WorldRemit - Independent review

All you need to know before sending money with WorldRemit

Competitive fees and exchange rates Large pay-out network Very convenient mobile apps

7.60/10 Good
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WorldRemit review by Monito

WorldRemit is an online service allowing people around the world to send money to their friends and family abroad. The company was created in 2010 by Somali migrant Ismail Ahmed, who first recognized the opportunity to make money transfers cheaper and improve the experience of sending money while studying at university in London. WorldRemit’s service is currently available to senders in 50 countries, with money being delivered to bank accounts, as cash, to mobile wallets or as airtime in over 120 countries across the world.

WorldRemit is a low-cost alternative to traditional money transfer services, and the fact that you can transfer money anywhere and at any time using the WorldRemit website or mobile app makes it a highly convenient service. There’s no need to physically go to an agent location, line up and wait. Everything happens online, which means WorldRemit can save on costs and pass these savings on to its customers.

WorldRemit, which has been called “the WhatsApp of money”, is particularly strong on mobile platforms. On the sending side, WorldRemit allows customers to easily send money with their phone using their Android and iOS apps. On the receiving side, WorldRemit delivers money to mobile wallets - which it believes can foster financial inclusion within the unbanked populations - or as airtime topup for migrants to stay connected with their friends and family back home. In fact, a third of the transfers made with WorldRemit are received on mobile phones, and the company claims it is now the leading sender of remittances to mobile wallets worldwide.


PROS
  • A large number of payout countries and networks
  • Very strong on mobile (both send and receive)
  • Low-cost alternative to high-street money transfer companies for remittances
  • Convenient and easy to use
CONS
  • Not always the cheapest provider for transfers of large amounts or to bank accounts
  • For a few countries, only airtime top-up is available



Reviews powered by

13,022 customer reviews on WorldRemit on Trustpilot


22 hours ago
by Marc Driesen

5 stars

exellent fast service,trustable

exellent fast service,trustable, i recommend Worldremit for sending money at any time for whole the world

22 hours ago
by Varinder

5 stars

Perfect and fastest service

Perfect and fastest service

22 hours ago
by Mary

5 stars

Quite easy to use and cheaper fee.

Quite easy to use and cheaper fee.


More reviews

22 hours ago
by Tati

4 stars

Excellent Service

I've got great experience in terms of timing and understood customer needs.

22 hours ago
by Fritz

5 stars

easy to use and fast transaction.

easy to use and fast transaction.. very useful..

1 day ago
by RS

5 stars

Very fast!

Very fast and reliable!

1 day ago
by Olowo blowblow

5 stars

Excellent service

Excellent service

1 day ago
by Muazzam

5 stars

Absolutely brilliant app

Absolutely brilliant app. Made my life so easy. Super easy to use.

1 day ago
by Gyamfi

5 stars

Need is met promptly and accurately

Need is met promptly and accurately

1 day ago
by Ferdinand

5 stars

Fast money transfer

Fast money transfer

1 day ago
by Paula. Garcia

5 stars

I. Al Like You Service

A recommended to All my Friends and family The Good Service

1 day ago
by Zulfawu Yahya

5 stars

Transfer has always been smooth

Transfer has always been smooth

1 day ago
by Daisy =D

5 stars

Great service

Great service, fast and secure! Glad i trusted WorldRemit to send money to my family in the Philippines!

1 day ago
by Johann Pijl

5 stars

excellent and fast service

excellent and fast service

2 days ago
by GOLSIN

5 stars

User friendly

User friendly, quick and very efficient! I don't have any qualms recommending Worldremit to anyone!

2 days ago
by Ola knutsson

5 stars

Very good

Very good, fast och efficient and reliable

2 days ago
by Henrietta

5 stars

It's really fast and great.

It's really fast and great.

2 days ago
by Michel B.

5 stars

I have never seen a site so easy to …

I have never seen a site so easy to send money! The costs are much lower than those of a bank! I recommend.

2 days ago
by Akhtar Ayub

5 stars

Quick transfer

Quick transfer, amazing service I normally use to send money back home.

2 days ago
by Francis

4 stars

Very happy with the services of World …

Very happy with the services of World Remit.Will always recommend to anyone sending/receiving money world-wide

2 days ago
by NGEGBA

5 stars

I LIKE THE EFFICIENT SERVICES YOU …

I LIKE THE EFFICIENT SERVICES YOU RENDER TO YOUR CUSTOMERS. I HAVE NO PROBLEMS IN SENDING MONEY WITH YOU. I AM THE DEPUTY HIGH COMMISSIOPNER 0F SIERRA...Read more

I LIKE THE EFFICIENT SERVICES YOU RENDER TO YOUR CUSTOMERS. I HAVE NO PROBLEMS IN SENDING MONEY WITH YOU. I AM THE DEPUTY HIGH COMMISSIOPNER 0F SIERRA LEONE TO THE UK AND FOR THIS SHORT PERIOD I HAVE BEEN DEALING WITH YOU, I AM TOTALLY SATISFIED FOR SUCH AN EXCELLENT SERVICE.

