WorldRemit Review [2024]: Transfer fees, exchange rates and speed
WorldRemit was founded in 2010 by someone living overseas, frustrated by the complicated and expensive process to remit money home. It’s on a mission to make it easier to send digital payments on popular remittance routes, covering 130+ countries and 70+ currencies globally. Pay out options are optimized to include bank or mobile money account deposits, cash collection and delivery and even airtime top up. Fees, features and services vary depending on the destination country.
Read on for our WorldRemit review covering the fees you pay, whether it’s safe to use, how fast it is, how to get set up, and more
WorldRemit: Key points
Key features:
- International transfers to 130+ countries
- Pay out options include bank and mobile wallet deposit, airtime top up, cash collection and cash home delivery
- Intended for personal transfers only
- Fully digital service, online and in-app
- Fee schedule varies based on the value of payment, pay in and pay out method, as well as destination
Key stats
Established in: 2010
Send money to: 130+ countries, 70+ currencies
Customers: 5.7 million
Payout options: 5 available: bank and mobile wallet deposit, cash collection and cash home delivery, and airtime top up
Speed: 95% of payments arrive in minutes
| WorldRemit pros | WorldRemit cons |
|---|---|
| ✅ Good range of supported countries and currencies ✅ Lots of pay out options available ✅Get an instant quote for the fees and exchange rates online and in app ✅ 24/7 support available ✅ No minimum transfer amount | ❌ Exchange rates include a markup ❌ No business services ❌ Not all delivery methods are available in all countries ❌ Fairly low maximum transfer amounts |
Overall: WorldRemit is a flexible and popular way to send payments from the US to 130+ countries around the world. The sender can set up the payment online or in-app and then choose from an impressive array of 5 pay out options. Not all pay out methods are available in all destinations, but the options can include deposits to bank and mobile money accounts, airtime top up, or cash for collection or delivery. That makes it easy to reach people – even if they may not have convenient access to a bank or ATM.
WorldRemit is good for
- Sending money to over 130 countries
- Instant money cash pick ups or mobile money
- Being transparent with transfer fees
- No minimum transfer amount
How much can I save with WorldRemit?
Sending a payment with a specialist service can work out to be more convenient and often cheaper than using a bank. However, the exact costs of different transfer services vary, and can also vary depending on the currencies and values of payments involved. To illustrate this, we looked at WorldRemit compared with a bank – Chase – across a few different payment values.
As you’ll see, WorldRemit typically beat Chase over lower value transfers, but Chase became more cost efficient over higher value transfers. Before you decide which payment service to use, compare a few for your specific transfer to see which wins, including a few different international transfer providers and some banks.
Here’s what we learned in our comparison:
| Transfer details | With WorldRemit your recipient gets | With Chase your recipient gets | Result |
|---|---|---|---|
| Sending 500 USD to AUD | 739.62 AUD | 734.17 AUD | Your recipient could get more with WorldRemit |
| Sending 1,000 USD to AUD | 1,479.25 AUD | 1,475.88 AUD | Your recipient could get more with WorldRemit |
| Sending 5,000 USD to AUD | 7,396.23 AUD | 7,448.92 AUD | Your recipient could get more with Chase |
| Sending 10,000 USD to AUD | 14,792.46 AUD | 14,897.84 AUD | Your recipient could get more with Chase |
What is WorldRemit?
WorldRemit is an online money transfer company that allows you to send money to your loved family and friends around the world.
WorldRemit allows people to collect money transfers through a wide range of options. These include cash pick ups, mobile wallets, top up mobile airtime, bank transfers, and door to door delivery.
Transfer money for bank deposit
Send payments for deposit in bank accounts around the world. Most transfers are deposited in a day or two, although the final deposit time does depend on the country you’re sending to. This is often one of the lowest fee options with WorldRemit.
Good for: Low cost payments to people who can easily access a bank account
Send money for cash collection or home delivery
WorldRemit payments can be collected in cash at a local agent location in many countries, and in a handful of places you can also have the money delivered to the recipient at their home. The cash collection option is fast – often the funds can be released within minutes of the payment being set up.
Good for: Quickly getting cash to someone who can’t easily get to a bank or ATM
Transfer money to a mobile money account
In some countries, WorldRemit offers instant transfers to a mobile money account. Mobile money accounts are popular because funds are deposited instantly, into an account linked to the recipient’s mobile phone.
Good for: Quick transfers to regions where mobile money accounts are popular
Send money for airtime top up
The final delivery option with WorldRemit is to have your sender receive the money in the form of mobile data or airtime top up.
