Remitly Business · FX specialists
Remitly Business review
Remitly Business is the business arm of Remitly, the NASDAQ-listed remittance company, built for small businesses that pay freelancers, contractors and suppliers overseas. It sends from Canada, the US and the UK to more than 175 countries in over 100 currencies, delivered by bank deposit, mobile wallet, cash pickup or debit card deposit.
Who Remitly Business is best for
Small businesses paying overseas freelancers and contractors, companies that want low, upfront per-transfer fees with no subscription and businesses paying recipients who prefer mobile wallets or cash pickup.
Finance teams that need forwards, options or other hedging tools and businesses wanting multi-currency accounts to hold balances.
Remitly Business is the business arm of Remitly, the NASDAQ-listed remittance company, built for small businesses that pay freelancers, contractors and suppliers overseas. It sends from Canada, the US and the UK to more than 175 countries in over 100 currencies, delivered by bank deposit, mobile wallet, cash pickup or debit card deposit.
There are no setup or monthly fees — you pay a per-transfer fee shown upfront, alongside a competitive exchange rate. Remitly is registered with FINTRAC as a payment service provider under Canada's Retail Payment Activities Act. It does not offer hedging tools such as forward contracts, so it suits straightforward payments rather than currency risk management.
Fees, features and eligibility
| Hedging tools | No hedging tools |
|---|---|
| FX margin | Competitive exchange rate shown before you send |
| Fees | No setup or monthly fees; per-transfer fee shown upfront |
| Transfer speed | Many transfers arrive in minutes |
| Provider type | FX specialist |
| Currencies | Payments to 175+ countries in 100+ currencies |
Source: Remitly Business published product information.
What stands out
Pros
- Payments to 175+ countries in 100+ currencies
- No setup or monthly fees — pay per transfer
- Bank deposit, mobile wallet, cash pickup and debit card delivery
- FINTRAC registered under Canada's RPAA
Cons
- No hedging tools such as forward contracts or limit orders
- Transfer fees and FX margins vary by corridor and payment method
Remitly Business: common questions
What is Remitly Business?
Remitly Business is an international payment service for businesses that need to pay freelancers, contractors, vendors or suppliers overseas. It sends to 175+ countries from your existing bank account, debit card or credit card, with no monthly fees.
How is Remitly Business priced?
There are no setup or monthly fees. You pay a per-transfer fee shown upfront before you confirm, and the exchange rate is displayed before you send.
Is Remitly Business available in Canada?
Yes. Remitly is registered with FINTRAC as a payment service provider under Canada's Retail Payment Activities Act, and Remitly Business is available to businesses in Canada, the US and the UK.
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