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
WorldRemit

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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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). 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