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

16,694 customer reviews on WorldRemit on Trustpilot


02/05/2018
by Carla

5 stars

Great service

Great service

02/05/2018
by Oyvind Orvik

5 stars

Effective and quick money transfer.

Effective and quick money transfer.

02/05/2018
by Betty

4 stars

So far so good for the app

So far so good for the app. I have not spoken to a person yet, but even the fees are descent. Thank you


More reviews

02/05/2018
by Donna Amoah

3 stars

This is my third time using the company …

This is my third time using the company and the third time I have had to call WorldRemit to chase up the payment. The transaction is quick and takes the...Read more

This is my third time using the company and the third time I have had to call WorldRemit to chase up the payment. The transaction is quick and takes the money off your debit card immediately but its been 40 minutes and still the money has not been delivered and still saying in progress. Its not a lot of money, but it was needed urgently and still not delivered. I have now been waiting 15 minutes on the phone and still no response. This will be my last time using them...Its ridiculous in 2018. WorldRemit should say this is not an immediate service.

02/05/2018
by Moses Andima

5 stars

Quick and Reliable

I wanted to send some money to my wife urgently without having to leave my work place, a friend told me I could use Worldremit. So I signed up and within...Read more

I wanted to send some money to my wife urgently without having to leave my work place, a friend told me I could use Worldremit. So I signed up and within 5 minutes money was already transfered to my wife's mobile money account. It was fast, very reliable.

02/05/2018
by Ken

3 stars

Please ensure that your rates are …Rates competiveness

Please ensure that your rates are attractive compared with other money service transmitters such as Western Union. Thanks

02/05/2018
by Albert

5 stars

World remit is so easy to use

World remit is so easy to use with clear terms of how you are being charged. The deliveries are fast with prompt notification. A beautiful all round...Read more

World remit is so easy to use with clear terms of how you are being charged. The deliveries are fast with prompt notification. A beautiful all round service

02/05/2018
by Moses

5 stars

Fastest and easiest way to send money …

Fastest and easiest way to send money world wide.

02/05/2018
by ADRIANA JONES

5 stars

WORLDREMIT HAS BEEN A HUGE RELIEF

WORLDREMIT HAS BEEN A HUGE RELIEF, I CAN SEND MONEY AT A VERY LOW RATE, ANY WHERE ANYTIME FROM THE CONVIENCE OF MY PHONE

02/05/2018
by Tuser Biswas

1 stars

Account closed ... NO explanation

I have been using this world remit for last one year. No problem. Now suddenly they stopped one of my transaction and disable my account. I called and...Read more

I have been using this world remit for last one year. No problem. Now suddenly they stopped one of my transaction and disable my account. I called and mailed them several time but they give me no reason why they did it. Just says security reason and according to their terms and condition they can close any account anytime! Actually I received some voucher from worldremit for discount on next transactions. I used two of those and have few more left to use. So I think worldremit don't want me to use anymore discount so closed my account without explanation. I feel like being cheated by this type of behavior from them. I mean ... yes there are security things, terms conditions etc. but how you say NO to your customer without any explanation! So ready to be surprised with a disabled account if choose to use worldremit.

02/04/2018
by TM

5 stars

Recipient got the money well on time …

Recipient got the money well on time with no hassle2124

02/04/2018
by Mars

5 stars

Super..

Super... This helps me a lot to send money to my love one’s with out trouble. Thank you for the excellent service.

02/04/2018
by Famuyiwa

5 stars

You are the best

You are the best

02/04/2018
by Jerry Verbrugghen

5 stars

Great service up to now.

Great service up to now. I'll continue sending money with your services if service level remains top.

02/04/2018
by @1988dragen

4 stars

Fastest and hassle free.

Fastest and hassle free.

02/04/2018
by Jassildh

5 stars

Nice experience

Nice experience. I can’t expect this much quick response. Thanks for solving my problem

02/04/2018
by teeolowe

5 stars

Easy transaction

Easy transaction. Excellent execution and above all efficient service

02/04/2018
by Caroline

5 stars

This is the fastest and most convenient …

This is the fastest and most convenient way I’ve transferred money. From the comfort of my home.

02/04/2018
by Tinashe Gwarazimba

5 stars

Truly am impressed with your service …

Truly am impressed with your service will continue to do business with you.Tinashe Gwarazimba

02/04/2018
by Sukhvir

4 stars

Great service

Great service

02/03/2018
by DAVID VINER

5 stars

SERVICE --WORLD REMIT!!

SERVICE --WORLD REMIT!! I FIND WORLD REMIT --WONDERFUL-- AND I SAY THEY ARE THE BEST!! 5 STARS FORSURE!

02/03/2018
by Godsen

5 stars

Excellent- will recommend this app to …

Excellent- will recommend this app to other people.

02/03/2018
by TM

3 stars

Money got to resipient On time

Money got to resipient On time

02/03/2018
by Olay

5 stars

Great App...Fast and never disappoints.

Great App...Fast and never disappoints.

02/03/2018
by Ousunobun agbontaen

5 stars

Nice and fast

Nice and fast

02/03/2018
by Gowin

5 stars

Fast and reliant service

Fast and reliant service

02/03/2018
by Sheena

5 stars

Thank you for making this easy and for …

Thank you for making this easy and for allowing me to help my friends!! You are awesome!!

02/03/2018
by Rurik Finol

5 stars

Ticks all the boxes ..

Ticks all the boxes .. Very happy with it

02/03/2018
by E.K.

5 stars

Highly recommended

The process at worldremit was very fast, it was without any problems, the money I have sent could be picked up within a short time, the fees are very low,...Read more

The process at worldremit was very fast, it was without any problems, the money I have sent could be picked up within a short time, the fees are very low, everything perfect. I highly recommend Worldremit

02/03/2018
by Harjit Singh

4 stars

Your processing time is too long so its …

Your processing time is too long so its not useful in emergency cases if anybody will need for money. Apart of this your service is excellent. I’m...Read more

Your processing time is too long so its not useful in emergency cases if anybody will need for money. Apart of this your service is excellent. I’m really like worldremit. And recommend to my other friends and family members.


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