Good for: Topping up someone’s phone data from the other side of the world.
Is WorldRemit available in the US?
Yes. You can send payments from the US to 130+ countries with WorldRemit.
How does the WorldRemit app work?
When you have an account with WorldRemit, you can make transfers through their website or through the Apple and Android apps.
The WorldRemit app is easy to use and it makes sending and receiving money easy to do anywhere. Once you have downloaded the app and registered with WorldRemit, it’s easy. You need to select how you wish to pay for the money transfer, select who you want to pay and which way they would like to receive the money. It is very quick after the initial set up and first send. This is why it is ideal for sending smaller amounts to family and friends anywhere around the world.
Ways to send money with WorldRemit:
- Send payments online
- Sent payments in the WorldRemit app
Is WorldRemit safe to send money?
Yes. WorldRemit is fully regulated in the US, FinCEN registered and holds licenses in states where licenses are required. It’s also overseen by global bodies which means they have to meet strong rules and regulations.
Learn more about their safety: Is WorldRemit safe?
Is WorldRemit legitimate and safe?
Yes. WorldRemit has been in business for 10+ years, and served 5.7 million customers globally. It’s fully licensed and regulated everywhere it operates.
How much does WorldRemit charge to send money overseas?
The WorldRemit fees you pay depend on how you want to pay, how you want your payment to be collected, where you’re sending to and the value of your transfer. You’ll need to visit the WorldRemit website to see exactly how much you will pay for your transfer fee with their easy-to-use online calculator.
In general, paying by bank transfer may be cheaper than paying with a card. Particularly, paying with a credit card will mean you incur an extra fee from your own card issuer – a cash advance fee. In total you may find a few different costs with WorldRemit, depending on how you set up your payment. These fees can include:
- Transfer fee – this is clearly shown and easy to understand
- Exchange rate markup – a percentage added onto the rate used
- Third party costs – such as a cash advance fee from your credit card
We’ll look at the exchange rates available from WorldRemit next – it’s also worth checking if your preferred payment method will incur any extra fees from third parties. These fees aren’t paid to WorldRemit, so you’d need to check with your bank or card issuer.
WorldRemit exchange rate
Exchange rates used by WorldRemit may include a markup that’s been added onto the mid-market rate. The markup is a percentage charge, which is variable and may change depending on the specific details of your transfer. You’ll need to compare the WorldRemit exchange rate for your transfer against the mid-market exchange rate to be able to spot this fee.
Compare their rates here: WorldRemit exchange rates
How long does it take to receive money with WorldRemit?
International money transfers with WorldRemit can happen instantly or up to 4 working days. There are a few issues that will affect the speed of the transfer.
These include:
- the currencies you’re moving money between
- the countries where the money needs to be sent
- when you’re sending money
- how you’re sending the money
Cash pick ups, mobile money, airtime top ups tend to happen instantly or up to 10 minutes.
Bank deposits can be transferred within minutes to selected banks or up to 4 days. Bank transfer timings depend on:
- the bank
- day of the week
- transaction creation time
Home deliveries can take between 1 to 7 days depending on the location.
How to use WorldRemit
You can send money with WorldRemit online or in app. You’ll need to register an account and get verified first, by uploading some ID. However, once you’re all set up, the process to send money is quite simple and convenient. Let’s look in more detail.
How do I send money with WorldRemit?
It’s simple to send money with WorldRemit.
- Create your account. Register online and download the app
- Tell them your transfer details
- Choose the country you need and the transfer method
- Choose how much you want to transfer. You’ll see the transfer fee and exchange rate upfront
- Add the details of the person you want to send money. If you sent money before then you can choose from the people you’ve sent money to before
- Pay for your transfer. Payment methods will vary by country
The details you’ll need when you’re sending money
When you want to send money, WorldRemit will need a few details, including:
- The amount of money you’re sending
- The countries you’re sending money from and to
- The currencies that you’re sending money between
- The name and address of the person you are sending money
- Bank account details of the person you are sending money (for bank deposits)
The bank account details you’ll need vary between countries, but typically you’ll need to provide the sort code or routing number and the account number. In some cases, you’ll need to provide a SWIFT code or IBAN (International Bank Account Number.)
Ways to pay WorldRemit
You can pay for your WorldRemit transfer by credit or debit card, or with a bank transfer.
How to create an account
WorldRemit does need some details if you want to create an account and send money overseas:
- Your full name and contact details
- Government issued documents to prove your identity
They can not complete your transfer until your ID is verified.
