WorldRemit is a well-established player in the money transfer industry, having been founded in 2010. With its extensive reach in over 150 countries, WorldRemit offers a convenient solution for sending and receiving money globally.
But is WorldRemit the right choice for you?
Whether you’re sending money to support loved ones, paying for international services, or simply exploring different money transfer providers, this review will equip you with the information you need to decide whether WorldRemit is for you.
What is WorldRemit and how is it different?
WorldRemit was founded in 2010 and is headquartered in London, United Kingdom. The company allows users to send money to people overseas quickly and easily. It enables users to send money via bank transfer, cash pickup, mobile money, and airtime top-up.
WorldRemit is an online-based service that can be accessed through their website or mobile app, which is available for iOS and Android devices. Users can create an account, verify their identity, and send money to the countries that WorldRemit supports.
The process is straightforward, and the company prides itself on providing transparent fees and exchange rates. Additionally, WorldRemit offers 24/7 customer support to help users with any issues they may have.
Pros & Cons of WorldRemit
Pros:
- A fast and efficient platform for transferring money internationally
- Excellent and competitive exchange rates
- Various payment options
- Available worldwide
- Accessible customer service
- Multi-Language support
Cons:
- Fees can vary depending on payment methods
- Some users are frustrated with the transfer limits
- Not all currencies are supported
- The verification process can be tiresome
Who is WorldRemit For?
WorldRemit is ideal for individuals or businesses looking for an easy-to-use platform for sending money internationally. The platform is user-friendly and straightforward to navigate, making it easy for customers to transfer money.
WorldRemit is also available worldwide, making it a great option for people who have friends or family in other countries who need to send money. The platform offers customer support through phone, email, and live chat.
People who like having multiple payment options benefit from using WorldRemit. You can fund your international transfers with your bank account, credit card, or debit card. The recipient can also receive the payment to their mobile wallet, bank account, or a physical location for them to collect the funds as cash.
How does WorldRemit work?
The process of using WorldRemit to send money is relatively simple. Here is an overview of how it works:
- To start using WorldRemit, you must sign up for an account. This typically involves providing your personal information, such as your name, address, and contact details. You will also need to provide some form of identification, such as a passport or driver’s license.
- Once you have signed up, you can start to make money transfers.
- WorldRemit offers a variety of options, including bank transfers, credit/debit cards, and mobile money.
- Next, you can choose a payment method and select the amount of money you want to send. WorldRemit will then provide you with the exchange rate and the fees for the transfer.
- Before the money is sent, you will need to confirm the transaction. This involves reviewing the transfer details, such as the recipient’s name, the amount to be sent, and the fees.
- Once you have confirmed the transaction, the money will be sent. After the money has been sent, you can track the status of your transfer on the WorldRemit platform. This will allow you to see when the recipient has received the money.
WorldRemit App review
WorldRemit’s app is designed to be straightforward to use. Users can easily create an account and start making transfers within minutes. The app also provides clear and concise instructions for each step of the transfer process, making it easy for even novice users to send money abroad.
WorldRemit offers many features for sending money abroad, including bank transfers, cash pickups, and mobile money transfers. The app features real-time exchange rates and fees, so users can easily calculate the cost of their transfer.
Moreover, users can choose from a variety of payment methods, including debit and credit cards, bank transfers, and mobile payments.
WorldRemit takes its app security seriously. The app uses encryption and other security measures to protect users’ financial information. Additionally, users can set up a secure PIN or use biometric authentication to access the app.
Is WorldRemit safe and legit?
WorldRemit is a licensed and regulated money transfer service provider, which means it complies with laws and regulations in the countries in which it operates. It’s registered with several financial authorities around the world.
The company adheres to stringent regulations to keep your money safe and secure regardless of where it is based.
It also implements various security measures, such as encryption and two-factor authentication to protect customers’ personal information and transactions.
However, as with any online platform, it’s always important to be cautious and protect yourself by keeping your account information private and checking the fees and exchange rates before transferring.
