Remitly vs Wise
Remitly
remitly.com
Wise
wise.comSide by side
| Figure | Remitly | Wise |
|---|---|---|
| Price from | Free | Free |
| Free plan | Yes | Yes |
| Free trial | — | — |
| Open source | — | — |
| Web | — | Yes |
| iOS | Yes | Yes |
| Android | Yes | Yes |
| Plans published | 3 | 1 |
| Spec score · Money Transfer Apps | 9.1 (#2) | 8.9 (#5) |
| Spec score · Peer-to-Peer Payment Apps | 8.7 (#4) | 8.1 (#13) |
| Exchange-rate model | variable | mid_market |
| Upfront fee display | Yes | Yes |
| Founded | 2011 | 2011 |
| Headquarters | Seattle, Washington, USA | London, United Kingdom |
| Mobile platforms | The app is available on iOS through the App Store and on Android through Google Play. | The Wise app is available for iOS through the Apple App Store and for Android through Google Play. |
| Recipient methods | Recipients may receive money by bank account, mobile wallet, cash pickup, mobile money, home delivery, or debit card deposit. | bank |
| Regulatory status | Remitly says it meets regulatory standards worldwide and is licensed as a money transmitter in listed U.S. jurisdictions. | Wise says it is licensed in most states and regulated by authorities worldwide. |
| Transfer speed | instant | On many popular routes, transfers can arrive within one day, the same day, or instantly. |
| Transfer tracking | Users can follow transfers in real time through the app, website, email, or SMS notifications. | The app shows the list and current status of transfers users have set up. |
Plans
Remitly
- Bank depositFree
- Cash pickup$2.99, paid once
- New customer promotional ratePrice not published
In their own words
Remitly
Remitly is a mobile app for sending money internationally, available on Android and iOS. It serves more than 175 countries and offers several ways for recipients to receive funds: bank account, mobile wallet, cash pickup, mobile money, home delivery, or debit card deposit. Senders can pay by bank transfer, debit or credit card, Apple Pay, or Google Pay. Before sending, the app displays the exchange rate, fees, and total cost; exchange rates are variable, and transfer speed is listed as instant. Transfers can be tracked, and recipients do not need to install the app or sign up. The app is free to download, and a free plan is listed. For transfers from the United States to France, bank deposit is free and cash pickup is $2.99, paid once. A new-customer promotional rate applies to the first 1,500.00 USD sent. Sending limits vary by sender and recipient location and apply over 24 hours, 30 days, and 180 days. Remitly says it refunds fees if a transfer is not delivered on time.
Wise
Wise is a money app for sending money, receiving payments from abroad, checking exchange rates, paying bills, and sending money to loved ones. It sends to bank accounts in over 140 countries; delivery on many popular routes is within a day, the same day, or instant. Wise says it uses the mid-market exchange rate and displays fees before payment. Signing up is free, with no subscription; sending and conversion fees vary by currency and start from 0.33%. Sending to another Wise account has no sending fee, though conversion fees may still apply. Transfers can be funded with Apple Pay, Google Pay, cards, or bank transfer. Users can track and schedule transfers, repeat previous transfers, and receive live exchange-rate notifications. Wise says it safeguards customer money separately from its own and uses two-factor authentication to protect accounts and transactions. Photo ID may be required for some currencies or large transfers. The app is available on Android, iOS, and web.