2 days ago
by Mark keelson

5 stars

Very easy and convenient

Very easy and convenient

2 days ago
by Promise Tewogbola

1 stars

Worldremit are scammers.

Worldremit are scammers. Horrible service. Horrible customer care. Horrible feedback. They're only interested in collecting you money and leaving you...Read more

Worldremit are scammers. Horrible service. Horrible customer care. Horrible feedback. They're only interested in collecting you money and leaving you in limbo. Very unprofessional. Run away from them.

2 days ago
by Mark Nartey

5 stars

World Remit Review

WR, simply the best! Check them out and be awed. - M.

3 days ago
by Fernando

5 stars

Not as cheap as I expected it to be

Not as cheap as I expected it to be, but the transaction was super fast and everything worked well.

3 days ago
by LMRoxas

4 stars

Quick and easy used

Quick and easy used. Very good to recommend.

3 days ago
by Mizan

5 stars

Great service

Great service! Very fast service! I love this site. Highly recommend this site. Thanks

3 days ago
by Aiswarya Pemmaraju

1 stars

Money Refund

Hello, I made a transaction last week and it was cancelled from your end.However I am not refunded.The customer service doesn't answer any of my calls and...Read more

Hello, I made a transaction last week and it was cancelled from your end.However I am not refunded.The customer service doesn't answer any of my calls and I would like to know when will I get my money back

3 days ago
by Mohamed Dabo

5 stars

so satify and all tranfer went …

so satify and all tranfer went perfect.Very happy with worthremit

3 days ago
by Klein

4 stars

At the beginning there were problems …

At the beginning there were problems where the transfer took over 2 days instead of minutes. The hotline person did not solve the problem, so one has to...Read more

At the beginning there were problems where the transfer took over 2 days instead of minutes. The hotline person did not solve the problem, so one has to sometimes try to reach another hotline person who knows what to do to solve it. Since there were no more problems. All worked as it should.


WorldRemit have excellent customer reviews on Trustpilot, with an average rating of 9.5 stars out of 10. Here’s a summary of what WorldRemit customers have to say: :

Positive
  • By far the aspect of WorldRemit’s service which customers like most is how quick it is to make a transfer, and how fast the money is delivered
  • The convenience and ease of use of WorldRemit’s service is praised in many reviews
  • Customers find that the fees and exchange rates of WorldRemit are much better than those of its competitors
  • Customers feel that their money is safe with WorldRemit’s secure service
Negative
  • In some isolated cases, some customers’ transfers were delayed for reasons not always under WorldRemit’s control


Can I trust WorldRemit ?

WorldRemit is headquartered in the United Kingdom, where it is authorised and regulated by the Financial Conduct Authority (FCA) for the provision of payment services. It also operates and is regulated in the United States, Australia, and Canada. This imposes strict regulations on WorldRemit to protect consumers against fraud and safeguard their funds in case the company has financial difficulties. It requires the company to hold sufficient amounts of capital to ensure financial stability, and to have internal procedures to manage risk.

WorldRemit processed 3.5 million transactions in 2015 alone, transferring close to $1 billion between countries around the world. All connections to WorldRemit through their website and mobile app are secured using 256-bit SSL encryption with a 2048-bit signature. The company is very well capitalized, having raised close to $200m in capital from world-renowned investors such as Accel Partners (investors in Facebook, Dropbox and Spotify) and Technology Crossover Ventures (TCV, investors in Airbnb and Netflix).

WorldRemit employs over 200 people across its 6 offices in the UK, the US, Canada, Australia, New Zealand and Japan. According to reviews by WorldRemit employees on the Glassdoor website, the people working at WorldRemit are “very passionate”, “smart” and “talented” people who “genuinely care about WorldRemit’s mission” and come from diverse backgrounds. The office is wonderful, and the company “sets a very high entry standard” and is “disrupting an industry that overcharges its customers”.

So, is WorldRemit safe? We would not hesitate to say that WorldRemit is completely trustworthy, and is among the most secure remittance services available.


Authorised by the UK Financial Conduct Authority (FCA)
Firm Reference : 574642

 







How WorldRemit works


1.First, select the country you are sending money to. This will determine the available pay-out methods.

