Apply Now

WorldRemit International Money Transfer Review

Loans Canada: The Country's Best Loan Comparison Platform

WorldRemit International Money Transfer Review

Written by Veronica Ott

WorldRemit International Money Transfer Review

Categories

Money Transfer Review

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. 

How Do You Send Money Through WorldRemit?

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. 

What Types of Transfers Are Available?

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. 

  • Cash pickup. Recipients can pick up cash at a partner location within WorldRemit’s network.
  • Door-to-door delivery. Cash can be delivered directly to the recipient’s address. The recipient must show identification that matches the details provided by the sender.
  • Bank transfer. Funds can be transferred directly to a chequing or savings account. Additional bank fees may be applicable.
  • Mobile money. For eligible countries, the money can be sent to a mobile wallet which can be withdrawn at authorized outlets or to pay bills directly.
  • Airtime top-up. Funds can be sent to a phone service provider to pay for phone bills.

How Do They Work?

Before you can send a transfer through WorldRemit, they will ask you to provide the following information:

  • WorldRemit account. Accounts are free to open and can be created within minutes.
  • Valid payment. For Canadians, payment options include credit, debit, prepaid credit cards, Interac, bank transfers, Apple Pay and Google Pay.
  • Recipient’s details. You will need to provide your recipient’s full name, bank account details, and contact information.
  • Valid ID. Valid identification showing your picture, full name and date of birth must be provided. ID must be issued from the same province or territory that you are sending money out of.

Depending on where you are located, the following services may be available:

  • WorldRemit Wallet. The WorldRemit Wallet is a digital wallet that allows users to store their funds without making a deposit at a bank. The wallet can be found in the mobile app and supports US Dollars, Ugandan Shilling, Philippine Pesos, and Central African Francs.
  • WorldRemit Mobile Money. This is an e-wallet service that allows users to store, withdraw, make purchases and send money using their mobile phone. This service is available in more than 80 countries and is a great option for those in underbanked nations or territories.
  • Airtime top-ups. With Airtime top-ups, you can pay for telecom services in other countries through a money transfer.

What Kind of Payment Options Are Available With WorldRemit?

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. 

WorldRemit Key Features

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 TransfersBank deposit, app wallet, cash pick-up
Payment OptionsA wide range of payment options
Service CoverageReceive money in over 150 countries

How Fast Can You Send Money Through WorldRemit?

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 MethodTransfer 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

How Much Does It Cost To Send Money?

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.

Is WorldRemit The Right Transfer Service For You?

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. 

FAQs About WorldRemit Money Transfer Service

Is WorldRemit safe?

WorldRemit is licenced as an Electronic Money Institution, is regulated by the Financial Conduct Authority and is registered with various financial regulatory bodies in different jurisdictions. Transfers are only initiated after WorldRemit receives the funds which are held in accounts that are separate from the company’s operations. The website is also TLS encrypted to protect customer data. For all these reasons, WorldRemit is safe to use. 

Can I track my transfer?

Yes, WorldRemit provides tracking for transfers through SMS and email. Whether you are sending or receiving a transfer, you can expect to get a text message or email notifying you of the activity. 

Does WorldRemit have a reward system?

Reward vouchers are offered for users who refer their friends. A voucher is provided for both you and your referral when they sign up with your referral code and meet the minimum transfer amount. Other than the referral program, WorldRemit does not offer a reward system. 

Rating of 5/5 based on 2 votes.

Click on the star to rate it!

How useful was this post?

Research & Compare

Canada's Loan Comparison Platform

Largest Lender Network In Canada

Save time and money with Loans Canada. Research and compare lenders before you apply. Share your experiences with Canada's top lenders.

Make Smarter Borrowing Decisions

Whether you have good credit or poor credit, building financial awareness is the best way to save. Find tips, guides and tools to make better financial decisions.

Industry Spotlight

What's happening with Canada's credit industry?

BuyProperly ⎼ Making Real Estate Investing Accessible to Any Investor

BuyProperly ⎼ Making Real Estate Investing Accessible to Any Investor

BuyProperly, an online marketplace, is making real estate investing more accessible to the average Canadian investor.

Read Post
Locator
Find The Best Rate
In Your Region
OR
Best Personal Loan Provider by Greedy Rates
Icon

Confidential & risk-free

All consultations and conversations with Loans Canada and its partners are confidential and risk-free. Speak with a trusted specialist today and see how we can help you achieve your financial goals faster. Loans Canada and its partners will never ask you for an upfront fee, deposit or insurance payments on a loan.

Your data is protected your connection is encrypted.

Loans Canada Services Are 100% Free. Disclaimer

Keep Track Of Your Credit Score

Subscribe with Credit Verify to monitor your credit rating and get your free credit score.