+44 7393 450837
Follow on

Is Remitly Safe?

“Is Remitly safe to transfer money?” You might ask. In this article, we’ll explore the reasons why Remitly is legit as well as the reasons that say otherwise. If you want to know more about the service, this Remitly review might help.

Remitly, formerly known as Beamit, is a US-based money transfer service firm established in 2011. How safe Remitly is can differ depending on the experiences and safety measures of different users.

If you are looking to invest as an expat or high-net-worth individual, which is what I specialize in, you can email me (advice@adamfayed.com) or WhatsApp (+44-7393-450-837).

You should read over the online remittance platform’s security protocols and use caution when utilizing the service. Note that financial transactions executed online always carry risk.

Is Remitly Safe or Not?

Is Remitly Safe

There are differing views on how safe it is to send money with Remitly. Although a lot of people are grateful for its services and leave positive reviews, some users have expressed concerns.

Concerns with unapproved transactions and sudden account suspensions without adequate justification have been expressed by a few users.

Security concerns are frequently brought up in negative reviews, such as Remitly’s extra verification procedures that could cause payments to lag or its inability to accept transfers that don’t comply with its terms and conditions.

Remitly prioritizes account security despite these worries, and it has put in place a number of safeguards to protect customer data and transactions.

These precautions include using distinct passwords, verification processes, and Secure Socket Layer with 256-bit encryption for secure server connections.

Even though these safety measures could annoy customers, they are necessary to preserve account security, which is a standard procedure at conventional banks.

To guarantee compliance and security, Remitly is registered with regulatory organizations like the Financial Crimes Enforcement Network of the US Treasury Department.

Customers utilizing Remitly, or any money transfer service for that matter, are encouraged to:

  • be watchful when disclosing personal information
  • double-check transactions
  • be on the lookout for potential fraud like phishing schemes

Is Remitly legit?

Aside from those who ask is Remitly safe, there are also those concerned with the service’s legitimacy.

Remitly has a 13-year history as a money transfer provider that operates internationally and caters to a steadily growing clientele. The firm is governed in every country and complies with strict regulations to protect customer funds and personal data.

The remittance service employs a number of security procedures to guarantee the security of its clients’ money:

  1. Strict verification procedures are carried out for any unusual activity, big transactions, and account opening.
  2. To spot and handle questionable activity, both automatic and manual processes are used.
  3. All customer accounts have password protection in place, and customer data is safely kept on secured servers.

Remitly also uses sending restrictions, which set a cap on the maximum amount that may be transferred in a given period. Customers that provide the firm with additional verification documents might increase their sending limitations.

With the option for complete verification at a later time, customers with smaller transactions can quickly commence. Meanwhile, those who need to transact in larger sums must comply with the needed documents first, thwarting potential criminal activity by preventing unauthorized access to accounts.

Remitly provides a safe way to transmit large sums of money when allowed, even though its payment limits differ depending on the recipient and account tier.

Remitly vs bank transfer

Even though Remitly isn’t a bank, it’s still a safe choice for sending money abroad. The platform provides an equivalent level of security for international transfers, while banks are often subject to stricter rules and offer a wider choice of services.

Remitly actually offers a degree of security comparable to established banks for transfer services of a similar nature, and frequently at a lower cost and with more efficiency.

Remitly Scams

Remitly Scams

Criminals skilled at taking advantage of weaknesses will always come up with new ways to trick people out of their money. Like every bank or financial website, Remitly might be prone to fraud too.

The main way to protect yourself when transferring money is to become knowledgeable about typical frauds and con games, identify and stay away from spoof and phishing emails, and don’t send money to somebody you don’t know.

Due to the quick nature of cash transactions and the fact that funds are frequently lost once they are collected, platforms that assist in cash collection are especially vulnerable to abuse by con artists and hackers.

It’s crucial to follow Remitly’s suggested restrictions, which include limiting transactions to dependable friends and family. Moreover, you should put your financial stability first and never give in to pressure when uncertain about a payment.

Who can Use Remitly?

Regular senders to friends and family who live overseas will find Remitly’s free money transfer app ideal. Money can be sent to over 170 countries using a variety of methods, such as bank accounts, credit cards, and debit cards, by users from 30 countries, including the United States. Funds can be delivered to recipients’ homes or mobile devices thru banks and cash collection sites too.

Remitly was created to help immigrants, but because of its variable costs and exchange rates, it might not be the best choice for people sending money to different countries. Some might prefer the more straightforward options offered by major banks for wire transfers.

Pained by financial indecision? Want to invest with Adam?

smile beige jacket 4 1024x604 1

Adam is an internationally recognised author on financial matters, with over 760.2 million answer views on Quora.com, a widely sold book on Amazon, and a contributor on Forbes.

This website is not designed for American resident readers, or for people from any country where buying investments or distributing such information is illegal. This website is not a solicitation to invest, nor tax, legal, financial or investment advice. We only deal with investors who are expats or high-net-worth/self-certified  individuals, on a non-solicitation basis. Not for the retail market.



Gain free access to Adam’s two expat books.

Gain free access to Adam’s two expat books.

Get more strategies every week on how to be more productive with your finances.