Remitly Money Transfer Review for Singaporeans

When it comes to sending money abroad, Singapore residents are spoilt for choice. From trusted banks to low-cost online services, the market is filled with options. Among them, Remitly stands out as an international money transfer service focused on speed and convenience. While it operates globally, Singapore users will notice that its features are slightly more limited than the U.S. version. However, for many — especially those sending smaller amounts to family or friends — Remitly can still be a valuable option.

Unlike services such as Wise, which centre on offering mid-market exchange rates and minimal fees, Remitly markets itself around speedy transfers and delivery reliability. If getting money to loved ones quickly matters more than squeezing out the best possible exchange rate, it could be worth considering. In this guide, we break down exactly how Remitly works for Singapore users, who it suits best, and its pros and cons.

*This review of Remitly Money Transfer is written for a Singaporean audience, taking into account the policies, governance and practices of the local context. Hence, all conversions or suggestions are from Singapore and use the exchange rates, terms and calculations applicable to the country.

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Who should consider using Remitly?

Singapore has a significant expat community with close ties to markets like the Philippines, India, Indonesia, and Bangladesh. For these users, Remitly’s delivery network and strong presence in those countries make it a practical choice.

Advantages of using Remitly

Remitly offers several benefits that make it attractive, particularly for urgent transfers:

• Express delivery can get funds to recipients within minutes.

• Multiple delivery options are available, including cash pickup, mobile wallets, and bank deposits.

• First-time users may enjoy promotional offers, such as waived fees.

• The platform provides a transparent cost estimate before you send money, so you know exactly what your recipient will get.

• The mobile app is user-friendly and has received positive reviews for ease of use and reliability.

While Wise is well-known for offering better rates, Remitly comes out ahead when urgency takes priority.

Limitations of Remitly

No service is perfect — here are a few drawbacks to keep in mind:

• Exchange rates typically include a markup, which may not be ideal for large transfers.

• Compared to services like Wise and InstaReM, Remitly can be more expensive for higher amounts.

• Fees can vary depending on the delivery method and speed, with faster delivery options often incurring higher charges.

• Daily transfer limits from Singapore tend to be lower than in some other markets.

» You may also wish to do a wire transfer from your bank 

How Remitly transfers work in Singapore

Remitly offers two key sending options, each catering to different needs:

• Express transfers: This method lets you pay by debit or credit card. Transfers are fast — often arriving within minutes — but come with higher fees and less favourable exchange rates. Be aware that credit card payments may incur additional charges from your card issuer, such as cash advance fees.

• Economy transfers: For lower fees and better exchange rates, you can use the Economy option. This involves paying by bank transfer and usually takes 3 to 5 business days for delivery.

For Singapore users, delivery methods include:

• Direct bank deposit

• Cash pickup (especially popular in markets like the Philippines and Indonesia)

• Mobile wallet deposits to platforms like GCash and PayMaya

» Compare the best ways to send money overseas

Understanding rates and fees

Before using any money transfer service, it is important to understand the key costs involved:

• Transfer fees: These are typically fixed or percentage-based, depending on the amount and delivery method chosen.

• Exchange rate margin: This refers to the difference between the mid-market exchange rate and the rate Remitly offers. For example, if Wise offers 1.35 SGD to 1 USD, Remitly’s rate may be closer to 1.32 SGD to 1 USD.

Although this may seem minor, rate differences can significantly impact the total cost when transferring large sums.

Fortunately, Remitly provides transparency by showing exactly how much your recipient will receive before you complete the transaction. This helps avoid surprises and is particularly useful when budgeting or meeting payment deadlines.

Tips for using Remitly and other transfer services wisely

Here are some practical guidelines for Singapore users sending money abroad:

• For transfers above $5,000, always compare rates — Wise or InstaReM could offer better value.

• Use Express delivery only for urgent situations, such as emergencies or tuition deadlines.

• If paying by credit card, check for potential extra fees from your issuer.

• Be aware of transfer limits — plan ahead if you need to send larger amounts over several days.

• Take advantage of first-time user promotions. These can help you reduce costs, especially on your first transfer.