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

13,802 customer reviews on WorldRemit on Trustpilot


17 hours ago
by Aditya patel

5 stars

Excellent services

Excellent services

17 hours ago
by k khan

5 stars

very good and fast service.

very good and fast service.

17 hours ago
by Stephen Ndeti

5 stars

Mobile money

It's quick and efficient.


More reviews

17 hours ago
by Esther

5 stars

This option is very good and very easy …

This option is very good and very easy to do. Thank you WorldRemit to make our lives easy and better.

17 hours ago
by Jefhark

5 stars

Excellent service

Excellent service! Fast and easy money transfer.

17 hours ago
by Emmanuel chris

5 stars

Cheaper commission and ease and fast of …

Cheaper commission and ease and fast of transfer

17 hours ago
by Luis Silvosa

5 stars

im so so happy with the services so …

im so so happy with the services so rapid to send it anywhere on this planet

17 hours ago
by elizabeth joy

5 stars

reliable and efficient

reliable and efficient

17 hours ago
by Merlita Malmstr

5 stars

Best money submitting service I used!

Best money submitting service I used!

17 hours ago
by Harpreet Singh

5 stars

Awesome

yes, honestly speaking the best way to send money but i want to change one thing, The rate should be changed as the exchange rate changes several times a...Read more

yes, honestly speaking the best way to send money but i want to change one thing, The rate should be changed as the exchange rate changes several times a day

1 day ago
by George

5 stars

Fast and Cheap all OK

Fast and Cheap all OK

1 day ago
by GhanaPlaylist.com

4 stars

Very good experience

Very good experience. The app is helps a lot. No need to keep going to the shops to queue to send money. Efficient. Did not give 5 stars 'cos they do not...Read more

Very good experience. The app is helps a lot. No need to keep going to the shops to queue to send money. Efficient. Did not give 5 stars 'cos they do not alert the receiver by SMS to the code.

1 day ago
by Maurice

5 stars

Re: Service Review.

Timely service. Efficient, very low cost.

1 day ago
by Didacus Ruhangampaire.

5 stars

To the mobile account you are superb

To the mobile account you are superb. To the bank account sometimes one remains uncertain and anxious otherwise keep it up

1 day ago
by Nanette

5 stars

Fast and excellent service thank you

Fast and excellent service thank you

1 day ago
by Cathy Shepherd

1 stars

Withdrawing recommendation

I had recommended worldremit.com to at least 748 people. I am now taking back that recommendation. I had used their service twice before with no...Read more

I had recommended worldremit.com to at least 748 people. I am now taking back that recommendation. I had used their service twice before with no problems,but when I tried to send a larger sum last Friday I got a notice that they wanted me to contact them to answer just a few questions. I called the number provided and spoke with a young woman with a very strong upper level British accent, whom I could barely understand. I answered her questions and waited on hold for a few minutes. When she came back she informed me that they would not be completing the transfer. I could not understand what reason they were giving because of her accent, so I wrote them an email asking the reason. They responded with a stock email, which had no method to respond to, saying that I did not meet their "approval criteria" and then informed me that they had disabled my account with them. I read their Terms of Service and Agreement top to bottom and couldn't figure out how I had violated it. Remember here that they had already approved two prior transfers. I wrote them again asking them to tell me which part of the agreement I had violated and to reconsider their decision and allow the transfer to go through. I got the same stock email this morning that I don't meet their "approval criteria". I wrote them again to tell me what part of the agreement I had violated and informed them that they did not include their "approval criteria" in their agreement. After the first stock email, I went to a site that had posts about problems with them by other people. Apparently, they feel free to violate their own agreement whenever they choose. So, I am withdrawing my recommendation of them and warning those who are already using them that something like this could happen.

1 day ago
by Camz

5 stars

This app helps me so much

This app helps me so much! Especially we lived in the mountains, transactions never been this easy! Thank you very much!! P.S. my mom is also using this...Read more

This app helps me so much! Especially we lived in the mountains, transactions never been this easy! Thank you very much!! P.S. my mom is also using this app.

1 day ago
by Raman kumar

5 stars

The service is really fast and secure

The service is really fast and secure

1 day ago
by monica

5 stars

Excellent

Excellent Good services.

1 day ago
by John

5 stars

Your the best ever!

Your the best ever!

2 days ago
by Charles

5 stars

Does exactly what they say

Does exactly what they say. No fuss and instant support if needed

2 days ago
by K kebede

5 stars

Excellent

Excellent service & I'm very pleased E

2 days ago
by Kathleen Fernandez

5 stars

quick and very efficient..

quick and very efficient.. sent money to he philippines via world remit and i couldnt be any more happier with the service. very handy and safe. would...Read more

quick and very efficient.. sent money to he philippines via world remit and i couldnt be any more happier with the service. very handy and safe. would defo use again and i totally recommend it.

2 days ago
by dee

5 stars

Safe,secure and efficient servive

Safe,secure and efficient servive

2 days ago
by Eric Selorm Kwakudua

5 stars

This has been an excellent service.

This has been an excellent service. I love it.

2 days ago
by Sukhpal singh

5 stars

Reliable and speedy transactions

Reliable and speedy transactions

2 days ago
by DAVID

5 stars

Excellent

Excellent, efficient

2 days ago
by Happyman

5 stars

Just started using your services and …

Just started using your services and cannot say there is any one near you in the service delivery. Very pleased to have discovered you through a friend.

2 days ago
by Holla

4 stars

Good experience so far

Good experience so far

3 days ago
by Jenny Miranda

5 stars

It is the best option for send money …

It is the best option for send money overseas, no problems at all


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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