WorldRemit Review

About Author: Hi, I’m Quinn Askeland. In 2014, I started Transumo after experiencing expensive, slow, and frustrating international money transfers and payments through banks. Once I discovered how to manage my own international currencies much better, I became driven to help others improve their transfers and payments. Fortunately, today, there are many excellent options. See My Full Bio.

WorldRemit is a great way to send more money home if you are serious about reducing fees. In this review, we’ll show you when WorldRemit works well and also some other options that may work well.

WorldRemit stands out as a good option for sending money abroad. It’s not expensive, and you can send even small amounts using their big network of local partners.

However, if you’re sending a lot of money, like thousands of dollars or euros, it might be cheaper to consider other providers. Flexibility and convenience are not free and you can often save money by using other options especially if you can use a bank for both sending and receiving the transfer.

In this WorldRemit review, I will discuss if WorldRemit is the best option for you, and uncover the fees, speed, security, and customer feedback including a deep dive into the negative reviews.

Let’s dive in!

Disclosure: This post may contain offers and affiliate links to save you money and it also helps us to keep providing the best information. For more information, see our disclosures here.

Lowdown

On Trustpilot, WorldRemit is rated 4/5 with over 66,000 reviews which is considered “Great.” The reviews show that WorldRemit is an easy, fast, and efficient way to send money worldwide.

1. What is WorldRemit (Really)?

WorldRemit is regulated in multiple countries to be an international money transfer service and can be your best option to save money on international transfers.

You can:

• Send cash to your recipient in minutes
• Pay overseas bills
• Send money to mobile wallets
• Send Airtime top-ups
• Set up bank-to-bank and card-to-bank transfers (even prepaid cards are supported, unlike most other services out there)

WorldRemit offers extreme flexibility in terms of payout, transfer, and funding options.

Another reason to try WorldRemit is that you can get 3FREE* transfers! (*click the link to see if you qualify)

But:

Their fees and limits is only ideal for relatively small transfers and there may be better options for you when it comes to bank-to-bank transfers.

WorldRemit supports registrations from 50 countries (including the UK, US, including the UK, US, Canada, Australia, and Eurozone) and lets you send money to 150 countries.

2. Is WorldRemit Right for You? (And When It’s Not)

WorldRemit is great for sending cash overseas. Plus, lower fees and great flexibility compared to traditional services like Western Union, MoneyGram, and Ria we have recommended WorldRemit for years.

But it’s also important that you know when WorldRemit may not be right for you (and which are the best alternatives we’ve tried here)!

2.1 When it Works

You want flexible transfer and funding methods

Although WorldRemit is best known as a service for sending cash, it also has many other transfer options.

This includes bank transfers, mobile wallet transfers, overseas bill payments, and prepaid mobile top-ups in some countries.

You also have a variety of funding options for your transfer. This includes bank transfers, cards (credit, debit, and even prepaid), Apple Pay, as well as country-specific methods like iDeal, Sofort, Klarna, etc.

You need to send small amounts in cash for personal transfers

WorldRemit supports international transfers to 150 countries worldwide and has an extensive network of local partners (like banks, pawnshops, and other third-party agents) for cash payouts.

This means you’ll easily find a cash pick-up center where your recipient can collect the remittance without any hassles.

You want to pay overseas utility bills

WorldRemit lets you pay overseas bills like gas, water, electricity, television, and other types of companies, on behalf of yourself or someone else.

This saves you the trouble of transferring the money to someone else and relying on them to make the payments.

You want to send money home quickly

Most WorldRemit transfers are settled pretty quickly (except bank transfers). The best way to send money fast with WorldRemit is to send cash or transfer to a mobile wallet.

2.2 When it Doesn’t Work

You want to send large international transfers

WorldRemit is not suitable for large transfers. Generally, we consider large transfers to be over $7000 USD/£4000 GBP/€4500 EU/$9500 CAD/AUD but WorldRemit actually places limits before this.

For transfers more than a couple thousand USD/GBP/CAD/AUD usually cash is not involved anyway and we would recommend alternatives in these situations.

You need a solution for small business transfers

WorldRemit doesn’t offer a dedicated business account at the moment.

If you’re a business that needs to accept multiple currencies or efficiently batch and process international transfers, WorldRemit is not for you.

