WorldRemit Money Transfer: Review & Comprehensive Guide | CompareRemit
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WorldRemit Money Transfer: Review & Comprehensive Guide

Updated on September 18, 2023 01:27 am

As the global economy continues to evolve, so do the ways we send and receive money across borders. One name that has gained prominence in this arena is WorldRemit. Offering a platform designed to simplify global financial transactions, WorldRemit has garnered attention for its user-friendly interface and competitive rates. In this review and guide, we will explore WorldRemit's features, fees, security, and how to use it for your next money transfer. 

Whether you're supporting family abroad or conducting cross-border business, join us on a journey through WorldRemit's offerings, as we explore the potential benefits of choosing this service for your international money transfer needs.

What is WorldRemit Money Transfer?

WorldRemit is a digital money transfer service founded in 2010. It allows users to send money to over 150 countries worldwide, covering a vast network of destinations. With a mission to make sending money as easy as sending an instant message, WorldRemit offers a convenient and cost-effective way to transfer funds internationally.

Countries supported by WorldRemit Money Transfer include: 

  • Australia
  • Bangladesh
  • Canada
  • Chile
  • China
  • Colombia
  • Costa Rica
  • Egypt
  • El Salvador
  • India
  • Indonesia
  • Malaysia
  • Mexico
  • Nepal
  • New Zealand
  • Pakistan
  • Singapore
  • Sri Lanka
  • Turkey
  • United Kingdom
  • Vietnam
  • And many more. . . 

To view a complete list of countries that WorldRemit serves, navigate to the home page. There you will find the money transfer calculation tool. Select the drop down menu for the receiving country and you will be shown all the countries you can send money to!

To get started with WorldRemit, begin by creating a WorldRemit account on their website or mobile app. You'll need to provide your personal information and verify your identity in compliance with regulatory requirements.

How Much Does WorldRemit Money Transfer Cost? 

WorldRemit's fees for money transfers can vary based on several factors, including: transfer method and where you are sending money to. 

Regardless, WorldRemit prides itself on being one of the most affordable remittance services on the market. Sending money to most countries will typically have a standard fee of $3.99 applied; although this cost may decrease to as little as $1.99 depending on specific transfer conditions. 

Pro tip! WorldRemit will often have some promo code or promotional offer available, so we advise that you keep an eye out and see if there is one you can use before you begin your transfer process. 

What are the Ways I Can Send Money Internationally with WorldRemit? 

Depending on your location, the methods available for sending money through WorldRemit can vary. Fortunately, there is typically a wide array of options for you to use. Here are some of the methods you can use to send and receive money via WorldRemit:

  1. Cash Pickup: You can opt to collect your transferred funds in cash at one of WorldRemit's partner network locations, which are usually affiliated with banks.
  2. Bank Transfer: Another choice is to have the money directly deposited into your bank account. It's important to note that there may be additional fees associated with this option, so it's wise to confirm with your bank before proceeding with this method.
  3. Mobile Money: WorldRemit allows you to receive money into your existing mobile wallet service, which you can then utilize to pay bills or withdraw funds at authorized agents. Notably, WorldRemit stands out by enabling you to make your transfer payments using ApplePay, a feature not commonly offered by its competitors.
  4. Airtime Top-Up: You can also have money sent directly to your telecom network to cover your phone bill. This is a great option for NRIs wanting to fill their phone bill with ease. 
  5. Door-to-Door Delivery: For added convenience, physical cash can be delivered straight to your doorstep. However, it's imperative to present a valid ID that matches the details provided by the sender when choosing this option.

These versatile options cater to various preferences and needs, making WorldRemit a flexible and user-friendly platform for international money transfers.

How Much Money Can I Send Using WorldRemit? 

The maximum amount of money you can send using WorldRemit can vary by your payment method. 

If you are paying for your WorldRemit transfer with debit, credit, or pre-paid cards, you have a maximum sending amount of 9,000 USD in 24 hours and 5,000 USD per transaction. 

If you are paying for your WorldRemit transfer with ApplePay, you have a maximum sending amount of 9,000 USD in 24 hours and 300 USD per transaction. 

How Long Does WorldRemit Take to Send Money? 

The speed of WorldRemit's transfers relies on your chosen delivery method. f you select cash pickup, mobile money, or airtime top-up, your funds can be available within minutes, if not instantly.  

If you are transferring money using a bank transfer, it can take up to 2 business days; if you are transferring money using a home delivery service, it can take up to a week. 

Is WorldRemit Safe? 

WorldRemit is considered a reputable and safe platform for international money transfers. 

WorldRemit operates under the regulations of various financial authorities in the countries where it offers services. These regulations are in place to ensure the company complies with anti-money laundering (AML) and know your customer (KYC) requirements. By following these regulations, WorldRemit helps prevent fraudulent activities and money laundering.

