We study the value of FinTech for retail consumers from individual overseas remittances on a FinTech platform. The value of FinTech mostly comes through overcoming various frictions such as high cost or time/spatial constraints of transaction. Using detailed transaction-level overseas remittance data from a leading FinTech rm in Korea, we nd that the FinTech platform lowers remittance cost by 10.6% on average compared to tra- ditional commercial banks. However, we nd mixed results regarding the time/spatial exibility provided by the FinTech platform that it may not always lead to the optimal timing of remittance transactions. While the FinTech platform can enhance consumer welfare by allowing constraint-free transactions with some advanced features in the plat- form, the exibilities can also harm consumers by amplifying their behavioral bias.