OrbitRemit Money Transfer Review

Company name: OrbitRemit Global Money Transfer Limited

Service description: Bank to bank international money transfers via online platform as well as cash pickup.

Website address: www.orbitremit.com

Website Languages: Just English.

Review Summary: OrbitRemit is a foreign exchange service regulated and authorized by the Financial Conduct Authority (FCA) in the United Kingdom to provide worldwide money remittance and payment services to its customers. The biggest drawback is the fact that they will work only with clients from UK, Australia, and New Zealand, and their fees are not up to par with some of their competitors for bank to bank transfers. Their biggest advantage is their cash pickup rates which are quite superb.

Recommendation: Similarly to competitor Transferwise but not at the same level. A workable option for remittances if you are a citizen of UK, Australia or New Zealand and not as cheap as Currencyfair.


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OrbitRemit Fees:

OrbitRemit uses a flat fee system, which means that every time you make a payment, you will pay the same fee. Because you can only send money from 3 countries, the fees system is pretty easy and we will show it here.

Sending From the United Kingdom To:
New Zealand (NZD)GBP 4.00
Australia (AUD) GBP 4.00
United States (USD)GBP 4.00
Europe (EUR)GBP 4.00
Philippines (PHP)GBP 4.00
Vietnam (VND)GBP 4.00
India (INR)GBP 1.00
Indonesia (IDR)GBP 4.00
Malaysia (MYR)GBP 4.00
Sri Lanka (LKR)GBP 4.00
Bangladesh (BDT)GBP 4.00
Nepal (NPR)GBP 4.00
Fiji (FJD)GBP 4.00
Sweden (SEK)GBP 4.00
Denmark (DKK)GBP 4.00
Poland (PLN)GBP 4.00
Norway (NOK)GBP 4.00

Sending From Australia To:
New Zealand (NZD)AUD 4.00
United Kingdom (GBP)AUD 4.00
United States (USD)AUD 4.00
Europe (EUR)AUD 4.00
Philippines (PHP)AUD 4.00
Vietnam (VND)AUD 4.00
India (INR)AUD 4.00
Indonesia (IDR)AUD 4.00
Malaysia (MYR)AUD 4.00
Sri Lanka (LKR)AUD 4.00
Bangladesh (BDT)AUD 4.00
Nepal (NPR)AUD 4.00
Fiji (FJD)AUD 4.00
Sweden (SEK)AUD 4.00
Denmark (DKK)AUD 4.00
Poland (PLN)AUD 4.00
Norway (NOK)AUD 4.00

Sending From New Zealand To:
Australia (AUD)NZD 5.00
United Kingdom (GBP)NZD 4.00
United States (USD)NZD 5.00
Europe (EUR)NZD 4.00
Philippines (PHP)NZD 6.00
Vietnam (VND)NZD 4.00
India (INR)NZD 4.00
Indonesia (IDR)NZD 4.00
Malaysia (MYR)NZD 4.00
Sri Lanka (LKR)NZD 4.00
Bangladesh (BDT)NZD 4.00
Nepal (NPR)NZD 4.00
Fiji (FJD)NZD 4.00
Sweden (SEK)NZD 4.00
Denmark (DKK)NZD 4.00
Poland (PLN)NZD 4.00
Norway (NOK)NZD 4.00

Although we appreciate the straightforward manner in which these fees are incurred, by comparing the rates with competitors, we realise that the rates they offer are sub-par in comparison with competitors like Currencyfair or Transferwise.

From UK to USA

MerchantGBP 1,000.00 to USD Rate Rating
1,269.70 1.2737
CurrencyFair Review
1,274.89 1.2813
TransferWise Review
1,259.52 1.2813
World First Review
1,269.70 1.2748
OrbitRemit Review
1,271.60 1.2716
Small World FS Review
1,263.57 1.2674
WorldRemit Review

From UK to Europe

MerchantGBP 1,000.00 to EUR Rate Rating
1,188.00 1.1910
CurrencyFair Review
1,188.53 1.1945
TransferWise Review
1,174.19 1.1945
World First Review
1,182.55 1.1873
OrbitRemit Review
1,189.80 1.1898
Small World FS Review
1,177.87 1.1814
WorldRemit Review

