United Overseas Bank (UOB) vs Remitly: Fees, Rates & Speed Compared
United Overseas Bank (UOB)
3.5UOB is a leading Singaporean bank offering international money transfers across Southeast Asia. Strong in ASEAN corridors with competitive SGD rates.
Remitly
4.6Remitly specializes in personal international money transfers with a focus on remittances to developing countries, offering competitive rates and fast delivery.
United Overseas Bank (UOB) and Remitly are both popular choices for international money transfers, but they take different approaches. United Overseas Bank (UOB), founded in 1935 and headquartered in Singapore, is best known for large transfers and business payments. 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: United Overseas Bank (UOB) vs Remitly across popular corridors
The table below shows how much the recipient receives when sending through United Overseas Bank (UOB) vs Remitly on 6 popular corridors. Data is refreshed every 6 hours from provider APIs and websites.
| Corridor | United Overseas Bank (UOB) | Remitly | 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 | N/A |
| USD → MXN($1,000) | — | MX$17,001.15 | N/A |
| GBP → PKR(£500) | — | ₨189,852.24 | N/A |
| USD → NGN($200) | — | ₦272,575.90 | N/A |
Amounts shown are what the recipient receives. Based on current scraped data, updated every 6 hours.
Key differences between United Overseas Bank (UOB) and Remitly
United Overseas Bank (UOB) vs Remitly: Feature comparison
| Feature | United Overseas Bank (UOB) | Remitly |
|---|---|---|
| Overall rating | 3.5/5 (Good) | 4.6/5 (Excellent) |
| Fee structure | SGD 5-$25 per transfer | From $0 to $3.99 per transfer |
| Exchange rate markup | 0.5% - 2% above mid-market | 0.5% - 2% above mid-market |
| Transfer speed | 1-3 business days | Minutes to 3-5 days |
| Supported countries | 50+ | 100+ |
| Supported currencies | 25+ | 40+ |
| Max transfer | $200,000 | $10,000 |
| Payment methods | Bank Transfer | Bank Transfer, Debit Card, Credit Card |
| Delivery methods | Bank Deposit | Bank Deposit, Cash Pickup, Mobile Money, Home Delivery |
| Regulators | MAS (Singapore) | FinCEN, FCA |
| Founded | 1935 | 2011 |
Pros and cons
United Overseas Bank (UOB)
Pros
- Strong Southeast Asian network
- Competitive SGD transfer rates
- High transfer limits
Cons
- Singapore-focused (limited for other markets)
- Wire fees for non-UOB recipients
- Exchange markup higher than fintechs
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 United Overseas Bank (UOB) vs Remitly
Choose United Overseas Bank (UOB) if:
- You want the real mid-market exchange rate with no hidden markup
- You're sending large amounts (United Overseas Bank (UOB) supports up to $200,000)
- You need a multi-currency account to hold and convert balances
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 50+ countries)
- You want zero transfer fees (From $0 to $3.99 per transfer)
Verdict: United Overseas Bank (UOB) or Remitly?
Cost: Too close to call
United Overseas Bank (UOB) 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 1-3 business days for United Overseas Bank (UOB).
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, United Overseas Bank (UOB) is the better pick if you need large transfers and business payments.
Frequently asked questions
Is United Overseas Bank (UOB) or Remitly cheaper for international transfers?
It depends on the corridor. Our data across 6 routes shows United Overseas Bank (UOB) and Remitly are closely matched on total cost. United Overseas Bank (UOB) charges SGD 5-$25 per transfer with a 0.5% - 2% 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, United Overseas Bank (UOB) or Remitly?
United Overseas Bank (UOB) typically completes transfers in 1-3 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 United Overseas Bank (UOB) and Remitly safe to use?
Yes, both are regulated money transfer services. United Overseas Bank (UOB) is regulated by MAS (Singapore) 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 United Overseas Bank (UOB) vs Remitly?
United Overseas Bank (UOB) has a maximum transfer of $200,000 (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 United Overseas Bank (UOB) or Remitly?
United Overseas Bank (UOB) 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 United Overseas Bank (UOB) 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, United Overseas Bank (UOB) 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.