WorldRemit Review - Exchange Rates & Fees Calculator and FXcompared’s score

FXcompared Score 4.0/5 Great
WorldRemit
Rating based on expert reviews by FXcompared
Go to WorldRemit
Rating based on expert reviews by FXcompared
Last updated | December 12th, 2019

About WorldRemit

WorldRemit is an online service that allows people to send money to friends and family living abroad, by using a computer, smartphone or a tablet device. Founded in London by a former compliance advisor to the United Nations Development Programme, WorldRemit has been providing online money transfer services to migrant workers and expatriates since 2010. The company is backed by venture capital companies, including Technology Crossover Ventures and Accel Partners, and provides individuals with a secure, low-fee option for sending money abroad and making international payments. The firm provides transfer services from over 50 countries to over 110 destinations worldwide, throughout the Americas, Europe, Africa, Asia, and Australia.

WorldRemit Fees and exchange rate

FXcompared Score 2.2/5 Fair
WorldRemit
Rating based on expert reviews by FXcompared
Go to WorldRemit

WorldRemit Fees and exchange rate

Competitiveness on FXcompared for low value transfers e.g. sending GBP200
Sending very small amounts will not be cheapest with WorldRemit
4/5
Competitiveness on FXcompared for medium value transfers e.g. sending GBP10,000
WorldRemit is reasonably priced for most medium-sized transactions depending on currencies and amounts
3/5
Competitiveness on FXcompared for high value transfers e.g. sending GBP250,000
WorldRemit can be cheap for larger transactions, due to a low fixed fee, but watch out for the exchange mark up
0/5
Does FXcompared have direct access to the pricing
FXcompared receives pricing direct from WorldRemit
1/2
Is it possible to lock in future exchange rates
Future rates cannot be locked in, but the exchange rate quoted at the time of transfer is locked in for that transfer
0/1

WorldRemit fees depend on the amount you are sending, the payout method chosen, and which country you are sending the money to. The fees for cash pickup are a little higher than for a bank deposit. WorldRemit charges a fixed transfer fee, which is usually GBP 2.99 in the UK, which can make transferring very small amounts expensive. In some cases fees will vary, according to the currency or amount you are sending. WorldRemit also makes money from a mark-up on the exchange rates but its rates are still quite competitive and will be locked-in at the time of placing the transfer.

WorldRemit will offer you

  • Fast, sometimes instant, money transfers
  • Low transfer fees
  • A competitive exchange rate
  • The ability to send funds to over 150 countries

Ease of use

FXcompared Score 5.0/5 Excellent
WorldRemit
Rating based on expert reviews by FXcompared
Go to WorldRemit

Ease of use

Easy to understand website
The website is well laid out and easy to use
2/2
Simple sign up process (number of steps)
You can open a free account online, then just enter transfer details and pay for your transfer
2/2
Easy to setup a transfer once registered
WorldRemit transfers can be set up in minutes
2/2
Provider offers a service that our users often sign up to
WorldRemit service is popular amongst FXcompared users
2/2
Mobile notifications available on completed transfers
You will get push notifications to help track your transactions including a confirmation when they complete
2/2

The WorldRemit website is easy to navigate, with a clean and simple interface. It is quick and easy to register and open a free account. It is also very simple to set up your first transfer. Just enter the recipient’s details, along with the amount to be transferred and your payment information. Once all transfer information is entered, WorldRemit’s systems will find the most favourable currency exchange rate and initiate the transaction. Customers will be notified by email and by SMS (text message) when the money has been sent, and when it has been received at the destination. If using the app, push notifications will alert you to the status of your transfer.

With World Remit’s dedicated dealer model and its well-trained customer support staff, the company offers an easy way for individuals to send money globally by using the company’s website or mobile app. You can also call a specialist and place your transfer order by phone. Most customer reviews focused on the easy-to-use mobile app and the ease of sending or receiving money through it.

WorldRemitApp.png

WorldRemit mobile app

Whether you want to talk through your options with our team or move money on the go in a couple of clicks, you’ll always get great exchange rates and five-star customer service.

