WorldRemit was founded in 2010 by Somali entrepreneur Ismail Ahmed out of pure necessity for inexpensive and fast international money transfers. At the time, Ismaili was living in London and needed a better and cheaper solution than the local broker to send money back to his family in East Africa.
Twelve years later, WorldRemit is a global remittance company headquartered in London with regional offices in the Philippines, the United States, Nigeria, Poland, and Cameroon. They employ 1,000+ people across their offices and they’ve served 5.7 million customers in more than 130 countries around the world since their inception.
But is WorldRemit actually worth it? Is the company’s customer service and value for money up to snuff? And most importantly, is it the right fit for you?
These are all legitimate questions to have, especially given the variety of options on the market today when it comes to currency exchange, conversion, and money transfer. And this is why we have written this in-depth review that covers all things WorldRemit.
In the next few minutes, we will highlight everything you need to know about this company, its remittance process, and whether it’s a good fit for your specific needs.
About WorldRemit
Since its establishment in 2010, WorldRemit has grown into one of the most trusted and recognized international money transfer services the world has ever seen. WorldRemit makes it possible to citizens of more than 50 countries to send money in 70 different currencies to friends and family members in 130 countries worldwide.
Other than the most commonly used bank transfers, WorldRemit offers a diverse range of other transfer services to accommodate its customer base’s needs, including cash pickup, mobile money, airtime top-up, and a home delivery service where money gets physically delivered to your recipient’s home address.
In 2021, Canstar conferred WorldRemit the “Outstanding Value Award for International Money Transfers.” In addition, in 2022, the financial media website Investopedia named them “Best for International Transfers” as part of its Best Money Transfer Apps awards.
With that said, WorldRemit may not be for everyone. And as we’ll dig deeper in our review below, WorldRemit shines for a variety of factors among their millions of customers worldwide. For example, they get frequently praised for their quick money transfer service, but (as we’ll see in more detail below) their transfer fees and limits are only ideal for small transfers. This may be why you look at different money transfer services.
How does WorldRemit work?
The WorldRemit signup process is quick and straightforward. Simply choose the country from which you’ll be sending money, fill in your email address and password, and you’re done. Getting started with WorldRemit couldn’t be any easier.
You can now start setting up your first WorldRemit transfer by typing the amount you want to send in your currency, the currency you wish your recipient to receive the money on, and the delivery method (bank transfer, mobile money, cash pickup, or airtime top-up). From that point onwards, filling in the recipient’s information is just all that is left to do.
The WorldRemit desktop platform and mobile apps are highly reliable, efficient, and secure to set up small bank transfers, mobile money transfers, cash pickups, or airtime top-ups.
Below we have rounded up some more of the Pros and Cons that we have found to be important for the goal of this review.
Advantages and Disadvantages of WorldRemit
As the value of remittances around the world continues to rise, the number of cross-border digital payment services increases with it. However, Worldremit has managed to differentiate itself from other leading international money transfer services by focusing on speed of execution and low transfer fees on small transfer amounts.
In the following section, we’re going to peel off the layers of this interesting company and go deep into the most exciting aspects and those we didn’t find very appealing or that have been points of complaint by other customers. This is the perfect company to deconstruct.
Advantages of WorldRemit
- Delivery time and fees are always displayed before making a payment, even without signing up for an account through the calculator on their home page.
- The account creation process is among the quickest we’ve ever encountered.
- They offer 24/7 customer support in 6 different languages.
- They accept a wide range of payment methods, including bank account transfers, debit cards, credit cards, prepaid cards, Poli, Interac, iDEAL, Klarna, Apple Pay, Trustly, and mobile money.
- Their website and mobile apps are intuitive and easy to navigate.
Disadvantages of WorldRemit
- Their fee structure isn’t standardized across currencies, and it varies based on currencies, payment methods, and delivery methods.
- They have transfer limits depending on the country you’re sending from, the recipient’s country, and the payment method used to fund the transfer.
- Not all delivery methods offered by WorldRemit are supported in every country.
- They don’t offer business transfer services.
