Remitly vs Sendwave: 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.
Sendwave
4.2Sendwave (owned by WorldRemit) specializes in fast, low-cost transfers to Africa and South Asia via mobile money. No fees — revenue comes from exchange rate margin.
Remitly and Sendwave 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. Sendwave, operating since 2014 from Boston, Massachusetts, USA, focuses on remittances and mobile money. 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 ₨3590.48 more to the recipient.
In this comparison
Live comparison: Remitly vs Sendwave across popular corridors
The table below shows how much the recipient receives when sending through Remitly vs Sendwave on 6 popular corridors. Data is refreshed every 6 hours from provider APIs and websites.
| Corridor | Remitly | Sendwave | Winner |
|---|---|---|---|
| USD → INR($1,000) | ₹95,833.41 | — | N/A |
| GBP → EUR(£1,000) | €1,142.19 | — | N/A |
| USD → PHP($500) | ₱29,915.84 | ₱30,366.87 | Sendwave (+₱451.03) |
| USD → MXN($1,000) | MX$17,001.15 | MX$17,151.09 | Sendwave (+MX$149.94) |
| GBP → PKR(£500) | ₨189,852.24 | ₨186,261.76 | Remitly (+₨3590.48) |
| USD → NGN($200) | ₦272,575.90 | ₦272,411.36 | Remitly (+₦164.54) |
Amounts shown are what the recipient receives. Based on current scraped data, updated every 6 hours.
Key differences between Remitly and Sendwave
Remitly vs Sendwave: Feature comparison
| Feature | Remitly | Sendwave |
|---|---|---|
| Overall rating | 4.6/5 (Excellent) | 4.2/5 (Good) |
| Fee structure | From $0 to $3.99 per transfer | $0 fee — revenue from exchange rate margin |
| Exchange rate markup | 0.5% - 2% above mid-market | 1% - 3% above mid-market |
| Transfer speed | Minutes to 3-5 days | Instant to minutes |
| Supported countries | 100+ | 15+ |
| Supported currencies | 40+ | 15+ |
| Max transfer | $10,000 | $5,000 |
| Payment methods | Bank Transfer, Debit Card, Credit Card | Debit Card |
| Delivery methods | Bank Deposit, Cash Pickup, Mobile Money, Home Delivery | Mobile Money, Bank Deposit |
| Regulators | FinCEN, FCA | FinCEN, FCA |
| Founded | 2011 | 2014 |
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
Sendwave
Pros
- Zero transfer fees
- Instant delivery to mobile money wallets
- Simple, fast app experience
Cons
- Limited to ~15 countries (Africa & South Asia focus)
- Exchange rate markup built into rate
- Low max transfer limit ($5,000)
When to choose Remitly vs Sendwave
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 need wider country coverage (100+ vs 15+ countries)
- You want zero transfer fees (From $0 to $3.99 per transfer)
Choose Sendwave if:
- You want the real mid-market exchange rate with no hidden markup
- You want zero transfer fees ($0 fee — revenue from exchange rate margin)
- Sendwave's strengths (Mobile Money, Bank Deposit) match your needs
Verdict: Remitly or Sendwave?
Cost: Too close to call
Remitly and Sendwave 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.
Speed: Similar delivery times
Both providers offer similar transfer speeds. Remitly typically delivers in Minutes to 3-5 days, while Sendwave takes Instant to minutes. 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, Sendwave is the better pick if you need remittances and mobile money.
Frequently asked questions
Is Remitly or Sendwave cheaper for international transfers?
It depends on the corridor. Our data across 6 routes shows Remitly and Sendwave 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 Sendwave charges $0 fee — revenue from exchange rate margin with a 1% - 3% above mid-market markup. We recommend comparing rates for your specific transfer using our calculator.
Which is faster, Remitly or Sendwave?
Remitly typically completes transfers in Minutes to 3-5 days, while Sendwave takes Instant to minutes. 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 Sendwave safe to use?
Yes, both are regulated money transfer services. Remitly is regulated by FinCEN, FCA and has a 4.6/5 Trustpilot rating. Sendwave is regulated by FinCEN, FCA with a 4.2/5 Trustpilot rating. Both companies are required to safeguard customer funds under their respective regulatory frameworks.
What are the transfer limits for Remitly vs Sendwave?
Remitly has a maximum transfer of $10,000 (minimum $1), while Sendwave allows up to $5,000 (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 Sendwave?
Remitly offers Bank Deposit, Cash Pickup, Mobile Money, Home Delivery. Sendwave offers Mobile Money, Bank Deposit. Remitly supports cash pickup, which is useful when recipients don't have a bank account.
Should I use Remitly or Sendwave to send money internationally?
For most users, Remitly offers better overall value thanks to transparent pricing with the real mid-market exchange rate. However, Sendwave 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.