WorldRemit Money Transfer Review

Company name: WorldRemit Ltd

Service description: Bank to bank international money transfers via online platform.

Website address: www.worldremit.com

Website Languages: English, French and Spanish.

Review Summary: WorldRemit is a convenient service that allows people to send money online to friends and family living abroad in form of bank deposit, cash pick-up, Mobile Money, or mobile airtime top-up; but it has many amount limitations for most of the countries.

Recommendation: Similar to Transferwise. Fair option for cash remittances, and not halfway as cheap as Currencyfair for bank transfers.


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WorldRemit Fees:

The fee structure differs a lot from country to country, and even more when picking the destination and way of receiving money (Bank transfer, cash pickup, airtime, etc.). So, in order to find out the exact fee for your needs, you will need to use the Send from / Send to calculator on their website.

For the most used queries, here are the fees:

  • 2.99 Pounds per transfer from the UK.
  • 3.99 Australian Dollars from Australia.
  • 3.99 US Dollars from the USA.
  • 9.99 Canadian dollars from Canada.
  • 3.99 Euros from a European country.

View how it compares with competitors below:

From UK to USA

MerchantGBP 1,000.00 to USD Rate Rating
1,235.10 1.2391
CurrencyFair Review
1,236.14 1.2424
TransferWise Review
1,221.23 1.2424
World First Review
1,225.38 1.2303
OrbitRemit Review
1,244.10 1.2441
Small World FS Review
1,230.00 1.2337
WorldRemit Review

From UK to Europe

MerchantGBP 1,000.00 to EUR Rate Rating
1,167.80 1.1708
CurrencyFair Review
1,170.22 1.1761
TransferWise Review
1,156.11 1.1761
World First Review
1,161.24 1.1659
OrbitRemit Review
1,178.50 1.1785
Small World FS Review
1,164.60 1.1681
WorldRemit Review

From UK to Australia

MerchantGBP 1,000.00 to AUD Rate Rating
1,605.30 1.6093
CurrencyFair Review
1,604.69 1.6160
TransferWise Review
1,588.53 1.6160
World First Review
1,596.79 1.6032
OrbitRemit Review
1,522.00 1.5220
Small World FS Review
1,615.26 1.6169
WorldRemit Review

WorldRemit Supported Currencies:

WorldRemit offers money transfers to more than 110 countries, and allows transfers from 50 countries, but because of the many limitations and different options for receiving money, they don’t tell exactly which currencies they offer. You will have to, again, go to their calculator and simulate your desired path (Send from -> Send to) in order to find out if the local currency is supported.

I will give you an example to better understand why you really need to use the calculator every time before making any plans: Sending from the UK to Romania.

If you send money from the UK to Romania, you will have 3 options for receiving that money:

  1. Bank Deposit – You can only receive the money in Euros.
  2. Cash Pickup – You can only receive the money in Euros.
  3. Mobile Money Transfer – You can only receive the money in RON (Romanian Leu).

WorldRemit Offices:

With six offices on 4 different continents, WorldRemit is clearly a company that can handle international clients from all around the world. This is truly important because every culture has its own differences and ways of doing business. If you read our guide on Business Etiquette Around The World you will see how different the Japanese and US business cultures are, for example.

  • WorldRemit Headquarters

    62 Buckingham Gate

    London, England SW1E 6AJ

    United Kingdom

  • US Office

    600 17th Street

    Suite 200S

    Denver, Colorado 80202

    United States

  • Canada Office

    1000 rue de la Gauchetiere Ouest

    Suite 2400, 24th floor

    Montréal, Quebec H3B 4W5

    Canada

  • Japan office

    Ark Mori Building 12F

    1-12-32 Akasaka, Minato-ku

    Tokyo, Tokyo 107-6012

    Japan

  • Australia Office

    Level 16

    1-7 Castlereagh Street

    Sydney, New South Wales NSW 2000

    Australia

  • New Zealand office

    41 Shortland Street

    Plaza Level

    Auckland, Auckland 1010

    New Zealand


Regulation:

WorldRemit Ltd is authorized and regulated by the Financial Conduct Authority (FCA) under the Payment Service Regulations 2009 for the provision of payment services. This is a seal of trust, so you can know that you’re working with a real, registered, and regulated company and your money are safe with them.


WorldRemit Mobile App:

worldremit-androidworldremit-ios

Globally, the use of mobile devices connected to the Internet has grown  substantially in recent years. WorldRemit has also focused on developing an app for its service. At this point, it seems that all companies understand the potential and the huge number of clients whose only connection to the Internet is their mobile phone (especially people from African countries).

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


Registration Process:

The registration process is fairly standard. It starts by pressing the Sign Up button that will redirect you to a form where you have to add the usual details like: full name, email address, and your desired password:

1-personal-details

Then you will be redirected to their homepage, where you can already access your account. In the meantime, you will receive an email where you will find a code for your first transfer (Promo code: FREE), which will entitle you to one fee-free transfer.

2-email-blurred

 

The next step is to make your first transfer by selecting to what country you want to send money to (select it from the drop down menu) and enter the amount:

3-transfer-calculator

After you press SEND you will taken to a new form where you need to add the recipients details like: bank, branch name, account number, transit code, full name, full address, email address and the sending reason (Family or friend support / Purchase of services / Property payment / Sending fund to self).

Click Next, and choose the payment option for the funds – usually the Debit/Credit card. Click Next again and you will have to enter more personal details like: gender, date of birth, full address, postcode and mobile phone number.

4-complete-details

And that’s about it. To be honest, I don’t particularly like their sign up process because it takes too many windows to enter your details. I think they could put more fields in their forms and reduce the number of steps because it creates the sensation of working too much for it.


News and Articles:

WorldRemit offers a News section on their website, where they publish all the new developments and successes of their service and platform. Every time they enter a new market, they announce it in this section, so keep an eye on it if WorldRemit does not yet support your country, so you can be updated about the progress.


Support:

If you have any problems with their service or have questions about WorldRemit, be sure to visit their FAQ section (for general questions), or fill the Live chat form and talk with an operator, or you can call them directly, depending on your location, on one of this numbers:

UK and rest of world

+44 (0)20 7148 5800

US and Canada

+1-888-772-7771

Canada (French)

+1-888-961-4869

Australia

+61 (02) 6145 2161

Denmark

+45 7879 2981

France

+33 272242117

Germany

+49 6933 399415

Italy

+39 06 94803110

Spain

+34 960473401

New Zealand

+64 (09) 8871710

Norway

+47 21 99 94 85

Sweden

+46 410880200

Japan

+81-3-4588-8160


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