Is Remitly Safe? A Review:
The global digital transfer market is worth more than $16.2 billion. Every year, millions of consumers use services like MoneyGram and Western Union for cross-border transactions. These fintech companies compete for your business and offer low transfer rates.
One service that stands out is Remitly, a Seattle startup. Its mission is to change the lives of immigrants and their families for the better by enabling them to securely send money around the world.
Immigrants can use Remitla to send cash to over 124 countries, including Uganda, Nepal, Senegal and other developing countries. But is Remitly safe? Read on to find out!
How does Remitly work?
Remitly is a digital remittance service that allows immigrants in developed countries to transfer money to their families and friends. The company has partnered with financial institutions from around the world such as Axis Bank in India and Garanti Bank in Turkey. This allows it to provide a large number of cash pick-up locations in all major cities.
Using Remitla couldn’t be easier. All you have to do is register an account through the company’s website or mobile app, select a payment method and start the transfer.
Depending on the recipient’s location, you can choose from several delivery methods.
If you’re not sure how to proceed, visit Remitly and click Help at the bottom of the page. To get the information you need, enter “Send money by wire transfer” or a related term in the search box.
Can you trust Remitla?
Remitly has been around for over a decade, offering cheap options for sending money abroad. The company has received funding from Stripes, PayU and other leading organizations. In 2020, it raised $85 million in equity capital.
Its market value is growing year by year. It currently offers faster transfers, lower fees and better exchange rates than its competitors. In 2019, it made the list of Forbes’ Fintech 50.
It is also one of the few digital transfer services that comes with a money-back guarantee. In addition, it is a fully licensed business that meets the regulations set forth in each country where it operates.
The company also has its own team of security experts. All transactions are continuously monitored to prevent fraud and protect customer data. In addition, both the sender and recipients must prove their identity to use this service.
Remitly’s money transfer services are worth a try
Now that you know more about Remitly, go ahead and give it a try. This money transfer service is fast and convenient, making it easy to help your loved ones.
If you’re still wondering “Is Remitly safe?” check the company’s policy and search for customer reviews. You can also transfer a small amount of money to see how it goes.
In the meantime, check out the rest of our blog for more reviews and money saving tips! We’ll show you how to create a budget, what to look for in a financial planner, and more!
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Is Remitly Safe? A Review