WorldRemit uses strong encryption techniques to protect the transmission of data between users and its platform. This ensures that your personal and financial information remains confidential and secure during the transfer process.

Right off the bat, WorldRemit requires you undergo identity verification procedures to confirm the identity of its users. This may include submitting government-issued identification documents and other relevant information to verify your identity before you can use the platform.​​

Regardless, always make sure to exercise caution and follow best practices for online security when using any financial platform.

How to Send Money With WorldRemit? 

Now for the biggest question you must have: how does WorldRemit work?

Getting started with WorldRemit is a straightforward process. Here's a step-by-step guide:

  1. Sign Up: Visit the WorldRemit website or download the app. Sign up by providing your personal information, including your name, email address, and phone number. You'll also need to create a password.
  2. Verification: Verify your identity by providing a valid government-issued ID or passport. This step is crucial for security and regulatory compliance.
  3. Add Recipient: Enter the recipient's details, including their name, contact information, and bank account details if necessary.
  4. Select Transfer Method: Choose how you want to send money. WorldRemit offers various options, including bank transfers, mobile money, airtime top-up, and more.
  5. Enter Amount: Specify the amount you want to send. WorldRemit will display the exchange rate and the exact amount the recipient will receive.
  6. Payment: Enter your payment details. You can pay with a debit card, credit card, prepaid card, ApplePay, or bank transfer.
  7. Review and Confirm: Double-check all the details and confirm your transfer. WorldRemit will provide you with a confirmation receipt. You can track your transfer using the WorldRemit app or your login on their website. 

How to Contact WorldRemit? 

WorldRemit offers various ways to contact their customer support team for assistance or inquiries.

  1. Help Hub: Visit the Help Hub on the mobile app to search what you need help with. 
  2. FAQs: WorldRemit has a comprehensive help center or FAQ section on their website. This resource can provide answers to many common questions and guide you through various aspects of using their service.
  3. Phone: Still need help with WorldRemit? Call the support team at any time. Visit the "Contact Us" or "Support" section on their website to find the phone number to use for your specific region. If you call calling from the United States, the WorldRemit customer service number is +1 855 383 7579

Pros of WorldRemit Money Transfer

Based on our research of customer reviews and comparison to other remittance providers, the pros of the WorldRemit money transfer service are:

  • Global Reach: WorldRemit allows you to send money to over 150 countries worldwide, supporting various currencies and payout options.
  • Multiple Transfer Methods: You can choose from a range of transfer methods, including bank transfers, cash pickups, mobile money, and airtime top-ups, making it versatile for different recipient needs. 
  • Speed: Many transfers with WorldRemit are processed within minutes, ensuring that your loved ones receive the funds promptly.

Cons of WorldRemit Money Transfer Service

Based on our research of customer reviews and comparison to other remittance providers, the cons of the WorldRemit service are:

  • Exchange Rate Margins: Like many money transfer services, WorldRemit may include a margin in the exchange rate, which can affect the total amount your recipient receives.
  • Promotions May Vary: While WorldRemit often offers promotions and discounts on transfer fees, these promotions may not always be available, so your cost savings can vary.
  • ID Verification: To use WorldRemit, you must undergo identity verification, which can be an extra step and may take some time.

WorldRemit Money Transfer Service: Best Feature

As we briefly mentioned it before, WorldRemit's standout feature is undoubtedly its user-friendly transfer calculation tool. 

Accessible right from the homepage, this tool requires only a few key details – without needing any personal information. You input your recipient's receiving country and your chosen transfer method, and in an instant, you're presented with a comprehensive breakdown of your proposed transfer. From estimated transfer times to precise fee calculations and more, it offers unparalleled transparency, providing you with the clearest possible view of your transaction before you proceed. 

This invaluable tool ensures that your money transfer experience with WorldRemit is both straightforward and fully informed.

WorldRemit Money Transfer Service Alternatives

If you’re looking for an alternative to WorldRemit’s remittance service, here are some top remittance providers we recommend that offers low fees, excellent exchange rates, and are easy to use: 

WorldRemit Reviews

Need more assurance about WorldRemit? Let’s see what users of WorldRemit have to say. Sourced from multiple platforms, customer reviews of WorldRemit are: 

WorldRemit scores a “Great” rating on TrustPilot with a TrustScore of 4.1 out of 5. 

