Review: WorldRemit international money transfers January 2020
Min. Transfer Amount
Max. Transfer Amount
|Product Name||WorldRemit International Money Transfers|
|Min. Transfer Amount||GBP 50|
|Max. Transfer Amount||GBP 30,000|
Minimum transfer time
|Customer Service||Chat, Email|
|Available Currencies||AED, ALL, AMD, AOA, ARS, AUD, BAM, BBD, BDT, BGN, BHD, BIF, BOB, BRL, BWP, BYN, CAD, CHF, CLP, CNY, COP, CRC, CVE, CZK, DKK, DOP, EGP, ETB, EUR, FJD, GBP, GEL, GHS, GMD, GNF, GTQ, HKD, HNL, HRK, HTG, HUF, IDR, ILS, INR, ISK, JMD, JOD, JPY, KES, KGS, KHR, KMF, KRW, KWD, KYD, LAK, LBP, LKR, LRD, LSL, MAD, MDL, MGA, MRO, MUR, MVR, MWK, MXN, MYR, MZN, NAD, NGN, NIO, NOK, NPR, NZD, OMR, PEN, PHP, PKR, PLN, PYG, QAR, RON, RUB, RWF, SCR, SEK, SGD, SLL, SOS, SRD, THB, TJS, TND, TOP, TRY, TZS, UAH, UGX, USD, UYU, VND, WST, XAF, XCD, XOF, ZAR, ZMW|
|Online Transfer Fee||GBP 3.99|
What's in this guide?
- WorldRemit exchange rates and fees
- Available currencies
- What types of transfers can you make with WorldRemit?
- How long does a transfer with WorldRemit take?
- What payment methods does WorldRemit accept?
- Is WorldRemit safe to use?
- How does WorldRemit make money?
- How to create a WorldRemit account and send your first transfer
- What is WorldRemit’s background?
- In a nutshell
- How does WorldRemit compare to other providers?
- Frequently asked questions
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. You can check out the full list of currencies here, but the following are some of the more popular ones that WorldRemit lets you send to:
- INR Indian rupee
- VND Vietnamese dong
- USD US dollar
- 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:
- Mobile wallet. You can send money 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 BIC or SWIFT code as well.
- 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.
- Door-to-door delivery. Instead of picking up the cash at a fixed location, this option means your cash is delivered physically to your recipient’s home. At the time of writing, this delivery service is only available in Vietnam.
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 7 days, depending on your location. With a bank transfer, it depends on which banks are involved – instant transfers are an option for a selected group of banks.
Transfers typically take
What payment methods does WorldRemit accept?
You can pay for your transfer with WorldRemit through a bank transfer or card. If you’re using a debit or credit card, you can’t send more than £8,000 at a time. You can also pay via Apple or Android Pay, but the same limit per transaction applies.
Is WorldRemit safe to use?
- Security and regulation: Government regulated, can enable 2-factor authentication
- Established: 2010
- Number of customers: Over 4 million*
- Reviews: Trustpilot gives WorldRemit a score of 4.6 out of 5, based on over 33,800 reviews*
- Investors: Accel, TCV and LeapFrog
WorldRemit is regulated in the UK by the Financial Conduct Authority (FCA). This 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 that 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, but most are around the £3.99 mark.
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 GBP = 61.71 PHP for a money transfer to the Philippines, while the rate you can see on Google is 1 GBP = 63.03 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, you 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
- 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 Apple/Android Pay. Your recipient can also receive the money in a number of ways.
- Limited maximum transfer. You can’t send more than £8,000 at a time if you’re using your 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.[/fin_hide]