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We only list companies that are trustworthy and appropriately licensed. Our aim is to give you a comprehensive view of the regulated money transfer marketplace.
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MoneyTransfers aims to help users find the best money transfer provider for their needs. To support our free service, we may earn a commission from some of the providers listed in our search results. The commission may also impact the ordering of the providers shown. Our reviews are independent from this and are based on our editorial policy, research and testing of dozens of remittance providers on the market.
Table of contents
Wise is cheaper than Remitly in most cases, however, Remitly offers cash pickup and home delivery.
Both services have strong use cases, but you need to know where each one shines to make a better decision.
Both companies are safe to send money abroad, but one is likely to be better for your needs than the other. Read on to learn more.
The main reason for the win is the mid-market exchange rates, while Wise charges a fee for transfers, Remitly charges a fee and adds a markup to their exchange rates.
Wise has a varied fee structure comprising a fixed and variable fees.
But the key takeaway is the mid-market exchange rate offered.
This means you don't lose out on any exchanges with Wise, you just pay them the fee for transferring.
Check the table below to see exactly what we mean.
Remitly’s transfer fees depend on how much you send and the delivery speed you opt for.
If you send more than $500 and pay using your bank account with Remitly, you won’t be charged any fees.
But Remitly also adds a margin to their exchanges. The markup can go up to almost 4% above the mid-market rate, depending on the currency pair (see the the Remitly's live rates below).
This means that the amount your transfer ends up costing will depend a lot on which currencies are involved.
If you were to convert the same amounts and currencies as above, this is what it would cost you (and how much you will get in the end).
No results, please ensure you have currencies selected
Wise deposit and withdrawal methods
Wise offers more payment options than Remitly, including:
Bank transfer
Wire transfer
Debit and credit card
Apple Pay & Google Pay
Paypal
And a range of local deposit options (like Pix, Interac e-transfer, PayID, and others)
However, when it comes to withdrawals, you are mostly limited to:
Bank account deposit
Account deposit (multi-currency account)
Debit/credit card
It's not bad, as these are the cheapest and mostly used withdrawal methods, but it's clearly missing cash pickup and airtime (check our WorldRemit review if you need airtime transfer).
Remitly deposit and withdrawal methods
It's the opposite with Remitly, you have less deposit options but better withdrawal options.
With Remitly you have the following deposit options:
Bank transfer
Debit/credit cards
Google pay
Which again, is fine majority of transfers.
However, Remitly has more payout options. These include:
Bank transfer
Cash pickup
Mobile money
Home delivery
This makes it perfect for sending money to those without bank access.
Additional features comparison
Wise's coverage is not the only strong side, as already mentioned, Wise offers a multi-currency account, P2P transfers for domestic payments between friends and family, as well as offers a business account (same as Remitly).
Where Wise really pulls ahead is its additional features.
As a combined remittance service and bank, Wise allows you to open a multi-currency bank account, capable of holding up to nine different currencies at once.
You also get access to a payment card that can be used overseas free of charge, so long as you have enough of the correct currency in your account.
And you can make transfers between Wise users for free (known as P2P transfers).
However, Remitly has been improving their product over the last year, and soon releasing Remitly One.
The Remitly site isn't the easiest to navigate, and the app has its issues.
Wise keeps everything as easy as possible, with a simple display of how to make your transfer, and a clear breakdown of the currencies you hold in your account.
I've been using Wise for over 3 years now and always had easy time sending or spending money with it.
Both providers are safe to use, but the transparency of Wise's fee structure and regulatory coverage gives it the lead.
What are regulators?
In simple terms, for a company to be able to make transfers from a country, it needs someone in that country to give it a stamp of approval.
That someone is usually a financial regulator. And it is different in every country, state, or region.
Like all the providers we recommend, Remitly is fully regulated to make financial transactions.
Remitly is regulated by the FCA and is holds multiple state licenses to be able to trade in the US and parts of Canada.
