Wise vs Remitly
Wise and Remitly both serve millions of international money transfers — but with different strengths. Wise consistently offers the best exchange rate (mid-market, no markup), while Remitly specialises in fast delivery and mobile wallet support for key corridors like the Philippines, India, and Central America. The choice often comes down to: do you need the best rate, or the fastest delivery?
Wise
FX margin: ~0% (mid-market) · Typical fee: 0.4–1.5% · Delivery: 1–2 days
Strengths
- Best exchange rate — mid-market, no markup
- Transparent total cost upfront
- Better for large amounts (lower % cost)
- No promotional bait-and-switch
Weaknesses
- No Express/instant delivery option
- No mobile wallet support (GCash, bKash)
- Fixed fee means higher % cost on small amounts
Remitly
FX margin: 1–3% (Economy); 0.5–1% (Express) · Typical fee: $0–$3.99 transfer fee · Delivery: Minutes (Express) to 3–5 days (Economy)
Strengths
- Express delivery in minutes for urgent transfers
- Supports GCash (Philippines) and mobile wallets
- First-transfer promotions for new users
Weaknesses
- Exchange rate markup on Economy transfers (1–3%)
- Express service costs more (higher rate + fee)
- Promotional rates disappear after first transfer
Side-by-side: how much your recipient gets
| Corridor | You send | Wise | Remitly |
|---|---|---|---|
| USD → PHP ($500) | $500 | ~₱29,400 | ~₱28,600 (Economy) / ~₱29,000 (Express) |
| USD → INR ($500) | $500 | ~₹46,300 | ~₹45,200 (Economy) |
| GBP → INR (£500) | £500 | ~₹54,200 | ~₹52,800 (Economy) |
Verdict
Wise is cheaper for most transfers above $300 thanks to its mid-market rate. Remitly is the better choice when you need Express delivery in minutes, or when your recipient uses GCash or another mobile wallet that Wise doesn't support.
FAQs
Is Wise cheaper than Remitly?
For most corridors and amounts above $300, Wise is cheaper than Remitly Economy — because Wise uses the mid-market exchange rate with no markup, while Remitly Economy applies a 1–3% margin. On a $500 transfer, Wise typically delivers $5–$15 more to your recipient than Remitly Economy.
When is Remitly better than Wise?
Remitly wins when you need: (1) Express delivery in minutes for urgent transfers; (2) GCash or mobile wallet delivery to the Philippines or other supported markets; or (3) small amounts where the rate difference is minimal. Wise does not support cash pickup, GCash, bKash, or other mobile wallets.
Does Remitly have hidden fees?
Remitly is transparent about its fees but the exchange rate margin is where the cost difference lies. Economy transfers use a 1–3% margin above mid-market. Always check the "recipient gets" amount in the comparison table — the margin is built into the exchange rate, not shown separately.
Can Remitly send to GCash?
Yes. Remitly supports GCash delivery for the Philippines corridor — this is one of its key advantages over Wise. Wise only supports bank account transfers; if your recipient uses GCash, Remitly or WorldRemit are better options.