WorldRemit vs Remitly – 7 Things You Need to Know

WorldRemit and Remilty can be great alternatives to services like WesternUnion, Ria and Moneygram especially if you are serious about saving money. In this post, we will show you which has generally lower fees and look into 3rd party reviews, transfer speeds and customer service.

WorldRemit and Remitly are both big players for international money transfers.

Remitly VS WorldRemit

Their strengths include fast transfers at bank beating rates to a large number of countries with a variety of payout methods.

But here’s the thing: WorldRemit Vs Remitly suits different folks better. The best option for YOU will depend on your specific needs and what they provide.

But wait there’s more 🙂

These are not the best options in every situation and we will suggest alternatives where it makes sense!

Let’s get stuck into it.

Disclosure: This post contains affiliate links which can save you money but don’t cost you anything. For more information, see my disclosures here.

1. Quick Comparison

At a glance, it may seem like WorldRemit and Remitly offer the same service – fast international money transfers at low cost.

While they offer many of the same services, the big differentiator is the folks they serve.

In a nutshell: Both are leaders when it comes to smaller amounts including bank transfers, mobile wallet transfers and cash pick up. Remitly offers home delivery while WorldRemit offers prepaid mobile top ups. In our testing WorldRemit offered slightly lower fees and also offers a business option.

Don’t miss: “Where Neither is Best” section below

With WorldRemit in your country you can also get the the first 4 transfers free (using the code ‘4FREE‘*).

*T’s & C’s: 4Free applies to the below send/receive countries

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

Meanwhile Remitly has a you can see what you will pay on desktop or get the App for mobile – iOS or Android.

WorldRemit (review) is focused on making international money transfers fast, easy and flexible at bank-beating rates for everyone in the 50 sender countries they support to 130 receiving countries.

With Remitly (review), immigrant workers can send money fast and affordably from 28 sending countries to family and friends in 130 receiving countries.

WorldRemit

WorldRemit Likes:

  • More sending countries and currencies supported 
  • Flexibility – send money to bank accounts, mobile wallets, and cash pick up locations
  • Instant top up for prepaid mobiles with AirTime

WorldRemit Dislikes:

  • Complex fee structure
  • No business accounts

Remitly

Remitly Likes:

  • Flexibility – send money to bank accounts, mobile wallets, and cash pick up locations
  • Two options to send money: Express (faster and more expensive) and Economy (slower but cheaper)
  • Cheaper to send $1000+ to some locations

Remitly Dislikes:

  • Complex fee structure
  • No business accounts
  • Limited availability

* When Neither is Best

If you like WorldRemit or Remitly BUT you can transfer from a bank account to a bank accountWise (review) offers a simple and more transparent service which we think is the best way to go for transfers below $7000 USD/ 4500 GBP.

Above $7000 USD/ 4500 GBP other services can be even cheaper and importantly have telephone based customer service which can be a big deal for larger amounts. OFX (review) (Worldwide), TorFX (review) (Australasia) and Currencies Direct (review) (America and Europe) reduce the fees in percentage terms as the amounts rise.

To decide between the two: OFX balances online with telephone support while TorFX and Currencies Direct (owned by TorFX) focuses on exceptional telephone service mostly. Moreover, neither WorldRemit nor Remitly offer business transfers but all the recommendations above do.

2. Costs and Fees (+ Hidden Fees?)

WorldRemit

  • Fees depend on sending country, target currency, amount and payout method
  • WorldRemit charges a flat service fee (ranging between $1.99 USD or equivalent to $12.99 USD)
  • Mobile wallet payments are cheapest, followed by cash transfers and bank transfers
  • Can check a breakdown of fees before you sign up for an account

Hidden Fees?