Remitly also employs a multi-level security system when you log in, helping keep your finances safe.
Wise on the other hand is regulated in 15 countries by FinCEN, FCA, ASIC, MAS, BSP, CNBV, BNM, KLFB, CMISA, BI, RBI, CCE, BCB, NBB, DIA.
As well as you can take advantage of their multi-factor authentication when you log in.
However, Wise's transparent fee structure gives it the edge, and you can work out exactly how much your transfer will cost before you make it by using the on-site calculator.
Here's the Remitly vs Wise side-by-side comparison:
In addition to the online reviews, our users have left feedback for both companies.
As you can see below, Wise and Remitly both have fair share of positive and negative reviews.
Wise user reviews
Would you recommend Wise?
Russell Pinkes
I can’t send money to Belize
No, I don't recommendNovember 19th, 2025
Katsiaryna
Once trying to open sire, was automatically blocked for no reason
No, I don't recommendOctober 5th, 2025
Alan
Unable to transfer money from Philippines to any other country. Philippines Wise does not work
No, I don't recommendOctober 1st, 2025
Anonymous
Retiro de dinero en transferencia
Yes, I recommendSeptember 6th, 2025
Uwe
great rates and service - unfortunately for some countries not yet available
Yes, I recommendAugust 25th, 2025
Martin Premprakash Anantharaman
On the first transfer to a hospital in NY they were already screaming that this was a sure scam and the same on my next transfer to a fried in Nigeria. They then summarily closed my account TERMINATING THE RUNNING TRANSFER TO NIGERIA, claiming that, hold on, I was being scammed🤦♂️ Sure, I could have appealed but immediately found that I would have had to provide so much intrusive detail that I desisted.
No, I don't recommendJuly 22nd, 2025
Martin Premprakash Anantharaman
Setting up is a bit unwieldy if you want to make a one-off transfer, as you have to create an account with complete identification - but it works and the process as well as charges are great.
Yes, I recommendJuly 18th, 2025
Anonymous
My brother wants to send me money from India to Nigeria but he's finding it difficult how can he do it
No, I don't recommendApril 17th, 2025
Mohammed
WARNING : Wise was Great until main office decided to ruin WISE By letting the TW India office control handling Random verifications and do what ever they want by insane replies and no replies etc.
If you want to waste your time and enjoy a journey into Black Hole of Insane then go ahead and try WISE !
No, I don't recommendFebruary 14th, 2025
Anonymous
Can't receive money from php to idr so far
I'm not sureJanuary 24th, 2025
sudheir
They don't allow transfer to Brokerage firms from India
No, I don't recommendJanuary 13th, 2025
Anonymous
Good app to transfer money
Yes, I recommendJanuary 13th, 2025
Anonymous
I didn't find Cuba on your list.
No, I don't recommendDecember 29th, 2024
Anonymous
cuba not work
No, I don't recommendDecember 22nd, 2024
Nina
I made a transfer to a Canadian company 1.5 months ago, and the funds have not yet been received. After multiple emails, Wise insists that the money was paid out. However, I have received an official statement from the recipient’s bank confirming that the money has not been received. Wise's complaints department sent me a final letter stating that, according to their records, the funds were paid out.
Additionally, Wise states the following in their Customer Agreement regarding their responsibility for losses:
Quote from Wise's Terms:
"Our Customer Agreement also explains our responsibility for losses in Section 29:
29.1 Unforeseeable loss or damage. We are not responsible for any loss or damage that is not foreseeable. Loss or damage is foreseeable if either it is obvious that it will happen or if, at the time the contract was made, both we and you knew it might happen, for example, if you discussed it with us during your sign-up process.
29.9 We are not liable for things which are outside of our control. We (and our affiliates) cannot be liable for our inability to deliver or delay because of things which are outside our control."
Despite these terms, Wise has not been able to resolve this issue, and the money has still not been delivered as promised.
