Review: WorldRemit international money transfers March 2020

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Send money overseas with WorldRemit's range of options, including to a mobile or cash pick-up location.

  • Good for sending to those without a bank account in a wide range of countries.
  • Not so great for larger transfers, due to the low daily minimum.

Learn more about:

WorldRemit exchange rates and fees

WorldRemit updates its rates daily to reflect changing market conditions and these rates generally compare favourably to the rates available from other providers and banks.

The fee you’ll be paying depends on the amount you send, where you send it and how your recipient will access the money.

Calculate how much sending money overseas would cost with WorldRemit by using our tool below. You can also check out the real-time exchange rate WorldRemit offers and if there are any additional fees.

Name Product Minimum Transfer Transfer Time Transfer Fee
WorldRemit - Ireland
EUR 1
Same day
Varies

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Available currencies

WorldRemit sends money to over 140 countries worldwide, although the transfer types vary depending on the country. You can check out the full list of currencies here, but some of the more popular ones that WorldRemit lets you send to are:

  • INR Indian rupee
  • VND Vietnamese dong
  • GBP British pound
  • PHP Philippine peso
  • LBP Lebanese pound
  • EUR Euro
  • LKR Sri Lankan rupee
  • THB Thai baht

What types of transfers can you make with WorldRemit?

Although it varies from country to country, WorldRemit offers a range of ways you can send money, including:

  • Mobile wallet. Send to your recipient’s smartphone wallet. This option is helpful if your recipient doesn’t have a bank account and isn’t near a cash pick-up location.
  • Cash pick-up. You can send money to a cash pick-up location for your recipient to collect. If you choose this option, the person picking it up will need valid photo ID on hand and the reference number.
  • Bank transfer. The money will be deposited directly in the bank account you choose. You’ll need to know their SWIFT code as well, which you can read more about here.
  • Airtime top-up. This is used when you want to send money directly to your recipient’s mobile to top up their pre-paid plan. Credit top-ups are often instant. Quite a few of WorldRemit’s countries only offer airtime top-up.

If you’re transferring money to Vietnam, your funds can be delivered to your recipient’s home. Depending on their location, this service takes between 24 hours and seven days for receipt.

How long does a transfer with WorldRemit take?

Generally speaking, most transfers with WorldRemit arrive almost instantly. Some kinds take longer, depending on how you’ve paid for it and what the transfer type is.

For example, if you pay by card, it may take longer while your card is authorised. With a bank transfer, it depends which banks are involved – instant transfers are an option for a selected group of banks.

Transfers typically takeClock icon for transfer speed

1 day

What payment methods does WorldRemit accept?

You can pay for your transfer with WorldRemit through a bank transfer or card. You can also pay via Apple or Android Pay, but the amount you can send will vary depending on your payment method.

Is WorldRemit safe to use?

  • Security and regulation: Government regulated, can enable 2-factor authentication
  • Established: 2010
  • Number of customers: Over 3 million*
  • Reviews: TrustPilot gives WorldRemit a score of 9.2 out of 10, based on over 26,000 reviews*
  • Investors: Accel, TCV, LeapFrog
*According to WorldRemit and Trustpilot on 24 April 2019.

WorldRemit is regulated in several countries, which means WorldRemit has to keep its clients’ money separate from its own funds, so you’re protected if WorldRemit runs into financial difficulties.

Two-factor authentication is a setting you can put on your account which requires two types of verification when logging in. This adds another layer of protection against anyone trying to hack into your account.

How does WorldRemit make money?

WorldRemit makes its money off both fees and the margin on exchange rates. The fee varies from currency to currency.

WorldRemit, like most other providers, also adds a margin onto the exchange rate. This is why the exchange rate you get quoted varies from company to company, and also from what you can see on Google or XE.

For example, a provider may quote you 1 EUR = 56.27 PHP for a money transfer to the Philippines, while the rate you can see on Google is 1 EUR = 58.16 PHP. This difference is the margin and it’s how providers cover their own fees.

How to create a WorldRemit account and send your first transfer

You can sign up with WorldRemit online and, as soon as you’re verified, can make transactions quickly and easily.

What is WorldRemit’s background?

WorldRemit was launched in 2010 by Somali migrant Ismail Ahmed while he was studying in London. It aims to be a low-cost alternative to services like MoneyGram and Western Union, with the whole transfer taking place online.

WorldRemit has a focus on mobile transfers and sends money to more than 145 countries. Its headquarters are in London, with other offices in Sydney, the US, Canada and New Zealand.

In a nutshell

Pros

  • Competitive fees. The fees are generally quite a lot less than what you’ll find at your bank.
  • Easy-to-use website and app. We were able to sign up and start a transfer in about five minutes.
  • No minimum transfer. With no minimum, WorldRemit is best suited to smaller transfers.
  • Flexible options. You can pay with a range of options including card, bank transfer or Android Pay. Your recipient can also receive the money in a number of ways.

Cons

  • Varied maximum transfer. The maximum amount you can send will depend on your payment method.
  • No live-chat. If you have questions, you’ll either need to call or fill out an online form.

Frequently asked questions

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