Not available in the US
OrbitRemit is not available for transfers from the United States. Compare similar services for your international money transfer.
Low fees and competitive exchange rates, but watch out for lack of transparency
Once you place your transfer order, you will be shown the rate for your transaction. You can continue with the transfer by making a payment or you can cancel the order.
Orbit Remit claims to be able to offer low fees and competitive rates by operating with lower overhead costs than banks and other money transfer companies. Those savings are reflected in the amount that they charge their customers.
How much does it cost to transfer money with OrbitRemit?
Consider the fees before choosing a money transfer service for your international needs. Orbit Remit will charge the same fee for transfers from $60 to $9,900 but they will vary depending on the destination.
Fees vary depending on where you’re sending money from and where the transfer is going to. How much you send will make no difference in the fees charged unless you are sending money to China.
For example, if you’re sending from Australia, fees range from $0 to $10 AUD.
Minimum transfer amount and available countries
Orbit Remit is able to transfer money to over 12 different countries. Keep in mind that you are limited to online transfers only, so there will be no cash pick up with this service except in China, Vietnam and the Philippines.
There is a transfer minimum of $50 and a maximum of $9,900.
There are a number of countries where you will not be allowed to send money using this service.
- North Korea
- El Salvador
- South Africa
What types of transfers can you send with OrbitRemit?
In addition to international transfers, Orbit Remit also can help you make recurring payments to another country. These include repayments of home loans, car payments and other bank loans. Once you have this set up, the funds will be sent to the payment account each month automatically.
Another perk with Orbit Remit is that there is no fee for the first time you use them, or for every tenth. If you are sending money overseas often, having fees waived can add up.
The registration and transfer process
In order to use Orbit Remit, you will have to first set up an account with them online. Enter your contact information to become a member, and then you will be able to log in and transfer money.
You will not be able to make payments using a credit or debit card. The only way Orbit Remit accepts payment is with an internet banking transfer. Once Orbit Remit receives your transfer through internet banking, the transaction will begin. Your recipient should receive the money in their account within two days.
What are the pros and cons of using OrbitRemit?
- Convenient. With your account set up online, you can easily send money worldwide.
- Fees. Not only are the fees set for each currency, the fee is waived on your first transaction and every tenth thereafter.
- Customer service. Orbit Remit offers 24 hour service 7 days a week for helping you resolve any issues.
- Competitive rates. Due to having their entire operation online, Orbit Remit is able to offer exchange rates that are competitive with other companies.
- Bank transfers only. Having to transfer funds to Orbit Remit as opposed to using a credit card or debit card can take longer.
- No cash pick up. With the exception of a few select countries, there is no cash pick up option available.
What other products and services does OrbitRemit offer?
In addition to international transfers, Orbit Remit has services in place that can help you make payments directly. These include:
- Inland Revenue Department (IRD) Payments. You can make your IRD payments to New Zealand in just a few minutes right from your account. There is no fee for this service and you only need to share your IRD information. Once you make the payment to Orbit Remit, the funds will be sent to your IRD account.
- Court payments. For New Zealanders in Australia who have outstanding court fines, Orbit Remit will help you pay those quickly. All they need is your Party Profile Number (PPN) and your payment and they will transfer the money to the Ministry of Justice.
OrbitRemit is a simple money transfer service that does not offer an exhaustive list of options, but does have competitive rates and fees and a convenient online process.
Check other companies and banks that allow you to send money to your preferred country first and compare transfer services before deciding this if is the right one for you.