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

15,311 customer reviews on WorldRemit on Trustpilot


49 minutes ago
by Maria

4 stars

Safe and fast.

Safe and fast.

49 minutes ago
by Kevin

5 stars

Fantastic service

Fantastic service, fast and very reliable.

49 minutes ago
by O.O

5 stars

I'm amazed at how good the service is!

I'm amazed at how good the service is!


More reviews

49 minutes ago
by Ivonne Ramos

4 stars

Helps a lot in sending money to my …

Helps a lot in sending money to my family

49 minutes ago
by Oj

5 stars

Excellent service so far

Excellent service so far. Done three transfers and they have been easy to initiate and swift in delivery. I only wish I was given a final window to...Read more

Excellent service so far. Done three transfers and they have been easy to initiate and swift in delivery. I only wish I was given a final window to review the transfer before final execution. 5 stars anyhow.

49 minutes ago
by Nasrah

5 stars

Very convinient

Very convinient

49 minutes ago
by Kwesi Boafo

5 stars

Easy and swift!

Money transfer made easy and swift. Keep up the good work worldremit!

49 minutes ago
by Djibril

5 stars

Fastest and safest way to send money

Fastest and safest way to send money . I like the way you guys double check identity before allowing the transaction .

49 minutes ago
by Patrick Donkor

5 stars

Worldremit is the safest money transfer.

Worldremit is the easiest, fastest, cheapest and above all , the safest way of transferring money across the world.

49 minutes ago
by stephen cleere

5 stars

Just made my latest request for payment …

Just made my latest request for payment to Far East. Again it was done efficiently and fast no messing, I recommend world remit.

1 day ago
by MC

5 stars

Fast transfer

Fast transfer! awesome and fees charged are not bad.

1 day ago
by Anthony

5 stars

I was skeptical at first and very slow …

I was skeptical at first and very slow to switch from Western Union (also used Moneygram a couple of times), but decided to make the jump after checking...Read more

I was skeptical at first and very slow to switch from Western Union (also used Moneygram a couple of times), but decided to make the jump after checking out the reviews. The service is so much better!! Worldremit makes things easier and the exchange rates are better (for now at least). When sending a larger amount, the checks are reasonable and the turnaround is relatively quick. Western Union better shape up!

1 day ago
by Alice

5 stars

Excellent Customer Service

Excellent Customer Service, Great Exchange Rates, & Convenient. Try and see for yourself!

1 day ago
by David

5 stars

Extremely fast and quality service

Extremely fast and quality service

1 day ago
by Salami

5 stars

WorldRemit is the best.Your money is …

WorldRemit is the best.Your money is safe with worldremit.

1 day ago
by Lilian Ramirez

5 stars

Good app.

Good app, trustworthy. Safe and secure. Easy to use. Really good. I totally recommend it for people who needs to send money ASAP

1 day ago
by Jacob John

5 stars

Excellent website and the app

Excellent website and the app, very user friendly. The rates and the transaction fees are the best so far. So THANK YOU.

1 day ago
by Alina

5 stars

Fantastic service

Fantastic service. Thank you.

1 day ago
by Surjit Singh

5 stars

One of the best

Reates are better and the service fee is less than western union. First transfer was credited to the indian account in two days. After that almost every...Read more

Reates are better and the service fee is less than western union. First transfer was credited to the indian account in two days. After that almost every transfer was cerdited in a day.

1 day ago
by JvT

5 stars

Easy and affordable to transfer money …

Easy and affordable to transfer money to another country

2 days ago
by Raj Nemuri

5 stars

Much satisfied

Much satisfied

2 days ago
by Faisal-Bin-Taher

5 stars

Exchange rate

It's nice service but exchange rate is a bit lower for Bangladesh

2 days ago
by Jaspreet Kaur sidhu

5 stars

Excellent service provider accordingly …

Excellent service provider accordingly me

2 days ago
by Ismael

5 stars

You guys have the lowest payments when …

You guys have the lowest payments when transferring money ..better then western union app. Im so glad to have signed up with you. Thanks or making us...Read more

You guys have the lowest payments when transferring money ..better then western union app. Im so glad to have signed up with you. Thanks or making us customer's happy. take care

2 days ago
by Lukeman Dasana.

5 stars

Transparent,Fast ,Affordable rate …

Transparent,Fast ,Affordable rate charges and very Helpful ....

2 days ago
by JH

1 stars

I think they are incompetent and in …

I think they are incompetent and in experienced. I had a very bad experience, very annoying, customer service not responsive they ignore you, no one...Read more

I think they are incompetent and in experienced. I had a very bad experience, very annoying, customer service not responsive they ignore you, no one answers the phone. Their automated email service always asking for ID which takes a whole week to approve and during this time they have already taken your money! which in my case i was sending it for an emergency, i had to borrow money and send it through western union which was instant good Value for money. They say it's the last time they ID you then a few months later they ask for ID again and say the same crap, "it's the last time".

2 days ago
by p.holmes england

5 stars

i used to use western union,very glad I …

i used to use western union,very glad I found worldremit.very fast and efficient,.cheaper than western union and better exchange rates.I would recommend...Read more

i used to use western union,very glad I found worldremit.very fast and efficient,.cheaper than western union and better exchange rates.I would recommend them to everyone

2 days ago
by Lala

4 stars

Not a bad rate and it’s fast

Not a bad rate and it’s fast

2 days ago
by Betty

5 stars

WorldRemit is amazing

I found WorldRemit by chance and to say my family and I are happy with the company is an understatement. I have sent money to Nigeria three times and...Read more

I found WorldRemit by chance and to say my family and I are happy with the company is an understatement. I have sent money to Nigeria three times and every time, the money has been sent within 5 to 10 minutes which is 10 times faster and more than my previous alternative. I cannot rave about this company enough. Great job.

2 days ago
by Ernie

5 stars

Fast..trusted

Fast... trusted thanks WorldRemit


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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