My Definitive Remitbee vs. Remitly Comparison Guide

The money transfer industry has seen significant growth since 2022, driven by increasing globalization and the rise of digital payment platforms.

According to the World Bank, remittances to low- and middle-income countries reached $794 billion in 2022, showing a 5% growth from 2021.

Apps like Remitbee and Remitly have streamlined cross-border transactions, offering faster, cheaper, and more accessible ways to send money worldwide.

The main difference is that Remitbee focuses on Canadian users and offers fee-free bank transfers, while Remitly has a broader global reach and provides an express option for faster transfers, albeit at higher fees.

Remitbee vs. Remitly: Key Features Compared

Personal note:

I switched to Remitly, even though Remitbee is fantastic for its free transfers to many countries. Remitbee’s fee-free bank transfers are a huge advantage for Canadian users, and it’s a reliable choice. However, I needed faster transfer options for my business, and Remitly’s express delivery won me over. The convenience of knowing the money arrives quickly, especially in urgent situations, was a game-changer for me. While both are great, Remitly’s speed fits my needs better.

What is Remitbee and How Does it Work?

Remitbee is a Canadian-based online remittance service designed to make sending money internationally easy and affordable. Known for its fee-free transfers within Canada, Remitbee has become a preferred choice for users seeking cost-efficient ways to send money.

Remitbee allows you to transfer funds directly to bank accounts or mobile wallets in select countries. Transfers can be initiated through their website or app, making it easy to send money from the comfort of your home.

However, their geographic reach is somewhat limited, as they mainly focus on countries with large Canadian immigrant populations.

Pros and Cons of Remitbee

Pros:

• Free transfers within Canada
• Competitive exchange rates
• Fast processing times for most transfers
• User-friendly platform
• Extra features like bill payments and cryptocurrency buying

Cons:

• Limited coverage outside of Canada
• Only supports a few major remittance corridors
• Not as widely available internationally

What is Remitly and How Does it Work?

Remitly is an international money transfer service that provides fast and affordable remittance solutions to over 100 countries. Users can choose between the economy or express service, allowing flexibility in speed and costs.

Remitly offers multiple options to send money, including bank deposits, mobile wallet transfers, and cash pick-ups.

With its broad global reach, Remitly is ideal for users needing to send money to various parts of the world. However, fees can be higher depending on how quickly you want the transfer to go through.

Pros and Cons of Remitly

Pros:

• Available in over 100 countries
• Multiple payment options (bank, mobile, cash)
• Express transfers available
• Intuitive mobile app and website
• Offers currency conversion tools

Cons:

• Fees can add up with express services
• Exchange rates may not always be the best
• More costly for slower services in some regions

A Detailed Comparison of Remitbee vs Remitly

1. Transfer Fees

When it comes to transfer fees, Remitbee offers a major advantage for Canadian users by providing fee-free transfers for bank deposits within Canada. Remitly, however, has a tiered fee structure depending on the speed and country. For economy transfers, the fees are lower but the process takes longer, while express transfers come with higher fees but faster delivery. Remitly’s fees can range from a small percentage to a flat rate depending on the country and transfer method. Although Remitly offers flexibility, those sending frequent transfers from Canada will find Remitbee’s fee-free option highly appealing.

Verdict: Remitbee wins for fee-free transfers, especially in Canada.

2. Transfer Speed

Remitly excels in speed, offering two options: express and economy. The express service is especially useful for time-sensitive transfers, ensuring money arrives within minutes. The economy service is slower but cheaper, ideal for users who can afford to wait. Remitbee also provides fast transfers, especially for certain corridors like India and the Philippines. However, it lacks the specific express option that Remitly offers, meaning its speed advantage is not as flexible. For users needing ultra-fast transfers, Remitly’s express service is a clear winner.

Verdict: Remitly wins for offering fast express transfers.

3. Supported Countries

Remitbee’s coverage is more limited, focusing heavily on a few remittance corridors such as India, Sri Lanka, and the Philippines, primarily targeting Canadian customers. On the other hand, Remitly operates in over 100 countries globally, making it a versatile choice for users needing to send money across various regions. If you need to transfer funds to a wide array of destinations, Remitly’s global reach gives it a significant advantage over Remitbee, which lacks such broad coverage.

Verdict: Remitly wins for its vast international coverage.

4. Exchange Rates

Both Remitbee and Remitly offer competitive exchange rates, but Remitbee tends to provide slightly better rates for Canadian users. This is especially beneficial for users transferring large sums of money since even small differences in exchange rates can result in significant savings. Remitly’s rates, however, vary based on the country and transfer speed. For slower transfers, the rates may be more favorable, but for express transfers, the rate may not be as competitive as Remitbee’s. If maximizing the recipient’s funds is a priority, Remitbee is the better option.

Verdict: Remitbee wins for better exchange rates, especially for Canadians.

