WorldRemit Transfer Fees and Costs

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.

Usability

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 WorldRemit’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.

Mobile product

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 4.6/5 on Google Play, with over 210,000 ratings, and 4.8/5 on the App Store, with almost 200,000 ratings. Most reviewers report that the apps are very convenient and reliable. 

Trustworthiness & Reliability

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

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

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

WorldRemit is well rated in customer reviews, with most customers expressing that they are very satisfied with the service, security, and convenience of using WorldRemit.

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 Help & Assistance

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.

Pricing Transparency

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.