Additionally, check the regulations and laws of the country you send money to and from, as it may limit the amount of money that can be sent.
What are WorldRemit’s fees (for US customers)?
WorldRemit’s fees for sending money from the U.S. to other countries include a fixed fee and a variable exchange rate margin.
The fixed fee typically ranges from $1.99 to $4.99, depending on the country and payment method.
What are WorldRemit’s international fees?
WorldRemit charges a fixed fee for each transfer, ranging from a few dollars to over $20, depending on the country, amount, and payment method. Additionally, WorldRemit may charge a variable exchange rate margin.
See our article Cheapest International Transfers.
WorldRemit’s customer reviews
WorldRemit has positive customer reviews on Trustpilot, with an overall rating of 4/5 stars.
Customers praise the platform for its convenience, speed, and easy-to-use interface. Many users also appreciate the variety of payment methods and the ability to send money to various countries.
The app has an Apple store rating of 4.8/5 and the Android app has a rating of 4.7/5 which is impressive.
Some customers found the process of validating payment methods to be tedious. Others have experienced delays in transactions. Having said that, users also mentioned that the problem was fixed. Nonetheless, it’s a technical downside to be wary of.
See our review of Best Cash Apps.
WorldRemit alternatives
Some of WorldRemit’s best alternatives include Remitly, XE, Wise, PayPal, and OFX. Here’s a quick rundown of what some of the best alternatives have to offer:
Remitly – Remitly offers an online money transfer service that’s best for US and UK residents. This service is ideal for mobile top-ups and cash pick-ups from a range of locations. Furthermore, Remitly is ideal for transferring smaller funds with family and friends.
Related post: WorldRemit vs Remitly.
OFX – OFX allows for international transfers between over 190 countries with 55+ currencies supported. Similarly to WorldRemit, OFX has an app and website which are easy to use for transferring funds. One of the main downsides to OFX is that they have a $250 minimum transfer amount which may not be suited for those wanting to transfer smaller funds.
XE – The main benefit of XE over WorldRemit is that they don’t charge a flat fee, regardless of the amount of money being transferred. Similarly to WorldRemit, they have an exchange rate margin. However, XE doesn’t offer cash pick-ups whereas WorldRemit does across certain locations.
See Western Union vs WorldRemit comparison.
FAQ
What is WorldRemit sending limits + per day limit?
WorldRemit’s sending limits vary depending on the country, the payment method, and the account verification level. The limits can range from a few hundred to several thousand dollars per transaction.
How to create a WorldRemit account?
To create a WorldRemit account, go to their website and, complete the registration form with your personal information. Next, create a password.
Can you use WorldRemit everywhere?
WorldRemit offers money transfer services to over 150 countries worldwide, including popular destinations such as the United States, United Kingdom, Canada, Australia, and many countries in Europe, Africa, Asia, and Latin America.
Verdict
WorldRemit is a great option for people who need to send money abroad quickly and easily. The company offers a wide range of transfer options, including bank transfer, cash pickup, mobile money, and airtime top-up, making it easy for recipients to access the money in a range of ways that suit them best.
Additionally, WorldRemit’s competitive fees and transparent exchange rates make it a cost-effective option for sending money abroad.
There’s a transfer limit of $9,000 for international transfers which resets every 24 hours.
This may be a downside for individuals or businesses who are looking to transfer over $9,000 overseas consistently.
Having said that, most people using WorldRemit don’t experience any issues with the transfer limit. Overall, WorldRemit is a reliable and convenient choice for sending money internationally.
Sources
- https://www.worldremit.com/en/how-it-works?transfer=csh&selectto=zw&amountfrom=100.00¤cyto=usd¤cyfrom=gbp
- https://www.worldremit.com/en/gb?amountfrom=100.00&selectfrom=gb¤cyfrom=gbp&selectto=ph¤cyto=php&transfer=csh
- https://www.worldremit.com/en/account/signup
- https://www.worldremit.com/en/faq/send-to#:~:text=You%20can%20send%20money%20to,Africa
- https://www.worldremit.com/en/contact-us