I find it irresponsible that Wise does not conduct any investigations into the matter. The Canadian bank associated with Wise is unable to provide any information, as everything goes through Wise. Wise must be capable of tracking the funds and providing precise details about where exactly the money is, who received it, and to which bank account it was deposited.
I would advise everyone to be cautious when transferring large sums of money with Wise. They are not capable of executing a secure money transfer!
No, I don't recommendDecember 8th, 2024
Shengjie Yin
good and perfect
Yes, I recommendDecember 2nd, 2024
Tristan
Beware: Wise's Unethical Policies and Unresponsive Support Cost My Business
I am sharing my experience with Wise to warn fellow business owners about the serious risks and unacceptable practices you may encounter if you choose to use their services.
My business, is a legally registered travel agency in the UK, and I relied on Wise to manage payments for my photography and cultural tours, primarily in South America. Things took a turn for the worse when Wise froze my account and accused my business of violating their Acceptable Use Policy, citing my once-a-year humanitarian trip to Cuba.
Despite explaining multiple times that:
No Cuba-related transactions were ever processed through Wise (I use a separate European bank for this purpose),
My tours comply with the “Support for Cuban People” category authorized by OFAC, designed to help Cuban citizens outside state control,
Wise completely ignored the facts. Their customer support team responded with automated messages, refused to engage in any meaningful dialogue, and even lied, claiming they didn't monitor my emails—despite clear evidence to the contrary. After days of chasing them and providing thorough documentation, they chose to close my account without justification.
The Consequences:
Wise left my business in chaos, disrupting essential transactions and client arrangements.
Their rigid policies align with sanctions widely condemned by the global community, and in doing so, they indirectly support humanitarian suffering.
The Bottom Line:
Wise is unreliable, unresponsive, and unethical. If your business has any complexity or humanitarian focus, beware: Wise will shut you down without notice or explanation, and customer support will abandon you. Their actions have serious real-world consequences.
Avoid Wise if you value your business stability or require ethical and accountable financial services. There are far better alternatives out there that won’t put your livelihood at risk Beware: Wise's Unethical Policies and Unresponsive Support Cost My Business
No, I don't recommendNovember 14th, 2024
Anonymous
I have been a customer for a few years. Yes I love the instant deposits as I make around $1K. However as many non US entities Wise uses a bank out of New York. Therefore the TRANSFER and DEPOSIT from an account transfer can take 4 to 6 days. What this means is that you will not able to make another ACH transfer during this time. This is frustrating if you have to make a follow up transfer in a few days. All in all don't plan to make more than 4 transfer in a month because it may not fo through, Not sure if other transfer companies operate the same way but I am about to find out as I will try Revolute. Bottom linw will require you to use ANOTHER payment method like credit card or some other method. Understand this: YOU MAY HAVE THE MONEY IN YOUR ACCOUNT but they WILL NOT TRY TO VERIFY IT WITHIN THE THE PERIOD IT WILL TAKE THEM TO DEPOSIT IT IN YOUR ACCOUNT. To add insult to injury I called in and the agent siad that they can see that they got paid but the computer takes time to update/reconcille I guess! It is a slow system!
I'm not sureNovember 7th, 2024
Anonymous
There is a lot of advice on RECEIVING INHERITANCE in the UK from overseas but nothing on the rules for SENDING money gifts to grandchildren living OVERSEAS and the rules on Inheritance Tax in that case.
I'm not sureOctober 29th, 2024
Anonymous
The service is decent, nothing more. I have had security issues that are not quickly resolved. Call center personnel are average. The app is not, in general, user friendly. You should definitely do research on a variety of service providers before making a choice. Do not take the reviews at face value. I chose Wise based on positive reviews but now regret not doing more research on other companies.
I'm not sureOctober 20th, 2024
Anonymous
So far so good
I'm not sureOctober 14th, 2024
Daniel
I checked to see if Wise even sends money to Colombia. Colombia is not even in their list of countries. Why is it even advertising for Colombia?
