Review: WorldRemit international money transfers November 2019

Send money from the Philippines to 140+ destinations 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.

PHP 1

Min. Transfer Amount

PHP 500,000

Max. Transfer Amount

1 - 2 days

Transfer Speed

Details

Product NameWorldRemit International Money Transfers
Min. Transfer AmountPHP 1
Max. Transfer AmountPHP 500,000
Transfer MethodsOnline, Bank Account to Bank Account, Cash Transfer
Transfer OptionsOne off payments
Transfer Speed
Minimum transfer time
1 - 2 days
Customer ServicePhone, Email
Available CurrenciesAED, ALL, AMD, ANG, AOA, ARS, AUD, BAM, BBD, BDT, BGN, BHD, BIF, BOB, BRL, BWP, CAD, CDF, CLP, CNY, COP, CRC, CVE, CZK, DKK, DOP, EGP, ETB, EUR, FJD, GBP, GEL, GHS, GMD, GNF, GTQ, HKD, HRK, HTG, HUF, IDR, ILS, INR, JMD, JOD, KES, KGS, KHR, KMF, KRW, KWD, KZT, LAK, LBP, LKR, LRD, LSL, MAD, MDL, MGA, MVR, MWK, MXN, MYR, MZN, NGN, NOK, NPR, NZD, OMR, PAB, PEN, PHP, PKR, PLN, PYG, QAR, RON, RUB, RWF, SCR, SEK, SGD, SLL, SRD, THB, TJS, TND, TOP, TRY, TZS, UGX, USD, VND, WST, XAF, XCD, XOF, ZAR, ZMW
Exchange Rate UpdatesDaily

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.

Min. Transfer Amount Transfer Speed Online Transfer Fee Rate Amount Received Description CTA Details
PHP 1 1 - 2 days PHP 0.00 0.02 USD
20
WorldRemit Philippines lets you use your debit, credit or pre-paid card to send instant mobile airtime top-ups. Go to site Show details

Compare up to 4 providers

The “Rate” and “Amount Received” displayed are indicative rates that have been supplied by each brand or gathered by Finder.

Exchange rates are volatile and change often. As a result, the exchange rate listed on Finder may vary to the actual exchange rate quoted for the brand. Please confirm the actual exchange rate and mention “Finder” before you commit to a brand.

Available currencies

WorldRemit sends money to over 140 countries worldwide, although the transfer types vary depending on the country. There are countries who do not appear on the list at all, including: Afghanistan, Iran, Iraq, Kuwait, North Korea, Syria, and Belize. 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
  • USD US dollar
  • LBP Lebanese pound
  • EUR Euro
  • LKR Sri Lankan rupee
  • THB Thai baht

What types of transfers can you make with WorldRemit from the Philippines?

At this time, WorldRemit offers airtime top up when sending from the Philippines.

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. If you choose home delivery as your delivery method, it can take from between 24 hours and seven days, depending on your location. 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

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 22,000 reviews*
  • Investors: Accel, TCV, LeapFrog
*According to WorldRemit and Trustpilot on 23 October 2018.

WorldRemit is regulated in the Philippines by the Bangko Sentral ng Pilipinas (BSP), which regulates finance companies.

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 AUD = 36.99 PHP for a money transfer to the Philippines, while the rate you can see on Google is 1 AUD = 38.12 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.

Back to top

What payment methods does WorldRemit accept?

You can pay for your transfer with WorldRemit through a debit, credit, or pre-paid card issued by Visa or Mastercard. If you’re sending through debit or credit card, you can’t send more than the equivalent of US$5,000 at a time. At this time, WorldRemit does not accept cards from Amex, Diner’s, or Union Pay.

How do I verify my identity for money transfers from the Philippines?

You will need to submit valid IDs, issued by Philippine authorities, such as:

  • Current passport
  • Driving license
  • Residence permit
  • Photo ID

If WorldRemit needs to verify your address, you can send any of the following:

  • Utility bill
  • Bank statement
  • Any valid photo ID that indicates your address

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 debit, credit, or pre-paid cards. Your recipient can also receive the money in a number of ways.

Cons

  • Limited services. At this time, WorldRemit only offers airtime top up when sending money from the Philippines.
  • Limited maximum transfer. You can’t send more than the equivalent of US$5,000 at a time if you’re using card or Apple/Android Pay.
  • No live-chat. If you have questions, you’ll either need to call or fill out an online form.
Back to top

How does WorldRemit compare to other providers?

Our table below shows you the fees and exchange rates you can expect from other money transfer specialists. Compare WorldRemit to the other providers below to see if it’s the best option for you.

Min. Transfer Amount Transfer Speed Online Transfer Fee Rate Amount Received Description CTA Details
PHP 1 1 - 2 days PHP 0.00 0.02 USD
98
WorldRemit Philippines lets you use your debit, credit or pre-paid card to send instant mobile airtime top-ups. Go to site Show details

Compare up to 4 providers

The “Rate” and “Amount Received” displayed are indicative rates that have been supplied by each brand or gathered by Finder.

Exchange rates are volatile and change often. As a result, the exchange rate listed on Finder may vary to the actual exchange rate quoted for the brand. Please confirm the actual exchange rate and mention “Finder” before you commit to a brand.

Frequently asked questions

Back to top

Ask an expert

You are about to post a question on finder.com:

  • Do not enter personal information (eg. surname, phone number, bank details) as your question will be made public
  • finder.com is a financial comparison and information service, not a bank or product provider
  • We cannot provide you with personal advice or recommendations
  • Your answer might already be waiting – check previous questions below to see if yours has already been asked

Finder only provides general advice and factual information, so consider your own circumstances, or seek advice before you decide to act on our content. By submitting a question, you're accepting our Terms and Privacy Policy.
Go to site