Last Updated on December, 2024
Are you looking to send money abroad? WorldRemit is your safe, affordable, and convenient international payment method.
Whether bank transfers or cash pickup (s), WorldRemit fulfils diverse needs.
WorldRemit covers 130+ countries and 70+ currencies, focusing on popular transfer routes. While checking out the in-depth WorldRemit review, you’ll learn about fees, safety, how fast transactions happen, the setup process, and more.
This will help you make smart choices for international money transfers using WorldRemit.
Continue reading.
Contents
- WorldRemit Review
- About WorldRemit
- Is WorldRemit Available in the US?
- How to Create a WorldRemit Account?
- Which Documents are Required to Create an Account?
- How to Use WorldRemit?
- WorldRemit Limits
- WorldRemit App
- Is it Secure to Send Money Using WorldRemit?
- What is the Potential for Savings With WorldRemit?
- What is the Fee for Sending Money Abroad With WorldRemit?
- The Information Required for Sending Money
- What are the Ways to Receive Money From WorldRemit?
- What is the Duration for Receiving Money Through WorldRemit?
- Customer Feedback on WorldRemit From Trustpilot Reviews
- Other Options Similar to WorldRemit
- Pros Cons of WorldRemit
- Conclusion
- FAQs
WorldRemit Review
Key Aspects
Facts
Additional Details
WorldRemit is a versatile and popular choice for sending money from the US to over 130 countries. Users can initiate payments online or through the app, with a selection of 5 payout options (as mentioned above).
While only some methods are universally available, the choices include bank and mobile money deposits, airtime top-ups, or cash for collection or delivery, Assisting customers seeking traditional banking services access.
About WorldRemit
So, now you know some facts and key aspects of WorldRemit. But still, there’s a question: what is WorldRemit?
WorldRemit, founded by Ismail Ahmed in 2010, is an online platform that allows you to send money abroad to your friends and family. He founded WorldRemit to improve the way money was transferred between people in different countries, hoping to make it more secure and safer than ever before.
It provides various options for recipients to collect funds, including cash pickup (s), mobile wallets, airtime top-ups, bank transfers, and door-to-door delivery.
Bank Deposits
Cash Collection or Home Delivery
Mobile Money Account
Airtime Top-Up
Is WorldRemit Available in the US?
Yes, WorldRemit is accessible in the United States. You can use it to send money from the US to over 130 countries.
How to Create a WorldRemit Account?
To open an account and send money internationally, consider these points:
You can successfully set up an account and initiate WorldRemit money transfers through this.
Which Documents are Required to Create an Account?
To create an account, WorldRemit may ask for specific documents, typically a proof of ID and a proof of address.
For Proof Of ID | If Providing A Photo ID, Ensure It Includes The Following | For Proof Of Address |
Passport | Your photograph (high-quality image required) | Any document with your full name and current residential address |
US Green Card | Full name | The document should display all four corners |
Driving License | Date of birth | It must be registered in the state where your account is based |
Displaying legal residency in the US with a visa. | Valid expiry date | |
The two lines of letters and numbers at the bottom (The MRZ) |
Make sure you have these documents ready for a smooth account creation process with WorldRemit.
How to Use WorldRemit?
You can easily use WorldRemit online or through the app.
To get started, follow these steps:
This way, you can use WorldRemit to transfer your money.
WorldRemit Limits
Payment Limits from the US
Bank Transfer Limits
WorldRemit sets these limits to ensure secure and regulated money transfers.
WorldRemit App
The WorldRemit app is a simple and convenient way to send money (Don’t forget that you can also receive money). After creating an account, you can use the app on your Apple or Android device.
The process is simple:
Is it Secure to Send Money Using WorldRemit?
Yes, using WorldRemit to send money is safe. They are fully regulated in the US, registered with FinCEN, and possess licenses in states where they are mandatory.
Additionally, they are supervised by global regulatory bodies, ensuring compliance with strict rules and regulations.
What is the Potential for Savings With WorldRemit?
When sending money, using a specialized online money transfer service like WorldRemit can often be more convenient and sometimes cheaper than a traditional bank.
However, the actual costs can vary based on the service, the currencies involved, and the amount you’re sending. We compared WorldRemit to a bank (Chase) for different payment values.
