Remitly and XE both move money abroad, but they come at it from different angles. Remitly is a dedicated remittance provider built for sending to family, with a fee plus a markup on the rate. XE is famous for its exchange-rate data and advertises no transfer fee, but makes its money on a markup on the rate.
On a $1,000 dollar-to-euro transfer, Remitly costs about $22.91, while XE costs about $7.50. XE is usually the cheaper of the two for a bank deposit. The tables below use the current mid-market reference; Wise may use an account-holder API estimate, while other providers use stored published fee and markup models rather than live quotes.
- XE is usually cheaper for a bank deposit. It has no fee and a markup of about 0.75%, which beats Remitly's fee-plus-markup.
- Remitly charges a fee plus a markup. Its cost is a fee of about $3.99 plus a markup of about 1.9% on the rate.
- Remitly wins on cash pickup. If your recipient needs cash, Remitly supports it across many countries, which XE does not.
- The payout method matters. For a bank deposit, XE usually wins; for cash pickup, Remitly is often the better fit.
How Remitly charges
Remitly is a dedicated remittance provider built for sending to family abroad. It charges a fee of about $3.99 plus a markup of about 1.9% on the exchange rate. There is no monthly limit, and it supports cash pickup, bank deposit, and mobile money across many countries.
The appeal of Remitly is its reach: it supports cash pickup and mobile money across many countries, which is a lifeline where bank access is thin. The trade-off is the fee-plus-markup, which works out higher than XE's markup for a bank deposit.
How XE charges
XE is best known as a source of exchange-rate data, but it also moves money. Its pitch is simple: no transfer fee on a standard bank-deposit send. The catch is that the cost lives in the exchange rate. XE adds a markup of about 0.75% on major pairs, and more on some exotic ones.
There is no fee to see, which is the appeal, but the markup is the price you pay. Because it is hidden in the rate, it is easy to overlook, which is exactly why we add the fee and the markup together into a single all-in cost.
Head to head, by amount
The ranking depends on the payout method and the amount. Here is the same dollar-to-euro transfer at three sizes.
$1,000: XE's markup beats Remitly's fee-plus-markup
XE's markup of about 0.75% works out below Remitly's fee-plus-markup. For a bank deposit, XE is the cheaper here.
$5,000
At $5,000, both costs scale with the amount, but XE's 0.75% markup stays below Remitly's fee-plus-markup. The gap holds.
$25,000
On a large send, both costs scale with the amount, but XE's 0.75% stays below Remitly's fee-plus-markup. The gap is now worth real money.
Who should pick what
Pick XE if you send to a bank account and want the lowest all-in cost. Its 0.75% markup works out below Remitly's fee-plus-markup for a bank deposit, and it has no fee.
Pick Remitly if your recipient needs cash pickup or mobile money, or you send to a country where bank access is thin. Remitly is built for remittances and supports cash and mobile money across many countries.
Pick a different specialist if neither fits. Wise charges a small fee at the mid-market rate with no limit or weekend surcharge, and WorldRemit is another strong remittance option. See Wise vs XE and Remitly vs WorldRemit.
Frequently asked questions
Is Remitly cheaper than XE?
For a bank deposit, usually no. XE has no fee and a markup of about 0.75%, which works out below Remitly's fee-plus-markup. But if your recipient needs cash pickup or mobile money, Remitly is often the better fit.
Does XE really charge no fee?
On a standard bank-deposit transfer, XE usually shows no separate fee. But it makes its money on the exchange rate, adding a markup of roughly 0.75% on major pairs. The cost is real; it is just hidden in the rate rather than shown as a charge.
Does Remitly support cash pickup?
Yes. Remitly supports cash pickup, bank deposit, and mobile money across many countries, which is a lifeline where bank access is thin. That reach is its main advantage over XE, which only does bank deposits.
Are the fees shown here exact?
No. The table uses the current mid-market reference and, where available, a Wise account-holder API estimate. Other providers use stored published fee and markup models, not live quotes, so the results are modelled estimates for typical routes. Remitly's fee and markup vary by route, and XE's markup varies by currency. Always confirm the final figure on the provider's own site before you transfer.
Cost figures are worked out from each provider's published fee structure applied to the current mid-market reference rate, modelled estimates for typical major-currency routes. Remitly's fee and markup vary by route; XE's markup varies by currency. The figures shown are representative. Always confirm the final quote on the provider's own site before you transfer. We may earn a commission from affiliate links at no extra cost to you; this never affects rankings. Nothing here is financial advice.
Sources: Remitly pricing (opens in a new tab), XE help centre (opens in a new tab), Wise pricing (opens in a new tab). Accessed August 2026.