Mobile product

FXcompared Score 5.0/5 Excellent
WorldRemit
Rating based on expert reviews by FXcompared
Go to WorldRemit

Mobile product

Easy to use mobile website
The mobile website works well on a variety of devices
2/2
Easy to use mobile app
Apps are popular and highly rated, for both iOS and Android
2/2
Can transact in the app
The process for setting up transactions on the app is very simple
2/2
Range of in-app product offering
The app allows users to access most of the features available on the website
2/2
App store rating
An Apple Store rating of 4.8 and Google Play rating of 4.5
2/2

WorldRemit is known for offering a high-quality mobile service, and around one-third of WorldRemit transfers are received on mobile phones, with the company claiming that it is now the leading sender of remittances to mobile wallets globally. Apps for both iOS and Android mobile devices are available for free download. The WorldRemit app has a rating of 4.4/5 on Google Play, with over 51,000 ratings, and 4.8/5 on the App Store, with almost 35,000 ratings. Most reviewers report that the apps are very convenient and reliable. 

Credibility & Security

FXcompared Score 4.5/5 Excellent
WorldRemit
Rating based on expert reviews by FXcompared
Go to WorldRemit

Credibility & Security

Fully licensed and authorised
Globally including the FCA and FinCEN
4/4
Total amount transferred for their customers
Billions per year
3/3
Business revenue
£91m in the year to December 2018
3/3
Year on year growth
50% from 2017 to 2018
1/1
Number of employees
751
1/1
Head office location
London, UK
1/1
Branded search performance
Very strong
1/1
How long has the company been a partner of FXcompared
For over 3 years
2/2
How long has the company been established?
2010
2/3
Quality of financial backers
Leading venture capital providers such as TCV, Accel and Leapfrog
2/2
Private or public company
Private
0/1

WorldRemit is regulated in the UK by the Financial Conduct Authority (FCA) and by various other regulating bodies worldwide. WorldRemit segregates client funds into separate bank accounts so that in the event of insolvency, clients’ money is protected, with funds safeguarded according to the Electronic Money Regulations 2011, and the Payment Service Regulations 2017.

Business product offering

FXcompared Score 2.5/5 Average
WorldRemit
Rating based on expert reviews by FXcompared
Go to WorldRemit

Business product offering

Distinct offering for business
WorldRemit for Business provides a distinct offering for businesses of all types
2/4
Broader product set for business
Business-specific solutions make it easier to pay overseas staff, contractors and freelancers worldwide
2/3
Specialised team to support businesses
Yes, there is a specialised support team for business customers
2/2
Receivables product options
0/1
Marketplace seller product offering
Products for marketplace sellers across the globe are available
0/2

WorldRemit for Business aims to make doing business internationally far easier, especially for small and medium-sized businesses, by providing quick, safe and easy ways to make overseas payments, while also keeping transfers highly affordable. A WorldRemit Business account makes it easier to pay overseas staff, contractors, and freelancers, in 140 countries worldwide. Fees for business transfers depend on where the money is going but they are highly affordable and much cheaper than regular bank transfers. Sending GBP 500 by bank transfer to India, for example, would cost just GBP 1.99 (for a same day transfer).

Product Coverage & Service

FXcompared Score 4.5/5 Excellent
WorldRemit
Rating based on expert reviews by FXcompared
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Product Coverage & Service

Number of sending and receiving countries
WorldRemit services 50 send countries and 150 receive countries
4/4
Number of available languages
The website is available in a choice of six different languages
2/2
Pay in options
Pay in is by bank transfer, credit/debit cards, online payment methods, Apple Pay or Google Pay
3/4
Pay out options
To bank accounts, mobile wallets, cash pickup, door-to-door and pre-paid card
2/2
Additional services
Business accounts, mobile money, WorldRemit wallet for sending, receiving and storing money
2/2
Minimum send amount
There is a minimum send amount of just $1
2/2
Maximum send amount
Large amounts can be sent with WorldRemit but limits do apply, depending on location and payment methods
1/2
Speed and options for speed of transfer
Usually instant, but can depend on how funds are being received
2/2

