Remitly vs TD 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.
TD Bank
3.4TD Bank offers international wire transfers for Canadian and US account holders. Widely available but significantly more expensive than specialist money transfer services.
Remitly and TD 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. TD Bank, operating since 1855 from Toronto, Canada, 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 TD Bank across popular corridors
The table below shows how much the recipient receives when sending through Remitly vs TD Bank on 6 popular corridors. Data is refreshed every 6 hours from provider APIs and websites.
| Corridor | Remitly | TD Bank | 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 Remitly and TD Bank
Remitly vs TD Bank: Feature comparison
| Feature | Remitly | TD Bank |
|---|---|---|
| Overall rating | 4.6/5 (Excellent) | 3.4/5 (Fair) |
| Fee structure | From $0 to $3.99 per transfer | CAD $30-$80 per wire 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+ | 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 | OSFI, FDIC |
| Founded | 2011 | 1855 |
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
TD Bank
Pros
- Major Canadian bank
- Strong US and Canadian presence
- Easy for existing customers
Cons
- High transfer fees ($30-$80)
- Poor exchange rate markup (2.5%+)
- Slow delivery
When to choose Remitly vs TD 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 TD Bank if:
- You want the real mid-market exchange rate with no hidden markup
- You're sending large amounts (TD Bank supports up to $100,000)
- You need wider country coverage (200+ vs 100+ countries)
Verdict: Remitly or TD Bank?
Cost: Too close to call
Remitly and TD 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 TD Bank.
Wider coverage: TD Bank
TD Bank has broader coverage with 200+ countries and 50+ currencies. TD 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, TD Bank is the better pick if you need large transfers and business payments.
Frequently asked questions
Is Remitly or TD Bank cheaper for international transfers?
It depends on the corridor. Our data across 6 routes shows Remitly and TD 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 TD Bank charges CAD $30-$80 per wire transfer with a 2.5% - 4% above mid-market markup. We recommend comparing rates for your specific transfer using our calculator.
Which is faster, Remitly or TD Bank?
Remitly typically completes transfers in Minutes to 3-5 days, while TD 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 TD 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. TD Bank is regulated by OSFI, FDIC with a 3.4/5 Trustpilot rating. Both companies are required to safeguard customer funds under their respective regulatory frameworks.
What are the transfer limits for Remitly vs TD Bank?
Remitly has a maximum transfer of $10,000 (minimum $1), while TD 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 TD Bank?
Remitly offers Bank Deposit, Cash Pickup, Mobile Money, Home Delivery. TD Bank offers Bank Deposit. Remitly supports cash pickup, which is useful when recipients don't have a bank account.
Should I use Remitly or TD 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, TD 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.