Detailed WorldRemit Review
The following section will look at WorldRemit’s reputation, how prior customers evaluated its services and features, and how well they fit your unique requirements.
Reputation, Track record, and Trust
WorldRemit’s history starts in 2010 when a Somali entrepreneur founded the company while living and working in London and needed a more straightforward, faster, and cheaper solution than the few local money transfer agents available back then who could help him send money to his family in East Africa. Since then, WorldRemit has grown into a globally recognized cross-border digital payment solution with more than 1,000 employees, almost 6 million customers served, and 90% (54K+) positive reviews on TrustPilot.
WorldRemit knows how much safety matters to its customers and has been very proactive in ensuring that its platform meets the highest security standards in the industry. They’re authorized and regulated by the Financial Conduct Authority (FCA) in the UK. They have both a 128-bit SSL encryption and a two-factor authentication process to protect all customer data and transactions. In addition, they’ve been awarded the ISO 27001 certification for their information security management system.
WorldRemit is your best bet if you’re looking for a reputable, trustworthy, and regulated digital payment platform to send money internationally.
Value for money
WorldRemit’s pricing structure isn’t the most straightforward, but it’s not complicated either. They don’t have any hidden fees, and their pricing is always transparent. The fees you’ll be charged for your transfer will depend on the amount you’re sending, the delivery method, the payment method, and the currency pair. When we compared their fees against other leading international money transfer services, we found that they were often cheaper but not always. They’re very competitive when it comes to small transfers.
Ease of use
WorldRemit’s website and mobile apps are very user-friendly and easy to navigate. The account creation process is quick and simple, and you don’t need to verify your identity to create an account. The type of verification they will need can vary depending on the amount you are sending and which country you are sending from. You will need to verify your identity depending on the amount you’re sending and which country you are sending from.
When it comes to actually making a transfer, you can choose from various delivery and payment methods, and you can do so in just a few clicks. And finally, the delivery time and fees are always displayed upfront, so you know exactly what to expect.
Customer support
WorldRemit offers 24/7 customer support in 6 different languages. We contacted their customer service team to test their response time and the quality of their support, and we were impressed. They were very responsive and helpful, and they were able to answer all of our questions.
Below are a few of the best channels to get in touch with WorldRemit’s customer support:
Contact details:
- Customer support (UK): +44 203 9666899
- Customer support (CA): +1 833 596 0890
- Customer support (USA): +1 855 383 7579
- Customer support (AUS): +61 1800 569135
- Customer support (NZ): +64 800 995 011
Processing time
WorldRemit typically takes 1-3 business days to process a transfer. Still, the delivery time will depend on your chosen delivery method and the country you’re sending to and from. For example, bank transfers usually take 1-3 business days, while mobile money transfers are instant.
WorldRemit Fees
WorldRemit charges a fee for every transfer, but the amount you’ll be charged will depend on the amount you’re sending, the delivery method and the payment method. When we compared their fees against other leading international money transfer services, we found that they were often cheaper but not always. They’re very competitive when it comes to small transfers.
WorldRemit also offers a fee-free first transfer promotion for new customers.
WorldRemit Customer Reviews
On the review site Trustpilot, WorldRemit has received a 75% excellent rating among more than 61,000 reviews. An additional 11% of these reviews indicate great service, 3% average, followed by less than 11% of customers who rated WorldRemit poorly.
Most of the positive reviews highlight the easy and fast process of transferring money through their web platform or mobile apps. Customers praise the speed with which the transfers are executed on the platform and the speed with which the money gets delivered to their recipients. In most cases, well within the 3 days indicated by WorldRemit on their website.
The few negative reviews customers left were related to customers’ cards being declined, the lengthy identity verification process, and customers unable to redeem the promo code for their first fee-free transfer.
We believe that WorldRemit is an excellent option for those looking for a fast, easy, and affordable way to send money internationally. Their customer reviews reflect this sentiment, with most users rating them highly for their ease of use, transparency, and competitive pricing.
Is WorldRemit right for you?
Choosing the best international money transfer company is a time-consuming process that requires careful study and analysis of a range of factors. For example, you need to think about how much you’re sending, how quickly you’d want it sent, the importance of getting the best exchange rate, etc. We hope that by reading this WorldRemit review, you can better understand all of these elements.
