Personal Finance · head to head
Remitly vs TransferWise
The short version
- Only TransferWise has a free tier, so it costs nothing to try first.
- Each has a real cost: Remitly no fee schedule, exchange rate margin or transfer limit is published; the cost is disclosed only after starting a transfer for a specific corridor; TransferWise wise Card only available in selected countries, excluding major markets like UK
- They diverge on capability: Remitly covers International remittances, TransferWise covers International transfers.
Where they differ
Only the attributes on which Remitly and TransferWise actually diverge.
| Attribute | Remitly | TransferWise |
|---|---|---|
| Starting price | On request | Free |
| Pricing model | transaction | Unknown |
| Free tier | No | Yes |
Identical on both: platforms (Web, IOS, Android), user rating (Not yet rated), category (Personal Finance), founded (2011).
What each one covers
Drawn from each product's published feature list. An absence here means we hold no record of it - not that the product lacks it.
Only in Remitly
- International remittances
- Multiple delivery methods
- Send money to 200+ countries
Only in TransferWise
- International transfers
- Real exchange rates
- Multi-currency accounts
Both cover
- Currency conversion
- Bank accounts
- Web support
- IOS support
- Android support
What people use each for
The jobs each tool is most often brought in to do.
Remitly
- Sending cross border remittances from a phone or browsernot TransferWise
- Delivering funds to bank accounts, cash pickup and mobile wallets abroadnot TransferWise
TransferWise
- Budget Managementnot Remitly
- Expense Trackingnot Remitly
- Investment Trackingnot Remitly
Where each one falls short
Documented limitations, not opinions. Every one is a constraint you would hit in normal use.
Remitly
- No fee schedule, exchange rate margin or transfer limit is published; the cost is disclosed only after starting a transfer for a specific corridor
- The Express and Economy delivery options have no published price difference
TransferWise
- Wise Card only available in selected countries, excluding major markets like UK
- Mid-market rate is still 0.33-0.5% plus spreads higher than interbank rates
- Business accounts have additional requirements and higher minimums
Pricing, plan by plan
Remitly
On request- Express$undefined/month
- Fast transfers
- Multiple delivery methods
- Economy$undefined/month
- Lower cost option
- 3-4 day delivery
TransferWise
Free- Personal AccountFree
- Free account opening
- Transfer in 40+ currencies
- Mid-market exchange rates
- Transfer fees$undefined/per-transfer
- Transparent fees shown upfront
- Average total cost 0.5-1%
Which should you pick?
Choose Remitly if
- You need international remittances.
- You work on Web, IOS, Android.
- You also want multiple delivery methods.
Choose TransferWise if
- You need international transfers.
- You want to start without paying.
- You work on Web, iOS, Android.
- You also want real exchange rates.
Questions people ask
- Is Remitly or TransferWise better?
- Neither clearly leads. Remitly starts at On request and TransferWise at Free, and user ratings are close enough to be indistinguishable. Choose on capability and platform support.
- Which is cheaper, Remitly or TransferWise?
- TransferWise has a free tier; the other does not. Paid plans start at On request for Remitly and Free for TransferWise.
- Does Remitly or TransferWise run on more platforms?
- Remitly runs on Web, IOS, Android. TransferWise runs on Web, iOS, Android.
- Can I use TransferWise for free?
- Yes. TransferWise has a free tier, so you can try it without paying. Remitly starts at On request.
- What is Remitly best used for?
- Remitly is most often used for sending cross border remittances from a phone or browser, delivering funds to bank accounts, cash pickup and mobile wallets abroad. Of those, sending cross border remittances from a phone or browser and delivering funds to bank accounts, cash pickup and mobile wallets abroad are not what TransferWise is typically brought in for.
- What can Remitly do that TransferWise cannot?
- Remitly covers International remittances, Multiple delivery methods, Send money to 200+ countries. TransferWise covers International transfers, Real exchange rates, Multi-currency accounts. Both handle Currency conversion, Bank accounts, Web support, IOS support.
Answered from the vendors’ own pages
TransferWise: How much does Wise charge for transfers?
Wise charges a small fee (typically 0.33% to 0.5% of transfer amount) plus shows you the mid-market exchange rate. Total costs are usually 0.5-1% compared to banks charging 3-6%.
SourceTransferWise: Can I open a Wise account for free?
Yes. Opening a Wise personal account is free with no monthly or annual fees. You only pay when you actually make a transfer.
SourceTransferWise: How many currencies does Wise support?
Wise allows you to hold and exchange money in 40+ currencies, and send payments to 160+ countries with spending available in 150+ countries.
SourceTransferWise: Does Wise offer a debit card?
Yes. Wise Multi-Currency Card is available in selected countries including Australia, Brazil, Canada, Japan, and others. It uses mid-market exchange rates and has no annual fee.
SourceTransferWise: How does Wise work without traditional banking?
Wise holds local bank accounts in each country it operates. When you send USD to EUR, Wise receives your dollars in the US and releases euros from its local European account to your recipient.
Source