Exchange Rates, Transfer Methods, Fees and More 

If you want to transfer or receive money from abroad, you may feel overwhelmed by the many transfer providers and methods available.

In this article, we’ll walk you through everything you need to know about one of the many online money transfer companies – WorldRemit.

We’ll discuss what it costs to transfer money with WorldRemit, its ease of use, security, customer support and more.

We’ll combine our analysis of WorldRemit’s service offering with user feedback to help you determine whether it could be the right transfer provider for you. 

WorldRemit Review 2024

Our Verdict on WorldRemit

WorldRemit is a London-based transfer provider that has been around since 2010.

It allows you to transfer money to over 130 countries and offers a comprehensive range of transfer services, including bank transfers, cash pickups, mobile money and even a mobile airtime top-up service.

The sheer range of delivery options helps WorldRemit stand out in a crowded marketplace. It also has some of the fastest transfer times, with many transfers completed in just a few minutes.

Another benefit is the large network of physical WorldRemit agents, which makes it a convenient choice if you want to send money that your recipient can collect in cash. 

Although it offers competitive exchange rates and fees – and the first three transfers for new customers are fee-free – other providers may be cheaper, particularly when making direct transfers to your recipient’s bank account.

That’s why it’s always worth shopping around before completing your transfer. 

WorldRemit Pros & Cons

If you’re still unsure about transferring money with WorldRemit, here’s a snapshot of the good and not-so-good things about this provider. 

Pros

  • Transparent transfer fees and exchange rates so you know exactly how much you have to pay
  • Good range of delivery options, including bank transfers, cash pickups, mobile money and mobile airtime top-ups
  • Excellent transfer speeds, with many transfers completed within minutes
  • Lower transfer fees than many other money transfer companies
  • A comprehensive global network of agents for cash pickup collections
  • Your first three transfers are free
  • Responsive customer support

Cons

  • Other money transfer providers offer more competitive exchange rates for some of the transfer routes
  • Not all the transfer methods are available in every location
  • There can be occasional delays in the transfers going through
  • After your first three transfers, you pay a fee on every transfer – some providers offer zero transfer fees over certain amounts

How Easy is WorldRemit to Use?

WorldRemit’s website and mobile apps are attractive, functional and simple to navigate, which makes it easy to send money abroad.

The transfer fees and exchange rates are very clear, and there’s a simple calculator that shows you exactly how much money your recipient will receive. 

There are four transfer methods in a dropdown box to choose from, and each method tells you exactly when your recipient will receive the money.

Not every transfer method is available for every destination, but it’s easy to check what payout methods are available.

Just go to the WorldRemit app or desktop site, select the country you’re sending to, and you’ll see your options.  

WorldRemit’s transfer methods include:

Bank Transfer

You can send money directly to a recipient’s bank account by providing a few details, including their name, bank account number, IBAN and SWIFT or BIC code.

The transfer speed can vary depending on where you’re sending the money to, but WorldRemit will always give you a clear idea of the completion time.

Cash Pickup

If you want to send money in a hurry, WorldRemit’s cash pickup service allows you to transfer money that your recipient can collect in cash within minutes from a local agent.

Your recipient will need the transaction reference number and a valid photo ID to collect the money.

Mobile Money 

WorldRemit also offers mobile money deliveries in some countries, which can be a convenient option, particularly if your recipient doesn’t have a bank account.

You can complete the transfer within minutes, and your recipient will be able to withdraw the money from registered agents, spend it in stores, buy mobile phone airtime or transfer it to other people.

A third of all WorldRemit’s global transfers go to mobile money services. 

Airtime Top-up

Stay in touch with loved ones by sending airtime to their prepaid mobile phones.

Once the airtime top-up has gone through, your recipient can send messages and make calls, but they won’t be able to withdraw the airtime as money or spend it in stores. 

WorldRemit Fees and Exchange Rates

WorldRemit clearly shows you exactly how much money your recipient will receive, and you don’t need to create an account first.

  • Just fire up the WorldRemit app or website
  • Select the country you want to send to
  • Choose the transfer method 
  • Enter the amount you want to send in GBP and see how much currency your recipient will receive

That makes it easy to compare the total cost of the transfer, including the exchange rate, with other providers. 

WorldRemit Transfer Fees

WorldRemit transfer fees change depending on where you’re sending the money to, how much you’re sending and the transfer method.

Generally speaking, WorldRemit’s transfer fees are low and there are zero fees on your first three transfers if you enter the promo code 3FREE before paying. That makes WorldRemit particularly attractive for new users. 

WorldRemit Exchange Rates

When you enter your intended transfer into the calculator on the WorldRemit app or website, you’ll see the exchange rate that will apply. This is how most transfer providers make their money.

They usually apply a markup to the mid-market exchange rate when converting your currency, and WorldRemit is no different. You can compare the offered exchange rate against the mid-market rate using an online currency converter. 

Generally speaking, WorldRemit’s exchange rates are competitive, but it’s still worth checking what other online transfer providers can offer.