What documents you’ll need
The documents you need can vary and can include both a proof of ID and a proof of address. For example, you may need:
- A passport
- A US Green Card
- A driving license
- A visa showing your legal residence in the US
If you are providing photo ID, it needs to include the following:
- Your photograph – high quality image required
- Your full name
- Your date of birth
- The expiry date (it must be valid)
- The two lines of letters and numbers at the bottom of the document (The MRZ)
If you are proving proof of address, it needs to include the following:
- Your full name
- Your full current residential address
- They need to see the full document including all four corners
- The document must be registered in the State your account is registered in
How long does WorldRemit verification take
WorldRemit verification can often take just a few minutes if it can be done electronically. If it can not be done quickly you’ll be asked to provide more information or documents, and told what the next steps and timelines are.
Do I need a bank account for WorldRemit?
To send a payment with WorldRemit you need a bank account or a payment card to fund your transfer. To receive money with WorldRemit you do not need a bank account as WorldRemit supports several alternative options such as cash collection or delivery.
Ways to receive money from WorldRemit
There are lots of ways to receive money through WorldRemit, they include:
- Cash pick up
- Deposits to a mobile wallet
- Top up mobile credit through airtime
- Deposits to a bank account
- Door to door delivery
Not all options are available in all destination countries.
WorldRemit limits
From the US your payment limits for card and Apple Pay transfers are usually:
- All card types and Apple Pay: 9,000 USD per 24 hoursSingle payment limit: 5,000 USD with a card, 300 USD with Apple Pay
Different limits may apply if you pay by bank transfer – these will be shown on screen when you set up your transfer.
WorldRemit minimum transfer
There’s not usually any minimum transfer with WorldRemit – if there is one for your specific payment route it will be shown on screen.
WorldRemit supported currencies
WorldRemit allows you to send payments to 130+ countries from the US.
WorldRemit accessibility
WorldRemit is available online and in an app, and you can get help by phone, toll free from the US. Chat is available in app in multiple languages.
Trustpilot customer reviews about WorldRemit
WorldRemit scores 4 out of 5 stars on TrustPilot, which aggregates live customer review data. That’s a Great review.
Over 70% of customers give a 5 star review, while 12% gave the worst available review score. Customers comment positively on the speed of the service. Where customers have been less impressed, it is sometimes related to technical problems with WorldRemit. The company is active on TrustPilot and does reach out to customers posting about issues there to offer support.
WorldRemit contact details
- 365 days a year
- Phone: US +1 855 383 7579
- Live chat available online
WorldRemit alternatives
If you’re looking for something different, you may want to look at any of these WorldRemit alternatives:
WorldRemit vs Wise – Wise uses the mid-market exchange rate and splits out the costs of your payment overseas, which can make it easier to check and compare the costs
WorldRemit vs Remitly – Remitly could be worth comparing as they offer similar services to WorldRemit including payments to be collected in cash, home delivered or deposited to a mobile money account
WorldRemit vs Xe – Xe Money Transfer can help you send payments more or less anywhere in the world
WorldRemit vs TorFX – TorFX is UK based and offers international transfers and currency risk management services.
Conclusion: Is WorldRemit a good way to transfer money?
WorldRemit can be a good option for sending lower value payments in particular. The services are optimized to allow people sending money to loved ones at home to do so conveniently and quickly, with a good range of pay out options designed to reach even people who can’t get to a bank or ATM easily. Bear in mind that the range of pay out options available varies based on the country you’re sending to – the features and fees can also vary a bit depending on your specific transfer.
Use this guide to decide if WorldRemit is right for you, and don’t forget to compare some WorldRemit alternatives to see what else is on offer.
WorldRemit money transfer review FAQs
Is it safe to transfer money with WorldRemit?
WorldRemit is FinCEN registered and holds licenses in states where licenses are required. It’s also overseen by global bodies which means it’s safe to use.
How does WorldRemit apply exchange rates?
WorldRemit adds a markup to the mid-market exchange rate to calculate the rate used to convert customer payments for deposit. To see this you’ll need to compare the WorldRemit rate with the mid-market rate you can find on Google.
Does WorldRemit have a mobile app?
Yes. WorldRemit has well rated apps on both Apple and Android phones.
Is WorldRemit legit?
Yes. WorldRemit has been in business for 10+ years, and served 5.7 million customers globally. It’s fully licensed and regulated everywhere it operates.
