Is Remitly Safe to Use in 2026?
Complete security analysis: Regulation, encryption, and user reviews
✅ Quick Answer
Yes, Remitly is safe. It's a legitimate, regulated money transfer service used by millions worldwide.
Regulation: Licensed in 50+ countries, including full U.S. state money transmitter licenses
Security: Bank-level encryption, fraud monitoring, and identity verification
Track Record: Founded 2011, NASDAQ-listed (RELY), $6B+ transferred annually
User Rating: 4.6/5 stars across app stores with millions of satisfied customers
🏛️ Regulation & Licensing
Legal Compliance & Oversight
🇺🇸 United States
- • Money Service Business (MSB) registration with FinCEN
- • State licenses in all 50 states where required
- • Anti-Money Laundering (AML) compliance
- • Bank Secrecy Act reporting requirements
- • OFAC sanctions screening for all transactions
🌍 International
- • 50+ country licenses for global operations
- • FCA authorized in the United Kingdom
- • Local compliance in destination countries
- • PCI DSS Level 1 payment card certification
- • ISO 27001 information security management
📋 What This Means for You
- • Your money is protected by strict financial regulations
- • Regular audits ensure compliance with safety standards
- • Consumer protection laws apply to your transfers
- • Transparent dispute resolution processes are required
🔒 Security Measures
🛡️ Data Protection
- ✓256-bit SSL Encryption
Same level as online banking - ✓PCI DSS Level 1 Compliance
Highest payment security standard - ✓Data Encryption at Rest
Your information is encrypted when stored
🔐 Account Security
- ✓Multi-Factor Authentication
SMS and email verification codes - ✓Biometric Login
Fingerprint and Face ID support - ✓Device Verification
New device login notifications
🎯 Fraud Prevention
AI Fraud Detection
Machine learning algorithms monitor transactions for suspicious patterns
Identity Verification
Government ID verification and document authentication
Real-Time Monitoring
24/7 transaction monitoring and instant fraud alerts
🏢 Company Background & Track Record
📈 Company Facts
- Founded: 2011 in Seattle, Washington
- Public Company: NASDAQ: RELY (since 2021)
- Employees: 1,000+ globally
- Annual Volume: $6+ billion transferred
- Customers: 5+ million active users
- Countries: 3,500+ destinations worldwide
🏆 Recognition & Awards
- • Google Play Awards - Finance category winner
- • App Store Awards - Top financial app
- • Deloitte Fast 500 - Fastest growing tech companies
- • Inc. 5000 - Fastest growing private companies
- • Better Business Bureau - A+ rating
💼 Funding & Investors
Remitly has raised over $400 million from top-tier investors including:
Lead Series C
Strategic investor
Early investor
Fintech specialist
⭐ Customer Reviews & Experience
📱 App Store Ratings
💬 Common Praise
- ✓"Fast and reliable transfers"
- ✓"Easy-to-use mobile app"
- ✓"Good customer support"
- ✓"Competitive exchange rates"
- ✓"Multiple delivery options"
- ✓"Transparent pricing"
⚠️ Common Complaints
Most frequent issues reported:
- • Occasional delays for first-time users (identity verification)
- • Customer service response times during peak periods
- • Transaction holds for large amounts (regulatory requirement)
- • Limited cash pickup locations in some countries
Note: Most issues are related to compliance requirements rather than security concerns.
🛡️ How to Use Remitly Safely
✅ Do These Things
- ✓Use strong passwords
Enable two-factor authentication - ✓Verify recipient details carefully
Double-check names and account numbers - ✓Keep transaction receipts
Save confirmation numbers and emails - ✓Use the official app/website
Download from official app stores only
❌ Avoid These Mistakes
- ✗Don't send to unknown recipients
Only send to people you know and trust - ✗Don't share login credentials
Never give your password to anyone - ✗Don't use public WiFi
Use secure networks for transactions - ✗Don't ignore verification requests
Comply with identity verification promptly
⚖️ How Safe is Remitly vs Competitors?
| Safety Factor | Remitly | Wise | Western Union | Sendwave |
|---|---|---|---|---|
| Public Company | ✅ NASDAQ | ✅ LSE | ✅ NYSE | ❌ Private |
| U.S. Licensed | ✅ All states | ✅ All states | ✅ All states | ✅ All states |
| Bank-Level Encryption | ✅ 256-bit SSL | ✅ 256-bit SSL | ✅ 256-bit SSL | ✅ 256-bit SSL |
| Fraud Detection | ✅ AI-powered | ✅ Advanced | ✅ Traditional | ✅ Standard |
| App Store Rating | 4.6-4.8/5 | 4.7/5 | 4.3/5 | 4.8/5 |
| Years in Business | 13+ years | 13+ years | 170+ years | 8+ years |
❓ Frequently Asked Questions
Is Remitly a legitimate company?
Yes, Remitly is a publicly-traded company on NASDAQ (ticker: RELY) founded in 2011. It's fully licensed as a money transmitter in all required U.S. states and regulated in 50+ countries worldwide.
What happens if Remitly loses my money?
Remitly is required to maintain customer funds in segregated accounts separate from operating funds. If a transfer fails, you're entitled to a full refund. As a regulated money transmitter, consumer protection laws apply.
How does Remitly protect my personal information?
Remitly uses bank-level 256-bit SSL encryption, PCI DSS Level 1 compliance, and ISO 27001 information security standards. Your data is encrypted both in transit and at rest.
Can I trust Remitly with large transfers?
Yes, Remitly processes billions in transfers annually. For large amounts, additional identity verification may be required for compliance, but your funds are protected by regulation and insurance.
What should I do if there's a problem with my transfer?
Contact Remitly customer support immediately through the app, website, or phone. Keep your transaction number handy. As a regulated provider, they're required to investigate and resolve issues promptly.
Is Remitly safer than traditional banks for international transfers?
Remitly uses the same security standards as banks but often provides better exchange rates and faster service. Both are regulated, but Remitly specializes in international transfers while banks treat them as a side service.
🏆 Final Safety Verdict
Highly Regulated
Licensed in 50+ countries with full compliance
Bank-Level Security
Advanced encryption and fraud protection
Proven Track Record
13+ years, millions of users, excellent ratings
Remitly is safe for international money transfers. Always compare rates and follow basic security practices for the best experience.
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