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

14,415 customer reviews on WorldRemit on Trustpilot


22 hours ago
by Nuel Dreamz

5 stars

WorldRemit has just delivered …

WorldRemit has just delivered convenience at my door step with less cost. I used to travel so far to send money back home which cost me more, but...Read more

WorldRemit has just delivered convenience at my door step with less cost. I used to travel so far to send money back home which cost me more, but worldremit's awesome service made it a click away. Secondly I can just send my people home airtime at the snap of a finger. Life is made easy with WorldRemit.

22 hours ago
by Stephen

5 stars

Efficient

Efficient, fast and reliable.

22 hours ago
by Elle

5 stars

Awesome

Awesome. It took just 10mins to transfer from Sweden to my Axis Bank India. How did you do that so fast, WorldRemit? Its awesome :)


More reviews

22 hours ago
by Jane 0

5 stars

Transfers are done promptly and they …

Transfers are done promptly and they have the cheapest transfer rate I've seen.

22 hours ago
by Humoud

5 stars

Good

Very good their service is perfect ill use again

22 hours ago
by Eric Dayton

5 stars

Worldremit has the best customer …

Worldremit has the best customer service and has always came through for me. I highly recommend them. If you have a loved one who needs money use World...Read more

Worldremit has the best customer service and has always came through for me. I highly recommend them. If you have a loved one who needs money use World remit.

22 hours ago
by Frank

5 stars

Fast

Fast, convinient, and reliable

1 day ago
by Chris Barnett

5 stars

The service at World Remit is really efficient and value for money

The service at World Remit is really great and the fees are lower than Western Union.

1 day ago
by Scott

4 stars

Very easy to use and very good fees.

Very easy to use and very good fees.

1 day ago
by Olugbenga

5 stars

The most reliable fund transfer …

The most reliable fund transfer organisation to send money to your loved ones anywhere in the world. Use worldremit with rest of mind and absolute trust

1 day ago
by Jen

5 stars

I really love transferring money to my …

I really love transferring money to my family using world remit.Its fast and chrges are very low.

1 day ago
by Ellen

5 stars

GOOD SERVICE

GOOD SERVICE, MY FAMILY ARE ALWAYS HAPPY . 10/10 THANKS WORLD REMIT. GOOD JOB

1 day ago
by Herbet

5 stars

Good and trouble free

Good and trouble free

1 day ago
by Angela Masciovecchio

5 stars

So far I have had no negative …

So far I have had no negative experiences with WorldRemit and the staff have been very friendly and helpful. There is a few of us that support 52 orphans...Read more

So far I have had no negative experiences with WorldRemit and the staff have been very friendly and helpful. There is a few of us that support 52 orphans in Mityana Uganda. We deal directly with the Pastor and his brother who run the orphanage and it is all voluntary work so we needed to find a company that is cheaper with fees and very reliable. So far WorldRemit has met the criteria.

1 day ago
by Donald Keeya

5 stars

Transfer with phone right in your bed 24/7

I was always hooked onto Western Union, little did I know that there was a means much more cheaper and convenient.

1 day ago
by Elizabeth

5 stars

Quick and easy to use as very good

Quick and easy to use as very good value for money. Great that it is available online and I don't need to go to a shop.

1 day ago
by Pastor Helen

5 stars

Having used WorldRemit several times …

Having used WorldRemit several times now to both receive and send monies, I recommend them. They are easy to use, good exchange rates, cheap fees, and...Read more

Having used WorldRemit several times now to both receive and send monies, I recommend them. They are easy to use, good exchange rates, cheap fees, and helpful customer service.

2 days ago
by Victor

5 stars

Excellent service

Excellent service Save us time and money The best

2 days ago
by Francis

5 stars

Quick easy and good valuesimple

Quick easy and good value

2 days ago
by Cfax

5 stars

Superb reliable service

Superb reliable service . You made my day and you always make things happen for me Thanks

2 days ago
by Kwasi

5 stars

Fast and Furious

Fast and Furious

2 days ago
by Mr. J E Marshall

4 stars

Quick

Quick, easy , good rate of exchange and low fees . What more is there to say !

2 days ago
by Mampuru

5 stars

The best

Wonderful, low fee rate and great service. . I was sceptical @ first and was asking them a lot of questions but they were patient with me.

2 days ago
by Sean

4 stars

Had a few problems at begin Ning with …

Had a few problems at begin Ning with instruction on the fotos that had to be send said nowhere about fotos so phoned in to speak to someone and sorted it...Read more

Had a few problems at begin Ning with instruction on the fotos that had to be send said nowhere about fotos so phoned in to speak to someone and sorted it out and so far no problems. And happy now

2 days ago
by Randall king

5 stars

I've only used you 3 times it seems to …

I've only used you 3 times it seems to work good up to now so we'll go from there and see how things go in

2 days ago
by Michael Hussey

5 stars

Had a problem which was handeled very …

Had a problem which was handeled very professionally..... Excellent follow up...

2 days ago
by gazzer2000

5 stars

Simple

Simple, secure and safe delivery of funds.

3 days ago
by subrata

4 stars

happy with service so far

happy with service so far. prompt and reliable. thank you.

3 days ago
by Ernie

5 stars

Very satisfied in all aspect of the …

Very satisfied in all aspect of the process.

3 days ago
by Sanket Inamdar

5 stars

Important Feedback & Suggestions

1. need updation of IFSC Codes as some of them are not listed or provide us an option to edit manually 2. I cant add and save recepient details of same...Read more

1. need updation of IFSC Codes as some of them are not listed or provide us an option to edit manually 2. I cant add and save recepient details of same name having two or multiple different account. 3. People should get some offers/ vouchers from the company for many transactions and for the genuine suggestion for continuous improvement. thanks


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


 

From our blog

Our independent review of WorldRemit

We just published our in-depth review of WorldRemit.  You can read the full review on our website, where you’ll find the details of our independent evaluation, customer reviews, information about how to send money with WorldRemit, and the story behind the company.


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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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