Remitly Terms of Service

Item: Remitly
Rating: 55
Author: Terms.Law Editorial Team

Last updated: December 2025 | Reviewed: February 2026

Delivery guarantees with refund promises, but exchange rate margins are less transparent than Wise. Verification delays can significantly impact transfer times.

Grade C+

Terms Summary: Remitly focuses on migrant worker remittances with delivery speed guarantees. Their promise to refund fees if transfers don't arrive on time is a positive differentiator. However, exchange rates include built-in margins that are less transparent than competitors like Wise. Identity verification requirements can cause delays, especially for new users.

Category Scores

Rate Transparency 52/100

Fee Clarity 65/100

Fund Protection 55/100

Account Termination 48/100

Dispute Resolution 62/100

Key Findings

✓ Delivery Time Guarantee

Remitly offers a delivery guarantee: if your transfer doesn't arrive within the promised timeframe, they'll refund your fees. This is a meaningful commitment that most competitors don't match.

"If your transfer doesn't arrive within our promised delivery window, we'll refund the transfer fee for that transaction."

✓ Multiple Delivery Options

Remitly offers bank deposit, mobile money, cash pickup, and home delivery in many corridors. The terms clearly explain different fees and delivery times for each option, letting users make informed choices.

⚠ Exchange Rate Margins Hidden

Unlike Wise, Remitly doesn't disclose how much they mark up exchange rates. The rate you see includes their margin, but you won't know how it compares to the mid-market rate without checking elsewhere.

"The exchange rate shown at the time of your transfer may include our margin. This rate applies to your entire transfer."

⚠ Verification Can Delay Transfers

Remitly requires identity verification that can be triggered at any time. While necessary for compliance, transfers may be held indefinitely while verification is processed, with no guaranteed timeline.

"We may require you to verify your identity before processing a transfer. During this time, your transfer may be delayed until verification is complete. Verification timelines vary."

⚠ Promotional Rate Limitations

Remitly frequently advertises promotional rates that apply only to first transfers or specific corridors. The terms allow them to modify or withdraw promotional rates with limited notice.

"Promotional exchange rates are subject to change and may be withdrawn at any time. Promotional rates may be limited to specific transfer amounts or corridors."

Terms Comparison

Feature	Remitly	Industry Standard
Delivery Guarantee	Yes, fee refund	Usually no
Rate Transparency	Margin not disclosed	Similar
Multiple Payout Options	Bank, cash, mobile	Varies
Verification Delays	No timeline guarantee	Similar
Customer Support	24/7 phone support	Often limited

Recommendation

Good for Speed Guarantees: Remitly's delivery guarantee is valuable if timing is critical. Their focus on migrant corridors means good coverage and multiple delivery options in popular destinations.

What to Watch: Compare the effective exchange rate to Wise or XE before transferring - the visible fee may be low, but the exchange rate margin may cost more than competitors. Complete verification proactively rather than waiting for it to delay a transfer. Promotional rates are often temporary.