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

15,725 customer reviews on WorldRemit on Trustpilot


4 hours ago
by Rosa Westland

5 stars

Hassles free..Excellent

Hassles free..Excellent - no reservations, I would recommend this company to anyone.

4 hours ago
by Francis Felix

5 stars

Money Transfer At Your Finger Tips.

Very easy and convenient to transfer money. Excellent service.

4 hours ago
by Zakhe

5 stars

Effective method of sending money

Effective method of sending money


More reviews

4 hours ago
by Daniel L.

5 stars

Easy and convenient service

Easy and convenient service. Good exchange rates. Highly recommended!

4 hours ago
by ALI

5 stars

Great service

Great service

4 hours ago
by Sebastian

5 stars

:) Good

:) Good. Easy and fast. Normaly it takes 15 min to get a money transfer

4 hours ago
by Kwami

5 stars

To me it's the most convenient and …

To me it's the most convenient and easier way to transfer money, The exchange rate he, is not always better but, but hey their fees, you can't beat that...Read more

To me it's the most convenient and easier way to transfer money, The exchange rate he, is not always better but, but hey their fees, you can't beat that one.

4 hours ago
by Zafira B owner.

5 stars

Excellent service

Excellent service. Would recommend to anyone.

4 hours ago
by Pinku

5 stars

Perfect all service gave

Perfect all service gave. Like it.

4 hours ago
by Olubunmi Ayoola

5 stars

The are good and quick in deliver their …

The are good and quick in deliver their service.

1 day ago
by Aylnene Merkel

4 stars

Nothing to see Very Good

Nothing to see Very Good

1 day ago
by Kofi

1 stars

I only use it because it is the only …

I only use it because it is the only means but it is too expensive, rates are worse than even bank rates. It used to be the cheapest but now there more...Read more

I only use it because it is the only means but it is too expensive, rates are worse than even bank rates. It used to be the cheapest but now there more competitive prices out there and once transferwise gets to Ghana I am leaving.

1 day ago
by Zubair

4 stars

Fast and secure

Fast and secure, just need to add other countries, moreover any free vouchers to the customers after lets say 5 transactions.

1 day ago
by Raida Schulthess

5 stars

I am very satisfied and it's very …

I am very satisfied and it's very convenient and easy way to send money to my Family.

1 day ago
by tuivagaisimeli

5 stars

The fastest and easiest way to send …

The fastest and easiest way to send money abroad especially when its the festive season..excellent

1 day ago
by ZC

5 stars

So reliable

So reliable. They helped me out through some questions. Keep it up World Remit!!!

1 day ago
by Gabriel Mars

5 stars

Awesome

Awesome! Great fast reliable service.

1 day ago
by UCHENNA

5 stars

Very easy to solve problems on …

Very easy to solve problems on transactions.

1 day ago
by Alexei

5 stars

Everything went quick and smoothly

Everything went quick and smoothly, very easy and comfortable and for reasonable price

1 day ago
by albert enchil

5 stars

the service as a whole was efficient …

the service as a whole was efficient and convienent

2 days ago
by Tinu

5 stars

World best transfer,they will give you …

World best transfer,they will give you best in what you want,

2 days ago
by Edina

5 stars

Fast

Great service

2 days ago
by Steve K

5 stars

Using World Remit to send money to my friends in Kenya

Using World Remit to send money to my friends in Kenya has been very easy, and a better deal with exchange rates than the other big money transfer...Read more

Using World Remit to send money to my friends in Kenya has been very easy, and a better deal with exchange rates than the other big money transfer services... dealing with customer support has been a very enjoyable experience for a change. Would recommend to anyone!

2 days ago
by Derick C

5 stars

The WorldRemit thing has made things …

The WorldRemit thing has made things much easier for me, I have totally eliminated all middle men where you send money to Lusaka, they withdraw May be...Read more

The WorldRemit thing has made things much easier for me, I have totally eliminated all middle men where you send money to Lusaka, they withdraw May be borrow some before they send to Mwansabombwe which is in Zambia in central southern Africa. That's in the past now I send directly to my mother in Mwansabombwe in minutes she has the money , needless to say the middle men in Lusaka are not happy

2 days ago
by Merlin Kornelia

5 stars

Very fast and always provide useful …

Very fast and always provide useful information about the status of transfer both in email and regular message. Already use it for several times and...Read more

Very fast and always provide useful information about the status of transfer both in email and regular message. Already use it for several times and absolutely will continue to use it next.

2 days ago
by Brenda Taylor

5 stars

It's fast and liable I must admit I …

It's fast and liable I must admit I will continue to use work remit

2 days ago
by Denise

5 stars

Excellent service

Sent some money to a friend in Kenya, within 20mins he has texted to say, thank you. Excellent service

2 days ago
by Excellent service but can get better

5 stars

Safe and reliable

Safe and reliable. The challenges has been with not receiving money from Ghana to the Czech Republic via world remit and the late response to mail sent on...Read more

Safe and reliable. The challenges has been with not receiving money from Ghana to the Czech Republic via world remit and the late response to mail sent on other challenges one gets with the system.

2 days ago
by Ah

5 stars

Fast secure service from the comforts …

Fast secure service from the comforts of your laptop, Fees a bit high, consider fee discount to attract more users.

3 days ago
by Durga Dhungana

5 stars

I am very satisfied with WorldRemit

I am very satisfied with 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


 

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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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