WorldRemit vs. Chase Bank: Who wins with cheapest rates? | finder.com
WorldRemit vs Chase

WorldRemit vs. Chase Bank

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We compare a newer digital provider with a big-name bank to help you learn who’s best for your next transfer overseas.

You’ve certainly heard of Chase Bank, a household name in the banking world. But online companies like WorldRemit are establishing a name for themselves, offering strong exchange rates, low fees and unique benefits to help you save when sending money overseas.

worldremit chase bank
Fees $3.99 (most countries) $40-$45
Exchange rates Less than 1% above the mid-market rate Up to 6% above the mid-market rate
Speed 3 business days Up to a week
Max Transfer Amount Maximum varies by country and method of payment Varies depending on bank account
Read Review Read Review
	

WorldRemit and Chase Bank: How they work

WorldRemit and Chase Bank both offer ways to transfer your money online.

WorldRemit

With WorldRemit, go to its site, enter how much money you’ll be transferring and then send your funds to WorldRemit. When creating your transfer, you provide a mobile number for both yourself and your recipient, as well as a copy of your personal ID. Once approved, WorldRemit converts your currency and sends it to your recipient, who collects it via bank transfer, cash pickup or Mobile Money.

Read Review: WorldRemit

Chase Bank

To send money with Chase, you need to first open a Chase checking account. Once you’re approved and you’ve deposited money in the account, you can begin transferring money online by logging into your account. To initiate a wire transfer, add the wire recipient to your account, providing their name and banking information. Then review the details of your transfers and confirm to send your funds.

Read Review: Chase Bank

Who offers lower fees?

WorldRemit

Transfer fees for WorldRemit can vary slightly depending on where you’re sending money, but the fee for most countries is $3.99. The method you use to send money will depend on the country to which you’re sending.

Chase Bank

When sending an international wire transfer online, Chase charges an outgoing transfer fee of $40. If you visit a branch to initiate a wire transfer, you’ll pay $45.

Trophy icon
Winner: WorldRemit

Even WorldRemit’s highest transfer fees will beat Chase Bank’s steep $40 (or more) wire fee.

Compare other transfer services

I want to send

to

Min. Transfer Amount Transfer Speed Online Transfer Fee Rate Amount Received Description CTA Details
USD 0 3 - 5 days USD 0.00 18.86 MXN 94,301 Transfer up to $500,000 with no minimums and no fees. Go to site Show details
USD 1 1 - 2 days USD 7.00 18.917 MXN
94,455
Enjoy high maximum transfers into more than 20 currencies while saving up to 90% over local banks. Go to site Show details
USD 1 Within an hour USD 3.99 18.879 MXN 94,321 Use promo code FINDER to send your first transfer with no fee.
Send to 110+ countries for bank-to-bank deposit, cash pickup or mobile top-up.
Go to site Show details
USD 1,000 1 day USD 0.00 18.841 MXN 94,206 Exclusive exchange rate discounts
No-maximum limit transfers with competitive exchange rates for 100+ currencies.
Go to site Show details
GBP 1,000 1 - 2 days USD 0.00 18.86 MXN 94,301 Exclusive: Minimum transfer of $1,000 for Finder readers (normally $5,000).
For larger transfers, get no transaction fees and no maximum send limits.
Go to site Show details
USD 50 1 - 2 days USD 25.00 18.879 MXN 93,925 Simple, zero-margin exchange rates, plus earn loyalty points on sign up, referral and every transaction. Go to site Show details

Compare up to 4 providers

Who offers better exchange rates?

To understand who offers better exchange rates, you’ll need to first look at the mid-market rate. This is the true exchange rate that averages the buying and selling rate of a global currency — and the rate banks and transfer services use when they trade among themselves.

We’ll look at the rates that WorldRemit and Chase Bank offer compared to the mid-market rate.

WorldRemit

WorldRemit takes a smaller margin — sometimes less than 1% above the mid-market rate.

