Remitly Money Transfer Review| North Loop Official Blog
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North Loop
20 Apr 2020

Remitly Money Transfer Review

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About Remitly Money Transfer

As you’re looking to send money abroad, you may come across North Loop.

How to Use Remitly

To send money abroad online via Remitly, you need to go to their website or app.
  1. If you have an account, click on remitly login. If you don’t, create an account.
  2. You will then need to add a beneficiary
  3. Enter the amount you want to send
  4. Confirm the payment method (Remitly charges differently for different payment methods)
  5. Confirm the amount and send money

Get a zero-balance, no-fee NRE/NRO account with North Loop in 5 minutes

Remitly Rate

Remitly has different rates for how you choose to pay. If you pay ‘Express’, you will get a lower rate and pay with debit or credit card. If you choose ‘Economy’, you will get a better rate and pay with a bank transfer - this is slower than Express. Remitly also charges an additional 3% if you pay with your credit card.

Let’s have a look at Remitly India rates if you are trying to send USD to INR via Remitly:
RemitlyNorth Loop
Upfront Fee$3.99 for transfers under $1,000Free
USD to INR exchange rate75.99 INR for Economy.
75.64 INR for Express
76.56 INR
Delivery TimeWithin 24 hours for Express.
Up to 5 business days for Express
Within 24 hours
If you send USD 500, your
recipient will get:
37,593 INR38,280 INR

So your recipient would receive nearly Rs. 1,000 more using North Loop. We always recommend you check the fees and rates before sending money.

Remitly Overview

Send money to 45 countries
  • 3.99 fee for transfers below $1,000
  • Cheaper option takes up to 5 days to deliver
  • Remitly Fees

    Remitly
    Express OptionYou can pay for Express with a credit (extra 3%) or debit card. There are different prices for each country you're
    sending money to. For example, if you send to Mexico, it will cost $18.97, plus a $3.99 charge for amounts under $500.
    Economy OptionEconomy is paid by bank transfer. There are different fees for each country. For example, if you send to Mexico,
    it will cost $19.35, plus a $3.99 charge for amounts under $500.
    Exchange Rate CostsRemitly charges a better exchange rate if you use Economy vs. Express. However, both are still higher than other providers
    (such as North Loop).
    Any Other FeesCredit card payments cost 3% extra. Your bank may charge extra fees for making the transfer.

    Remitly Transfer Limit

    Remitly lets you transfer $6,000 in 24 hours. If you want to increase your Remitly Transfer limit,, you will have to contact customer care. Remitly doesn’t allow you to send money to businesses, so that is also a limiting factor.

    What are the currencies that Remitly supports?

    Remitly lets you send money to nearly 45 countries. Here are some of them:
    • India
    • China
    • Paraguay
    • Peru
    • Philippines
    • Poland
    • Romania
    • Russia
    • Rwanda
    • Senegal
    • South Africa
    • South Korea
    • Sri Lanka
    • Tanzania
    • Thailand
    • Tunisia
    • Turkey
    • Uganda
    • Ukraine
    • Uruguay
    • Vietnam

    Remitly Money Transfer Speed

    An Express transfer can take up to 24 hours, and Economy transfers take 3-5 business days. It’s important to note that there can be a significant difference in the exchange rate that the Express and Economy options offer - you can save a lot more money with Economy, but it is almost as slow as a SWIFT Transfer

    Remitly Customer Care

    You can also submit a form on the Remitly website to get contacted by Remitly customer service. You can do this by logging into your account (click remitly login USA) and click on Help.
    Remitly has a large FAQ section that you can consult before contacting them.
    Remitly customer care has a 24/7 phone number - the remitly customer care USA number is (888) 736-4859

    Save Money - Use North Loop

    Have you considered using North Loop to send money abroad? With North Loop you get lightning fast delivery times, transparent FX pricing, and a FDIC insured bank account as well. Sign up in 2 minutes North Loop.

    Save money with

    No-fee banking, investments, remittances & insurance for the global Indian

    This publication is provided for general information purposes only and is not intended to cover every aspect of the topics with which it deals. It is not intended be advice. You must obtain professional advice before taking, or refraining from, any action on the basis of the content in this publication. The information in this publication does not constitute legal, tax, investment or other professional advice from North Loop or its affiliates. We make no representations, warranties or guarantees, whether express or implied, that the content in the publication is accurate, complete or up to date. All opinions expressed do not reflect the views of North Loop nor are endorsed by North Loop.