Below, we will give our final recommendations on when to use TorFX and when it is better to look for alternatives instead.
When to use WorldRemit
We recommend using WorldRemit if you’re looking for a reputable, trustworthy, and regulated digital payment platform to send money internationally. They offer a great value for money proposition, their service is easy to use, their customer support is excellent, and their processing time is very fast.
What are the advantages of using WorldRemit?
- Reputable, trustworthy, and regulated digital payment platform
- Great value for money proposition
- Easy to use
- Excellent customer support
- Fast processing time
When not to use WorldRemit
We don’t recommend using WorldRemit if you’re looking for the absolute cheapest option available. Other providers may be able to offer you a better deal, depending on the amount you’re sending and the currency pair.
What are the disadvantages of using WorldRemit?
- Not always the cheapest option available.
- Fees can vary depending on the amount you’re sending, the delivery method, and the payment method.
- Not available in all countries.
- Transfer limits depend on the country you’re sending to.
Final Verdict
Overall, we were impressed with WorldRemit. They’re a reputable, trustworthy, and regulated digital payment platform with a great value for money proposition.
They are a great choice for anyone looking for a reliable and user-friendly international money transfer service. They are among the most recognized and respected cross-border digital payment platforms available today with competitive fees, fast processing times, and excellent customer support.
The only downside is that they’re not available in all countries and if you need to make transfers higher than five figures. Other money transfer services like OFX, Wise, and XE could be a better solution to your needs if large transfers above $10,000 are what you are looking for.
WorldRemit FAQs
Below are a few frequently asked questions about WorldRemit.
Is WorldRemit available in the UK?
Yes. You can send and receive money with WorldRemit in the UK. The available transfer methods available in the UK are bank transfers, cash pickups, mobile money, and airtime top-up.
What is WorldRemit?
WorldRemit is a digital money transfer service that allows you to send money internationally. You can use their service to send money to bank accounts, mobile wallets, or cash pickup locations. WorldRemit also offers a fee-free first transfer promotion for new customers.
What countries does WorldRemit operate in?
WorldRemit operates in over 150 countries around the world. Therefore, the available transfer methods and currencies will depend on the country you’re sending to or from.
Is WorldRemit safe to use?
Yes. WorldRemit is a reputable, trustworthy, and regulated digital payment platform. They offer a great value for money proposition, their service is easy to use, their customer support is excellent, and their processing time is very fast.
How much does WorldRemit cost?
WorldRemit charges a fee for every transfer, but the amount you’ll be charged will depend on the amount you’re sending, the delivery method and the payment method.
How does WorldRemit make money?
WorldRemit makes money in two ways: by charging you a fee for every transfer and through a spread on the exchange rate. The transfer fee you’ll be charged will depend on the amount you’re sending, the delivery method, and the payment method.
Is WorldRemit better than Western Union?
Both WorldRemit and Western Union are reputable money transfer services with a long history in the industry.
What are WorldRemit customer service numbers?
Africa
- Somaliland: +252 252 3737
- South Africa: +27 105 0069 22
- Rwanda: +250 788 129 800
- Uganda: 0800 113 017
Asia
- Japan: +81 3 4588 8160
- Hong Kong: +852 800 938 101
- Malaysia: +60 1800 818 717
- Philippines: +63 285 4000 31
Australasia
- Australia: +61 1800 569135
- New Zealand: +64 800 995 011
Europe
- Belgium: +32 800 54282
- Croatia:+38 517 776 397
- Denmark: +45 7879 2981
- France: +33 805 220535
- Italy: +39 06 94803110
- Germany: +49 800 112 2299
- Netherlands: +31 203 697 480
- Norway: +47 21 99 94 85
- Spain: +34 900 839 435
- Sweden: +46 4 1088 0200
- Switzerland: +414 350 86414
United Kingdom
- UK: +44 203 9666899
USA & Canada
- Canada: +1 833 596 0890
- Canada (French): +1 833 719 0499
- USA: +1 855 383 7579
Rest of the world: +44 203 9666899