5. User Experience

Both Remitbee and Remitly offer intuitive, user-friendly platforms. Remitbee’s interface is simple, making it easy for beginners to navigate, especially those sending frequent transfers from Canada. Remitly’s app and website are equally easy to use but offer more advanced options, such as tracking transfers and choosing between speed options. Both platforms are well-designed for the average user, but Remitly’s additional features like tracking and flexible transfer speeds make it slightly more feature-rich without compromising usability.

Verdict: Tie – Both offer strong user experiences, with Remitly having slight advantages in additional features.

6. Customer Support

Remitly offers 24/7 global support, including live chat, email, and phone support, which is crucial for users transferring to multiple countries and needing immediate assistance. Remitbee, while offering strong customer support, focuses more on Canadian users and has limited global reach in its support structure. The availability of round-the-clock customer service for users in diverse time zones makes Remitly a more reliable option for international transfers.

Verdict: Remitly wins for more accessible and global customer support.

7. Additional Features

Remitbee offers a range of additional services that appeal to Canadian users, such as bill payments and the option to buy cryptocurrency. These features make Remitbee a versatile financial tool, not just a remittance service. Remitly, on the other hand, focuses more on providing multiple payment methods, including mobile wallets and cash pick-ups, which are essential for users sending money to rural or underserved areas globally. While both platforms have unique extras, Remitly’s focus on payment options and accessibility gives it a slight edge for users sending money to regions with limited banking infrastructure.

Verdict: Remitly wins for versatile payment methods and accessibility options.

Use Cases for Remitbee

1. Canadian Users Sending to Family Abroad
   A Canadian customer might use Remitbee to send money to family in India with no transfer fees. With competitive exchange rates, more of the sender’s money reaches the recipient.
2. Bill Payments and Investments
   Remitbee also allows Canadians to pay bills internationally or buy cryptocurrency directly through their platform, making it a multi-purpose financial tool.

Use Cases for Remitly

1. Sending Money to Remote Locations
   A user in the U.S. may use Remitly to send money to a rural village in the Philippines, where cash pick-up is essential. Remitly’s broad reach and multiple delivery methods make it ideal.
2. Urgent Remittance Needs
   For someone in the U.K. needing to send money to Mexico in minutes, Remitly’s express service ensures the funds arrive quickly, offering peace of mind in emergency situations.

Remitbee vs. Remitly Pricing Breakdown

Here’s a table summarizing the fees/pricing for Remitbee and Remitly:

What to Consider When Choosing Between Remitbee and Remitly

1. Transfer Fees
   If you’re based in Canada and want to save on fees, Remitbee offers an unbeatable fee-free service. However, Remitly’s economy option might still be attractive if you need to send money internationally to regions where Remitbee doesn’t operate.
2. Speed
   Remitly shines with its express service, which can deliver money in minutes. Remitbee, while fast, doesn’t offer the same speed options, making Remitly the better choice for urgent transfers.
3. Supported Countries
   Remitly supports over 100 countries, making it the clear winner if you need global coverage. Remitbee focuses on key remittance corridors like India, Sri Lanka, and the Philippines, so it’s best for specific regions.
4. Exchange Rates
   If you’re looking to maximize the amount of money your recipient gets, Remitbee generally has better exchange rates, especially for Canadian users.
5. Customer Support
   Remitly’s global support is a huge advantage for users sending money to various countries. Remitbee’s support is excellent for Canadian clients but may not be as responsive for international users.

FAQs

Let’s answer 5 common questions about Remitbee and Remitly:

1. Which tool is cheaper for international money transfers? Remitbee offers fee-free transfers for Canadian users sending money through bank deposits, making it a cost-effective choice. Remitly, while having fees based on speed and country, can be more expensive, especially with its express service.
2. Which tool offers faster transfers? Remitly is known for its express option, which delivers transfers within minutes. Remitbee also provides fast transfers, but lacks a specific “express” feature. For users needing instant transfers, Remitly is faster.
3. Can I send money globally with both tools? Remitly supports over 100 countries, giving it a wider global reach. Remitbee focuses primarily on Canadian customers, with limited countries available.
4. Which tool offers better exchange rates? Remitbee generally offers better exchange rates for Canadian users, especially for larger sums. Remitly’s rates can vary depending on the country and transfer speed, making it less consistent.
5. Which tool has better customer support? Remitly offers 24/7 support globally, while Remitbee has good support but is more focused on Canadian users. Remitly wins for customer service, especially for international transfers.

Is Remitbee Better than Remitly? Takeaway

Remitbee is perfect for fee-free transfers, especially for Canadian users focused on sending money to specific regions like India or the Philippines.

On the other hand, Remitly shines with its global reach, express transfer options, and customer support. If you need fast transfers across a wide array of countries, Remitly is the better choice.

If you prioritize savings on fees and are sending money to Canada-centric remittance corridors, Remitbee is the clear winner.