Founded by Ismail Ahmed, Catherine Wines, and Richard Igoe in 2010, World Remit is an online money transfer service that enables people to send money internationally. It supports over 90 different currencies and services are available across 150 countries worldwide.
With so many remittance companies to choose from, it’s important to know whether WorldRemit is the right one for you. In this review, we will explore all the features provided by WorldRemit and how it compares against its competitors.
How to transfer money with WorldRemit?
There are 2 ways to send money through WorldRemit: either online from your browser or through the WorldRemit Money Transfer Mobile App.
Here are the steps to send money online through WorldRemit:
Here are the steps to send money online through WorldRemit Mobile App:
#Protip You can create a secure personal identification number (PIN) on top of the password for added security.
WorldRemit Mobile Apps Review
WorldRemit’s mobile apps have 4.2/5 stars on Google’s Play Store for 63,861 total ratings
And has 4.8/5 stars for over 60K ratings on Apple App Store.
What kind of IDs does WorldRemit accept?
WorldRemit is required to verify its customer by law, so you will need to upload your photo ID and proof of address.
For proof of address, you can use your Utility Bills or Bank Statement. For more information about the type of IDs and proof of address accepted, you can visit the FAQ page.
Different payment methods to send money through WorldRemit
Once you are ready to transfer the funds, you will be presented with multiple options to make your transfer -
The wallet supports a range of foreign currency and you can still send money to any WorldRemit wallet even if it is not available in your country. With this option, you can select the currency you want to send the money in and you would just need their WorldRemit number to complete the transaction.
If the recipient is in a country where WorldRemit Services are available, you can transfer money using this option even if he/she hasn’t yet signed up to WorldRemit Wallet. WorldRemit will send a message explaining the steps required to access the money. The amount will be returned to you if they don’t register within 14 days.
WorldRemit Transfer Fees
WorldRemit Transfer fees that range from $3.99 to $24.99 depending on the currency you are sending in, the recipient country, amount, and delivery option. You can get the fees waived off for your first transfers with WorldRemit using the code 3FREE in the promo code box.
Banks at the receiving end of the transfer may charge some hidden fees. If your bank is among the ‘local partners’ listed by WorldRemit, these fees can be reduced or eliminated.
WorldRemit Exchange Rates
WorldRemit offers competitive exchange rates in the industry, which is much higher than what the banks and traditional money transfer companies will offer.
How to avoid WorldRemit fees?
Money Transfer Companies make money on the Transfer fee and/or on the difference in the exchange rates. There is no legal way to avoid both fees but there are ways to make sure you are not paying extra.
Compare top money transfer companies side-by-side. Important factors to consider while comparing money transfer companies are exchange rates, transfer fees, and speed of transfer.
Your payment and payout methods will also influence your cost. For instance, payments through credit cards will incur a higher fee as the provider might charge you a cash advance fee. Cash pickups also incur a higher cost as the receiving side is facilitated by a partner. For instance, your recipient can receive money transfer through pawnshops in the Philippines.
WorldRemit has excellent reviews on Trustpilot with an average rating of 4.5 out of 5. WorldRemit customer service is available 24/7 via their website and mobile app for any queries or complaints. Depending on your query, you can select between the customer care options; FAQs, Chatbot, Email, and Phone.
WorldRemit’s customer care numbers are
Is WorldRemit safe?
WorldRemit is headquartered in the UK. All financial institutions in the UK are regulated by the Financial Conduct Authority (FCA). According to FCA data, WorldRemit is registered as an Authorised Electronic Money Institution which has permission to issue electronic money (e-money) and provide payment services.
In addition, all money transfer companies that facilitate international money transfers have to comply with a number of other global regulatory bodies in the countries they serve.
The website and apps are specifically designed to ensure security to protect genuine people and prevent fraud. In any case, make sure you understand how to protect yourself from financial fraud.
In conclusion, there are many advantages to using WorldRemit:
The only limitation is the limit on large transfers. If you are looking to remit a large sum of money we have you covered. Here are the best ways to send a large amount of money internationally.