WorldRemit money transfer review & guide

Exchange rates, payment options, step-by-step guide, transfer fees, and all you need to know about .

Trademark Disclaimer: WorldRemit* with whom RemitBee Incorporated (“We,” “Us,” “Our”) has no direct or indirect association in marketing, sales or customer service. Indeed, the enclosed contents are provided only for information and comparison purposes. We further state that all third-party products, services, company names and logos remain the property of their respective holders. Use of them here in this article does not imply any affiliation with or endorsement by them.

Everything you need to know

WorldRemit review

One of the problems with traditional money transfer services is the limited options for the money pickup. For people in remote areas or who don’t have a strong banking relationship, it can be difficult or expensive to get their money.

The online money transfer industry has allowed people to get better access to the funds sent to them. In this way their funds are more accessible and the cost of such a transfer is very low.

One of the leaders in the online money transfer industry is WorldRemit. This company allows people in 50 countries to transfer money to friends and family in more than 150 countries. WorldRemit serves more than 4 million customers, and authorizes nearly 90 percent of its transfers in minutes.

If you want to send money quickly and easily using your computer or smartphone and allow your recipient access to their money in a variety of ways, WorldRemit may be a great option to try.

Payment Methods Available with WorldRemit

One of the great things about WorldRemit is that it has many paying and receiving methods. This allows customers to select which method is most convenient for them. The payment methods available may vary depending on the money’s destination country. Some payment options include:

Debit card
Credit card
Prepaid card
Poli
Interac
iDEAL
Apple Pay
Trustly

Although daily limits are not listed on their website, users can still expect them. This limit depends on the country where the customer is sending money. Some countries have higher daily limits on money transfers than others.

How much can I transfer with WorldRemit?

WorldRemit provides competitive limits for transferring money internationally, depending on whether you're using their online platform or going to an agent in person.

Debit, Credit, or Prepaid Cards

Maximum send amount per transaction: USD 5,000

Bank Account Transfers

Limits vary by country and local banking regulations.

WorldRemit Wallet

The maximum amount you can send depends on your country of residence and the payment method used.

How long does a transfer usually take with WorldRemit?

Every transfer will take a different amount of time depending on a few things. WorldRemit moves your money as quickly as possible, but the speed will be affected by things like the currency you’re sending to and from, how you pay for it, and banking hours.

Whatever currency you’re sending, converting your money can always take up to 3-5 business days.

WorldRemit Transfer Fees

As with many money transfer services, the exact amount you will pay in transfer fees for using WorldRemit depends on a few factors. These include how much money you’re sending, where you’re sending money to, and how the recipient will receive the money. For example, sending money for cash pickup costs more than transferring money from one bank to another. Because cash pickup is a quicker service, you pay more for the extra speed. Overall, WorldRemit’s fees are low compared to other companies in the industry, and the company is transparent with the fees they charge. When you initiate a transfer, you will see all the transfer fees prior to completing your transaction, so there are no surprises. You may also be charged fees by your bank, credit union, or credit card company for using WorldRemit to send money. These fees are completely in the control of your financial institution and won’t be shown on WorldRemit’s website.

Pros and Cons of using WorldRemit

Pros

Easy-to-use website and mobile apps make sending money easy.

Variety of options when paying for your transfer and for the recipient to get their money.

Some methods, such as airtime top-up, are almost instant.

Lower transfer fees than other similar money transfer companies.

Transparent fees pricing and exchange rate, so you know exactly how much you’ll pay

Send money from 50 countries to more than 150 countries.

Cons

Fees fluctuate based on how your recipient plans to get their money, which can get expensive.

A limited number of supported overseas banks can make some transfers difficult.

You are limited on how the recipient gets the money depending on the country where you’re sending money to.

After the first 3 transfers, you need to pay fees for every new transfer. There are no free transfers over 500$ like Remitbee or Remitly have.

How it works

How does WorldRemit make money?

WorldRemit makes its money by charging its users a fee to send money to other countries. These fees vary depending on where you’re sending money to, and how the recipient plans to pickup the money. If, for example, you’re sending money to someone for cash pickup, it will cost you more than simply sending money from one bank account to another.

Additionally, WorldRemit charges a markup on its exchange rates. This markup can vary from transaction to transaction, but averages about 1 percent of the mid-market rate.

The fees charged by WorldRemit are often lower than many of its competitors, but can vary greatly. Check their website for the fees you will be charged, and compare them to other companies to see if you’re getting the best price for your money transfer.

WorldRemit exchange rates

WorldRemit offers guaranteed exchange rates when you want to send money to another country. Their exchange rates are competitive with the mid-market rate you’ll find at most banks. This means they charge less markup on those rates, overall costing you less. These rates are locked in when you initiate your transfer, and they are updated daily. This means the amount you are quoted is how much your recipient will receive, even if the transfer takes a few days and rates change.

Safety and security

Is WorldRemit money transfer secure?

WorldRemit is considered a secure and well-trusted platform for sending and receiving money internationally.

It is fully licensed and insured in multiple countries. With its commitment to secure transactions, WorldRemit has gained significant trust from users around the world.

WorldRemit complies with the regulatory requirements in the countries where it operates, ensuring the security of every transaction.

Security features

All WorldRemit accounts are verified using a range of security measures, ensuring that only authorized users can access and perform transactions.

To send money through WorldRemit, users must submit certain documents to prove their identity, in compliance with anti-money laundering regulations.

WorldRemit employs both manual and automated fraud detection systems, allowing for quick identification and handling of any suspicious activity.

WorldRemit is licensed and regulated by financial authorities in the countries where it operates, ensuring adherence to financial regulations and maintaining the highest security standards.