Currencies Direct vs Remitly Comparison

Currencies Direct, established in 1996, has carved a niche in offering fee-free, large-scale transfers and business solutions, boasting an extensive global reach with services in over 200 countries.

On the other hand, Remitly, founded in 2011, focuses on facilitating personal remittances, offering a variety of delivery options including bank-to-bank transfers, cash pickups, and door-to-door delivery in select regions. With its user-friendly platform, Remitly caters to the needs of individuals looking to send money quickly and efficiently.

Both companies have garnered positive customer feedback for their reliable and convenient services, making them strong contenders for anyone looking to transfer money internationally.

Customers

Company NameCurrencies DirectRemitly
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Currencies DirectRemitly Review
Customer rating4.9/5 (TrustPilot)4.1/5 (TrustPilot)
# Rating Customers9,500+43,600+
Top 3 Pros
  • No fixed transfer fees
  • Extensive reach and availability
  • Professional and courteous staff
  • Bank-to-bank, cash pickup, and door-to-door delivery
  • Money-back guarantee
  • Strong set of cultural values
Top 3 Cons
  • Not suitable for remittances to Asia and South America
  • Online platform less intuitive than competitors
  • Online app functional but not a work of art
  • Extensive KYC required to increase limits
  • Not suitable for large transfers
  • No dedicated dealers

Availability

Company NameCurrencies DirectRemitly
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Office locations22 offices worldwide10 offices worldwide
# Currencies60+75

Security

Company NameCurrencies DirectRemitly
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Regulated byFCA, FinCEN, SARB, FINTRAC, Bank of SpainDepartment of the Treasury (USA), FINTRAC (Canada), FCA (UK), ASIC (Australia), Central Bank of Ireland (EU)
HTTPS SecuredYesYes
Segregated Customer AccountsYesYes
2FANoNo

Limits and Fees

Company NameCurrencies DirectRemitly
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Min transferΒ£100$1
Max transferNo upper limitVaries by country and method, up to Β£150,000
Fixed feesNo$0.00 – $50 depending on method and countries
See rates before you log in?YesYes

Customer Support

Company NameCurrencies DirectRemitly
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Dedicated DealerYesNo
EmailYesYes
PhoneYesYes
Live ChatNoYes
24/7NoYes

Ways to Transfer

Company NameCurrencies DirectRemitly
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Online SystemYesYes
Online AppYesYes
Multi-Currency AccountYesNo
Cash PickupNoYes
Card Top-UpNoYes

Additional Functions

Company NameCurrencies DirectRemitly
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HedgingYesNo
Mass paymentsYesNo
Cash chequesNoNo
Multi-Currency Debit CardYesNo

Conclusion

On MoneyTransferComparison, Currencies Direct has received a higher editorial score. The advantages of Currencies Direct over Remitly are these:

  • No fixed transfer fees, making it more cost-effective for larger transfers.
  • Extensive reach and availability, with services in over 200 countries and access to 60+ currencies.
  • Professional and courteous staff, providing personalized service including dedicated dealers for complex transfer needs.

Currencies Direct is better for large money transfers and business-related transactions due to its no upper limit on transfers, dedicated dealer support, and comprehensive business solutions including hedging and mass payments.

Remitly is better for smaller, personal remittances and quick cash pickups due to its lower minimum transfer requirement, instant transfer options, and extensive network for cash pickup and door-to-door delivery in many countries.