Hanane and her husband are originally from Morocco but now live in the Boston area. Like many families who’ve moved abroad, they help support relatives back home. Hanane used to send money in person, often waiting in long queues at the counter. So, when she first heard about the Remitly app, she was intrigued but cautious.
“At first, you think, it could be a scam,” she admitted during a recent interview.
To test the waters, Hanane sent a small transfer to her sister in Morocco. Soon after, her sister confirmed she’d successfully collected the money from the usual location. That’s when Hanane knew she could trust it.
“That’s it, it’s working, it’s real!” she told her husband.
Months later, Hanane is a loyal Remitly user, just like millions of customers around the world.
There are plenty of options for sending money abroad, but not all services prioritise security as we do. Let’s explore exactly what makes Remitly safe, from advanced technology to our expert security team.
Security Is in Remitly’s DNA
Alex Maestretti, our Chief Information Security Officer (CISO), explains it like this:
“Remitly was founded with the vision of becoming the best global bank for immigrants. From the very beginning, security and compliance were top priorities.”
In other words, safety is integral to who we are.
“Culturally, everyone at Remitly understands the importance of earning our customers’ trust with every transaction,” Maestretti adds. “Our CEO, Matt, and other leaders regularly emphasise that security is the foundation of our business.”
So, how do we keep your money and personal details secure?
How Does Remitly Keep Your Money Safe?
1. We’re Registered and Licensed
Remitly is fully licensed and compliant with all regulations in the countries where we operate. Following these laws protects our customers and ensures safe transfers.
For example:
- Remitly is regulated by the Financial Conduct Authority (FCA) in the UK.
- We are a registered Money Services Business with the US Department of Treasury.
- In Canada, we’re licensed to operate in all provinces, including Quebec.
As of June 2024, Remitly operates in 30 sending countries and over 170 receiving countries and territories. Wherever we are, we meet strict regulatory standards.
2. We Use Advanced Data Security
Your account security is our highest priority. We employ automated and manual risk management systems to detect suspicious activity, helping to protect you from fraud and hacking attempts.
Here’s how we safeguard your account:
- Password protection: Choose a strong password unique to Remitly.
- Two-factor authentication: We use your mobile phone to validate your identity, ensuring only you can access your account.
We also use the latest encryption technologies, including Transport Layer Security (TLS), AES256, and 2048-bit RSA. These methods are trusted by banks and government agencies worldwide.
Send and Receive Money Internationally in the UK with Remitly.
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3. We Verify Your Account
Just like opening a bank account, verifying your details is essential to secure your Remitly account and prevent fraud.
Depending on your location, we may request:
- A valid ID
- Proof of address
This process ensures your money is safe and complies with legal requirements for money transfer services.
4. Our Expert Security Team
Our in-house security experts work tirelessly to keep your money and personal details safe. They monitor transactions around the clock, identify vulnerabilities, and update systems to stay ahead of threats.
5. Cutting-Edge Technology
We use advanced machine learning to detect unusual activity and protect your data. Additionally, our internal systems are constantly monitored to shield against viruses and hacking attempts.
6. Secure Systems
To prevent fraud, we’ll lock your account after several failed login attempts. If you notice suspicious activity, report it immediately.
7. Reliable Customer Support
Our support team is available in multiple languages via chat, phone, and email to assist with any issues. We recommend live chat for the quickest response times.
8. Transfer Tracking
For peace of mind, you can track your transfers through the Remitly app. Updates are sent to you (and optionally to your recipient) so you know when the money arrives.
Frequently Asked Questions About Using Remitly in the UK
Is Remitly Safe to Use in the UK?
Yes. Remitly is regulated by the Financial Conduct Authority (FCA) in the UK and complies with all relevant laws and regulations.
How Does Remitly Protect My Personal Information?
We use high-level encryption, two-factor authentication, and constant transaction monitoring to keep your details secure.
What Happens If I Send Money to the Wrong Person Using Remitly?
You can cancel transfers through the Remitly app if the money hasn’t yet been collected. Contact our support team for further assistance.
Will I Be Asked to Verify my Remitly Account?
Yes, account verification ensures your money is secure and protects against fraud. You may need to provide ID or proof of address.
What Should I Do if I Notice Suspicious Activity on my Account?
Report any suspicious activity immediately through the Remitly app or contact our customer support team.
How Do I Contact Remitly Support?
You can reach us via live chat or phone. Live chat is the fastest option for assistance.