From UK to Australia

MerchantGBP 1,000.00 to AUD Rate Rating
1,685.00 1.6890
CurrencyFair Review
1,684.77 1.6967
TransferWise Review
1,667.81 1.6967
World First Review
1,678.76 1.6855
OrbitRemit Review
1,590.50 1.5905
Small World FS Review
1,687.32 1.6890
WorldRemit Review

OrbitRemit Supported Currencies:

Australian Dollar

Bangladeshi Taka

Danish Krone

Euro

Fijian Dollar

Indian Rupee

Indonesian Rupiah

Malaysian Ringgit

Nepalese Rupee

New Zealand Dollar

Norwegian Krone

Philippine Peso

Polish Zloty

Pound Sterling

Sri Lankan Rupee

Swedish Krona

US Dollar

Vietnamese Dong


OrbitRemit Offices:

As you saw already from the countries from which you can send money, in the Fees section of this article, OrbitRemit has offices in three main countries: UK, Australia and New Zealand (Headquarters).

  • OrbitRemit London

    216/22 Highbury Grove

    Islington

    London, England N5 2EF

    United Kingdom

  • OrbitRemit Sydney

    L8, 49-51 York Street

    Sydney, New South Wales NSW 2000

    Australia

  • Headquarters Wellington

    Lvl 1, 182 Vivian St

    Wellington,

    New Zealand


Regulation:

OrbitRemit is registered as an authorized payment institution with the Financial Conduct Authority (FCA) in the United Kingdom, and a financial service provider with the Financial Markets Authority in New Zealand and Australia.

OrbitRemit banks with Metro Bank in the UK, TSB Bank in New Zealand and G&C Mutual Bank in Australia.


OrbitRemit Mobile App:

orbitremit-app-screenshotios-app-screenshot

Like most of the remittance companies, OrbitRemit has also developed an app for the growing market of mobile devices. It is available on both Android and iOS, and can be a good solution for sending money when you’re on the move.

This is not the best app I’ve seen to be honest; the 3.6 rating from Google Play is backing my opinion, and the Apple App Store doesn’t have enough reviews to calculate a rating for it. But from those that are posted (there are only two of them at the time of this review being published) the feedback is far from positive.

If you want to check it out on your own, here are the links for Android and iOS.


Registration Process:

The registration is easy, you can have your whole account set up in just a few minutes. As with every signup process, the first thing to do is fill in your email, choose your password, and select your country: UK, Australia or New Zealand.

* This are the only 3 possible countries that OrbitRemit supports.

email signup

After you submit this information, your account is ready made, and you will instantly receive an email of confirmation like the one below:

2-email

The next step is to go to your freshly made account by clicking the “Complete your profile” or if you remained in the browser tab, you will be already redirected there.

Once you do so, click on the “Complete your profile” link to start adding your personal details.

* Not a particularly easy to see button so I will add a quick screenshot here:

3-complete-your-profile

Here you will need to enter all the usual details, like your full name, phone, date of birth, occupation, and residential address. Underneath, you will need to check out one or both boxes like in the picture below. If you check the second box, you will also need to add your business legal name and incorporation number:

4-other-info

After this is completed, you will need to upload proof of your identity and address by providing the following:

In order to verify your identity, you must provide one of the following:

  • A copy of your current driver’s license.
  • A copy of the photo page of your current passport.

In order to verify your address, you must provide one of the following

  • A recent (must be dated within the past 3 months) bank statement with your current residential address, matching the address you have provided OrbitRemit.
  • A recent (must be dated within the past 3 months) utility bill statement with your current residential address, matching the address you have provided OrbitRemit.

News and Articles:

The OrbitRemit website has a blog where they post content related to the Finance sector or helpful articles for better use of their service. They post on average 1-2 articles per month, so be sure to check it from time to time to get more insights about the platform and market. Overall we can say their site is friendly and helpful as expected from a startupish money transfer company.


Support:

If you have any questions about OrbitRemit, be sure to visit their FAQ section, the blog, or you can call them directly, depending on your location, on one of this numbers:

For UK: +44-800-622-6435

For Australia: +61-3-5294-0380

For New Zealand: +64-800-672-484


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