99 per transfer with a 0.5% - 2% above mid-market exchange rate markup, while Commonwealth Bank charges $6-$22 per transfer with a 3% - 5% above mid-market markup. We recommend comparing rates for your specific transfer using our calculator.
Which is faster, Remitly or Commonwealth Bank?
Remitly typically completes transfers in Minutes to 3-5 days, while Commonwealth Bank takes 2-5 business 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 Remitly and Commonwealth Bank safe to use?
Yes, both are regulated money transfer services. Remitly is regulated by FinCEN, FCA and has a 4.6/5 Trustpilot rating. Commonwealth Bank is regulated by APRA, ASIC with a 3.5/5 Trustpilot rating. Both companies are required to safeguard customer funds under their respective regulatory frameworks.
What are the transfer limits for Remitly vs Commonwealth Bank?
Remitly has a maximum transfer of $10,000 (minimum $1), while Commonwealth Bank allows up to $100,000 (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 Remitly or Commonwealth Bank?
Remitly offers Bank Deposit, Cash Pickup, Mobile Money, Home Delivery. Commonwealth Bank offers Bank Deposit. Remitly supports cash pickup, which is useful when recipients don't have a bank account.
Should I use Remitly or Commonwealth Bank to send money internationally?
For most users, Remitly offers better overall value thanks to transparent pricing with the real mid-market exchange rate. However, Commonwealth Bank 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.