Compare the WorldRemit exchange rate margins in our calculator.
Compare WorldRemit money transfers
What is WorldRemit?
WorldRemit is a money transfer service provider that allows seamless services through its online platform. WorldRemit was launched in 2010 by Catherine Wines and Ismail Ahmed. Additionally, WorldRemit was established to reduce the highly expensive fees charged by other online money transfer service providers. Although WorldRemit is based in London, it has additional offices in the Philippines, Poland, New Zealand, Japan, Canada, Australia, and the US. WorldRemit can be accessed through the website or mobile app, making it easy for customers to initiate transactions.
How to calculate WorldRemit exchange rate fees?
With CompareTransfer you can compare the WorldRemit exchange rate margin and compare the real fees with over ten other money transfer providers. Read more about how we calculate the money transfer fees.
Is WorldRemit legit?
Yes. WorldRemit is a legit online money transfer company. For instance, in the UK WorldRemit, is regulated by the Financial Conduct Authority. In this case, the Financial Conduct Authority makes sure that WorldRemit operates strictly under relevant rules and regulations. Notably, connections made to WorldRemit through the mobile app or website are secured using a 256-bit SSL encryption. In New Zealand, WorldRemit is regulated by the Financial Service Providers Register. WorldRemit is also registered in Australia by the Australian Transaction Reports and Analysis Centre. Therefore, customers using WorldRemit will be assured that their transactions and personal information are protected.
From the year 2018, WorldRemit has increased its coverage in terms of those who can register and send money. Currently, WorldRemit supports more than 50 countries to make money transfers. Some of the significant countries supported by WorldRemit are the UK, Australia, Canada, the USA, and South Africa. Additionally, WorldRemit supports more than 140 countries in sending money abroad. WorldRemit uses the SWIFT network in facilitating fund transfer worldwide.
How does WorldRemit work?
If you wish to send money through WorldRemit, you will be required to sign up for your account. For you to sign up, you must satisfy the regulatory obligations imposed by WorldRemit. In this case, you must provide all the identity documents and personal information that is required. After your account has been verified, you can start transferring money immediately. With WorldRemit, you can either use the website or mobile app to sending money to your recipients.
To make money transfers using WorldRemit, you will be expected to follow the steps highlighted below.
- Enter the country you are sending money from and to.
- Enter the amount you wish to transfer.
- Enter the details of your recipient.
- Click on the send button so that you can receive the transfer costs
- You can pay for the transfers using bank transfer, debit card, or credit card.
WorldRemit Transfer fees
The transfer fees charged by WorldRemit vary depending on the country you are sending money to. However, in many cases, the transfer fees usually start from £0.95.
After you have set up your transfer and payment has been processed with WorldRemit, money transfer can be instant or take a maximum of two days. However, in many cases, the transfer speed depends on the method of receiving money. Some of the ways are highlighted below.
- Home delivery takes between 1 to 7 days but depending on the recipient’s location.
- Mobile money and Airtime top-up are instant or take a few minutes.
- Bank transfer is usually instant for some banks.
- Cash pick up is immediately available.
Payment methods accepted by WorldRemit
WorldRemit accepts various forms of payments, depending on where you are making your transfers from. For instance, from the US, WorldRemit agrees with the following payment methods.
- ACH transfer and wire transfer from a bank account
- Apple Pay
- Prepaid, credit, and debit cards.
On the other hand, if you are making payments from different parts around the world, WorldRemit accepts methods such as Trustly, iDEAL, Interac and Poli
WorldRemit Maximum Transfer Limits
WorldRemit has a minimum transfer limit of £1, while its maximum transfer limit is £50,000. However, the maximum transfer limit varies depending on the recipient country and mode of payment needed. If your limit is above the max transfer limit, you can either book multiple transfers, or use our calculator to find a provider which supports higher transfer limits.
- You can quickly see your transfer quote using the WorldRemit online calculator.
- There is no minimum amount that you can send.
- Offers competitive transfer quotes that are better than those offered at local banks.
- The user interface of the WorldRemit website is highly intuitive.
- WorldRemit does not offer financial advice
- WorldRemit does not provide a fixed transfer fee. Therefore, the transfer fees will be expected to change between various currencies
- WorldRemit provides a low maximum transfer limit.