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WorldRemit vs. TransferWise

Don't overpay for your international money transfer.

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We compare two top digital money specialists to help you narrow down which offers better rates, lower fees and more flexible transfers for sending cash worldwide.

Established in 2011, TransferWise uses the mid-market rate to send transfers of up to $199,999.

Compare WorldRemit to TransferWise

Min. Transfer Amount Transfer Speed Online Transfer Fee Rate Amount Received Description CTA Details
$1 Within an hour USD 3.99 0.84 EUR 4,196 Use promo code 3FREE to send your first 3 transfers with no fee. Send to 110+ countries for bank-to-bank deposit, cash pickup or mobile top-up. Go to site Show details
$1 1 - 2 days USD 40.00 0.843 EUR
4,183
Enjoy high maximum transfers into more than 20 currencies while saving up to 90% over local banks. Go to site Show details

Compare up to 4 providers

WorldRemit and TransferWise: How they work

Sign up for a WorldRemit account with your mobile number and government-issued ID.Indicate where your recipient lives, your state of residency and how you’d like to send your transfer — a bank-to-bank transfer, mobile money or cash pickup at one of WorldRemit’s 30,000 agents worldwide.

Agree to the fees and transfer amount, then enter your recipient’s contact info to complete your transfer. You’ll receive text confirmation, and WorldRemit converts your money and delivers it to your recipient.

WorldRemit emails you and your recipient when it’s both sent and received.

Read review: WorldRemit

Create a TransferWise account or sign in with your Google+, Facebook or PayPal account.Indicate how much you want to transfer and your recipient’s details, then transfer the money to TransferWise. Once TransferWise receives your money, it converts the currency and sends it to your recipient’s bank account.

You and the recipient are notified when the transfer is complete.

Read review: TransferWise

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Who offers lower fees?

WorldRemit

WorldRemit’s transfer fees vary, but the fee for most countries is $3.99. Fees depend on your transfer destination and how you’re paying.

TransferWise

TransferWise charges a fee equal to a percentage of your transfer, though the exact figure depends on the currencies you’re exchanging. You may also pay an additional transaction fee.

The typical fees for most transfers are:

  • $3 fee for transfers of up to $300
  • 1% of the transfer amount up to $5,000
  • 0.7% on any transfer of $5,000 or more

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Winner: WorldRemit

Costs for both companies come down to where you’re sending money. But WorldRemit offers a more transparent structure, charging a flat $3.99 for most transfers — cheaper than TransferWise overall.

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Who offers better exchange rates?

WorldRemit

WorldRemit’s respectable margins are sometimes less than 1% above the mid-market rate, depending on your transfer.

TransferWise

TransferWise exchanges currency at the mid-market rate, offering to lock in your rate for 24 hours.

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Winner: TransferWise

Even given WorldRemit’s tight markups, it’s hard to beat the mid-market rate.

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Who’s faster?

WorldRemit

Bank transfers can take up to three days for delivery, although select banks offer instant transfers. Mobile Money is available immediately.

TransferWise

It can take up to two days for TransferWise to receive and convert your money, and another few days for delivery to your recipient. That two-step process can result in up to six days for delivery.

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Winner: WorldRemit

WorldRemit’s Mobile Money option can get it there up to six days faster than TransferWise. Even its slower option could save you a few days.

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Who offers more options?

Payment MethodsMinimum and maximum transfersDelivery methodsTransfer speedsCountries and currencies
WorldRemitBank account, credit or debit card, select digital wallets$1 minimum; maximum varies by countryBank transfer, cash pickup, Mobile Money, airtime top-upMinutes to 3 days145+ countries to send to, 50+ countries to send from
TransferWiseBank transfers, credit or debit card, select digital wallets$1 minimum; $50,000 maximumBank transfer1 to 6 business days50+ countries
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Case Study: Send $100, $1,000 and $10,000 to Mexico

Say you’re looking to transfer to your cousin in Mexico City. Here’s how WorldRemit and TransferWise compare at different transfer amounts.

$100: WorldRemit by a nose

WorldRemitTransferWise
Transfer fee$2.99$2.09
Exchange rate1 USD = 19.02406 MXN1 USD = 19.30750 MXN
Transfer speedSame day1–2 days
Total received1,902.41 pesos1,890.40 pesos

It’s just about even across the two services. Though WorldRemit gets a few more pesos there faster.

$1,000: WorldRemit — again by a slim margin

WorldRemitTransferWise
Transfer fee$2.99$9.68
Exchange rate1 USD = 19.02406 MXN1 USD = 19.30750 MXN
Transfer speedWithin an hour1–2 days
Total received19,124.06 pesos19,120.60 pesos

Accounting for fees and exchange rates, WorldRemit narrowly wins on cost and speed.

$10,000: TransferWise — on a technicality

WorldRemitTransferWise
Transfer fee$85.63
Exchange rate1 USD = 19.30750 MXN
Transfer speed1–2 days
Total received191,421.70 pesos

WorldRemit’s maximum transfers to Mexico top out at about $3,000, leaving TransferWise your only choice.

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Winner: TransferWise

The two digital specialists are about even for smaller amounts. But TransferWise’s higher limits give it an edge for those looking to send large amounts to Mexico — a major recipient of remittances from the States.

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Compare to other services?

Min. Transfer Amount Transfer Speed Online Transfer Fee Rate Amount Received Description CTA Details
$8 1 - 2 days USD 5.00 0.835 EUR 4,170 Exchange money on your terms. Show details
GBP 1,000 1 - 2 days USD 0.00 0.835 EUR 4,175 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
$1 Same day USD 0.00 0.84 EUR 4,198 XE offers fast transfers with no fees and a range of foreign currency tools. Go to site Show details
$0 1 - 2 days USD 1.99 0.826 EUR 4,131 Special offers like free transfers and better exchange rates available for new customers.
Quick, affordable transfers around the world with both express and economy options.
Go to site Show details
$1 1 - 2 days USD 40.00 0.843 EUR
4,183
Enjoy high maximum transfers into more than 20 currencies while saving up to 90% over local banks. Go to site Show details
$1 Within an hour USD 3.99 0.84 EUR 4,196 Use promo code 3FREE to send your first 3 transfers with no fee. Send to 110+ countries for bank-to-bank deposit, cash pickup or mobile top-up. Go to site Show details

Compare up to 4 providers

Discounts

WorldRemit Deals WorldRemit Deals
Exclusive

WorldRemit: First Transfer FREE

You first transfer is free with WorldRemit when you use this coupon code. Send or pick up cash in the US or around the world.

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Bottom line

WorldRemit can get your money around the world at low fees and stronger rates than you find with other banks and even many online providers. TransferWise guarantees that you’ll get the mid-market rate — the rate banks use to trade among themselves — but a complicated fee structure can eat into your savings, depending on how much you’re sending.

No matter your needs, compare international money transfer specialists to find the cheapest fees and strongest rates you’re eligible for.

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