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Software · head to head

Remitly vs Wealthfront

Remitly logo

Remitly

Software

Send money faster to loved ones abroad

From
On request
Rated
-
Full reviewWebsite
Wealthfront logo

Wealthfront

Software

Automated investing for your money

From
On request
Rated
-
Full reviewWebsite

The short version

  • 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; Wealthfront the Automated Investing Account carries a 0.25% annual advisory fee on top of the underlying fund expenses
  • They diverge on capability: Remitly covers International remittances, Wealthfront covers Automated portfolio management.

Where they differ

Only the attributes on which Remitly and Wealthfront actually diverge.

Attributes where Remitly and Wealthfront differ
AttributeRemitlyWealthfront

Identical on both: starting price (On request), pricing model (transaction), free tier (No), platforms (Web, IOS, Android), user rating (Not yet rated), category (Unknown), 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
  • Currency conversion

Only in Wealthfront

  • Automated portfolio management
  • Tax-loss harvesting
  • Financial planning
  • Index fund investing
  • Investment accounts

Both cover

  • 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 Wealthfront
  • Delivering funds to bank accounts, cash pickup and mobile wallets abroadnot Wealthfront

Wealthfront

  • Automated index fund investing with periodic rebalancingnot Remitly
  • Tax loss harvesting in a taxable brokerage accountnot Remitly
  • Buying fractional shares of individual stocks with no commissionnot 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

Wealthfront

  • The Automated Investing Account carries a 0.25% annual advisory fee on top of the underlying fund expenses
  • Tax-Loss Harvesting and automated rebalancing apply to the Automated Investing Account, not the self-directed Stock Investing Account
  • It is a US brokerage product and is not offered to investors outside the United States

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

Wealthfront

On request
  • BasicFree
    • Automated investing
    • Tax-loss harvesting
    • Rebalancing
  • Premium Plus$50/month
    • All Basic features
    • Financial planning
    • Human advisor access

Which should you pick?

Choose Remitly if

  • You need international remittances.
  • You work on Web, IOS, Android.
  • You also want multiple delivery methods.
Remitly review

Choose Wealthfront if

  • You need automated portfolio management.
  • You work on Web, IOS, Android.
  • You also want tax-loss harvesting.
Wealthfront review

Questions people ask

Is Remitly or Wealthfront better?
Neither clearly leads. Remitly starts at On request and Wealthfront at On request, and user ratings are close enough to be indistinguishable. Choose on capability and platform support.
Which is cheaper, Remitly or Wealthfront?
Remitly starts at On request and Wealthfront at On request.
Does Remitly or Wealthfront run on more platforms?
Both run on Web, IOS, Android, so platform support will not decide this one for you.
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 Wealthfront is typically brought in for.
What can Remitly do that Wealthfront cannot?
Remitly covers International remittances, Multiple delivery methods, Send money to 200+ countries, Currency conversion. Wealthfront covers Automated portfolio management, Tax-loss harvesting, Financial planning, Index fund investing. Both handle Bank accounts, Web support, IOS support, Android support.
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