If you have just arrived to UK here for work or education or even for permanent place to stay . Leaving loved ones home abroad can be difficult and to send them money can be very difficult to choose from and to find a right service to transfer money faster , reliable and in a secure way . Family and relatives and friends are all important to us we all want to look after them or sending money as a gift in any occasions or moments to support them
Below are many ways you can send money to your loved ones anywhere in the world in a faster, relliable secure way.
How does Remitly work?
Remitly is a digital remittance service on a mission to make the money transfer process faster, affordable, and more transparent. Because they are digital service without any physical locations, they are able to keep thier costs low and pass those savings on to you. All while protecting your hard-earned money as it makes the journey back home.
Remitly is an online money transfer service that operates in the United States, Canada, and the UK. The company was founded by Matt Oppenheimer in 2010 with the name Beamlt Mobile. After the company moved from Idaho to Seattle, and with the addition of the new co-founder, Josh Hug, BeamIt Mobile was renamed Remitly. In 2013, the company doubled its transaction volumes over the year and today the company transfers money online to various countries around the world with a growing customer base
What types of services does Remitly provide ?
Remitly offers two different types services for thier clients , Economy and Express Delivery. If you choose the Economy transfer, you deposit money from your bank account and will have your money arrive to its destinations withion 3-5 business days without payinh high fees. You can send money to 40 countries around the world. As of Jan. 30, 2019, Remitly allowed transfers to 40 countries with another 10 coming soon. However, they do not allow domestic transfers in the United States
The other option you can have Express Transfer , the service is for people to transfer to people in need of money fast , this option may come with higher fees and need to be funded with your debit or credir card which might include addiational card processing fees. The advantage about this optyion is yiou can send money really fast and arrive within minutes to its destinations even though you have to pay a little abit extra. This optiion will be good for people who want to transfer really fast and willing to pay for fees. Higher fees for using credit cards. If you fund the transfer with a credit card, this company charges an extra fee of 1-3% of the total, depending on the country. They do this to offset charges from the credit card company.
What are the advantages and disadvantages of Remitly money transfer
Advantages
You can send money anywhere around the world within minutes. When you use Remitly Express service, they guarantee to delivery within minutes for international transfer.
They have Excellent customer service and can secure your money
Free set up account with limited paperwork, You can open an account just by entering in your name and contact information. There’s no fee to get started and they only ask for ID if the have difficulty verifying your identity.
There are bonus for new customer when you sign up, Remitly will also give you a better exchange rate on your first transfer if your refer someone else to their service and also remitly will pay you a cash bonus if you refer someone.
Disadvantages
No way to send in the United States. Remitly does not make money transfers to the United States, Canada or western Europe, but there are plenty of apps you can access that do.
No in-person customer support. Remitly is online only. There’s no way to meet someone in person for help.
Higher fees for credit cards. Remitly charges a 1-3% fee on the amount sent when you use a credit card, instead of debit card or a bank account. The amount depends on the country
You can send money to 40 countries around the World with more coming soon. The countries are spread between Asia, Latin America, Africa, Europe and South America. However, you cannot send money within the United States.
But when you pick Express, the company will give you a worse exchange rate.
HERE ARE EAMPLE OF STEPS HOW YOU CAN CREATE AN ACCOUNT WITH REMITY ?
{1}Create an account using the app
(2)Download the Remitly app in the iOS App Store or Google Play Store
{3}Select where you’re Sending from and where you’re Sending to
(4)Tap Next
(5)Enter your email address and password
(6)Tap Join Remitly
Or you can Create an account on Remitly.com
(1)Click Join Now
(2)Select the country you’re sending to
(3)Enter your email address and password
(4)Click Join now
IS REMITLY SERVICE SAFE ?
With Remitly, you will not have any such problems and issues with the security of your money because the company provides extensive security measures and fraud prevention. For instance, Remitly requires that its users submit identification documentation and a security protection of 256-bit SSL encryption with a 2048-bit signature. On top of that, they are registered with the Money Services Business with the U.S. Department of Treasury. To make yourself feel even more assurance and feel safe , they are also licensed as a money transmitter and in Canada are allowed to operate in all provinces except for Quebec. In the UK and the US, they are authorized to operate in the entirety of both countries. In case you are not satisfied with their services Remitly will refund you their fees in full so you have a 100% satisfaction guaranteed.
All these information are the best of my knowledge if you require further support and more information or want to join to send money transfer through remitly. Please do click on the link.
