Review: WorldRemit international money transfers January 2020
Min. Transfer Amount
Max. Transfer Amount
1 - 2 days
|Product Name||WorldRemit International Money Transfers|
|Min. Transfer Amount||PHP 1|
|Max. Transfer Amount||PHP 500,000|
|Transfer Methods||Online, Bank Account to Bank Account, Cash Transfer|
|Transfer Options||One off payments|
Minimum transfer time
|1 - 2 days|
|Customer Service||Phone, Email|
|Available Currencies||AED, 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 Updates||Daily|
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.
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 take
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
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.
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
- 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.
- 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.
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.