Gone are the days when transferring money from one country to another was a difficult and expensive task. There were a lot of middlemen, hidden charges, paperwork, etc that used to haunt people. Fortunately, with the arrival of mobile applications and online platforms, the process to transfer money abroad has become so easier and more seamless. Be it an individual or a business, one can easily transfer money to any country in different currencies and via various methods. There are various online apps and platforms that offer incredibly flawless international money transfer services. One of them is WorldRemit. It is an online instant money transfer platform that can be used via an app.
WorldRemit is an instant money transfer service worldwide at highly competitive rates, unlike others. The brand was born in 2010 with the aim to offer affordable and seamless money transfer services all across the world. Its headquarter is in London. It can easily be found in the common marketplaces along with its major competitors like PayPal, CurrencyFair, Azimo, Transferwise, etc.
It all started when it’s founder Ismail Ahmed faced difficulty sending money to his hometown in East Africa from London. He had to pay excessive charges and the payment took a good time to reach his family. Hence, in 2010 he took a decision to simplify and process of transferring payments worldwide without paying excessive fees.
He and his co-founders Catherine Wines and Richard Igoe came up with the idea of WorldRemit to transfer money anywhere in the world quickly and without paying hefty charges.
How Does It Work?
WorldRemit is an online platform that can be reached via browser or an app. It has a good network of agents worldwide offering multiple ways to transfer money without facing any issues. However, the fees and exchange rates vary from service to service.
How To Get Started?
It’s really easy to register and send money via WorldRemit:
- Simply register your account on the app or website
- Pick the destination, amount, and transfer method
- Make sure to check the fees and exchange rate, and the total payment that you have to pay
- Give detailed information about the recipient, including valid name, account details, transfer method selected, etc.
- Pay the total amount via the preferred mode of payment.
Payment Delivery Options Offered By WorldRemit
One can easily get a payment in their account without having a WorldRemit account. The money can be easily transferred to the bank account of the recipient conveniently and safely worldwide.
It is nothing short of an electronic wallet option that allows users to keep money in their phones, unlike bank accounts. This money can be used for online services, purchases, withdrawals, or to send it back to the agents, and stores. However, it’s available only in a few countries.
Another option is to hand over the payment to the local agent worldwide to collect the cash. However, the recipient needs to furnish the transaction ID along with the validated photo ID to collect the cash.
The last way to get your payment anywhere in the world is via airtime pop-up. However, it’s limited to only getting your phone charged with a top-up. One can’t withdraw the money or use it anywhere else.
Fees & Exchange rate
To know exactly about fees and exchange rates while making a transfer, you need to visit the official website or app of WorldRemit. Choose the currency you want to pay with and send to in order to get the various delivery methods for your destination along with the exchange rates and fees.
Precisely, WorldRemit charges:
It changes as per the destination and delivery method chosen by you. It adds to your payment that you want to send to a particular destination via a specific delivery method.
It also varies as per the market exchange rate of the currency you have chosen. One can also get to know the current exchange rate on Google. This is the rate that most banks and transfer services use while buying and selling currencies wholesale.
The good news is that WorldRemit charges lesser than banks. And, the fees are charged as per the destination, delivery method, and amount one wants to transfer.
Currently, it’s charging:
- $2.99 to send $1000 to an Indian or UK bank account
- $3.99 to send $1000 for any cash pick in the Philippines
- $0.99 to send AUD 1000 for USD cash pick-up in Nigeria
Different Payment Delivery Methods
WorldRemit precisely offers:
- Bank account transfer
- Agency transfer to a destination for cash-pickup
- Cash delivery to the recipient’s home
- Mobile wallet transfer
- Airtime phone top-up
Different Payment Methods Available
The sender can pick the below options to transfer the money.
- Debit or credit card
- Prepaid card
- Apple Pay
- Google Pay
- It offers various delivery options
- It’s rated well
- A rich global network of agents
- It’s quite transparent and user-friendly
- Transfer fees don’t cause a dent in your pockets
- Multiple payment options
- Exchange rates are not so favorable for customers
- There is a transaction limit for certain payment methods
- Some delivery methods are not available at some destinations
WorldRemit offers round-the-clock customer support to its customers via a Help Hub that’s right on the website. Here, one can find out answers to all types of queries related to money transfers.
The service also offers a list of Frequently Asked Questions that covers almost every topic. Apart from that, there is also a chat box to get instant solutions to your queries.
Those who feel comfortable with a Virtual Assistant service can get its help to solve their queries.
However, if you want to get on a call or send an email then the options are available on the website and app.
How Does It Perform?
WorldRemit is quite seamless, quick, and effective while transferring funds. One can’t see any kind of technical lags while transferring funds to any country. In fact, the app is available for both, Ios and Android to let users transfer money right from their phones. Considering so many delivery options and features on the website and app, the service doesn’t lag at any option.
Is It Safe To Use WorldRemit for Global Money Transfers?
While making international money transfers, customers often have certain inhibitions or suspicions while using various services. However, WorldRemit is a 100% legal and reputed service that offers an immense amount of security to customers’ financial and personal details. Every transaction is being monitored by its team and is 100% secured.
Should You Pick WorldRemit?
Well, the answer is yes. WordlRemit is a licensed, legal, and reputed money transfer service across the world. It offers various delivery and payment options without charging hefty fees.
The biggest benefit is that it comes with a user-friendly app that doesn’t give you the pain to make money transfers. The app comes with user-friendly features and the speed that every user looks for.
Since it’s authorized by the UK’s Financial Conduct Authority, one doesn’t even need to worry about security and safety. It is a practical and easy solution to transfer money without burning a hole in your pocket.