Running a business involves managing financial transactions efficiently, especially when your operations span across borders. With Remitly Business, you can streamline payments to vendors, contractors, or team members in over 100 international currencies. This guide breaks down everything you need to know—from signing up to understanding the benefits of using Remitly for business payments.
What is Remitly Business?
Remitly for Business is an extension of Remitly’s trusted services, tailored to cater to the needs of small businesses. This feature enables businesses to make international payments quickly and efficiently, with support for over 170 countries and multiple delivery methods.
Who is it for?
Remitly’s business payments are ideal for:
- Business Owners: Streamline payments to international contractors and employees.
- Small businesses: Perfect for immigrant-owned businesses that need straightforward, no-frills payment solutions.
- E-commerce Sellers: Pay your suppliers and vendors promptly to maintain smooth operations.
- Global Startups: Manage global payroll without the complexities of traditional banking.
How can you use it?
With Remitly, you can:
- Pay International Freelancers: Quickly compensate contractors and freelancers across borders.
- Manage Payroll: Ensure remote team members get paid on time, in their local currencies.
- Send Vendor Payments: Take care of supplier invoices without hidden fees.
- Handle One-Time Payouts: From bonuses to refunds, support every payment seamlessly.
What Business Types is Remitly Suitable for?
Currently, Remitly for Business serves U.S.-based companies formally registered as sole proprietorships, LLCs, S-corporations, or C-corporations. Before signing up, review the Business Account Agreement and Acceptable Use Policy to ensure your company meets eligibility guidelines.
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Simplifying the Sign-Up Process
Getting started with Remitly for Business is quick and straightforward. Here’s how you can create your business account in a few simple steps:
- If you already have a Remitly personal account, log out before proceeding.
- Visit the Remitly Business website and select “Create business account.”
- Enter your business email address and choose a secure password. Click “Join now.”
- Note: Be sure to register with a different email address if you already have a personal account.
- Provide essential details, including your legal business name and type.
- Click “Check eligibility” and follow instructions to confirm your business information.
It’s that simple. Once your account is set up, you’ll be ready to make secure, international payments in just minutes.
Who Can Create a Remitly Business Account?
Currently, Remitly for Business serves U.S.-based companies formally registered as sole proprietorships, LLCs, S-corporations, or C-corporations. Before signing up, review the Business Account Agreement and Acceptable Use Policy to ensure your company meets eligibility guidelines. These resources also outline any restrictions that may apply.
What You’ll Need to Open a Business Account
Starting your Remitly for Business account is easy if you have the following details ready to go:
About You
- Your full name and date of birth
- Tax identification (SSN, ITIN, or valid government-issued ID)
- Mobile number and home address
About Your Business
- Your business address and website (if applicable)
- Industry, customer details, and reasons for sending money
- EIN (Employer Identification Number), if relevant
- Employee count
Ownership Information
- Your job title and ownership percentage
- The same details for any other business owners, including their addresses and tax IDs
After submitting your information, Remitly may request additional documents to verify your business. If your business details change over time, contact Remitly to ensure your account remains updated.
5 Key Benefits of Using Remitly for Business
Remitly stands out as an accessible and intuitive platform for global payments. Here’s why businesses are making the switch.
1. Fast and Easy Setup
Getting started is quick. You can set up your business account in minutes, without the need for excessive paperwork or agents. Once signed up, it only takes a few clicks to initiate secure payments.
2. Lightning-Fast Payments
Time-sensitive payments are no problem. With Remitly, recipients often collect their funds in less than an hour. This speed is a game-changer for managing global payroll or paying vendors promptly.
3. Transparent and Competitive Fees
Worried about hidden charges? Don’t be. Remitly offers clear upfront pricing and competitive exchange rates, ensuring your business enjoys cost-effective global payments without surprises.
4. Multiple Delivery Options
Whether your recipient prefers bank deposits, mobile wallets, or cash pickups, Remitly supports it all. The platform boasts a network of 470,000+ cash pickup points worldwide, a feature that sets it apart from competitors.
5. Dedicated Business Support
Business needs require expert assistance, and that’s exactly what you’ll get. Remitly offers personalized support from specialists who understand global payments and can help address any challenges your business may encounter.
Frequently Asked Questions
Who can use Remitly for business payments?
Remitly for Business is available for U.S.-based businesses that are formally registered as sole proprietorships, LLCs, S-corporations, or C-corporations. To ensure eligibility, take a moment to review our Business Account Agreement and Acceptable Use Policy for details on supported company types and any restrictions.
Does it cost anything to open a Remitly business account?
No, creating your Remitly business account is free.
How much can I send with a business account?
Transfer limits vary based on factors such as the origin and destination of the payment and the chosen delivery method.
What payment delivery methods are available?
Recipients can get funds through multiple options depending on their location:
- Cash pickup
- Mobile money
- Home delivery
- Debit card deposit
- Direct bank deposit
Senders need an active Remitly account, but recipients do not need their own account to receive funds.