Wise vs Remitly: A Full Comparison – 2024

Wise and Remitly both offer online or in app international payments to a broad selection of countries from Australia. You can choose to send to bank accounts and mobile money accounts with both services – or use Remitly for transfers for cash collection. Which wins between Wise vs Remitly for you might just depend on the service you need.

Join us as we walk through how they both compare on international transfers, plus the additional features you might be interested in like multi-currency accounts, card services and business products.

Summary: Wise offers international transfers to 160+ countries, and multi-currency accounts for convenient card spending, currency exchange and ways to receive payments for yourself and your business. Remitly offers international transfers to 170+ countries from Australia, but does not have business services or multi-currency account products.

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Wise vs Remitly: side by side

Wise and Remitly both let you send payments overseas – but the pay out options are a bit different between the two providers. Each service also has its own fees and exchange rates, as well as some unique features.

To give a flavour, here’s an overview of Wise vs Remitly side by side, looking at available features.

Feature Wise Remitly
Service availability Online and in app Online and in app
Multi-currency account Hold and convert more than 40 currencies – for personal and business customers


Debit card available, plus local receiving accounts for 10 currencies

Send money to More than 160 countries More than 170 countries
Pay in options Bank transfer, card or wallets like Apple Pay Bank transfer or card
Payout options Deposit to bank account, mobile money account deposits available in some countries Deposit to bank account, mobile money account, debit card and for cash collection
Transfer fee From 0.43% Variable fees based on payment details
Transfer speed 50% of payments are instant, 90% arrive in 24 hours Delivery times vary depending on the service you select
Exchange rates Mid-market rate Exchange rates include a markup
Regulated Y Y
Open a business account Y N

So, to summarise:

  • Wise and Remitly are both available in app and online
  • Wise offers international accounts and cards for personal and business customers – Remitly does not
  • Wise currency exchange uses the mid-market rate with fees from 0.43% – Remitly uses an exchange rate which includes a variable markup
  • Remitly and Wise both support bank transfer and card payments for deposits to bank and mobile money accounts, Remitly also has extras like transfers for cash collection
  • Wise transfer fees start from 0.43% – Remitly has varying transfer fees depending on the specific payment you need to make
  • Wise payments to banks can be instant – Remitly transfer times vary a lot, depending on the specific service you pick
  • Wise also has business accounts and services – Remitly does not offer business services, and personal Remitly accounts should not be used to transfer to businesses
  • Both providers are fully regulated, in Australia and elsewhere in the world

Read more about Wise here

Read more about Remitly here

The important bits

Here’s a comparison of Wise vs Remitly on key features including fees, safety and speed, which may help you decide which is right for you:

Wise Remitly
Rates Mid-market exchange rate Exchange rates include a variable markup
Fees Free to spend currencies you hold with your Wise card


No monthly charges


Transaction fees apply – from 0.43% for currency exchange and international transfers

Variable fees depending on the way you pay in, the way you want the transfer to be received and the destination country
Speed 50% instant, 90% same day Delivery times are very varied depending on the service you select
Service Desktop browser and mobile app Desktop browser and mobile app
Safety Fully regulated and licensed Fully regulated and licensed
Reviews (TrustPilot) 4.2, Great, 204,000+ reviews 4, Great, 43,000+ reviews

To summarise:

  • Rates: Wise uses the mid-market rate, whereas Remitly applies a variable markup to the rates used
  • Fees: Wise accounts have no monthly fees, with currency exchange and transfer from 0.43%; Remitly fees vary depending on the type of transfer you make
  • Speed: Wise transfers may arrive instantly, and 90% arrive in 24 hours, Remitly transfer times depend on the service you select
  • Service: Both providers have online and in-app services
  • Safetly: Both providers are fully regulated and licensed
  • Reviews: Wise has a Great rating on Trustpilot from 204,000+ reviews, Remitly has a Great rating on Trustpilot from 43,000+ reviews

Pros and cons

Wise Remitly
✅Multi-currency accounts to hold 40+ currencies
✅ Payments to 160+ countries
✅ Local receiving account details for 10 currencies
✅ Payment cards for use in 150+ countries
✅ Mid-market exchange rates
✅ Send payments to 170 countries from Australia

✅Easy to use online and in app service
✅Send payments for cash collection, to bank accounts, mobile money accounts and debit cards
✅Choose a faster – and more expensive – delivery, or a cheaper, slower one
✅ Pay by card or bank transfer

❌ Some service fees apply
❌ No physical location for face to face services
❌Exchange rates include a markup

❌Variable fees apply depending on how you set up your payment

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Wise vs Remitly: The verdict

Remitly and Wise both allow you to send money digitally to bank accounts and mobile wallets. Remitly has extra pay out options including cash collection – while Wise also has a multi-currency account to allow customers to hold and exchange money and spend with a linked debit card. Which is best for you may just depend on the service you need.

