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WorldRemit is an online financial services company that lets you send money abroad using a smartphone, tablet or computer. With WorldRemit, you can send money from more than 50 different countries to over 120 countries across Europe, Asia, Africa, Australia and the Americas. Recipients can pick up cash or receive a deposit in either a bank account or mobile wallet.
What Are WorldRemit’s Transfer Fees?
WorldRemit transfer fees vary depending on where you’re sending money to.
- Based on the destination country, money transfers have a standard flat-rate fee. For example, transfers to the United Kingdom incur a fee of $2.99 while transfers to Bolivia cost $3.99 and transfers to Tonga cost $4.99.
- Based on the currencies involved, you’ll see a specific exchange rate quoted at the time of your money transfer, but there is not a separate fee charged for converting currency.
How Fast Are WorldRemit's Transfers?
WorldRemit transfer times can vary based on the delivery type and destination country.
- Cash pickup transfers and mobile money transfers are generally available instantly.
- Bank deposit transfers arrive instantly at selected banks but may take a few business days to be processed at other banks.
In 2010, WorldRemit was founded by Ismail Ahmed who had previously experienced his own money transfer struggles as a student in London needing to send money back to family members in Africa. In 2014, the company received funds from the high-profile investment company Accel Partners and in 2015 WorldRemit secured additional investment from Technology Crossover Ventures. WorldRemit has processed millions of transfers around the world and is headquartered in the United Kingdom.
Who Can Benefit From WorldRemit?
Built to offer greater convenience at a lower price than traditional money transfer services, WorldRemit serves cost-conscious individuals who embrace the comforts afforded by technology. The digital company processes transfers to over 120 countries and there are multiple ways for recipients to access transferred funds, which provides liberating choices. Whether you’re sending money to family, paying international bills or even depositing funds in your own overseas bank account, WorldRemit can help.
What Are The Advantages and Disadvantages Of WorldRemit?
This is what we love about WorldRemit:
- WorldRemit supports transfers to more than 120 countries.
- Transfers can be funded with a bank account or a debit or credit card.
- Fees and exchange rates and shown up front.
- Cash pickup and mobile money transfers are processed instantly.
What We do not Like About WorldRemit:
- There aren’t physical locations from which to send a money transfer.
- You can’t fund a transfer with cash.