Remitly Expands Into the UK
Remitly is known as one of the largest independent digital remittance companies in the U.S., and it recently announced its expansion into the UK, its third send country after the U.S. and Canada.
Remitly offers UK residents a modern and convenient remittance experience that allows them to send money internationally quickly and at less cost through its mobile app and website.
“Europe is the second largest remittance market in the world. Launching in the UK, where over £19 billion ($24 billion USD) in remittances are sent to other countries, is an important next step as we transform the global remittance business. We’re thrilled to offer our industry-leading service to the UK, a service that already enables customers in the US and Canada to send over $2 billion a year,” said Remitly CEO Matt Oppenheimer.
Remitly gives people in the UK two options, one being Express: the company’s Express service delivers money directly to a recipient abroad within minutes through its direct integrations with banking and cash pickup partners around the world. Accessing credit or debit, customers can send money for a flat fee of 3 pounds or less. The second, Economy: Leveraging the UK’s Faster Payments Scheme, Remitly’s Economy service enables customers to send money abroad at less cost depending on the recipient country. With this option, customers get their transfers to recipients quickly, safely, and with competitive foreign exchange rates as the scheme enables nearly-instant payments between participating banks.