Ireland has become an increasingly important hub for international remittances, with many residents sending money abroad to support family and friends.

As more people turn to digital solutions, services like Remitly have become popular due to their ease of use and reliability.

Remitly provides a straightforward way to send money from Ireland to various countries, including India, offering flexible options tailored to different needs.

In this blog, we'll explore Remitly's services for Irish customers so you know exactly what to expect when sending money abroad and encourage you to consider Vance, an alternative solution that may better suit your needs.

How Remitly Transfers Work in Ireland?

Remitly operates as a digital remittance service, allowing you to send money online from Ireland to various countries, including India. The process is straightforward: sign up, enter the recipient's details, choose the transfer speed, and pay using your preferred method—usually a bank transfer, debit, or credit card.

Key Features:

• Two Transfer Options: Remitly offers Express and Economy transfers. Express delivers funds within minutes quicker, while Economy takes 3-5 business days but is usually cheaper.
• Multiple Delivery Methods: Depending on the destination country, you can send money directly to a bank account, mobile wallet, or even for cash pickup.

What are the charges for Remitly Money Transfers from Ireland to India?

Understanding Remitly's fee structure is essential to avoid unexpected costs. Here’s what you might expect:

1. Transfer Fees:

• UPI: €0 fee, making it a free option for quick transfers.
• Bank Deposit: €0.99 fee, suitable for secure transfers directly to a bank account.
• Cash Pickup: €0.99 fee for recipients who prefer to collect cash at partnered locations.

2. Exchange Rate Margins:

‍Remitly adds a margin to the exchange rate, meaning the rate you see is slightly lower than the actual market rate. This margin varies depending on the transfer speed and destination.

For those seeking more transparency, services like Vance provide real-time Google exchange rates with no hidden margins, ensuring that more of your money reaches its destination.

3. Additional Costs:

‍Using a credit card to fund your transfer can incur additional charges, such as cash advance fees. The recipient's bank or mobile wallet provider might also charge fees for receiving the funds.

Vance offers a more straightforward approach, minimising these extra charges to help you get the best value for your money.

Transfer Timings: How Fast is Remitly?

The speed of your transfer with Remitly depends on your choice of the Express or Economy options:

• Express Transfers: Typically completed within minutes, making it ideal for urgent transfers.
• Economy Transfers: Usually take 3-5 business days but at a lower cost.

If speed and transparency are essential, services like Vance offer quick transfers without compromising cost, ensuring you get the best value for your money.

Enjoy Money Transfers from Ireland to India with Vance

Experience lightning-fast money transfers from Ireland to India with Vance. Get real-time Google rates on all your money transfers with absolutely no hidden fees - no surprises, just the best deals on every transfer.

Stay ahead with our exclusive rate alerts, tracking the EUR to Rupee so you can send money at your desired rate. Join a savvy community of over 100,000 NRIs who’ve collectively saved more than ₹50 Cr in transfer fees.

In Conclusion

Choosing a money transfer service requires considering speed, overall cost, and transparency. Remitly offers a reliable and convenient option for many, but exploring other services that focus on transparency and cost-effectiveness might be worthwhile, depending on your needs.

By carefully selecting an exemplary service, you can ensure that your money transfers are efficient and economical.

Sources

• Remitly: https://www.remitly.com/ie/en/india
• Remitly About Us: https://www.remitly.com/ie/en/home/about
• Pricing & Fees: https://www.remitly.com/ie/en/india/pricing

Disclaimer 

This content is for general informational purposes only and should not be taken as financial, legal, or professional advice from Vance or its affiliates. While we strive for accuracy, the information may change over time. Vance makes no representations, warranties, or guarantees, whether express or implied, regarding the accuracy, completeness, or reliability of the information provided. The comparison is based on publicly available data and is intended to assist users in making informed decisions. It is not a substitute for professional advice or consultation with financial experts. Please review the terms of use and product availability for your region, or visit the service provider's website for the latest pricing and service information.

FAQs

Q1. What payment methods can be used with Remitly in Ireland?

Remitly users in Ireland can pay using a bank account, debit card, or credit card.

Q2. How does Remitly manage exchange rates for transfers from Ireland?

Remitly offers exchange rates with a slight margin added to the market rate, which covers the currency conversion process.

Q3. Are there any Irish regulations that impact Remitly transfers?

Remitly complies with standard European regulations, with no unique restrictions specific to Ireland that significantly impact the process.

Q4. What is the maximum amount limit to send from Ireland using Remitly?

The maximum amount limit varies depending on the recipient country and the verification level of your account.

Q5. How do I monitor my Remitly transfer from Ireland?

You can track your transfer in real time through the Remitly app or website, which provides updates on the status of your transaction.