WorldRemit and Ria offer convenient international money transfers to more than 140 countries. Both support a variety of payment and transfer methods. But which company is the best choice for your next overseas transfer depends on where and how you’re sending money.
The fees and rates used in this comparison are accurate as of Feb 7, 2019.
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Quick verdict
Which has lower fees?
WorldRemit
WorldRemit charges a flat transaction fee on all transfers. However, the fee amount varies depending on the size of your transaction, where you’re sending the funds and the type of transfer you select. Bank transfers with WorldRemit commonly attract a fee of $3.99, but the total cost of a transaction really depends on the specifics of your transfer. The good news is that you can easily calculate the cost of your transfer by visiting the WorldRemit website.
For example, let’s say you want to send a $500 cash pickup transfer to two locations:
- To Sri Lanka. $12.99
- To Kenya. $11.99
Ria
Like WorldRemit, Ria also offers an easily accessible online tool to help you calculate the cost of your transaction. Ria’s fees vary depending on your payment method, where you’re sending money and how your recipient will access the funds. As you’d expect, credit and debit card transfers attract higher fees than bank transfers.
Using the same example, let’s look at the cost of sending a $500 cash pickup transfer:
- To Sri Lanka. $3 ($5 if you pay by card)
- To Kenya. $15 ($18 if you pay by card)
Winner: Tie
It’s too hard to split WorldRemit and Ria based on transfer fees. While one service will come out ahead for one particular transfer, using a different payment method or sending to a different destination could mean cheaper fees from the other provider.
The most important thing to remember is to compare quotes from both services for the exact transfer you want to send — you’ll then be able to check the fees and exchange rates to work out which offers better value.
Which offers better exchange rates?
WorldRemit
WorldRemit adds a margin on top of the mid-market rate. The size of the margin varies from one currency to the next but is generally around 1–2%. For example, we compared the margin offered on transfers to five destinations:
- Australia. Mid-market rate: 1 USD = 1.39362 AUD. WorldRemit rate: 1 USD = 1.37455 AUD.
- France. Mid-market rate: 1 USD = 0.87987 EUR. WorldRemit rate: 1 USD = 0.86358 EUR.
- United Kingdom. Mid-market rate: 1 USD = 0.764676 GBP. WorldRemit rate: 1 USD = 0.74623 GBP.
- India. Mid-market rate: 1 USD = 70.9853 INR. WorldRemit rate: 1 USD = 70.36218 INR.
- The Philippines. Mid-market rate: 1 USD = 51.9271 PHP. WorldRemit rate: 1 USD = 50.70354 PHP.
Ria
Ria also adds a margin on top of the mid-market exchange rate, but we found that this varied from less than 1% up to around 4% depending on the currency selected. For example:
- Australia. Mid-market rate: 1 USD = 1.39362 AUD. Ria rate: 1 USD = 1.3678 AUD.
- France. Mid-market rate: 1 USD = 0.87987 EUR. Ria rate: 1 USD = 0.8676 EUR.
- United Kingdom. Mid-market rate: 1 USD = 0.764676 GBP. Ria rate: 1 USD = 0.7483 GBP.
- India. Mid-market rate: 1 USD = 70.9853 INR. Ria rate: 1 USD = 70.92 INR.
- The Philippines. Mid-market rate: 1 USD = 51.9271 PHP PHP. Ria rate: 1 USD = 51.0776 PHP.
Winner: Tie
While we found that WorldRemit offered better rates for major currencies like AUD, Ria came out ahead when sending to popular transfer destinations like India and the Philippines.
Once again, make sure you calculate the exchange rate each provider offers for your specific transfer to see which will net your recipient more money.
Let’s crunch the numbers: Sending $500 to the UK
To give you a better idea of how WorldRemit and Ria compare, let’s take a look at a hypothetical example: sending a $500 bank transfer to the UK.
| WorldRemit | Ria | |
|---|---|---|
| Transfer fee | $2.99 | $5 |
| Transaction cost | $503.99 | $515 |
| Exchange rate | 1 USD = 0.74623 GBP | 1 USD = 0.7483 GBP |
| Transfer speed | 1 working day | 24–48 hours |
| Total received (in GBP) | £373.12 | £374.15 |
As you can see, it’s nearly a dead tie in this scenario. While you’ll send £1.03 less with WorldRemit, you’ll also save $2.01 in transfer fees.
Which is faster?
WorldRemit
WorldRemit transfer times depend on where you send your money and how your recipient will access those funds. Transfer times are as follows:
- Bank transfer: Instant transfers to selected banks, 1–3 working days in other cases.
- Cash pickup: Available to collect instantly.
- Mobile money: Instant or near-instant.
- Airtime top-up: Instant or near-instant.
- Home delivery: 24 hours to 7 days.
Ria
Delivery times with Ria vary based on how you pay for your transfer and how it’s received. Transfers paid for with your credit or debit card typically reach your recipient within 15 minutes, while transfers from your bank account take 24–48 banking hours. Cash pickup transfers and home deliveries are usually available on the same day.
Winner: WorldRemit
WorldRemit’s wide range of instant or near-instant transfer options sees it edge ahead in this category.
WorldRemit vs. Ria: How they work
| Provider | Payment methods | Minimum and maximum transfers | Delivery methods | Transfer speeds | Countries and currencies |
|---|---|---|---|---|---|
| WorldRemit |
|
|
| Within minutes | 145+ countries |
| Ria |
|
|
| Within minutes | 149 countries |
WorldRemit
WorldRemit is an online transfer service that allows you to send funds overseas within minutes. You’ll need to sign up for an online account to get started, then specify how much money you want to send, in which currency and where to. Supported payment methods are bank account transfer, credit/debit card, Android Pay and Apple Pay, while you have the option to send five types of transfers.
Ria
There are two ways to send a transfer with Ria: in-store at one of its agent locations or online. Once you’ve created an account, you can set up a transfer by selecting the country you want to send to and the amount you want to send, as well as providing your recipient’s details. You can pay for your transaction via bank transfer, credit/debit card or cash, while your beneficiary will receive the funds via your choice of bank transfer, cash pickup or home delivery.
Bottom line
Generally speaking, it’s pretty hard to split WorldRemit and Ria. However, exchange rates and transaction fees with the two providers can vary markedly depending on payment and payout methods as well as the currency you’re sending. With this in mind, it’s worth getting quotes from each service for the exact transfer you want to send.
Of course, you should also compare a wide range of international money transfer services alongside WorldRemit and Ria to find one that’s right for your needs.
Looking for more options?
Our table lets you compare the services you can use to send money abroad. Compare services on transfer speeds and fees, then click Go to site when you're ready to send.
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