Send $1,000 from dollars to euros and Wise takes about $3.44, while Remitly takes about $22.91 on its cheaper Economy option. So Wise wins on this route, at this size.
But Remitly is not really trying to be the cheapest on a dollar-to-euro transfer. It is built to get money to family in emerging markets, fast, and often into a pair of hands rather than a bank account. Pick the wrong option and you pay for speed you did not need. 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.
- On a major route like USD to EUR, Wise is usually cheaper, because Remitly adds a markup of about 1.9% on top of its fee.
- Remitly's Express option arrives in minutes but costs more; its Economy option is cheaper and slower.
- A first transfer can look cheap because Remitly often runs a promotional rate for new customers. That rate does not last.
- Where Remitly earns its keep is cash pickup and speed on routes to family, things Wise does not always offer.
How Wise charges
Wise hands you the mid-market rate and adds a variable fee on top, around 0.33–0.5% on popular routes like US dollars to euros, plus a small fixed charge of roughly $0.61. No subscription, no monthly limit, no weekend surcharge. The number at checkout is the number you pay.
You always know what you'll pay. You never check the calendar or pick a speed tier. The trade-off is that Wise charges from the first dollar, and on routes where Remitly runs a promo rate, a first-time Remitly transfer can undercut it.
How Remitly charges
Remitly prices each route on its own, and the cost moves with two choices you make: how fast you want the money to arrive, and how you pay for it.
- Economy (bank-funded): the cheaper option, usually one to three business days.
- Express (card-funded): arrives within minutes, costs more.
On top of a flat fee of about $3.99, Remitly bakes a markup into the exchange rate, roughly 1.9% on a route like this one. That markup is where most of the cost lives, and it is the reason the all-in figure sits above Wise on a major pair.
Head to head, by amount
The gap holds as the amount grows, because Remitly's markup is a percentage. Here is the same dollar-to-euro transfer at three sizes, with the current estimates.
$1,000: Wise is ahead
Wise lands near 0.34% all-in. Remitly's Economy option sits higher, because the 1.9% markup applies from the first dollar.
$5,000: the markup starts to show
At $5,000 the flat fees barely matter. What decides it is the percentage, and Remitly's markup is several times Wise's. The dollar gap between the two is now real money.
$10,000: same story, bigger numbers
A percentage markup scales with the transfer. On a $10,000 send, Remitly's 1.9% is worth a few hundred dollars, and Wise's flatter cost pulls further ahead.
The pattern at a glance
The bars at $10,000 make it plain: Wise sits low, Remitly higher, and the distance between them is almost all the markup. The next chart splits that same transfer into the visible fee (gold) and the part hidden in the rate (red). Remitly's bar is mostly red.
Speed is the real product
The savings in context
Across the displayed estimates, choosing Interactive Brokers over MoneyGram leaves an extra €326.11 (3.93%) in the recipient's account.
Same 10,000 USD and the same market rate before fees. Provider availability, how you pay and the final price can change the result.
Who should pick what
Pick Wise if you send to a bank account, you want the cost to be the same every time, and you are moving a larger sum where a percentage markup hurts. On major routes it is the cheaper of the two, and there is no promo rate to fall off.
Pick Remitly if your recipient wants cash in hand, speed matters more than the last fraction of a percent, or you are sending to a country where Remitly's payout network runs deep. Choose Economy to keep the cost down; pay for Express only when the money is urgent.
Check Interactive Brokers when a large exchange will fund an investment, trade or currency hedge in the brokerage. IBKR's very low spot-currency commission can beat both well before $50,000, depending on the currencies and final traded price. It is not a cash-pickup service or a simple way to pay a relative, so keep Wise or Remitly for those jobs. The full comparison shows the estimated cost.
The bottom line
For a bank-deposit transfer on a major route, Wise is the cheaper choice, and it stays cheap as the amount grows. Remitly costs more on the same transfer, because it adds a markup of about 1.9% on top of its fee. You are paying for what Remitly does well: fast payouts and cash pickup on the routes families actually use.
Decide what you are buying before you compare the price. If it is the lowest cost into a bank account, Wise wins. If it is cash in a relative's hand by tonight, Remitly is often worth the premium. Either one beats a bank, which would take 3% or more on the same transfer. Our guide to cutting FX fees shows how to read a quote so nothing is hidden from you.
Frequently asked questions
Is Wise cheaper than Remitly?
Usually, yes, on a major route into a bank account. Wise charges a small, transparent fee at the mid-market rate, while Remitly adds a markup of about 1.9% on top of its fee. Remitly can look cheaper on a first transfer because of a promotional rate, but that rate does not last.
When is Remitly the better choice?
When speed or cash pickup matters more than the lowest price. Remitly's Express option arrives in minutes, and it pays out in cash at local agents on many routes to family abroad, which Wise does not always offer. For those sends, the extra cost can be worth it.
What is the difference between Remitly Express and Economy?
Express is funded by card and arrives within minutes, but it costs more. Economy is funded by bank transfer, takes one to three business days, and is the cheaper of the two. If the money is not urgent, Economy keeps more of it.
Are these numbers exact?
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 pricing varies by route and by Express versus Economy, and new-customer promos are not reflected. Always confirm the final figure on the provider's own site before you send.
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 pricing varies by route and by Express versus Economy; 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: Wise pricing (opens in a new tab), Remitly pricing (opens in a new tab), Interactive Brokers commissions (opens in a new tab), Interactive Brokers (U.K.) Limited Client Agreement for Carried Products (opens in a new tab), IBUK and IBLLC Client Agreement (opens in a new tab), IBKR third-party withdrawals (opens in a new tab). Accessed 22 August 2026.