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

16,306 customer reviews on WorldRemit on Trustpilot


23 hours ago
by Sakina Abdeali

1 stars

Money gone missing

My recent experience has been really bad I sent money to Pakistan over 2 weeks ago still hasn't got there I ring every single morning only to be told that...Read more

My recent experience has been really bad I sent money to Pakistan over 2 weeks ago still hasn't got there I ring every single morning only to be told that will get an update in little while and nothing happens and this money is for an old ladies shelter home rent and as it hasn't been paid we are paying interest every day I'm so disappointe and am also worried .

23 hours ago
by Ali abdullahi

5 stars

Excellent service

Excellent service

23 hours ago
by Hannah

5 stars

Fast and reliable

Fast and reliable


More reviews

23 hours ago
by Mr Jack Armstrong Remezus Wilfred Coutinho

5 stars

I just love it

I just love it, because it is easy to send and view all transactions history. It is very reliable.

23 hours ago
by Chris dalquen

5 stars

Very easy to use

Very easy to use

23 hours ago
by Peter Fahrni

5 stars

Best way to send money abroad

Quick, cheap and easy

23 hours ago
by Matjaz Virtic

5 stars

Very fast and good

Very fast and good, recommended

23 hours ago
by Miguel

5 stars

The best

Great service, great return to customer service, efficient, fast, secure and transparent by far the best service around.

23 hours ago
by Merika

5 stars

Money is available almost immediately …

Money is available almost immediately once I set up my account to send money for less money than other companies! Thank you Worldremit!

23 hours ago
by Barbette Lopez

5 stars

World remit creates a big help for me …

World remit creates a big help for me to connect and send financial support to ny family back home and im si thankful.

1 day ago
by osei

5 stars

fast service and really pleased...

fast service and really pleased...

1 day ago
by Belinda

3 stars

I have a problem with the exchange …

I have a problem with the exchange rate. I get exchange rate alerts but when I sent the money the exchange rate i got was much lower than the alert I had...Read more

I have a problem with the exchange rate. I get exchange rate alerts but when I sent the money the exchange rate i got was much lower than the alert I had earlier. This is not right. If this continues I will look for alternative ways of money transfer.

1 day ago
by sam

5 stars

Good service

Good service. Sincerely recommend their service.

1 day ago
by Zae

5 stars

It's been a very convenient and quick …

It's been a very convenient and quick way to send money internationally.

1 day ago
by Paul

5 stars

I really didn't believe this until I …

I really didn't believe this until I tried it out, recepient got the money in less than 20mins.... Great app, great idea, great work

1 day ago
by IMAFIDON ekuase

5 stars

Is the best I have seen so far..

Is the best I have seen so far... so fast, no delay, very convenience and exchange rate is wow...... Please guys look forward to check it out

1 day ago
by Nissry

5 stars

Just the Best.

Just the Best.

1 day ago
by Remco

5 stars

Best money transfer ever

Best money transfer ever

1 day ago
by nawabzadi94

4 stars

Great service,easy and quick …

Great service,easy and quick response.appreciate that and will refer my friends.

1 day ago
by Leon Vallejo

5 stars

Excellent service

Excellent service, they always ask in case something needs to be fixed, and the response to my doubts are always almost instantly. Recommend it for all...Read more

Excellent service, they always ask in case something needs to be fixed, and the response to my doubts are always almost instantly. Recommend it for all the outside banking transactions

2 days ago
by Deborah Hughes

5 stars

Great App to Send Money and Airtime to my Friend & Family in Nigeria

Hi, I had never heard of this App until my boyfriend who lives in Nigeria mentioned it as a result of seeing it on a YouTube commercial. I admit I was a...Read more

Hi, I had never heard of this App until my boyfriend who lives in Nigeria mentioned it as a result of seeing it on a YouTube commercial. I admit I was a skeptic until I researched the company and see that not only does the company specifically provided money transfer services to a large majority of Africa, but it is doing great business since its inception just a few short years ago. I would recommend it my colleagues who have relatives in Africa and other countries too. I even like the added banking protection my banking institution provides to ensure I am actually authorizing such transactions and it is not an identity issue. Lastly, there is a bit of a lag time when authorizing and the recipient receiving funds. I timed my transaction today and it was a 22 minutes window before I received my text confirmation stating the transaction was complete...other than that I appreciate the fact that it calculates in the different currencies so I don't have to, saves time.

2 days ago
by Lalit Narayan jha

5 stars

I am your key customer

I am your key customer I am sending money to Nepal But bank never calling for given mobile number about transaction has been done or not This is the...Read more

I am your key customer I am sending money to Nepal But bank never calling for given mobile number about transaction has been done or not This is the great issue. Please try to solve this issue

2 days ago
by Asisat

5 stars

Good and excellent

Good and excellent

2 days ago
by Kam Francis

5 stars

simplicity and expediency

simplicity and expediency

2 days ago
by Bernt Roland

5 stars

I am very satisfiied with your services

I am very satisfiied with your services

2 days ago
by AJ

5 stars

I always use WorldRemit to support …

I always usedWorldRemit to support family and friends back home. Fantastic service, very reliable and fast

2 days ago
by MAURICE D COOPER

4 stars

Well I must admit this is my very first …

Well I must admit this is my very first time using World remit and thus far I am very satisfied. The money transfer fees are reasonable and the service is...Read more

Well I must admit this is my very first time using World remit and thus far I am very satisfied. The money transfer fees are reasonable and the service is very fast and efficient. I am very satisfied with the service and efficiency right now. Thanks in advance!

2 days ago
by Ink Chan

3 stars

The service is fast when you gonna send BUT

The service is fast when you gonna send a low amount of money to the Philippines. But if you gonna send a big amount what will happen, when the people are...Read more

The service is fast when you gonna send a low amount of money to the Philippines. But if you gonna send a big amount what will happen, when the people are going to get their money in the cash pick up branches they don't have sufficient money and worst case you have to find a place that has a money that gives you.

2 days ago
by Abraham Akingbemila

5 stars

I can now trust with my account info

I was sceptical about my personal account information with the folks I never knew from Adams, I tried them first, then second time and now I can trust...Read more

I was sceptical about my personal account information with the folks I never knew from Adams, I tried them first, then second time and now I can trust them with my account information so that... now I can send money to family members anywhere around the world

2 days ago
by Ahmednoor Kalinleh

5 stars

I am now customer very happy to us …

I am now customer very happy to us woldrrmit Thanks very much helped us


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