If you want to send a payment overseas, it helps to know that Remitly uses variable transfer fees and a marked up exchange rate. Wise uses the mid-market rate and splits out all the costs of sending a payment overseas – this can make it easier to spot exactly what you’re paying for currency conversion. Wise also has a multi-currency account with a linked international debit card, and ways to get paid by others conveniently in a selection of currencies. Remitly does not provide multi-currency accounts or cards.

Remitly serves slightly more countries – with payments to 170 countries compared to Wise’s 160 countries. However, if both Wise vs Remitly offer the type of transfer you need to make it’s worth comparing them carefully to see which is best for you.

Go to Wise Go to Remitly

About Wise and Remitly

Wise: Wise was founded in the UK in 2011, and offers low cost cross border transfers, multi-currency account services, debit cards and business products. Today, Wise has over 16 million customers globally, and has maintained its focus on offering mid-market rate currency conversion and speedy payments. All Wise services are delivered online and in app, with transparent fees and low overall costs.

Remitly  has also been around since 2011 and lets customers send money to 170 countries from Australia. Remitly payments are for personal use only, and the service was initially set up to allow people living and working overseas to send money home more easily. Over time, the number of payment routes has increased, and you can now send money for a selection of different pay out methods, to many different destination countries.

How do they work?

Register with Wise online or in the Wise app by entering your personal and contact information, and get verified by uploading an image of your ID documents. You can then send overseas payments or open a multi-currency account for 40+ currencies, which comes with an optional debit card. When sending money overseas, you’ll pay using a local payment from your bank, or with a card, which is usually cheap or free. Wise will then convert to the required currency with the mid-market rate and deposit the funds to your recipient’s bank or mobile money account.

With Remitly you’ll need to register before you can generate a price quote or set up a payment. Once you’ve got a live Remitly account you can send money online or in app by selecting the country you want to send money to, and the value of the payment. Fees and rates vary depending on factors including how you pay, the value of the transfer, and what currency is needed.

Wise vs Remitly fees

Wise and Remitly have different products – and therefore, different fee types. Here’s a rundown of the typical costs you’ll need to know about:

Service Wise fee Remitly fee
Ongoing fees No fee to open a Wise personal account, no ongoing fees No fee to register
Card fee 10 AUD Not applicable
Spend currencies you hold No fee Not applicable
Spend currencies you don’t hold From 0.43% Not applicable
ATM fee 2 withdrawals to the value of 350 AUD/month free, then 1.5 AUD + 1.75% Not applicable
Overseas transfers From 0.43% Variable fees based on payment type, value and destination

Fees correct at time of writing – 15th January 2024

Read more about Wise fees here

Wise vs Remitly: which is cheaper?

For international payments, a specialist service like Wise or Remitly could be cheaper than using a bank. However, fees and rates do vary a lot, so it’s still well worth shopping around before you pick one.

Wise payments use the mid-market exchange rate with transparent fees. There’s also a comparison tool you can use on the Wise website to see if Wise is cheapest for your transfer. If it’s not, you’ll be notified.

Remitly offers varying fees based on the payment type – which can often include a choice between Express or Economy transfers. Economy is cheaper but slower, Express costs more but can be faster. One challenge is that you can’t get a quote for Remitly payments online without first registering an account. That means that you can’t easily check the exchange rate that you’ll be offered for your payment, to compare it against other services, without signing up.

Bear in mind also that you need to look at both the fee and the exchange rate used when sending an overseas payment. That’s because it’s common to find services add an extra fee – a markup – to the exchange rate used. More on that next.

Wise vs Remitly exchange rates

Wise uses the mid-market rate for currency exchange – the same one you’ll find on Google or using a currency conversion tool. All the costs you need to pay are shown separately so you can easily compare and check the total amount.

Remitly uses a variable exchange rate markup when arranging international transfers. This markup is a fee, which varies depending on the currency, and the value of the transfer you’re sending. However, it’s not easy to spot without doing a bit of maths to decide if it’s the right one for you. To spot Remitly’s exchange fee, compare the Remitly rate against the mid-market rate you can find on Google – the difference is the markup.

Wise vs Remitly: which is faster?

50% of Wise payments to bank accounts internationally are instant, 90% arrive on the same day – although the exact delivery time can depend on factors including the destination country, and the recipient’s bank processing times.

