Remitly vs Santander: 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.
Santander
3.5Santander offers international money transfers for UK and European account holders. Part of the global Santander Group, but transfer costs are higher than specialist providers.
Remitly and Santander 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. Santander, operating since 1857 from Madrid, Spain, focuses on international money transfers. 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 €20.11 more to the recipient.
In this comparison
Live comparison: Remitly vs Santander across popular corridors
The table below shows how much the recipient receives when sending through Remitly vs Santander on 6 popular corridors. Data is refreshed every 6 hours from provider APIs and websites.
| Corridor | Remitly | Santander | Winner |
|---|---|---|---|
| USD → INR($1,000) | ₹96,140.07 | — | N/A |
| GBP → EUR(£1,000) | €1,140.62 | €1,120.51 | Remitly (+€20.11) |
| 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 Remitly and Santander
Remitly vs Santander: Feature comparison
| Feature | Remitly | Santander |
|---|---|---|
| Overall rating | 4.6/5 (Excellent) | 3.5/5 (Good) |
| Fee structure | From $0 to $3.99 per transfer | £25 per international transfer |
| Exchange rate markup | 0.5% - 2% above mid-market | 2.5% - 4% above mid-market |
| Transfer speed | Minutes to 3-5 days | 2-5 business days |
| Supported countries | 100+ | 200+ |
| Supported currencies | 40+ | 30+ |
| Max transfer | $10,000 | $25,000 |
| 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 | FCA, PRA, ECB |
| Founded | 2011 | 1857 |
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
Santander
Pros
- Global banking presence
- Send from existing account
Cons
- £25 transfer fee
- High exchange rate markup
- Slow delivery times
When to choose Remitly vs Santander
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 Santander if:
- You want the real mid-market exchange rate with no hidden markup
- You're sending large amounts (Santander supports up to $25,000)
- You need wider country coverage (200+ vs 100+ countries)
Verdict: Remitly or Santander?
Cost winner: Remitly
Remitly wins on cost in 1 of 6 corridors we tested. For example, on GBP → EUR (£1,000), the recipient gets €20.11 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 2-5 business days for Santander.
Wider coverage: Santander
Santander has broader coverage with 200+ countries and 30+ currencies. Santander 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, Santander is the better pick if you need international money transfers.
Frequently asked questions
Is Remitly or Santander 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 Santander charges £25 per international transfer with a 2.5% - 4% above mid-market markup. For example, on a £1,000 GBP → EUR transfer, Remitly delivers €20.11 more. However, costs vary by corridor, so always compare for your specific route.
Which is faster, Remitly or Santander?
Remitly typically completes transfers in Minutes to 3-5 days, while Santander 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 Santander safe to use?
Yes, both are regulated money transfer services. Remitly is regulated by FinCEN, FCA and has a 4.6/5 Trustpilot rating. Santander is regulated by FCA, PRA, ECB 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 Santander?
Remitly has a maximum transfer of $10,000 (minimum $1), while Santander allows up to $25,000 (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 Santander?
Remitly offers Bank Deposit, Cash Pickup, Mobile Money, Home Delivery. Santander offers Bank Deposit. Remitly supports cash pickup, which is useful when recipients don't have a bank account.
Should I use Remitly or Santander to send money internationally?
For most users, Remitly offers better overall value thanks to transparent pricing with the real mid-market exchange rate. However, Santander 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.