$32B+ — Annual remittance inflows to India (2024)
| Option | Transfer Fee | FX Markup (est.) | Total Cost | Speed | Delivery Method |
|---|---|---|---|---|---|
| Remitly Express | $3.99 | ~1.0–1.5% | $9–11 | Minutes–4 hrs | Bank deposit / UPI |
| Remitly Economy | $0 | ~0.5–1.0% | $2.50–5 | 3–5 business days | Bank deposit |
| Wise (reference) | $4–6 | ~0% | $4–6 | 1–2 days | Bank deposit |
| USDC on Stellar (reference) | $1–3 | ~0.2% | $2–4 | < 1 hour | CoinDCX → bank |
~$60–90 — Annual extra cost of choosing Express over Economy every month ($500 transfers)
| Provider | Flat Fee | FX Markup (est.) | Total Cost | Speed |
|---|---|---|---|---|
| Remitly Express | $3.99 | 1.0–1.5% | $9–11 | Minutes–4 hrs |
| Remitly Economy | $0 | 0.5–1.0% | $2.50–5 | 3–5 days |
| Wise | $4–6 | 0% (mid-market) | $4–6 | 1–2 days |
| Western Union | $5–15 | 1–3% | $10–30 | Minutes–3 days |
| Bank Wire (SWIFT) | $25–45 | 2–4% | $35–65 | 2–5 days |
| USDC on Stellar | $1–3 | ~0.2% | $2–4 | < 1 hour |
For USD-to-INR transfers, Remitly Express charges a flat fee of $3.99 plus an FX markup of roughly 1.0–1.5%. Remitly Economy has no flat fee but still applies an FX markup of about 0.5–1.0%. On a $500 transfer, Express costs roughly $9–11 total and Economy costs $2.50–5. Always compare the offered rate against the mid-market rate to calculate your true cost.
Economy is better for cost-conscious senders — it typically costs $4–7 less than Express on a $500 transfer. Choose Express only if your recipient needs the money the same day. For regular monthly remittances, Economy saves roughly $60–90 per year compared to always using Express.
No. Remitly applies a markup above the mid-market (interbank) rate for both Express and Economy. The markup varies but is typically 0.5–1.5%. Wise is the main alternative that passes through the mid-market rate with no FX markup, charging only a transparent flat fee.
For $500, the cheapest options are typically USDC on Stellar (total cost $2–4, under 1 hour) or Remitly Economy (total cost $2.50–5, 3–5 days). Wise is competitive at $4–6 with 1–2 day delivery. Use the RemitRoutes comparison tool to see live rates for your exact amount before committing.
You can cancel a Remitly transfer before the funds are sent to the recipient's bank. Once the transfer is in transit, cancellation is not possible. Remitly locks the exchange rate for 72 hours from initiation — if you don't complete payment in that window, you'll need to restart at the current rate.
Compare live rates across 370+ corridors on RemitRoutes · methodology.