When it comes to sending money internationally, Remitly has long been a popular choice. However, if you're looking for alternative platforms that offer swift and efficient global money movement services, there are several options worth considering. In this article, we explore four faster alternatives to Remitly.
Remitly offers two transfer options - Express and Economy.
- Economy: These take 3 to 5 business days for the funds to reach the recipient.
- Express: The estimated delivery time is usually within minutes to a few hours, depending on the recipient's location and the processing time of the receiving bank or financial institution, sometimes for a fee.
1. Parallax (www.withparallax.com)
Parallax is an emerging online money transfer platform that has gained traction for its speed, reliability, and user-friendly interface. Powered by cutting-edge technology, Parallax aims to provide seamless cross-border transactions at competitive exchange rates.
- Transfers into a Parallax bank account from a US account are through the ACH network. 80% of transactions happen same day. Latest is within 1-3 business days.
- With Parallax, once your funds land in your account, you can move your money within minutes
2. Wise (www.wise.com)
Known for its low fees and competitive exchange rates, Wise offers a straightforward process that ensures your money reaches its destination quickly and securely. But how fast can you receive your money?
- Transfers into a Wise bank account take within 1-3 business days.
- In popular currency corridors, such as transfers between major currencies like USD, GBP, EUR, AUD, etc., Wise often completes transfers within a few hours to a couple business days.
- For less common currency routes or when additional security checks are required, transfer times may take up to 1-2 business days.
3. WorldRemit (www.worldremit.com)
WorldRemit is another trusted alternative to Remitly, offering fast and affordable international money transfers. You can send money to more than 150 countries worldwide. The platform provides multiple payout options, including bank transfers, cash pickups, and mobile wallet deposits, ensuring flexibility for both you and your recipient.
- Generally, bank transfers can take 1-3 business days for the funds to reach the recipient.
- Cash pickups are often available for collection within minutes after the transfer is initiated.
- Mobile wallet deposits are usually completed within a few minutes.
4. Xoom (www.xoom.com)
Xoom offers a convenient and speedy way to send money across borders. They enable instant transfers to over 130 countries. The platform provides multiple delivery options, including bank deposits, cash pickups, and mobile top-ups, catering to diverse recipient preferences.
- For certain countries, Xoom offers instant transfers, allowing the recipient to receive funds within minutes.
- For other destinations, it can take 1-2 business days for the funds to be available to the recipient.
When it comes to international money transfers, Remitly is not your only option. Explore these alternatives to find the one that best aligns with your requirements and start sending money across borders with confidence.