If you are sending to a less well-known destination, however, Western Union may be a viable option for you due to the sheer number of countries it supports. Compare our rate and fee with Western Union, ICICI Bank, WorldRemit and more. The brand receives excellent reviews, offers competitive rates, and can complete the majority of transfers with minutes. We give you the real rate, independently provided by Reuters. Overall, our findings between Remitly vs Western Union are that you will typically find lower rates, faster transfer times, and more efficient customer service when using Remitly’s services. However, in the past decade or so Western Union has made efforts to modernise with a user-friendly website and app for more convenient money transfers online to blend seamlessly with their physical agent locations in order to compete with the serious competition they face from multiple startups including Remitly, Western Union built its network of agent locations in the years before digital really came into play. We offer competitive foreign exchange rates on 50+ currencies. Western Union was founded in 1850, making it one of the most establish money transfer operators in the business.
Today, the company is growing rapidly, having received backing from multiple credible sources such as Generation Investment Management, DN Capital, and Stripes Group. The brand’s vision is to “transform the lives of immigrants and their families by providing the most trusted financial service products on the planet.” Remitly was co-founded by Matthew Oppenheimer and Joshua Hug in 2011 after Matt saw how difficult it was to send and receive money overseas.
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