Once again, a flawless transfer! There are times when a number is "mistyped" or times when the connection between WorldRemit and MasterCard has a hiccup, but generally, my transactions are timely and flawless, and I'm very pleased with the service.” - Steve A. on TrustPilot

I am a long-term customer of WorldRemit. I use them to send money internationally to myself and to friends and family. Their fees are the cheapest I have come across. They are very cheap as compared to regular bank wire transfers. For about one dollar I can send money and it is received instantly. I therefore have no use for regular bank wire transfers.” - Mazhar C. on Supermoney

The ease of the process of sending money. I have one recommendation, can you guys add to your system info on where the recipients pickup the money exactly. Which particular outlet that the money is received from and have that info placed into the transaction history on my account.” - James on Trustpilot

Negative reviews pertain to issues with identity verification and transfer cancellations as a result. 

To see even more trusted reviews from users of WorldRemit, check out CompareRemit’s review page.  

Do We Recommend WorldRemit?

WorldRemit is a convenient and reliable platform for international money transfers, offering a wide range of transfer methods, competitive exchange rates, and a strong commitment to security. Whether you need to support family, pay bills, or invest overseas, WorldRemit provides an efficient and user-friendly solution. 

In a world that's becoming increasingly interconnected, having a trustworthy money transfer service like WorldRemit at your fingertips can make managing your global finances easier and more convenient than ever.

We invite you to compare remittance providers using CompareRemit’s comparison tool today to find the best rates, lowest fees, and fastest turnaround times for your specific destination and transfer amount.

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Sending Money To Nepal: eSewa International Money Transfer Service

Growth in digital remittances can be a game-changer in international remittances, mainly in terms of reducing the cost of global money transfer, increasing accessibility, and being more customer-centric. In the case of Nepal, which is one of the highest recipients of remittances in the world, youth are leading the mobile and digital revolution in the country. 50% of the users of eSewa, Nepal's most prominent digital wallet, are between the age of 18 to 30 years. With eSewa, users can make various payments such as pay utility bills, pay internal bills, recharge phones, book airline, and bus tickets, scan and pay to merchants, make a bank transfer (from eSewa to a bank account), and so on. There are also cashback and reward points upon registration. Established in the year 2019, eSewa Money Transfer is affiliated with F1Soft Group. With 15 million users (almost half of the country's population), F1Soft has been the leading fintech company in Nepal since 2004. eSewa is licensed by Nepal Rastra Bank under foreign exchange regulation, so it is a safe and highly regulated mode of money transfer. It offers traditional brick-and-mortar and agent-based remittance services along with the non-traditional digital modes of remittance.Money Transfer Services from the U.S. to Nepal with eSewa eSewa is partnered with various leading money transfer companies such as MoneyGram, WorldRemit, Remitly, Skrill Money Transfer, TerraPay, WireBarley, enabling customers from the U.S. to send money to friends and family in Nepal directly into the recipient's bank account or eSewa wallet.The account deposit service is available in more than 65 banks in Nepal. With more than 4.2 million registered eSewa wallet users, the addition of remittance service to eSewa wallet will provide a boost in remittance inflow to Nepal.Remittances to Nepal constitute a major portion of the country's foreign exchange reserve, surpassing both the official development assistance and the total foreign direct investment. In 2019, Nepali migrant workers sent home $8.64 billion which constituted 25.4% of the country's GDP. Sending Large Amount of Money from the U.S. to NepalThe U.S. to Nepal money transfer corridor is a thriving one, with many money transfer operators competing for business. Here are the top 5 money transfer service providers from the U.S. to Nepal.XoomPayPal-owned Xoom, a leading digital money transfer provider is one of the fastest, secure and convenient ways to send money from the U.S. to Nepal. The Xoom mobile app or website allows users in the U.S. to send money in an instant to friends and family in Nepal using their U.S. bank account, debit card, or credit card. Xoom has partnered with major banks in Nepal - Everest Bank Ltd., Nabil Bank, Himalayan Bank, Nepal SBI Bank, and others offering instant bank deposits. The money can be transferred to a bank account or picked up from an agent location (from over 4000 cash pickup locations) in Nepal. The maximum transfer amount is $9,000 per transfer when using Xoom transfer. The transfer fee varies depending on the method. Bank transfers are usually free of cost. Fees for payments by card are percentage-based.Do keep in mind that a margin is added to the exchange rate when converting U.S. dollars (USD) into Nepalese rupees (NPR).Wise (formerly known as TransferWise)Wise (Ex-TransferWise) is a London-based financial technology company regulated by (Financial Conduct Authority) FCA in the UK. For online money transfers from the U.S. to Nepal, Wise is a secure, fast, and low-cost option. There are no hidden charges, no marked-up exchange rate. Wise gives you the interbank exchange rate for your transfers. You can pay by direct debit, bank transfer, debit card, or credit card. Bank debit or ACH is the cheapest followed by bank transfer. While payment via credit cards has more fees. Depending on the transfers, the money can be reached in one day or even within seconds. There are limits to how much you can send to Nepal. For larger transfers, Wise might ask you to provide your ID card. 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Muncha Money Money Transfer and ThamelRemit are popular ways of sending money.An individual with a U.S. bank account can transfer money to the recipient's bank account in Nepal. It takes about 48 hours to complete the transfer. It is licensed by Nepal Rastra Bank, so your money is safe and protected. It offers ACH transfer and can send up to $10,000 per transaction from the U.S. to Nepal. The first transaction is free for all customers.ThamelRemitThamelRemit is an online money transfer platform for sending money from the U.S. to Nepal. It is trusted by more than 50,000 Nepalese in the U.S.The platform is supported by Siddhartha Bank Ltd., one of the fast-emerging banks in Nepal, and is powered by MachNet.The transfer is carried out via ACH where money is directly debited in USD from your bank account in the U.S. and transferred to the recipient's bank account in Nepal in NPR. 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hands holding up payday sign
Everything You Need to Know About Paycard

