Remitly®¹ offers fast, safe and convenient ways to send money in 100+ currencies. Depending on where you’re sending to you could pick to have your transfer deposited to a bank or mobile money account, or collected in cash.
But what about higher value transfers? What’s the Remitly limit for sending payments, and how do you complete the Remitly verification process to send more?
Read on for all you need to know about Remitly sending limits - plus, we’ll introduce Wise as a great alternative for sending payments around the world, large and small, with low fees and the mid-market rate².
What are Remitly's international transfer limits?
Remitly is intended for personal payments to people you know. It’s not for business transfers, and isn’t usually meant for very high value payments.
To keep customers safe, and in line with this aim, there are Remitly transaction caps, and sending limits based on transaction frequency or value over 24 hours, a month and a 6 month period.
The Remitly limits that apply to your account will depend on your account tier. When you first open an account you’ll be on tier 1. To open your account at tier 1 you’ll need:
- Your full name
- Your residential address
- Your date of birth
- The last 4 digits of your SSN
Once you have a tier 1 account, you can upgrade by following an application process which we’ll look at in a moment. Here are the Remitly international transfer limits by tier³:
| Sending Limit | Tier 1 | Tier 2 | Tier 3 |
|---|---|---|---|
| 24 hours | $2,999 | $6,000 | $10,000 |
| 30 days | $10,000 | $20,000 | $30,000 |
| 180 days | $18,000 | $36,000 | $60,000 |
Are there different limits for different types of transactions on Remitly?
Remitly’s transfer limits primarily apply to transaction value over 24 hours, 30 days and 180 days. However depending on how you transact you might find that other limits are applied, including by Remitly’s payment partners. If this applies you’ll be notified in the Remitly app.
Make low cost international transfers with Wise
Another smart option if you’re sending money overseas. Meet Wise.
Register a Wise account online or in the Wise app, and send digital payments from your bank account to 70+ countries, with the mid-market exchange rate and low, transparent fees.
Wise always shows you the amount you’re paying and how much your recipient will get — and you can even compare against other providers on the Wise app or desktop site. If another service is cheaper for your particular payment, you’ll be shown — so you can’t lose.
Send money abroad with Wise
| See how Wise compares with international bank transfers in our full guide |
|---|
Please see Terms of Use for your region or visit Wise for the most up to date pricing and fee information
Can the limits on Remitly be increased?
Yes. You can increase from Tier 1 status to Tier 2 or 3 to mean your limits are correspondingly increased.
For Tier 2 and 3 you’ll need to have already completed the Tier 1 verification, plus you’ll be prompted to provide⁴:
|
|---|
The additional documents you’re asked for might depend on the details of your account and your payment.
For example if you’re prompted to prove the source of your funds, and you’re making a payment relating to a property sale, you could be asked to provide a proof of the sale to demonstrate that the money came from a legal source.
How to increase your Remitly limits: step by step
You can request a sending limit increase in the Remitly app or by logging into your account online:
|
|---|
You should receive an email about your request within 48 hours, to confirm the change or to ask for more documents or information.
How do the limits imposed by Remitly affect the speed of transactions?
The speed of your transaction shouldn't be impacted by your status as long as you’re making a payment within your tier allowance.
If you try to make a payment which exceeds your limits it may be delayed, returned, or not processed at all. You’ll need to upgrade your account tier by providing more information or documents for verification before you can proceed.
Does the frequency of transactions impact the limits on Remitly?
Frequency of transaction doesn’t matter per se but the cumulative value of the payments you make over a 24 hour period, 30 day period or a 180 day period does.
If you make lots of Remitly transfers you could find that they add up quickly, until you hit your limit, even though each individual payment was fairly small.
Remitly’s limits are in place to protect customers and make sure that the accounts are used as intended. However, the limits might mean this isn’t the best service for your particular payment.
If you’re sending higher volume payments - or if you just want a different option to compare - check out Wise.
Wise is a non-bank alternative provider which offers low cost payments which use mid-market rates, and which has high transfer caps - please note additional verification requirements apply for large transfers.
Sources:
- Remitly
- Please see Terms of Use for your region or visit Wise for the most up to date pricing and fee information
- Remitly limits
- Remitly process to increase limits
Sources checked on 11.24.2023
*Please see terms of use and product availability for your region or visit Wise fees and pricing for the most up to date pricing and fee information. This publication is provided for general information purposes and does not constitute legal, tax or other professional advice from Wise Payments Limited or its subsidiaries and its affiliates, and it is not intended as a substitute for obtaining advice from a financial advisor or any other professional. We make no representations, warranties or guarantees, whether expressed or implied, that the content in the publication is accurate, complete or up to date.
