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Remitly

Remitly

International Remittances

VS

Banked

Open Banking Payments

Banked
Fees from
Custom vs From 0.1% per transaction
Features

3 shared

1 unique to Banked
Regions

2 shared

3 unique to Remitly
Pay methods

1 shared

4 unique to Remitly
On licensing

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Show full specs
4 features · 5 payment methods · 5 regions. We don't rank these — they're here for reference.
Remitly Remitly
Banked Banked
Quick Facts
Fees
Standard transaction rate
Custom
From 0.1% per transaction
Settlement
Time to receive funds
—
Instant
Founded
2011
2018
Headquarters
Seattle, Washington
London, United Kingdom
Sandbox / Test Mode
—
✓
Webhook Support
—
✓
Features
Banked leads (4 vs 3)
Enterprise
✓
✓
Instant Payout
✓
✓
Instant Sandbox Unique
—
✓
Low Fees
✓
✓
Payment Methods
Remitly leads (5 vs 1)
Bank Transfer
✓
✓
Cash Payment Unique
✓
—
Credit Card Unique
✓
—
Debit Card Unique
✓
—
Mobile Wallet Unique
✓
—
Regions
Remitly leads (5 vs 2)
Africa Unique
✓
—
Asia Unique
✓
—
Europe
✓
✓
Latin America Unique
✓
—
North America
✓
✓

Remitly is best when you...

International Remittances
Want coverage in Africa, Asia, Latin America
Banked doesn't cover these regions
View Remitly

Banked is best when you...

Open Banking Payments
Need Instant Sandbox
Not available with Remitly
View Banked

Frequently Asked Questions

What is the difference between Remitly and Banked?
They share 1 payment method and 2 regions. Remitly adds Cash Payment, Credit Card, Debit Card and 1 more that Banked does not list; Remitly also covers Africa, Asia and 1 more; only Banked offers Instant Sandbox.
Which is cheaper, Remitly or Banked?
Remitly has custom pricing quoted on engagement; Banked has published rates from From 0.1% per transaction. Headline rates exclude fixed per-transaction fees, FX and chargeback costs, so model your own mix before deciding.
Where can I use Remitly and Banked?
Remitly lists 5 regions and 5 payment methods; Banked lists 2 and 1. both cover Europe, North America. Check the country list on each profile before onboarding — regional coverage is not the same as local acquiring.
How do Remitly and Banked compare on integration and settlement?
Banked offers a sandbox, Remitly does not list one; Banked supports webhooks; Banked publishes a settlement time of Instant.

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Data on this page is indicative and may be out of date — always verify fees, coverage, and terms directly with each provider before signing. Comparisons are generated from published data and provider-submitted updates; they are information, not advice or an endorsement. Some outbound links may earn us a referral commission — commissions never influence scores or rankings.

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