For example, while WorldRemit may have excellent exchange rates on a UK-to-Philippines transfer, it may be less competitive for transfers from the USA to Malaysia, so it’s always worth shopping around. 

Is WorldRemit Safe to Use?

WorldRemit is a safe and reliable service that has been used by more than 5 million customers around the world. It is regulated by the Financial Conduct Authority (FCA) in the UK and satisfies other global regulatory bodies internationally.  

It has high-level verification processes in place and an anti-fraud team to monitor transactions. That said, it has been targeted by fraudsters in the past, so you must take measures to protect yourself.

Many of the transfers made on WorldRemit are completed within minutes, so if you do make a payment in error or are the victim of fraud, it can be difficult to get your money back. 

WorldRemit has 3.8 out of 5 on Trustpilot with 73% five-star reviews. Most of the negative reviews focus on transfers that take longer than expected. However, the customer service team responds to issues quickly and you can contact them 24/7 on live chat or during office hours by phone. 

How Long Does it Take for WorldRemit to Transfer My Funds?

Speed is one of the biggest benefits of WorldRemit, with the money often arriving within minutes of you completing the transfer. You will always see an expected delivery time when you make the payment. 

Bank transfers are usually the slowest transfer method, although the money can still arrive on the same day, depending on the country and the receiving bank’s processing times.

How Can You Pay for Money Transfers on WorldRemit? 

There are several ways you can pay for your WorldRemit transfer. If you’re in the UK, you can pay via:

  • Bank transfer
  • Debit card
  • Credit card
  • Apple Pay 
  • Klarna

There are also other payment methods if you’re making a transfer from outside the UK, including: 

  • Prepaid card
  • Poli
  • iDEAL
  • Trsutly
  • Interac

Your payment method may affect the speed of your transfer, and there may be additional costs if you use a credit card. 

What are the Maximum Limits for WorldRemit Transfers? 

The maximum amount you can send depends on where you live, the country you’re sending to, the transfer method and how you pay for your transfer. 

WorldRemit’s limits tend to be quite high. For example, in the UK, the maximum send amount is GBP 8,000 per transfer and GBP 50,000 per day if you pay by debit or credit card or GBP 100,000 if you pay by bank transfer.

In the US, you can send up to USD 5,000 per transfer and USD 9,000 per day. 

How Do You Make a Transfer on WorldRemit?

Generally speaking, the transfer process is quick and easy on the app or desktop site, but you may have to provide additional documentation to verify some transfers. 

Step one: Enter your transfer amount, transfer method and the country you want to send to into the calculator on the WorldRemit app or website and you’ll see how much currency your recipient will receive. 

Step two: If WorldRemit is the cheapest transfer option, create an account by providing your full name, address, date of birth and email address. 

Step three: Depending on the transfer amount and where you’re sending the money from, you may have to provide additional documentation to verify your identity and provide proof of funds. That could be a photo ID, a payslip or a proof of address. 

Step four: Enter your recipient’s details. The information you provide will depend on your transfer method. You should double-check the recipient’s details with them first to reduce the risk of errors. 

Step five: Choose how you want to pay for the transfer and click ‘Send’. You can ask to receive email or SMS notifications about the status of your transfer or follow its progress on the website or app. 

What are the Alternatives to WorldRemit?

ProviderExchange RatesFeesProcessing TimesCurrencies SupportedLimitsCustomer Support
WorldRemitMid-market rates + 2-3% marginFlat: £0.30 + 3% of the transfer amountTypically 1-2 business days70+Up to £100,000 per transfer24/7 live chat, email, and phone support
MoneyGramMid-market rates + 3-5% marginFlat: £3 + 2% of the transfer amountTypically 1-4 business days100+Up to £9,999 per transfer24/7 live chat, email, and phone support
TransferGoMid-market rates + 0.2-2.2% marginFrom £0 to £2.99 per transferFrom 30 minutes to 3 Days60No LimitWeekdays from 7 to 6 via email, and phone support
WiseMid-market rates + small marginVaries (amount/currency)Typically 1-3 business days50+Up to £1,000,000 per transfer24/7 live chat, email, and phone support
Western UnionMid-market rates + 2-5% marginFlat: £10 + 0.4% of the transfer amountTypically 1-2 business days130+Up to £500,000 per transfer24/7 live chat, email, and phone support
PayPalMid-market ratesVaries (amount/currency)Varies200+Up to £10,000 per transfer24/7 live chat, email, and phone support
RevolutMid-market ratesFlat: £0 + 0.5% of the transfer amountTypically 1-3 business days30+Up to £10,000 per transfer24/7 live chat and email support
RemitlyMid-market rates + 1% marginFlat: £0 + 0.5% of the transfer amountTypically 1-2 business days150+Up to £100,000 per transfer24/7 live chat and email support
CurrencyFairMid-market ratesFlat: £0 + 0.5% of transfer amountTypically 1-3 business days50+Up to £500,000 per transfer