Additional fees may include sending and receiving fees charged by banks, agent fees, and cash advance fee for transfers funded by credit cards

Remitly

  • Fees depend on sending country, amount, currency, and service (Express or Economy)

Express: Express services are more expensive because they’re funded by a debit or credit card (credit card issuer charges cash advance fee)

Economy: The economy service is cheaper and Remitly waives the service fee of $3.99 USD if you send more than $1000 USD via this service

  • Remitly also charges a margin on the exchange rate and a service fee that depends on the currency and service (usually $3.99 USD or equivalent if sending less than $1000 USD)
  • Can’t see fees or exchange rate without signing up

Hidden Fees?

Apart from the cash advance fee for Express transfers, watch out for fees charged by sending and receiving banks and cash pick up agents.

3. Safe?

WorldRemit

  • WorldRemit is regulated by the financial institutions of the countries where it operates. For example, the company is licensed as an Electronic Money Institution and is regulated by the Financial Conduct Authority (FCA). Even in other countries, WorldRemit is registered with relevant financial regulatory bodies. In New Zealand, WorldRemit is registered with FSPR and in Australia with AUSTRAC. It is also registered with all states in the USA which makes it up being a great service for American residents.
  • Customer funds held separately from operating funds – just like high street banks 
  • Focus on security across platforms:
    • All user identities are verified before they can start using WorldRemit
    • Communication between the app and the online platform are encrypted
    • Machine learning and manual audits are used to detect fraud, money laundering, and phishing
  • Photo ID and transfer reference needed for cash pick ups

Remitly

  • Remitly is registered with the U.S. Dept. of Treasury as a Money Services Business and licensed in all U.S. states as a money transmitter. They’re also regulated by the FINTRAC in Canada, the FCA in the UK, the Central bank of Ireland for European countries, and the ASIC in Australia.
  • All new user accounts are verified to comply with Remitly’s regulations
  • They use Socket Layer (SSL) with 256-bit encryption to protect your personal data and money 
  • 100% satisfaction guarantee clause – this means you’ll receive a full refund if you cancel a transaction. They also refund the transfer fees if your money is delivered but you’re dissatisfied with their service
  • Also needs a government issued-ID and transference reference for cash pick ups

4. Reviews (inc. Negative Ones) – What Others Are Saying

WorldRemit

WorldRemit is rated 4.1/5 on Trustpilot, which is considered “Great.”

Positives

  • Fast transfers
  • Easy to understand process – even for beginners 

I am amazed that within minutes of initiating the transfer from UK the money was deposited into the recipient account. The recipient’s account was in a Indian bank (Kotak Mahindra) that was partnered with WorldRemit.

– Shreyas R on Trustpilot

I had never sent money overseas until I made a transaction on World Remit. The process was completed in a timely manner, and was easy to understand on the website. They kept me informed every step of the way until the money was received on the other end. Thanks for a painless process.

– Robert A on Trustpilot

Negatives

  • Canceled or delayed transfers

Some users were disappointed when their transfers were canceled or delayed – and this can be due to a number of reasons:

  • Going over the prescribed limit (varies by country)
  • Sending a business payment (only personal transfers are supported)
  • Setting up a transfer on a holiday or a weekend (Transfers are processed faster during regular banking hours. Transfer speed also depends on the location and funding method)

Remitly

Remitly is also rated 4.1/5 on Trustpilot, which is considered “Great.”

Positives

  • Fast and affordable money transfer for immigrants
  • Trustworthy service – keeps their “100% satisfaction guarantee promise”

Remitly is the easiest fastest way to send cash to my family in Kenya and it takes about five minutes for me to complete the process and for them to receive the cash through Mpesa on their phones! My mother can go to the supermarket knowing that by the time she is done picking items, I will have sorted her because it’s instant and convenient.

– Damirs Weche on Trustpilot

I have been using this app for about 3 months to send money to Cambodia. It is fast, reasonably priced, and most importantly trustworthy. I had to cancel a remittance once and they immediately stopped the payment and sent me an email saying they would be credited back to me in 10 business days. But, it was back in my account in 2 days and this was a weekend. I highly recommend this app.

