Sending money from one country to another has simplified considerably since the turn of the last century, and people no longer need to deal with the typically high fees that banks charge for their services. Now, there are several specialist companies that carry out overseas money transfers for a fraction of the cost. However, whether you should go with Remitly or Western Union requires addressing different aspects.
One way to find out where the Western Union vs. Remitly comparison stands in the real world is to look at what their customers have to say, and Trustpilot gives you an easy way to accomplish this. On this platform, Remitly gets an average of 8.8 out of 10 whereas Western Union scores 8.0 out of 10. Since not much separates the two on this front, a further analysis is in order.
Your decision to go with Western Union or Remitly requires that you pay attention to other factors as well, because there are differences in their offerings. These sections throw light on what you need to know:
- Exchange Rates
- Ease of Use
- Regular Overseas Payments
Pay due attention to this section of the Remitly vs. Western Union comparison because different factors will affect the cost of your transfer.
- Fees depend on the transfer amount and the destination country
- Economy and Express transfers attract different fees.
- In some cases, Economy transfers are fee-free.
- Credit card payments come with extra fees.
- Fees depend on the destination country, the payment method, and the transfer method.
- Transfers to bank accounts are typically more cost-effective than transfers to cash pickup centers.
- Electronic bank transfers tend to attract lower fees when compared to debit and credit card payments.
- Use the price estimator to determine how much your transfer may cost.
Ease of Use
Whether you select Western Union or Remitly, signing up is simple and takes little time. However, both companies will verify your identity before activating your account. While both companies let recipients collect transferred money in person, Western Union has a wider outreach.
- This company operates dedicated websites for residents of U.S., the UK, Australia, Austria, Belgium, Canada, Denmark, Finland, France, Germany, Ireland, Italy, the Netherlands, Norway, Spain, and Sweden.
- Website access comes in English, Spanish, French, and Vietnamese.
- Cash pickup is not an option in all the countries Remitly supports.
- Accepted payment methods include electronic bank transfers, debit cards, and credit cards.
- It provides apps for Android and iOS.
- Website access comes in multiple languages such as English, Spanish, French, Portuguese, German, and Japanese.
- Available payment methods depend on where you live and may include cash, electronic bank transfers, debit cards, and credit cards.
- You may send money online, over the phone, or in person.
- Transfer methods are destination country-dependant and may include transfers to bank accounts, transfers to cash pickup centers, and topping off mobile wallets.
- This company lets you transfer money to inmates in American correctional facilities.
Regular Overseas Payments
Both companies falter in this section of the Remitly vs. Western Union comparison because they do not offer this functionality yet. If you wish to schedule transfers, consider using alternatives such as World First, OFX, HiFX, TorFX, or Currencies Direct.
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- Read updated OFX Coupon post. Learn more about Currencies Direct and FrontierPay comparison.