Remitly exchange rate: A complete guide

Remitly® is a popular money transfer app. You can use your digital account to send and receive international money transfers across the world.

Let’s take a look at everything you need to know about Remitly currency exchange, including currency conversion rates, transfer charges, and how much it costs to send your money overseas via Remitly.

We'll also introduce Wise — your international money transfer alternative. Use Wise to send stress-free transfers to over 140 countries - all at the standard mid-market exchange rate.

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What is an exchange rate?

So, what is a currency exchange rate? When you use your US dollar bank account to pay in a foreign currency, your bank will convert your money into the right currency for your payment.

Your bank will set its own exchange rates for the transaction, which may include a markup on the standard rate for currency conversion.

This rate can be as much as 3% of your transfer amount. This is how banks make their money, but it can add a hefty cost to all your international transfers.

If you have a multi-currency account with a provider like Wise, you can avoid these charges by sending and spending money in local currency.

However, most providers will only let you hold funds in US dollars, so you’ll pay to convert your money into the correct currency for your recipient.

Look out for the mid-market exchange rate. This is the standard rate for currency conversion, based on the interbank buy and sell rates for foreign currencies.

It’s the rate you might find online, with no added markups or hidden fees for currency exchange. You’ll only pay for what you spend.

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What is Remitly’s exchange rate?

Remitly’s currency exchange rate differs by location and customer status. You’ll likely pay an exchange rate markup for some transactions, as well as Remitly’s transfer fees.

Let’s take a closer look at everything you need to know about Remitly currency exchange, including exactly how Remitly’s exchange rates work.

Promotional rate

Remitly’s exchange rate system is a little misleading. In advertisements, the provider claims to offer favorable exchange rates and zero-fee transfers, but that isn’t always the case.

If it’s your first time sending money via Remitly, you can access a first-time promotional rate for your transaction. This is the advertised exchange rate – and it may be the standard interbank rate for currency conversion.

However, for any future transfers, you’ll pay Remitly’s regular exchange rate. This is likely to include a markup, which may push up the cost of your international transactions.¹

The first-time favorable exchange rate also only applies to a certain transaction limit. This differs by location. For example, you can send up to 1000 USD to Mexico¹, 10,000 USD to India², or 1500 USD to Canada.³

Any excess funds will be charged at Remitly’s regular rate, including hidden fees for currency conversion.¹

Express vs Economy rate

Remitly uses 2 different transfer rates – Express and Economy. The provider charges a more expensive currency exchange rate for Express transfers. However, your payment should reach your friends and family at a faster rate.

Remitly’s Economy transfers will take longer to reach your recipient, but you’ll typically not pay as much to convert your money.⁴

Popular routes

There are a few popular routes for money transfers via Remitly, including US dollar to Indian rupee (INR) transfers and US dollar to Philippine peso (PHP) transfers.

Digital money transfer platforms are often faster, cheaper, and easier to use than banks. You can send and spend money abroad online, including in-app transfers and customer support.

However, Remitly is only intended for payments to friends and family, so the provider can’t take responsibility for any transfers to global merchants or people you don’t know.⁵

Let’s take a closer look at how much it costs to convert your money via Remitly. We’ll use Remitly’s regular exchange rate, which applies to all future transfers.

* Exchange rate calculations as of 24 November 2025

Remitly vs Wise exchange rate

Remitly uses a complex pricing structure for international transfers. The app’s exchange rate policy is a little hard to understand, as first-time customers and regular users will pay a different currency exchange rate.

In comparison, Wise uses a transparent and open pricing structure for everyone. You can access the mid-market exchange rate for all your global transactions – no markups, no hidden fees, no stress!

You can even use Wise’s transparent pricing calculator to work out exactly how much your transfer will cost before you come to send it.

Let’s take a closer look at Remitly vs Wise’s exchange rate for a 1000 USD transfer to Mexico. We’ll use Remitly’s regular currency exchange rate, which is likely to include a markup on the standard rate.

* Exchange rate calculations as of 24 November 2025

Remitly fees: Full breakdown

As with many money transfer providers, Remitly charges for currency conversion. For your first transfer, you’ll pay Remitly’s promotional rate, which may be close to the standard mid-market exchange rate.

For future transfers, however, Remitly’s rate is less favorable. Your conversion will likely include a markup or hidden fees.

On top of any charges for currency conversion, you’ll also need to consider Remitly’s transfer fees. The provider advertises zero-fee transfers, but again, this only applies to your first transfer.¹ After that, your fees will differ by location.

For example, it costs 1.99 USD to send a bank deposit to Mexico¹, whereas you’ll pay 2.99 USD to send money via cash pickup to Spain.⁸

Even for your first transfer, you can only access Remitly’s promotional rate for a set transaction amount. This means larger transfers may end up costing you a lot more than expected.

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*For more information, please visit https://payout-surge.live/us/large-amounts/%3C/a%3E.%3C/small%3E%3C/p%3E