How to use Remitly to affordably withdraw to local currency

We understand your feedback that the fee for international wire transfers is high. The overall cost covers the fees charged by the sending, intermediary and receiving bank to securely move money around the world in different currencies. We only earn a small part of the overall transfer fee to cover our operating costs. Here's how you can use Remitly to affordably withdraw to local currency.

Difference between Remitly and GrabrFi

With GrabrFi, you can get paid, spend it with a US debit card, save your money under US jurisdiction, withdraw a portion of it back to your country when needed.

Remity is an international money transfer service. You can use it to affordably send money from GrabrFi to yourself in local currency or to friends and family.

GrabrFi only supports Remitly to withdraw part of earnings to local currency for personal use. GrabrFi does not support the use case as a cashier.

Bad usage of this platform can lead in suspending your account.

Remitly fees

Currency exchange rate

Remitly adds a margin of between 0.5% to 3.0% above the mid-market exchange rate depending on the currency pair.

Transfer fees

It depends on how much money you send, the payment method you use and the delivery speed you select (Express is instant and Economy takes 3-5 business days).

1. Open an account on Remitly if you don’t already have one

  • Go to Remitly or download their iOS or Android app.

  • Click on 'Get Started' or 'Sign Up'.

  • Enter your full name, email address, and create a password.

  • Verify your email address by clicking on the link sent to your inbox.

  • Complete your profile by entering your address, phone number, and date of birth.

2. Set up your transfer

Now that you have an account, you can start sending money. Follow these steps to set up your transfer:

  • On Remitly, select the country you'd like to send money to (you can do this at the bottom of the website).

  • Enter the amount you’d like to transfer in US dollars. Here are Remity’s limits.

  • Choose the receiving currency (local currency or USD). If you or your recipient’s account supports US dollars, you can choose US dollars to avoid currency conversion (you can pay for this transfer with money from your GrabrFi bank account.

  • Choose a delivery option.

    • Express: pay with your GrabrFi debit card. The money is transferred instantly.

    • Economy: pay with money from your GrabrFI account. This takes 3-5 business days.

3. Enter you or your recipient's information

  • Enter the details of your other account or your recipient’s account. This includes:

    • Full legal name

    • Address

    • Phone number

    • Bank account information (if sending directly to a bank account)

  • Fill out your sender information.

  • Double check to make sure all the details are correct to avoid any delays.

4. Select a payment method

Choose how you'd like to pay for your transfer, it can be with card or ACH bank transfer

Express delivery speed: instant, higher fees

  • GrabrFi debit card

  • Apple Pay or Google Pay

Economy delivery speed: 3-5 business days, lower or no fees

  • GrabrFi account (ACH transfer)

Note that fees and processing times may vary depending on the payment method you choose.

5. Review and confirm your transfer

Before submitting your transfer, carefully review all the details, including the transfer amount, recipient information, delivery method, and payment method. 

  • If everything is correct, click 'Confirm' or 'Send Money' to initiate the transfer.

  • Remitly will send you a confirmation email with the details of your transaction and a tracking number.

6. Track your transfer

You can track the progress of your transfer by checking its transaction history or by using the tracking number provided in the confirmation email. You (and your recipient) will also receive notifications when the transfer is complete.

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