– Andrew on Trustpilot 

Negatives

  • Transfers delayed or suspended

It’s always stressful when your transfer is delayed or suspended – on Remitly, it’s usually due to the following reasons:

  • Going over the daily, weekly, or monthly limits – Learn more about Remitly’s limits here
  • Account unverified before transfer
  • Transfer being audited for compliance
  • Unusual account activity (for example, sending a large amount when you usually send micro transfers)

The good news is, if your transfer doesn’t go through, Remitly refunds the whole amount according to their 100% satisfaction guarantee clause. And if the money reaches, but you’re still dissatisfied with the delay, Remitly usually refunds the transfer fees.

5. Ease of Use

WorldRemit

  • Scores 4.8/5 on Google Play
  • Scores 4.7/5 on App Store
  • Easier to check rates without signing up
  • Transfers supported to 130 locations, including among the 50 sender countries supported for registration
  • Many payout methods
    • Banks transfers
    • Mobile Wallet transfer
    • Cash pick ups
    • Prepaid mobile top up
    • Door-to-door delivery (only in Vietnam)

Remitly

  • Scores 4.8/5 on Google Play
  • Scores 4.9/5 on App Store
  • Can’t check rates or lock in exchange rates without signing up
  • Remitly doesn’t support transfers between its 28 sender countries
  • Also supports many funding methods:
    • Card (debit, credit, and prepaid)
    • Bank transfers
    • Klarna/Sofort – Austria and Germany
    • iDeal – the Netherlands
    • Passbook – the US
    • SEPA transfers – France
  • Also offers multiple payout methods
    • Banks transfers
    • Mobile Wallet transfer
    • Cash pick ups
    • Prepaid mobile top up
    • Door-to-door delivery (available in Dominican Republic, Philippines, and Vietnam)

6. Transfer Speeds

WorldRemit

  • Cash transfers: In minutes to a few hours
  • Mobile wallet transfers and Airtime top ups: Instant
  • Bank transfers: From a few hours to a few days (2-4 days)

Transfers with major currencies (like USD, GBP, AUD, etc.) are processed quicker, while regulated currencies like the Chinese Yen may take longer.

Remitly

  • Express transfers (cash and bank): In a few minutes
  • Economy (bank transfers): 3-5 days (depends on the location)
  • Mobile wallet transfers: Instant

Your recipient can also track the transfer, which minimizes a lot of back and forth.

Remitly also notifies you if your transfer is on hold, under review by their partner in the recipient country, or if you’ve made any changes to your recipient’s details.

Lastly, Remitly refunds the transfer fees (but not the margin on the exchange rate) if your money doesn’t arrive on time.

7. Customer Service and Support

WorldRemit

  • Extensive country guides in FAQs with specific information on fees, limits, funding methods, regulations, etc.

Remitly

  • 24×7 live chat in English, French, and Spanish
  • 24×7 phone support in English and Spanish
  • Country-specific guides in FAQs (search answers in 15 languages)

Verdict

With 1 win for Remitly for being more multilingual and 5 ties in other categories, it’s really depends on your needs.

No one service is best for all.

However WorldRemit may be better for you because they’re available in more countries. They also tend to have lower fees for sending cash if that’s your priority, but you should check for your circumstances. We also like that WorldRemit also offers 4 free transfers (using the code ‘4FREE‘*). *They have some T’s & C’s – click link to see if you can get it!

On the other hand Remitly is your maybe your best choice if you are sending money home to family or friends and especially if you are sending more that $1000 (economy option) on occasion. And they have 24×7 multilingual customer phone support.

Really you unless you can send bank-to-bank as we discussed when neither is best (above) then we think these are both great.

Happy Transfers!

Which is better – WorldRemit or Remitly?

We found that WorldRemit serves far more countries and can do business transfers. However assuming you can apply for both – each has strengths the other does not especially when it comes to fees.

Are WorldRemit or Remitly better than WesternUnion, MoneyGram and Ria?

WorldRemit and Remitly have been designed from the ground up to be better than their older competitors. In practice, this means fees can be quite a bit lower which they have done by focusing on want most people want (rather than serving everyone).

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