2. Second, choose how much you would like to send, and how the recipient should receive the money. The fees and exchange rate will vary depending on your amount and pay-out method.

3. Pay for your transfer using your preferred pay-in method. You have the choice between using your debit or credit card, using a secure banking payment service such as SOFORT, or making a manual bank transfer (if you’re in the UK).

4. Pay for your transfer using your preferred pay-in method. You have the choice between using your debit or credit card, using a secure banking payment service such as SOFORT, or making a manual bank transfer (if you’re in the UK).

5. Your money’s on its way, and both you and your recipient shall be notified by SMS and/or e-mail every step of the way.


 


 

WorldRemit Exchange Rate & Fees

Transfer fees

WorldRemit fees depend on the pay-out method you choose for you transfer. For example, the fees for cash pickup are usually higher than for a bank deposit. While WorldRemit’s transfer fees are usually flat, in some cases you will pay more fees for sending larger amounts of money.


Exchange rate

WorldRemit exchange rates depend on the pay-out method you choose. They are locked in advance so that you know exactly how much money will reach your recipient.


Other fees

WorldRemit does not charge any other fees. However, if you are paying by credit card, you should be aware that your card provider might charge you a cash advance fee. It’s best to check this with your card provider directly to avoid any bad surprises. Also, if you are sending an airtime topup, note that some countries apply taxes which will reduce the amount of airtime received by your recipient. If this is the case, WorldRemit will warn you before you complete your transfer.


WorldRemit Mobile apps

WorldRemit, which has been called “the WhatsApp of money”, has a strong emphasis on mobile platforms, both for sending and receiving money. WorldRemit’s iOS and Android apps provide an easy and very convenient way to send money with WorldRemit, from anywhere and at any time.

With the WorldRemit mobile app, you can check out WorldRemit’s exchange rate and fees, set up and track your money transfers, and manage your recipients. WorldRemit’s mobile apps on Google Play and the App Store are both rated an excellent 4.5/5.

 


Pay-out methods when sending money with WorldRemit

Bank deposit

If you choose this pay-out method, your money will be credited to the bank account of your recipient. They will then be able to withdraw the funds as cash, use them to make payments, or make an onwards bank transfer.

Cash pickup

With this pay-out method, the money you send will be available for pickup in cash at a local agent location of a WorldRemit partner.


Mobile money

This allows you to send money to a mobile money account (also known as mobile wallet), such as Vodafone M-PESA, MTN Mobile Money, Airtel, Globe Cash, Tigo, etc. This way, the money is available to your recipient anywhere and at any time.

Airtime top-up

You can also choose to top-up your recipient’s mobile airtime, which they can use to make calls or send SMS text messages.


 


The story behind WorldRemit

WorldRemit was founded in 2010 by Ismail Ahmed, a Somali migrant who arrived in the United Kingdom in the early 1990s to study economics at university. He regularly sent money back to his family in Somaliland, which cost him over 10 per cent in high street bank fees and required him to travel across town to the closest agent location.

Ismail later worked in the UN in the area of regulatory compliance, where he discovered the challenges that companies were facing to meet anti-money laundering (AML) and combating the financing of terrorism (CFT) regulations. He started thinking of how to make money transfers more efficient, and decided to create WorldRemit. Ismail was convinced that technology could improve how money was sent internationally, reducing costs and improving regulatory compliance.

The company was very quickly met with great success, and continues to grow rapidly to this day. Ismail was awarded the EY Entrepreneur of the Year award in 2016, rewarding him for his efforts and for “overcoming adversity” and achieving “global impact and success”.


Offices

 


UK office

62 Buckingham Gate
London
SW1E 6AJ

US office

600 17th Street
Suite 200S
Denver
CO 80202

Canada office

1000 rue de la Gauchetiere Ouest
Suite 2400, 24th floor
Montreal
QC H3B 4W5

Australia office

Level 16
1-7 Castlereagh Street
Sydney, NSW 2000

New Zealand office

41 Shortland Street
Plaza Level
Auckland 1010

Japan office

Ark Mori Building 12F
1-12-32 Akasaka, Minato-ku
Tokyo 107-6012


 

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Key facts about WorldRemit

Service information

Time to open an account A few minutes
Minimum amount -
Maximum amount -
Available languages
Français
English
Español
Personnal transfers No
Business customers Yes
Advanced currency contracts No
Required documents -

Company information

Type of service provider Online money transfer operators
Active since 2009
Headquarter London, United Kingdom
Regulated by FCA

Contact information

Contact support -
Service hour -
Twitter @wordlremit
Facebook worldremit


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