Personal Finance

Is Remitly safe to use in the UK?

Tommy Buckley

29.06.23 (updated more than 1 year ago)

Read time 2 minutes

Thinking of using Remitly to send money overseas? The US-based company is an online money transfer specialist, which lets you send transfers from the UK to over 145 countries.¹

But how safe is Remitly to use in the UK? In this guide, we’ll run through everything you need to know about Remitly security. This includes regulation, security tech and anti-fraud measures, and how you can keep yourself safe while using the service

We’ll also show you a cost-effective and secure alternative - Wise.

Learn more about Wise 🤓

But for now, let’s focus on putting Remitly and its security under the microscope.

Is Remitly regulated in the UK?¹

Yes, Remitly is authorised and regulated in the UK by the Financial Conduct Authority (FCA) as a payment services provider.

It’s also a registered company at Companies House, and is registered with HMRC as a money service business.

Remitly security features and technology

So, what steps does Remitly take to keep your money and your data safe? Let’s run through a few of the security measures it uses:²

Account verification processes. Remitly takes steps to verify new accounts and users, to ensure high levels of security and protection.
Password security. This includes using a secure server connection for logins, which uses Secure Socket Layer (SSL) with 256-bit encryption.
Manual and automated risk management procedures. These are designed to identify suspicious activities.

Remitly has spending limits, which cap the amount you can send at once.

It will also refund your transfer fees if you’re not 100% satisfied, as well as offering a Perfect Delivery Promise. This gives you an exact date and time when your transfer will be delivered.³

Additionally, you can track Remitly transfers, and receive notifications so you know where your payment is up to.

What happens if something goes wrong with a Remitly transfer?

If your transfer doesn’t arrive or you have security concerns, you can contact Remitly 24/7 through:⁴

Live chat, available in English, French and Spanish
Phone - call 0808 169 2816.

Tips to stay safe while using Remitly

While Remitly takes lots of measures to protect your transfers, there are also things you can do to stay safe while using the service. Here are some tips:

Keep your account secure by choosing a strong password, and never sharing it with anyone.
Protect your device with biometric logins.
Add an extra layer of security by providing Remitly with your mobile number, so that it can use two-factor identification to verify you when you sign in.
Sign out on shared devices.
Be wary of online scams, phishing emails and paying people you don’t know (or whose identity you can’t verify).

Wise - a cost-effective alternative which could save you money

Remitly isn’t the only money transfer service out there, and it could pay to shop around to compare alternatives.

Open a Wise multi-currency account online and you can send money to 160 countries in 40 currencies. You’ll only pay low, transparent fees, and benefit from mid-market exchange rates with no margins added on top. Sending online transfers is quick, convenient and fully trackable.

Open a Wise Account Today 🚀

Wise also uses sophisticated security measures to keep your money safe, such as:

Two-factor authentication
Real-time notifications
Dedicated anti-fraud team working 24/7 to protect your account from even the most sophisticated fraud
Regular security audits.

Find out more about how Wise works here.

Please see the Terms of Use for your region or visit Wise fees & pricing for the most up-to-date information on pricing and fees.

Sources used:

Sources last checked on date: 22-May-2023

*Please see terms of use and product availability for your region or visit Wise fees and pricing for the most up to date pricing and fee information.

This publication is provided for general information purposes and does not constitute legal, tax or other professional advice from Wise Payments Limited or its subsidiaries and its affiliates, and it is not intended as a substitute for obtaining advice from a financial advisor or any other professional.

We make no representations, warranties or guarantees, whether expressed or implied, that the content in the publication is accurate, complete or up to date.