WorldRemit facilitates a wide range of payment methods, including bank transfer, credit and debit cards and prepaid cards. You can also use online payment methods such as SOFORT, iDEAL, Trustly and Poli, as well as Apple Pay and Google Pay. There is a wide range of ways in which recipients can receive their funds, including cash pickup at many locations worldwide, and even a door-to-door service, where you can have funds delivered to your recipient’s home address. WorldRemit recipients are also able to use the money to top-up their mobile airtime. Many destination countries offer instant transfer services, meaning the money will often arrive within minutes.

Customer Feedback & Satisfaction

FXcompared Score 4.7/5 Excellent
WorldRemit
Rating based on expert reviews by FXcompared
Go to WorldRemit

Customer Feedback & Satisfaction

Customer help including onboarding
Account setup is easy and onboarding help is available
2/2
Ease of transfer
Customers find the service easy to use
2/2
Exchange rates
Customers say exchange rates are lower than other providers
1/2
Fees
Customers like the clear fixed fees and transparency over other charges
2/2
Solving issues
Customers report that issues are rare, and that customer support staff are quick to try and resolve them
2/2
Online/mobile experience
Reviews mention that the online system and apps are very easy to use
2/2
Customer service
Independent reviews indicate that the majority of users are happy with customer service
2/2
Overall experience
The company is rated ‘excellent’ on Trustpilot, with over 32,000 reviews
2/2

WorldRemit is very highly rated in customer reviews, with most customers expressing that they are very satisfied with the service, security, and convenience of using WorldRemit. The company has an overall rating of ‘excellent’ on Trustpilot, with over 32,000 customer reviews. Reviews mention that the service is easy, quick and secure and that the tracking alerts are particularly useful. Customers mention that they got better exchange rates and were charged lower fees than a regular bank transfer. Almost all reviews regarding the company’s ability to execute transactions to the customer’s satisfaction were positive, with most reviewers claiming they got the rate they were expecting, and the funds arrived at the recipient’s destination on time and with no issues.

Customer Support

FXcompared Score 3.5/5 Good
WorldRemit
Rating based on expert reviews by FXcompared
Go to WorldRemit

Customer Support

How good is the help section on the website?
The help section is comprehensive and clearly laid out, with a wide variety of topic sections
2/2
Is there live online support?
No, there is no live chat available via the website
1/1
Is there email support - and to customers and non customers?
Email support can be easily accessed by current and prospective customers
1/1
Is there phone support ?
There is a long list of phone support numbers in various different countries
1/2
Is the company easy to contact?
Yes, via phone, email, contact form and via social channels
1/1
Are FAQs and support available in more than one language?
FAQs are available in six languages, and country specific support is also provided in relevant languages
1/1
Is there an FX dealer to support customers
There is no FX dealer provided
0/2

Customers generally agree that WorldRemit has good customer support. Clients have a positive experience with customer service, with independent reviews mentioning that they are efficient, professional and helpful and that problems are solved promptly. World Remit customer service received glowing reviews for its service and the ability of support staff to address and resolve customer issues. Customers liked being able to call or email to find answers to their questions, and several reviewers mentioned receiving a high level of support and guidance from the customer service staff.

The few negative reviews we could find claimed that support staff did not get back to them after numerous emails and voicemail messages left, with one individual detailing a situation where they could not reach anyone, resulting in a transaction with an exchange rate that wasn’t as good as they were expecting to receive. Most reviewers, however, were satisfied or happy with the level of customer service they received from WorldRemit, and several reviewers commented on the excellent service every step of the way. If you require phone support, there are numerous local phone lines in different countries, and you do not need to be an active customer to phone or email support.