We’ll use the same example of a transfer to euros (EUR):

  • If the mid-market rate is 1 USD = 0.96 EUR
  • WorldRemit’s exchange rate might be 1 USD = 0.92 EUR

Chase Bank

Depending on the country you’re sending money to, a typical exchange rate at Chase could be up to 6% above the mid-market rate. If you’re sending a large amount overseas, this means hundreds of dollars go straight to Chase.

We’ll use the example of a transfer to euros (EUR):

  • If the mid-market rate is 1 USD = 0.96 EUR
  • Chase’s exchange rate might be 1 USD = 0.88 EUR

Trophy icon
Winner: WorldRemit

Competitive exchange rates make WorldRemit the clear winner. Send $500 to France with WorldRemit instead of Chase Bank gives your recipient nearly 20 more euros toward all-important wine.

Who’s faster?

WorldRemit

Sending money via bank transfer typically takes one to three business days to most banks, although a few banks offer instant transfers. Sending cash via Mobile Money or airtime top-up are available immediately.

Chase Bank

Delivery speed varies by transfer amount and whether your recipient is a Chase customer. In general, you can expect to wait up to a week for your recipient to get the funds.

Trophy icon
Winner: WorldRemit

Delivery speeds with WorldRemit will generally get your money where it needs to go faster than your typical transfer with Chase.

Who offers more options?

Payment Methods Minimum and maximum transfers Delivery methods Transfer speeds Countries and currencies
WorldRemit Bank account,credit or debit card $1 minimum; maximum varies by country and method of payment Bank transfer,cash pickup,Mobile Money,airtime top-up Varies from minutes to 3 days 100+ countries
Chase Bank Bank account Varies depending on bank account Bank transfer Varies from 4 to 7+ days 200+ countries

Case Study : $1,000 to France

Say you want to send $1,000 to your best friend in France. Here’s what an online bank-to-bank transfer would like with WorldRemit and Chase Bank.

WorldRemit Chase Bank
Transfer fee $3.99 $40
Exchange rate 1 USD = 0.92 EUR 1 USD = 0.88 EUR
Transfer speed 3 business days 4–7 business days
Total received 920 EUR 888 EUR

With WorldRemit, you save $35 on the transfer fee alone (though you can save even more with our exclusive $0 transfer fee), and your friend gets more than 30 extra euros over Chase Bank’s exchange rates.

Bottom line

While Chase is a safe, reliable way to send money overseas, you’ll pay a sizable transfer fee to get your funds to your recipient. If low fees and competitive exchange rates are top priorities, WorldRemit is the clear choice.

Of course, it can be helpful to compare your options to find the service that best fits your individual needs.

Frequently asked questions

Aliyyah Camp

Aliyyah Camp is a publisher helping folks compare personal, student, car and business loans. Prior to joining Finder, she ran her own personal finance blog and wrote for numerous finance sites. Aliyyah earned a BA in communication from the University of Pennsylvania. She regularly attends industry conferences to stay in the know about market changes that can affect consumers. When she's not helping people with their personal finances, you can find her at the movies or going for a run outdoors.

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US International Money Transfers Offers

Important Information*
XE Money Transfer

Transfer up to $500,000 with no minimums and no fees.

WorldRemit International Money Transfers

Use promo code FINDER to send your first transfer with no fee.
Send to 110+ countries for bank-to-bank deposit, cash pickup or mobile top-up.

TransferWise

Enjoy high maximum transfers into more than 20 currencies while saving up to 90% over local banks.

CurrencyTransfer

Exclusive: Minimum transfer of $1,000 for Finder readers (normally $5,000).
For larger transfers, get no transaction fees and no maximum send limits.

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US International Money Transfers Offers

Important Information*
XE Money Transfer

Transfer up to $500,000 with no minimums and no fees.

WorldRemit International Money Transfers

Use promo code FINDER to send your first transfer with no fee.
Send to 110+ countries for bank-to-bank deposit, cash pickup or mobile top-up.

TransferWise

Enjoy high maximum transfers into more than 20 currencies while saving up to 90% over local banks.

CurrencyTransfer

Exclusive: Minimum transfer of $1,000 for Finder readers (normally $5,000).
For larger transfers, get no transaction fees and no maximum send limits.

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