How do you pay your employees? As an employer, paying your employees is an important part of your business. Direct deposit to your employee's bank account or issuing paper checks are two of the most common ways of compensating them. Gone are the days when employees used to get paid in cash.But what happens when some employees have no bank accounts? This is where paycards come in. Paycards for employees are an alternative option when the employees do not own a bank account, and the employers do not want to pay in hard cash.It is estimated that about 5.4% of U.S. households (approximately 7.1 million) were "unbanked" in 2019, according to the U.S. Federal Deposit Insurance Corporation (FDCI). An unbanked household means no one in the household had a checking or savings account at a bank or a credit union.For small businesses with employees with no bank accounts, paycards can be a convenient option as a payment option.Direct deposit and paycards both offer the benefit of a paperless payroll distribution process and allow the employer to electronically transfer funds conveniently. While direct deposit is the norm for many businesses, paycards are gaining popularity each year.There are pros and cons of using paycards, and in this blog, we will discuss if paycards are right for your business and employees.What is a Paycard?Paycard is a lot like a prepaid debit card as it is made of plastic and can be pre-loaded. In the case of a paycard, the money loaded comes from the employer in the form of an employee's pay. The card carries the issuer name such as MasterCard, Visa, or Discover.Are Paycards Good, and Who is it For?A pay card can be used to pay an employee who does not have a bank account. Paycard holders or employees can cash out from paycards at a bank, ATM, or other point-of-service locations.Employees can also pay bills over the phone using their paycard number or authorize electronic bill payments to specified companies.Employees can use paycards at any merchant, grocery store, retail shop, or gas station that accepts debit cards.Do Paycards Have Fees?By law, employees must be able to access their wages in full without any fees. They can obtain the cash at a bank teller, ATMs associated with the card issuer, pay bills by telephone, or use the card for point-of-sale purchases.However, there may be fees for electronic fund transfers or for cash withdrawals at ATMs that are not in the issuer's network. 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You may have to pay a fee for the replacement card.Pros and Cons of PaycardsProsA win-win situation for unbanked employees and their employers.Green alternative to paper checks.Immediate payment to employees.No hassle of cashing a paycheck.No monthly or maintenance fees.Added security when assessing their funds (paycards require a PIN).Employees can report to the issuer if funds are used unauthorized.Paycards can be reloaded during each payday, saving money on issuing paper checks.Added efficiency for the employer as the employer would not have to physically present or mail paychecks to unbanked employees.ConsEmployees may incur fees for several reasons. 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Access mobile appNo credit checkCan be used at ATMs, merchants worldwide, wherever Debit Mastercard or Visa debit cards are acceptedPay bills and make purchasesBook airline and hotel reservations onlineEarn interest on savings accountGet cash back rewardsFDIC insuredMoney protected with Zero Fraud LiabilityKittrell PaycardNo fees to use (there are fees for certain situations)Fee-free ATM network with MoneyPassWebsite and Kittreall AppGet real-time alerts and push notificationsCash back at point-of-sale terminals2-way texting to manage your card and accountCompatible with Apple Wallet, Google Pay, Samsung PayEasy portability (Get direct deposit of stimulus checks, tax refund, benefits)Freeze or unfreeze card on-demandSkylight PaycardZero sign up feeNo credit checkNo minimum balance Personalized your card with a family photo or unique imageManage money anywhere on Mobile AppDirect deposit your government benefits, tax refundsUse anywhere where Visa Debit & Debit Mastercard are acceptedFDIC insuredZero liability protectionPay bills onlineEarn interest on savings accountEarn cash back with Payback RewardsSend money to or receive money from friends and family with Netspend cardsSet text alerts about transactionsRefer a friend and boost your card balanceSkylight overdraft limit is $100 & 3 times/ monthConclusionOverall, paycards can be convenient and cost-effective for employees and employees when compared to paychecks or for those employees with no bank account. 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NRE Account Guidelines: Avoiding the Enforcement Directorate

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