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WorldRemit is an electronic money transfer service that offers its services internationally. Founded in 2010, there are currently over three million users across the world. To learn more about WorldRemit’s services, consider the review below.
You can send money from over 50 countries to over 150 countries. To do so, you will first choose the recipient country and the method of transfer. WorldRemit offers bank transfers, cash pickups, WorldRemit Wallet, mobile top-up and airtime top-up services to send money. Once the method is selected, enter the transfer amount, add the recipient and payment information, and send the transfer.
Depending on which country you are sending to, there are a variety of ways for the recipient to receive their funds. Below is a list of transfer types available with WorldRemit.
Before you can send a transfer through WorldRemit, they will ask you to provide the following information:
Depending on where you are located, the following services may be available:
The following payment options are available for WorldRemit users. Keep in mind that these payment options may be subject to availability depending on the registered country.
Similarly to all money transfer organizations, WorldRemit has a variety of features that benefits its customers. Check out WorldRemit’s key features below.
Transferable Amounts | $0.01 CAD up to $40,000 CAD |
Transfer Channels | Online, mobile, mobile app, agent |
Types of Transfers | Bank deposit, app wallet, cash pick-up |
Payment Options | A wide range of payment options |
Service Coverage | Receive money in over 150 countries |
The time it takes for a transfer to be completed depends on the delivery method. A list of WorldRemit’s delivery methods and corresponding transfer speed can be found below.
Delivery Method | Transfer Speed |
Bank Transfer | Varies from within minutes to up to five business days |
Cash Pickup | Instant |
Mobile Money | Within minutes |
Airtime Top-Up | Within minutes |
Home Delivery | Between one to seven business days |
The base cost of an online transfer is $3.99 but the final fee may be higher depending on the method of delivery and where you are sending money to. Exchange rates are constantly fluctuating and you can expect to see a currency markup of up to 4%. When using a card to fund the transfer, you should try to use your debit rather than a credit card. This is because the credit card provider may charge a cash advance fee plus cash advance interest on the amount of the transfer.
The main benefit of using WorldRemit is that they support many different countries, offer a competitive exchange rate, and there is no minimum transfer amount. However, there is a maximum amount you can send and transfer fees can rise significantly with higher transfer amounts. Before deciding to proceed with WorldRemit, perform a cost-benefit analysis to determine if the service is appropriate for you and your finances.
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