2.3 Alternatives

If you’ve discovered that WorldRemit isn’t meeting your needs, here are our top Worldremit alternatives:

#1 Wise — Transparent International Transfer Fees and Multi-Currency Account

If your receiver doesn’t need cash pickup, then Wise is a great alternative to WorldRemit.

It’s our top choice for bank-to-bank or card-to-bank transfers because of its transparent and affordable fees structure for smaller transfers (below $7000 USD/£4000 GBP/€4500 EU/$9500 CAD/AUD).

Wise saves you money by offering the inter-bank exchange rate without charging a margin on top of that (unlike any other service out there).

But the best part to us is the transparency. You can see the exact amount your receiver will get right now on the Wise calculator here — no sign-up required! This means no surprise fees after your transfer has taken place.

Here’s what else we like about Wise:

• It works in many places: Sign up from 66 countries (including the US, Canada, the UK, Australia, and Eurozone) and set up transfers in 40+ currencies.
• Powerful multi-currency account for individuals and businesses: Hold, manage, and convert between 55 currencies.
• Get local bank account details from different countries like a US routing number, Euro IBAN, and more.
• MasterCard debit card linked to the multi currency account: Spend different currencies easily when shopping online or traveling.
• Business accounts feature: Invoicing features, make bulk payments, and manage different currencies at affordable exchange rates.
• Debit and credit cards are supported for funding transfers.

Wise is also one of our top recommendations for those needing a multi-currency account for personal or business use (a feature that is limited to only 1 country for WorldRemit).

You can learn more about Wise from our in-depth Wise review or the Wise multi currency account review.

#2 CurrencyFair — Most Affordable for International Bank Transfers

If you’re looking for the most savings for smaller money transfers, CurrencyFair does something unique.

But you can be sure you’re saving big on your transfer fees even when CurrencyFair steps in to complete the transfer at the best available rate.

As a bonus for our readers, you can save even more by clicking here to get your first 10 transfers fee-free!

CurrencyFair is available in 60 countries (including the UK, Australia, New Zealand, and Europe) and lets you send money to 150 countries worldwide.

Heads up: They don’t support registrations from the US or Canada.

Learn more with our CurrencyFair review.

#3 TorFX/Currencies Direct — Best Customer Service for Large Transfers

There’s nothing worse than not being able to contact customer service when you’re worried about a large sum transfer. And good service is where TorFX and Currencies Direct stand out from their competitors.

Both offer phone support and have a physical presence (offices) in many countries including the USA, UK and Australia which makes them reliable for your large transfers (both personal and business).

You can ask for help with anything related to your transfer. And this includes creating your account, getting updates on your large transfers, and even negotiating great exchange rates.

While they can deal in smaller amounts, we found that their rates are ideal for larger sums (over £4000 GBP/€4500 EU/$9500 AUD/NZD).

Both are owned by the same company, but operate in different regions:

• TorFX accepts registrations from: Australia, NewZealand, Europe, Singapore, or HongKong
  
  • AUS/NZ and Asia – Get a free TorFX quote online or by phone
    
  • UK and Europe – Get a free TorFX quote online or by phone

• While CurrenciesDirect is for customers from: US and Canada
  
  • Get a free Currencies Direct quote online or by phone

Find out more from our comprehensive review of TorFX and Currencies Direct review (links out to our in-depth reviews).

#4 OFX — Excellent all-rounder for Large Transfers

We personally would never transfer large amounts without easy telephone support.

(Large amounts are over $7000 USD/£4000 GBP/€4500 EU/$9500 CAD/AUD)

The reason is simple: banks have different transfer limits and regulations kick in as amounts increase (due to Anti-Money Laundering and Counter-Terrorism laws).

This can mean that delays and frozen accounts which can easily be sorted out by phone (as opposed to a chat bot).

So apart from a simple online platform, OFX has offices around the world with people you can speak to 24/7.

A huge advantage in our book, but that may not be the best bit.

OFX has a fee structure that means the percentage fees you pay reduce as the amounts increase.

They can charge a flat $15 USD fee for all transfers below $10,000 USD, but you can avoid this fee here.

It’s available for the residents of the US, Canada, UK, Eurozone, Singapore, Hong Kong, Australia, and New Zealand and supports transfers to 190 countries in 55 currencies.