Transparency

FXcompared Score 4.4/5 Great
WorldRemit
Rating based on expert reviews by FXcompared
Go to WorldRemit

Transparency

Is there an explicit exchange rate margin in the total cost of transfer?
All margins are included as part of your overall transfer costs
1/2
Are the fees easy to understand?
Fees are clearly explained, and customer support are happy to clarify fee structure
2/2
Does the company combine fees and exchange rate or clearly broken out?
Transfer fees and exchange rates are quoted separately
2/2
Is a real time quote available without registering?
Real-time quotes are only available to logged-in users
2/2

WorldRemit is transparent when it comes to transfer costs. Fees are fixed and are listed. They do vary, depending on the countries and currencies involved, but this is all disclosed clearly in advance. There are no ‘hidden’ extra fees. Transfer fees are quoted separately from exchange rates, which are generally competitive, and usually better than those offered by regular banks for cross-currency transfers.

Alternatives to WorldRemit

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TorFX
Rating based on expert reviews by FXcompared
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WorldFirst
Rating based on expert reviews by FXcompared
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OFX (UK)
Rating based on expert reviews by FXcompared
Go to OFX (UK)

Compare Other Currency Rates

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Other International Money Transfer Quotes

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OFX (UK)

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Rates From The Average UK High Street Bank

Banks are the most expensive way to do an international money transfer, the quotes from the providers above show you the typical savings that can be made. All providers on FXcompared.com are regulated in the UK  by the FCA, in the USA by FinCEN, In Canada SSC and Australia, ASIC.

We check all rates regularly and this quote is an actual quote of the average from UK banks for this month. It includes all major and small banks. Lloyds, Barclays, HSBC, Santander, NatWest, RBS, Coutts, Handelsbanken, Metro bank and more - tracked every month. We obtain our rates via our IMTI platform.
 

More InfoLess Info
Amount Received
USD $12,998.39
No saving vs. banks

PayPal

?
Est. 1998

Shop with PayPal and you’ll still earn your points, airmiles and cashback. Fees are shown as part of the overall exchange rate.

More InfoLess Info
Amount Received
USD $12,970.43
No saving vs. banks

Where can WorldRemit be used?

WorldRemit can be used to send funds to around 200 countries, including Ghana, Nigeria, Canada, the Philippines, UK, India and Zimbabwe.

Is WorldRemit safe to use?

Yes. WorldRemit is a safe, trustworthy, genuine, money transfer service offering secure transfers around the world. It is trusted by millions of customers and is regulated by the Financial Conduct Authority.

How does WorldRemit wallet work?

The WorldRemit wallet is a secure app which allows you to transfer and withdraw money, and to store money online. You can easily send and receive transfers using the app and can withdraw funds into your regular bank account or at a cash pickup location.

How long does a money transfer take using WorldRemit?

How fast your transfer is will depend on where it is going and how you are sending it, but many WorldRemit transfers are instant. You can track transfer details online, or via the app, with push notifications that will tell you when your transfer arrives and, if it is a cash pickup, when it has been picked up.

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Why you can trust FXcompared's reviews

FXcompared's mission is to help you (and thousands of others each day) find the best providers for your money transfers.

We do that by providing a real-time comparison of exchange rates and fees (you can use the form below to make a comparison) and by writing in-depth reviews about money transfer providers.

We have partnerships with many money transfer providers (WorldRemit included), which help us get access to their exchange rate and fees information (which we always check for accuracy). Those partnerships help us support our activity and offer our service for free.

FXcompared.com is an fx money comparison site for international money transfer and to compare rates from currency brokers for sending money abroad. The website and the information provided is for informational purposes only and does not constitute an offer, solicitation or advice on any financial service or transaction. None of the information presented is intended to form the basis for any investment decision, and no specific recommendations are intended.  FXC Group Ltd and FX Compared Ltd does not provide any guarantees of any data from third parties listed on this website. FX compared Ltd expressly disclaims any and all responsibility for any direct or consequential loss or damage of any kind whatsoever arising directly or indirectly from (i) any error, omission or inaccuracy in any such information or (ii) any action resulting therefrom.