Remitly vs Ria Money Transfer

Are you wondering which is better: Remitly¹ or Ria Money Transfer²?

While both providers offer some handy services for sending money to loved ones around the world, the features and fees do vary - so comparing Remitly vs Ria Money Transfer, plus some other providers, is a good way to ensure you get the best available deal.

This guide walks through how Remitly and Ria Money Transfer measure up on important features. And to give you more options for your specific transfer we’ll also introduce an alternative - Wise. Wise lets you send money to 70+ countries from your phone or laptop, with the mid-market exchange rate and low, transparent fees. More on that later.

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Please see the Terms of Use for your region or visit Wise Fees & Pricing for the most up to date pricing and fee information.

Fees - Is Remitly Cheaper than Ria Money Transfer?

So - is Remitly better than Ria Money Transfer? There’s no straight answer here as it’ll all depend on the service you need, and what’s important to you. We’ll look in more detail at how both providers measure up based on some key features and metrics - but first, let’s get an overview of each, looking at features and fees:

Exchange Rates - Remitly Vs Ria Money Transfer

When you send money overseas you’ll need to check the exchange rate that’s used to convert your money to the currency you need, as well as any fee that applies to your transfer. Different services set their own exchange rates, which may mean there’s an extra fee tucked into the rate you get when sending money overseas. That can make it harder to see the full cost of your payment.

Let’s take a look at an example. Here are the exchange rates used to convert your pounds to rupees when sending money to India. Bear in mind that exchange rates change all the time based on movement in global currency markets - so you’ll need to double check the rates available when you set up your payment carefully. To help you see how Remitly and Ria Money Transfer calculate their exchange rates we’ve shown the live rates at the time of writing, plus the exchange rate available from an alternative provider - Wise.

Exchange rates correct at time of research - 24th March 2023

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As you can see in this example, Ria Money Transfer uses an exchange rate which has a variable exchange rate markup, so you’ll need to check the rate that applies for your transfer before you confirm it. Remitly offers a promotional rate for some new customers, to a maximum transfer limit. You’ll only be able to get this rate for your first transfer - so after that you’ll need to check and compare the Remitly rate to make sure it’s the best available for your transfer.

Wise uses the mid-market exchange rate to convert your funds to INR. That’s transparent, and can make it easier to work out exactly what you’re paying for the service you need. More on that later.

Remitly Vs Ria Money Transfer - Cash Collection Options

Ria Money Transfer and Remitly both have a selection of ways to get money to your recipient.

Remitly can offer cash collection payments in a selection of countries, and even has home delivery of cash in the Dominican Republic, Philippines or Vietnam.

Ria Money Transfer has a pretty expansive agent location - over 500,000 locations globally - which makes it easy both to set up a payment using cash, and to have your recipient get their money in cash at the other end. Just pick a convenient agent nearby when you set up your transfer.

Remitly Vs Ria Money Transfer - Pickup Locations

When you send a payment for cash collection with Remitly you’ll need to nominate an agent for your recipient to visit and collect their cash. They’ll then simply need to head to the agent location with an eligible form of photo ID, and can get their money in the currency they need with no extra fees. You’ll see the list of available locations in your destination country when you set up your Remitly transfer - and there are some tools online to pick a convenient agent, too⁸.

Ria Money Transfer has 500,000+ agents around the world, so the chances are that there’s one close to your recipient. Just use the agent locator tool online or in the Ria app⁹, to find a suitable place to get the payment.

Remitly Vs Ria Money Transfer - Transfer Times

The time it takes for an international money transfer to arrive depends on a broad range of factors, including the way you pay, the value of the transfer, the country it’s headed to and the way you want it to be received.

Remitly has a couple of different delivery speeds for payments from the UK. If you pay by card you can choose an Express delivery which could be available for your recipient in just a few minutes. Or, you can pay using a bank transfer. This is processed as an Economy payment, which usually means lower fees - but the delivery time will be longer too. Economy payments with Remitrly can take 3 to 5 days to be deposited.

With Ria Money Transfer, the way you pay also dictates the delivery time. Generally if you pay with a card, or by visiting an agent and paying in cash, you can have your money deposited in just a few minutes to a few hours. If you’re paying by bank transfer your money may take 4 days to arrive¹⁰. As with Remitly, the fees you pay for these different services can vary - the exchange rates may also be different based on how you set up your transfer. That may mean you pay more overall for a faster delivery time.

Remitly Vs Ria Money Transfer - Safety

Ria Money Transfer and Remitly are both licensed and regulated to offer services in the UK and in any other countries and regions they operate in. In the UK, they’re overseen by the Financial Conduct Authority (FCA), like most reputable financial service providers. This means they have to follow strict rules about how to keep customers and their money safe.

Remitly Vs Ria Money Transfer - Accessibility Options/Ease of Use

Ria Money Transfer and Ria both offer services through their websites and apps. Ria also has a broad agent network so you can transact in person.

If you need help, you can get in touch with both providers online and through in-app chat - Ria even offers a messaging service in over 100 languages. As Ria has a physical presence in the UK through its agent network, you’ll also be able to get face to face support and help if you need it by calling into a local Ria store.

Website

Ria Money Transfer and Remitly both offer their full range of account services and transfers through their websites. It’s helpful to know that while Ria Money Transfer also offers instant quotes without a registered account, Remitly can only finalise your fee and exchange rate quote once you register your account. That means you’ll need to create an account and get verified to double check what your payment will cost and how long it’ll take to arrive.

Mobile App

Remitly and Ria Money Transfer both have popular Apple and Android apps to check and manage your transfers on the move.

App Store Ratings

Before you choose which provider to use you’ll want to know the services available are easy to access and use. Sending money through a provider’s app is usually the most convenient option, as you can get started from anywhere. Both Remitly and Ria Money Transfer have highly rated apps. However, Remitly has far more reviews out there, on both Apple and Android:

• App store - Remitly scores 4.9 out of 5 from over 1 million reviews¹¹
• App store - Ria Money Transfer scores 4.9 out of 5 from over 68,000 reviews¹²
• Google Play - Remitly scores 4.8 out of 5 from over 580,000 reviews¹³
• Google Play - Ria Money Transfer scores 4.7 out of 5 from over 58,000 reviews¹⁴

Looking for an alternative? Check out Wise, for easy online and in-app transfers you can send to 70+ countries. Wise always uses the mid-market exchange rate with low, transparent fees, which can mean you get a lower overall cost on your transfer compared to using your bank or an alternative service. As with Ria and Remitly, you can easily use Wise from your smart device - here’s how customers rate the Wise app:

• App store- Wise scores 4.6 out of 5¹⁵
• Google Play - Wise scores 4.2 out of 5¹⁶

Learn more about Wise 😍

Please see the Terms of Use for your region or visit Wise Fees & Pricing for the most up to date pricing and fee information.

Which provider is best?

There’s no single best provider out there for sending money overseas. Different services have their own features and fees, so the right one for you will depend on where you’re sending money to, how you want to pay, and how you want your transfer to be received in the end. Comparing a few different providers is the best way to get a great deal.

Take a look at both Remitly and Ria Money Transfer - and also why not get a free no obligation instant quote from Wise. All you need to do is head to the Wise website and enter how much you’re sending and the country or currency, and you’ll be able to instantly check and compare the cost. Wise always uses the mid-market exchange rate which can drive down the price¹⁷ - and as Wise has its own delivery network, transfers can also be very fast, or even instant¹⁸. See which service is best for you, and start saving today.

Open a Wise Account Today 🚀