Find out more from our OFX review.

#5 XE — Wide Currency Availability for Large Transfers

If you need support for both major and exotic currencies for your larger transfers, you can’t go wrong with XE.

It serves both individuals and businesses and keeps their fees affordable for transfers above $7000 USD/$8700 CAD/ £4000 GBP/€4500 EU/$9500 AUD/NZD.

XE offers registrations from the UK, US, Canada, Australia, New Zealand, and the Eurozone and lets you send large transfers affordably to 220 countries in 139 currencies.

Check out XE or learn more from our XE money transfer review.

3. Real Costs to use WorldRemit?

WorldRemit makes money in two ways: by charging you a transfer fee and through a margin on the exchange rate.

There are also potentially hidden fees that banks at either ends can charge.

The good thing about WorldRemit is that they tell you the exchange rate and transfer fee upfront, even before you are ready to transact. So, you can check out the rates and fees, and compare it to other services before you make a decision.

Transfer fees

WorldRemit charges you a transfer fee on each transaction, which depends on the currency you are sending, the amount and the delivery option. Usually, the fee for bank transfer is lower and it is higher for cash pickup and mobile wallet transfers.

The transfer fee can range from $0.99 USD to $5.99 USD depending on various factors such as the currency, country, amount, and delivery option.

Exchange rate

WorldRemit offers exchange rates that are much cheaper than what banks offer. Still, these rates are higher than the interbank rate, i.e. the rates at which banks buy from each other. This means, while you get a better rate than most banks offer, these are not necessarily the best rates.

The easiest way to work out if you are getting a good deal on the exchange rate or not you need to see how much money is going to actually arrive and compare that with other services like those mentioned above. You can get the amount that will arrive using their online calculator.

However our testing indicates the exchange rates they offer tend to be quite competitive at around 1% to 1.5%. Banks by comparison can charge more than double this percentage along with much higher transfer fees.

Hidden fees

If you are using a bank at either end then they may charge fees. Many people think this has nothing to do with WorldRemit but they can help to reduce and often eliminate these fees by having local bank accounts at each end. WorldRemit does not have a clear list of banks they work with which is one reason for bank-to-bank transfers we prefer other alternatives (above).

Other fees that might go unnoticed are credit card and debit card fees. For example, some credit card issuers may charge a fee as the transaction is classed as a cash transfer. Generally WorldRemit has nothing to do with these fees but needs to pass them on.

4. How to Use WorldRemit

Here is a fun video on how to sign up and send money or keep reading!

4.1 Does WorldRemit have an app?

WorldRemit’s app is available on both Google Playstore (rated 4/5) and the App Store (rated 4.7/5).

The app lets you set rate alerts, set up transfers 24×7, and track your transfer easily.

5. What do WorldRemit Customers Say (including Negative Reviews)?

WorldRemit is rated 4/5 on Trustpilot with over 66,000 reviews, which is a solid (but not awesome) score.

So investigating the negative reviews is important.

Any one star review in isolation can be just that – one unhappy person who wants to alert others.

However, we go far deeper and try to understand the cause – so you can avoid some issues.

Over 88% of their users had a positive experience (3,4 or 5 stars), while 12% had a “Bad” experience. 

Here’s what we found.

6. Are WorldRemit Money Transfers Safe?

7. How Fast is WorldRemit?

Verdict

There is no service that can cater to everyone. If you want to quickly transfer smaller amounts at a reasonable cost, WorldRemit is a good choice. And, it is particularly good if you need cash pickup.

They are also reasonably transparent about their fees and exchange rates, so you can easily make a comparison across services before you set up the transfer.

Lastly the WorldRemit app makes it convenient for you to transfer money on the go.

And they also have a coupon code here to get your first 3 transfers fee free. Use the code ‘3FREE’* and pay no fees on your first four money transfers.

* T’s & C’s: 3Free applies to the below send/receive countries

• Send: US, AU, CA, UK & FR
• Receive: PH, FJ, ZW, NP, GH, KE, CM, MA, CI & CD

However, it may not be your best bet if you need to make medium to large transfers, or if you need human help for your transactions.

In such cases, you can check out the alternatives (above).

Happy Transfers!