Remitly payments have varying delivery times. You’ll often find you can pick between a cheaper, slower, Economy payment, or a more expensive but faster Express payment. You’ll see your options once you register an account and start to set up your transfer.

Wise vs Remitly international transfer limits

Wise has limits for both personal and business customers which can vary based on destination country – usually around 1 million GBP or the equivalent.

Remitly limits apply based on your account tier, and are set to cap transfers made every 24 hours, 30 days and 180 days. To increase your sending limit you need to upload more documents or complete extra verification steps. Tier 1 accounts can send 2,999 AUD in 24 hours, while a fully verified tier 3 account can send 10,000 AUD in 24 hours.

Ease of use

  • Creating an account: Create your account online or in-app with both Remitly and Wise
  • Making a transfer: Wise and Remitly both let you pay for a transfer by bank transfer or card. Wise also supports payments with a wallet such as Apple Pay
  • Ways to send money: Send payments to your recipient’s bank account or to mobile money wallet with both Remitly and Wise, Remitly also have cash collection options in some countries
  • Languages: Wise offers 15 languages, plus multi-lingual support services, Remitly offers online information in 15 languages, chat in 3 languages, and phone services in 2
  • Minimum & maximum amounts: Wise sending limits can vary by destination country, and based on your account type. Remitly lets you send a varying amount based on how you’ve verified your account – new account holders can send 2,999 AUD a day

Supported currencies

Remitly supports a broad selection of currencies for payments to 170 countries and territories globally. Wise supports 40+ currencies, and lets you send payments to over 160 countries.


Both Remitly and Wise are safe to use, and fully regulated for the services they offer. As global businesses, they’re both overseen by a selection of bodies, including ASIC and AUSTRAC in Australia, and other bodies such as the FCA in the UK.

It’s helpful to know that Remitly payments are intended for personal use only. You should only send to friends, family and people you trust – not to businesses.

Wise vs Remitly customer service

Wise customer service is primarily delivered through in-app chat, which is available in a selection of languages, 24/7. You can also email the team if you’d prefer – log into your Wise account to check which is the best way to connect with customer services based on your specific issue.

Remitly has an in app customer service option in English, French and Spanish, plus phone support in English and Spanish if you want to talk to someone in person.

Conclusion: Comparing Wise and Remitly

Remitly and Wise both offer convenient ways to make online and in-app international payments, but their pay out options vary.

You can send to bank accounts and mobile money wallets with both providers – but Remitly also offers transfers to debit cards and for cash collection. In addition to international payments, Wise also offers multi-currency accounts to hold 40+ currencies, and linked debit cards for spending and withdrawals globally.

When it comes to currency conversion the two providers also operate differently. Wise uses the mid-market rate and splits out all costs separately for ease of comparison. Remitly uses a marked up rate which includes an extra fee.

Ultimately, whether Wise vs Remitly is best for you may just depend on the service you need. Use this guide to compare your options, and to get a fee quote for your specific transfer, to see which suits best.

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FAQ – Wise vs Remitly

What is the difference between Wise and Remitly?

Wise and Remitly are global currency specialists which let you send payments digitally to banks around the world. On top of this, Remitly lets you send payments for cash collection, while Wise has multi-currency accounts for convenient spending in foreign currencies. Learn more about each provider in this handy guide.

Which is better: Wise or Remitly?

Remitly and Wise have their own features and fees, so you’ll need to compare both using this guide to see which is best for you. If you’re sending a digital payment to a bank account, either may be able to help – if you want to transfer for cash collection, choose Remitly, but if you want a multi-currency account, Wise may be your best bet.

Is Wise or Remitly cheaper?

It’s important to shop around before you confirm your transaction to make sure you get the best deal. However, you can’t generate a quote for fees or exchange with Remitly unless you sign up for an account. Once you’ve done so, you’ll be able to compare the costs with other services like Wise, to see which is best for you.

Is Wise or Remitly faster?

50% of Wise payments are instant, 90% arrive on the same day. Remitly payment times vary depending on the type of transfer you pick. You can often choose a cheaper and slower payment, or a more expensive transfer which arrives faster.

How many currencies do Wise and Remitly support?

Remitly supports payment routes to 170+ countries and territories. Wise supports 40+ currencies, and lets you send payments to over 160 countries.

Claire Millard
Fintech copy and content writer
Claire Millard is a content and copywriter with a specialty in international finance. Her work has featured in The Times and The Telegraph, as well as industry magazines and leading personal finance blogs.
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Ileana Ionescu
Content manager
With a background in business journalism, Ileana is an experienced content manager, creating content for Exiap that helps its audience make informed decisions about their finances.
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Last updated
March 12th, 2024