Remitly vs Wise: Fees, Rates & Speed Compared
Remitly
4.5Remitly specializes in personal international money transfers with a focus on remittances to developing countries, offering competitive rates and fast delivery.
Wise
4.7Wise (formerly TransferWise) offers transparent, low-cost international money transfers using the real mid-market exchange rate with no hidden markups.
Remitly and Wise 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. Wise, operating since 2011 from London, UK, focuses on transparent, low-cost 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 $200 USD → NGN transfer, Remitly delivers ₦10964.01 more to the recipient.
In this comparison
Live comparison: Remitly vs Wise across popular corridors
The table below shows how much the recipient receives when sending through Remitly vs Wise on 6 popular corridors. Data is refreshed every 6 hours from provider APIs and websites.
| Corridor | Remitly | Wise | Winner |
|---|---|---|---|
| USD → INR($1,000) | ₹93,969.24 | ₹93,900.31 | Remitly (+₹68.93) |
| GBP → EUR(£1,000) | €1,153.17 | €1,149.60 | Remitly (+€3.57) |
| USD → PHP($500) | ₱29,896.01 | — | N/A |
| USD → MXN($1,000) | MX$18,269.79 | MX$17,245.70 | Remitly (+MX$1024.09) |
| GBP → PKR(£500) | ₨188,078.26 | — | N/A |
| USD → NGN($200) | ₦280,897.92 | ₦269,933.91 | Remitly (+₦10964.01) |
Amounts shown are what the recipient receives. Based on current scraped data, updated every 6 hours.
Key differences between Remitly and Wise
Remitly vs Wise: Feature comparison
| Feature | Remitly | Wise |
|---|---|---|
| Overall rating | 4.5/5 (Excellent) | 4.7/5 (Excellent) |
| Fee structure | From $0 to $3.99 per transfer | Variable fee from 0.41% |
| Exchange rate markup | 0.5% - 2% above mid-market | 0% (mid-market rate) |
| Transfer speed | Minutes to 3-5 days | Instant to 2 days |
| Supported countries | 100+ | 80+ |
| Supported currencies | 40+ | 50+ |
| Max transfer | $10,000 | $1,000,000 |
| Payment methods | Bank Transfer, Debit Card, Credit Card | Bank Transfer, Debit Card, Credit Card, Apple Pay |
| Delivery methods | Bank Deposit, Cash Pickup, Mobile Money, Home Delivery | Bank Deposit, Wise Account |
| Regulators | FinCEN, FCA | FCA, FinCEN, ASIC |
| Founded | 2011 | 2011 |
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
Wise
Pros
- Uses real mid-market exchange rate
- Transparent fee structure shown upfront
- Multi-currency account available
- Fast transfers to many countries
- Regulated in multiple jurisdictions
Cons
- Credit card payments have higher fees
- No cash pickup option
- Transfer limits may apply for new accounts
When to choose Remitly vs Wise
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 Wise if:
- You want the real mid-market exchange rate with no hidden markup
- You're sending large amounts (Wise supports up to $1,000,000)
- You need a multi-currency account to hold and convert balances
- You need a business account for commercial payments
Verdict: Remitly or Wise?
Cost winner: Remitly
Remitly wins on cost in 4 of 6 corridors we tested. For example, on USD → INR ($1,000), the recipient gets ₹68.93 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. Remitly typically delivers in Minutes to 3-5 days, while Wise takes Instant to 2 days. The actual speed depends on the corridor and delivery method.
Coverage: Comparable reach
Both providers have comparable coverage. Remitly supports 100+ countries and 40+ currencies, while Wise covers 80+ countries with 50+ currencies.
Bottom line
Overall, Remitly edges ahead for most users thanks to transparent pricing with the real mid-market exchange rate. That said, Wise is the better pick if you need transparent, low-cost transfers.
Frequently asked questions
Is Remitly or Wise 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 Wise charges Variable fee from 0.41% with a 0% (mid-market rate) markup. For example, on a $1,000 USD → INR transfer, Remitly delivers ₹68.93 more. However, costs vary by corridor, so always compare for your specific route.
Which is faster, Remitly or Wise?
Remitly typically completes transfers in Minutes to 3-5 days, while Wise takes Instant to 2 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 Wise safe to use?
Yes, both are regulated money transfer services. Remitly is regulated by FinCEN, FCA and has a 4.5/5 Trustpilot rating. Wise is regulated by FCA, FinCEN, ASIC with a 4.7/5 Trustpilot rating. Both companies are required to safeguard customer funds under their respective regulatory frameworks.
What are the transfer limits for Remitly vs Wise?
Remitly has a maximum transfer of $10,000 (minimum $1), while Wise allows up to $1,000,000 (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 Wise?
Remitly offers Bank Deposit, Cash Pickup, Mobile Money, Home Delivery. Wise offers Bank Deposit, Wise Account. Remitly supports cash pickup, which is useful when recipients don't have a bank account.
Should I use Remitly or Wise to send money internationally?
For most users, Remitly offers better overall value thanks to transparent pricing with the real mid-market exchange rate. However, Wise is the better choice if you need transparent, low-cost transfers. The best provider for you depends on your corridor, transfer size, and whether you need features like Home Delivery.