Do you know? WorldRemit tended to be more cost-effective for smaller transfers, while Chase became more competitive for more significant amounts.
Before choosing a payment service, it’s best to compare a few options, including various international money transfer providers and banks, to find the trustworthy money transfer service and the best fit for your specific transfer needs.
Here’s a summary of what we discovered in our comparison.
Transfer Details | Using Worldremit, The Recipient Receives | Using Chase, The Recipient Receives | Result |
Transferring 500 USD to AUD | 736.06 AUD | 729.91 AUD | WorldRemit offers more to your recipient |
Transferring 1000 USD to AUD | 1,472.11AUD | 1,467.19 AUD | WorldRemit offers more to your recipient |
Transferring 5000 USD to AUD | 7,360.56 AUD | 7,418.55 AUD | Chase offers more to your recipient |
Transferring 10000 USD to AUD | 14,721.13 AUD | 14,839.36 AUD | Chase offers more to your recipient |
What is the Fee for Sending Money Abroad With WorldRemit?
The transfer fees for sending money through WorldRemit vary based on your payment method, collection preference, destination, and transfer value.
To find the exact fee for your WorldRemit transfer, visit the WorldRemit website and use their user-friendly online calculator. Paying through a bank transfer is more economical than using a card.
If you go for a credit card, keep in mind that your card issuer may charge an additional fee, known as a cash advance fee.
The overall cost with WorldRemit can include:
Check WorldRemit’s fees and exchange rates and see if your chosen payment option incurs any extra charges from third parties.
Note: These additional transfer fees are not paid to WorldRemit, so verifying with your bank or card issuer is essential.
The Information Required for Sending Money
When you’re sending money through WorldRemit, you’ll need to provide a few key details:
Ensuring you have these details ready will help simplify sending money through WorldRemit.
What are the Ways to Receive Money From WorldRemit?
WorldRemit offers various ways for you to receive money, including:
Please note that not all options may be available in every destination country. Choose the method that best fits your requirements and is available in the recipient’s location.
What is the Duration for Receiving Money Through WorldRemit?
Receiving money with WorldRemit can happen quickly or take up to 4 working days, depending on various factors.
Here’s what influences the speed of the transfer:
Keep these factors in mind to better understand when to expect the funds to be received.
Customer Feedback on WorldRemit From Trustpilot Reviews
WorldRemit has received a rating of 3.9 out of 5 stars on TrustPilot with a total of 86,109 reviews. A platform that gathers real-time customer reviews. This is considered an excellent overall review.
More than 70% of customers have given a 5-star rating, reflecting positive sentiments, particularly regarding the speed of the service. Around 12% provided the lowest available review score. Customers’ dissatisfaction was often linked to technical issues with WorldRemit.
The company actively engages with customers on TrustPilot, reaching out to those facing challenges to provide support.
Other Options Similar to WorldRemit
If you’re exploring alternatives to WorldRemit, consider these options:
These alternatives present different features, so you may want to compare them based on your needs and preferences.
Also, look closer at Wise (formerly TransferWise) for more benefits.
Transparent Mid-market rate:
- Wise: Wise uses the mid-market exchange rate and clearly outlines the costs of your overseas payment, making it easy to understand and compare. (Read more about Wise exchange rate.)
- WorldRemit: rates are competitive but may lack upfront transparency.
Transfer Fees:
- Wise: Wise known for lower fees, potentially resulting in cost savings compared to other platforms.
- WorldRemit: Competitive fees, subject to variation based on factors like transfer amount and destination.
Multi-Currency Accounts:
- Wise: Wise offers multi-currency accounts, allowing you to hold and manage money in different currencies.
- WorldRemit: Primarily focuses on transfers, lacks multi-currency account feature.
In short, Wise emphasizes transparency, low fees, and multi-currency accounts, while WorldRemit focuses on global reach and quick transfers.
Pros Cons of WorldRemit
Pros
Cons
Other online bank reviews:
Conclusion
I hope you understand everything now.
WorldRemit makes sending money worldwide easy and flexible.
It’s user-friendly and covers various needs, as I already discussed. With its 24/7 support and quick processing, you can trust WorldRemit for secure and efficient international transactions.
Meanwhile, WorldRemit’s simplicity and convenience will give you a great experience during your money transfers.
FAQs
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