Sendwave vs Remitly: Fees, Rates & Speed Compared
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
4.5Remitly specializes in personal international money transfers with a focus on remittances to developing countries, offering competitive rates and fast delivery.
Sendwave and Remitly are both popular choices for international money transfers, but they take different approaches. Sendwave, founded in 2014 and headquartered in Boston, Massachusetts, USA, is best known for remittances and mobile money. 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. Our data shows the difference can be significant — on a $1,000 USD → MXN transfer, Remitly delivers MX$999.92 more to the recipient.
In this comparison
Live comparison: Sendwave vs Remitly across popular corridors
The table below shows how much the recipient receives when sending through Sendwave vs Remitly on 6 popular corridors. Data is refreshed every 6 hours from provider APIs and websites.
| Corridor | Sendwave | Remitly | Winner |
|---|---|---|---|
| USD → INR($1,000) | — | ₹93,969.24 | N/A |
| GBP → EUR(£1,000) | — | €1,153.17 | N/A |
| USD → PHP($500) | — | ₱29,896.01 | N/A |
| USD → MXN($1,000) | MX$17,269.87 | MX$18,269.79 | Remitly (+MX$999.92) |
| GBP → PKR(£500) | — | ₨188,078.26 | N/A |
| USD → NGN($200) | ₦280,018.22 | ₦280,897.92 | Remitly (+₦879.70) |
Amounts shown are what the recipient receives. Based on current scraped data, updated every 6 hours.
Key differences between Sendwave and Remitly
Sendwave vs Remitly: Feature comparison
| Feature | Sendwave | Remitly |
|---|---|---|
| Overall rating | 4.2/5 (Good) | 4.5/5 (Excellent) |
| Fee structure | $0 fee — revenue from exchange rate margin | From $0 to $3.99 per transfer |
| Exchange rate markup | 1% - 3% above mid-market | 0.5% - 2% above mid-market |
| Transfer speed | Instant to minutes | Minutes to 3-5 days |
| Supported countries | 15+ | 100+ |
| Supported currencies | 15+ | 40+ |
| Max transfer | $5,000 | $10,000 |
| Payment methods | Debit Card | Bank Transfer, Debit Card, Credit Card |
| Delivery methods | Mobile Money, Bank Deposit | Bank Deposit, Cash Pickup, Mobile Money, Home Delivery |
| Regulators | FinCEN, FCA | FinCEN, FCA |
| Founded | 2014 | 2011 |
Pros and cons
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)
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 Sendwave vs Remitly
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
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)
Verdict: Sendwave or Remitly?
Cost winner: Remitly
Remitly wins on cost in 2 of 6 corridors we tested. For example, on USD → MXN ($1,000), the recipient gets MX$999.92 more with Remitly. Remitly achieves this through transparent pricing with the real mid-market exchange rate.
Speed: Similar delivery times
Both providers offer similar transfer speeds. Sendwave typically delivers in Instant to minutes, while Remitly takes Minutes to 3-5 days. 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 Sendwave or Remitly 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 Sendwave charges $0 fee — revenue from exchange rate margin with a 1% - 3% above mid-market markup. For example, on a $1,000 USD → MXN transfer, Remitly delivers MX$999.92 more. However, costs vary by corridor, so always compare for your specific route.
Which is faster, Sendwave or Remitly?
Sendwave typically completes transfers in Instant to minutes, 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 Sendwave and Remitly safe to use?
Yes, both are regulated money transfer services. Sendwave is regulated by FinCEN, FCA and has a 4.2/5 Trustpilot rating. Remitly is regulated by FinCEN, FCA with a 4.5/5 Trustpilot rating. Both companies are required to safeguard customer funds under their respective regulatory frameworks.
What are the transfer limits for Sendwave vs Remitly?
Sendwave has a maximum transfer of $5,000 (minimum $1), 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 Sendwave or Remitly?
Sendwave offers Mobile Money, Bank Deposit. Remitly offers Bank Deposit, Cash Pickup, Mobile Money, Home Delivery. Remitly supports cash pickup for recipients without bank access.
Should I use Sendwave 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, 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.