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

14,890 customer reviews on WorldRemit on Trustpilot


5 hours ago
by Rashmi

5 stars

Fast n efficient

Fast n efficient

5 hours ago
by Halifax

5 stars

Very convenient and reliable!!!

Very convenient and reliable!!!

5 hours ago
by Daisi Olusegun

3 stars

Worldremit is the best to send money …

Worldremit is the best to send money to anywhere in the world


More reviews

5 hours ago
by mucheru Anthony

5 stars

Very effective and faster and cheaper.

Very effective and faster and cheaper.

5 hours ago
by Amir Quraishi

5 stars

Great excellent services delivered as …

Great excellent services delivered as specified

5 hours ago
by Selyne

5 stars

High rate and fast

High rate and fast

5 hours ago
by Kc

5 stars

this is good

this is good, fastest and very safe app!

5 hours ago
by Naa

3 stars

I liked it.....but now.....

I liked using World remit because their fees were so low, but recently they have increased their fees for sending money to Ghana. Not Cool!

5 hours ago
by Joyce T

5 stars

Its easy,fast ,reliably and safe way of …

Its easy,fast ,reliably and safe way of sending money .thanks very much.

1 day ago
by Phyllis Sackey Hansen

5 stars

I just find out about World Remit and …

I just find out about World Remit and is very fast and easy to use. I find it very convenient and stress free..

1 day ago
by MB

5 stars

I've used worldremit services six times …

I've used worldremit services six times both sending money and telephone credits to love ones in Nigeria. Their services is very efficient. Within some...Read more

I've used worldremit services six times both sending money and telephone credits to love ones in Nigeria. Their services is very efficient. Within some minutes the receiver will get an alert on the transaction .I'm gonna be using their service from now on. I will recommend.them to my friends and family.

1 day ago
by Jose Serrano

5 stars

Fast,cheap

Fast,cheap, and good customer service Safe way to send money

1 day ago
by Jason Fredrick Sinclair

5 stars

On reaching to surround happiness one...

On reaching to surround happiness between people love of world marketing trusting marry. On with soul accept way for long time I too survival change other...Read more

On reaching to surround happiness between people love of world marketing trusting marry. On with soul accept way for long time I too survival change other abilities . Quality satisfaction to horror political gentrification couple to togetherness family oath live . With security seriously feeling transliteration to be forever greatful so we together loveable life. I do love Leticia Sinclair Duodu on vows of bible one thoughtfully honestly communication true partner . Thanku on Instagram to have opportunity as personal client improvement formations . Form change money to fortune great dollar . Kind Regard Jason Sinclair 82 Graham Morayfield 4506 Pass port Australian M7705356 0405355085

1 day ago
by Geo

5 stars

My experiences have always been good.

My experiences have always been good.

2 days ago
by Carl Wheeler

5 stars

Quick and simple.

It is the only way I have found to consistently get cash for my own use in Ukraine. Since I visit here a lot, that is a very big deal. It is quick -...Read more

It is the only way I have found to consistently get cash for my own use in Ukraine. Since I visit here a lot, that is a very big deal. It is quick - available to pick up at various banks within minutes. It is simple - no going to the bank to draw cash then going to the money transfer location to send it (both of which my daughter would have to do for me when I am out of the Country). Bank debit cards don't work here - this does. The most difficult part of the process is communicating with the bank tellers, since my Russian is very week and my Ukrainian is even worse.

2 days ago
by sebastiano mafodda

5 stars

My experience is that there is no other …

My experience is that there is no other companys that offer true and honest services then World Remit, and i hope that they continue to do so in the...Read more

My experience is that there is no other companys that offer true and honest services then World Remit, and i hope that they continue to do so in the future, not just to me but to everyone that needs this services, Thanks Yours Sincerely Sebastiano Mafodda

2 days ago
by Salim

5 stars

Fast

Fast, efficient and secure

2 days ago
by Niranjan Nath

5 stars

For me its a very easy and excellent …

For me its a very easy and excellent way to send money to my country. Thanks .

2 days ago
by Conrad

5 stars

really excellent service and very …

really excellent service and very reliable

2 days ago
by Beda Mitungi

5 stars

Rating

Nice company for money transfer, I love world remit

2 days ago
by Valentine

5 stars

Perfect and smooth transaction

Perfect and smooth transaction. Best service in its class. Very convenient

2 days ago
by raj

5 stars

Very fast and safe.

Very fast and safe.

2 days ago
by Ken

5 stars

WorldRemit is the ONLY money transfer …

WorldRemit is the ONLY money transfer services known to me! Recipients get their money within minutes and without having to go to the bank. Their daily...Read more

WorldRemit is the ONLY money transfer services known to me! Recipients get their money within minutes and without having to go to the bank. Their daily limit is reasonable as well. Other money transfer services are out there wasting your time and money unnecessarily. Thank you for making things a lot easier for people.

2 days ago
by Paa Kwesi

4 stars

Fast and Reliable

Fast and Reliable

3 days ago
by Dr.Val

5 stars

Very fast and reliable

Very fast and reliable! I'm always impressed with their services!

3 days ago
by Rahman

5 stars

These guys are lifesavers and have …

These guys are lifesavers and have never let me down. 10 star service every time ..... Thank you Worldremit .....

3 days ago
by Qamar

5 stars

This is super and fantastic.

This is super and fantastic.. ausgezeichnt.. sprachlos

3 days ago
by Rafa123

5 stars

Fasttt and easy service!!!

Fasttt and easy service!!!

3 days ago
by Geto

5 stars

Excellent service

Excellent service

3 days ago
by Reny

5 stars

Very convenient

Very convenient. Very efficient. Very transparent


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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