I'm not sureOctober 10th, 2024
Bill Sanders
I have used Wise for several years. They once rejected a large transfer because it was to a coal company. Apparently, they are a woke company! But they refused to tell me why. More recently, they required verification of my identity using a smart phone. I am 69 and never owned a cell phone because I don't need one. But they forced me to buy one, which I did last week. Getting the phone updates ate up all my data, so i got 1 GB more. I took 12 different pics of my passport and another 12 of my face for them. They rejected them - and are holding up my transfer. Now my phone ate up that gig of data and I must buy another gig (thru Tracfone) just to use the phone. What a hassle. This is not a photo studio! They know who i am already.
Note: This comment has been edited by the MoneyTransfers.com team to align with our content guidelines.
No, I don't recommendOctober 3rd, 2024
Ziggy Meilus
It used to be always instant, now it may come right away or it can take 5 even 7 days to get the money.
I'm not sureAugust 30th, 2024
Anonymous
i've heard of people having issues with accounts being locked/restricted, but i think that was mostly for business accounts, maybe they were locked for good reason. for me, i've had no issue with my account though i've only used it for small transfers and not very often, over the past 5+ years
Yes, I recommendJuly 26th, 2024
Showing 10 out of 25 reviewsShowing 25 out of 25 reviews
Remitly user reviews
Would you recommend Remitly?
Anonymous
The Exchange rates are Terrible. Lost £150.00 by sending £5000
That is a huge amount. When other companies have much better rates. costing about £25-£35 for the same amount of funds transferred
No, I don't recommendSeptember 20th, 2025
Anonymous
Was told the money would be there same day, transferred money for an emergency 3 days later and they keep saying something different each time we call. It’s not a small amount of money and the money is no longer in our bank account.
No, I don't recommendAugust 29th, 2025
Andrew Lippert
Too convoluted - Not worth the time
No, I don't recommendAugust 5th, 2025
Anonymous
MY BANK REFUSE TO DO BUSINESS WITH THIS COMPANY
I'm not sureJune 30th, 2025
Anonymous
I am not currently a customer, having an experience of delivery to the wrong account and slow resolution with MoneyGram .
I'm not sureJune 16th, 2025
Jymmy François
Okkkkkkkkkkk
Yes, I recommendMay 19th, 2025
Ray
After 14hours of waiting & 6 phone calls by me, recipient never received currency, was told overseas bank problem. Used another currency operator, money arrived in seconds. Poor Show, now waiting for full refund!
No, I don't recommendMay 16th, 2025
Anonymous
Can't send to Russia
No, I don't recommendFebruary 14th, 2025
Anonymous
Good service
Yes, I recommendFebruary 2nd, 2025
Anonymous
Not possible to send money to a bank account
No, I don't recommendJanuary 17th, 2025
Kenneth Thomas
The funds I needed arrived in minutes and saved me. It was an easy and straight forward process. Thanks Remitly
Yes, I recommendDecember 14th, 2024
Anonymous
Good option
Yes, I recommendNovember 8th, 2024
Anonymous
good and easy
Yes, I recommendOctober 28th, 2024
Anonymous
First time user. So far is fast and easy.
Yes, I recommendSeptember 28th, 2024
Anonymous
Currently unavailable to send money from USA to Russia
No, I don't recommendSeptember 27th, 2024
Showing 10 out of 15 reviewsShowing 15 out of 15 reviews
With 6+ years of hands-on experience in international money transfer services, Artiom has tested and analyzed dozens of companies, services, and apps firsthand. From sending money between the UK, EU, US, JP, and ID, to helping friends and family transfer large amounts abroad, he combines deep personal experience with industry insight.
He has worked on content and product at MoneyTransfers.com since 2019, with a focus on FX rates, transfer apps & companies, and comparison tools. His work has been featured in Forbes, Yahoo Finance, Decrypt, PoundSterling, and more.
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