Remitly: Send Money & Transfer
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4.8
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Developer
Remitly
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Category
Finance
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Version
6.34
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Android OS
8.0 and up
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Downloads
10M
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Content rating
Everyone
Pro
👍 Certainly! Here are three advantages of using the Remitly: Send Money & Transfer application:
👍 1. **Fast and Reliable Transfers**: Remitly offers various transfer speeds depending on the user's needs. Customers can choose between the "Express" option for faster transfers, often within minutes, and the "Economy" option for less urgent transfers, which can take a few days but may have lower fees.
👍 2. **Competitive Exchange Rates and Low Fees**: Remitly provides competitive exchange rates and transparent fee structures, which can result in significant savings compared to traditional banking methods. The app clearly breaks down fees and exchange rates before confirming a transaction, so users know exactly what to expect.
👍 3. **Global Reach and Flexibility**: Remitly supports money transfers to numerous countries around the world, offering a variety of payout options, including bank deposits, cash pickups, and mobile wallets. This flexibility makes it convenient for recipients to access the funds in a way that suits them best.
Con
👎 Sure, Remitly is a well-known money transfer service, but like any application, it has its own set of limitations. Here are three potential shortcomings users might encounter:
👎 1. **Transfer Fees**: While Remitly offers competitive rates, the fees can sometimes be higher than other money transfer services, particularly for express transfers. Users may find that they are paying more in fees for faster service compared to other, potentially slower, but cheaper options.
👎 2. **Limited Coverage**: Although Remitly covers a large number of countries, it doesn't operate everywhere. Users wishing to send money to less commonly serviced destinations may find that Remitly does not support transfers to those regions.
👎 3. **Exchange Rates**: Remitly, like many money transfer services, includes a markup on the exchange rate which could be less favorable compared to the mid-market rate. This means that users might receive less local currency on the other end of the transaction compared to some other services that offer more competitive exchange rates.
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