OrbitRemit Review

Quick FactsPros and Cons

Established: 2009


International Clients? ✓ Accepted


Currencies Offered: 21.


Minimum Transfer: £50 / AU$50 / NZ$50


Trading via: Online


Offices In: New Zealand, Australia, and the United Kingdom.


Regulation: ✓ ASIC (Australian Securities and Investments Commission), FIU (Financial Intelligence Unit), FCA (Financial Conduct Authority)


Fees: OrbitRemit does not disclose its fee formula. These levies are low but vary by country. OrbitRemit waives fees on your first transaction, and every tenth thereafter.


Promotional Code: TRGO10 – Free transfer, plus 10 GBP bonus


Client Reviews: 

Over 19,000 reviews on Trustpilot.com


Client Rating:

9.3/10 on Trustpilot


Awards:

– 2018 Cyber Gold Award, The 2018 Wellington Gold Awards (best online business in Wellington, NZ)
– #372 on the Deloitte Asia Pacific Technology Fast 500 index in 2017


Website: https://www.orbitremit.com

Our Rating: 75%

“A strong remittances product, but there are cheaper options for larger transfers”

View Rating Breakdown


View better rated companies below

Currencies Direct
  • Min Transfer: £/€/$ 100
  • Currencies Supported: 39
  • Offices : UK, EU, USA, India, South Africa.
  • Our Rating : 97.8%
  • Most Global Offices and Reach

    No Fees from Anywhere

    96% Client Satisfaction
World First
  • Min Transfer: £/€ 1,000
  • Currencies Supported: 121
  • Offices : UK, EU, Australia, HK, Singapore. USA-based clients not accepted
  • Our Rating : 95.4%
  • Easiest Sign Up Process

    Great Online Sellers Offering

    Transparent Exchange Rates
TorFX
  • Min Transfer: £/€/$ 100
  • Currencies Supported: 40
  • Offices : UK and Australia + Bank Accounts Deployed Globally
  • Our Rating : 93.4%
  • Friendly, Professional Service

    Corporate FX Expertise

    Superb Rates, No Fees

Pros

 Offers 79 currencies

Clients can send cash to 131 countries

 A money-back guarantee protects senders against botched transfers

Better rates than competitors on several routes

Attractive website, and strong mobile app

Transparent Rates and Fees

Cons

High Absolute Fees per Transfer

Inapt for high value transfers

Limited to only customers from North America

Complaints about excessive KYC for smaller transfers

Customer service lacks a live chat option


Our Rating: 75%

“A strong remittances product, but there are cheaper options for larger transfers”

View Rating Breakdown


 

View better rated companies below

Currencies Direct
  • Min Transfer: £/€/$ 100
  • Currencies Supported: 39
  • Offices : UK, EU, USA, India, South Africa.
  • Our Rating : 97.8%
  • Most Global Offices and Reach

    No Fees from Anywhere

    96% Client Satisfaction
World First
  • Min Transfer: £/€ 1,000
  • Currencies Supported: 121
  • Offices : UK, EU, Australia, HK, Singapore. USA-based clients not accepted
  • Our Rating : 95.4%
  • Easiest Sign Up Process

    Great Online Sellers Offering

    Transparent Exchange Rates
TorFX
  • Min Transfer: £/€/$ 100
  • Currencies Supported: 40
  • Offices : UK and Australia + Bank Accounts Deployed Globally
  • Our Rating : 93.4%
  • Friendly, Professional Service

    Corporate FX Expertise

    Superb Rates, No Fees

Read More:

Company Information and Credibility


Company size:

Founded in 2009, OrbitRemit is a money transfer service based in Wellington, New Zealand. They have 40 employees spread across three offices (Wellington, NZ; Sydney, AU; London, UK), and according to news reports, were approaching 1 billion NZD/month in transfers in 2018.

CEO Robbie Sampson, David Platt, Paul Robinson, and Tommy Heptinstall raised 1 million NZD to start OrbitRemit back in 2009. Since then, they haven’t needed any additional venture funding to grow their business.

Their hard work has paid off. In addition to reaching the milestone mentioned above, OrbitRemit managed to crack the Deloitte Asia Pacific Technology Fast 500 index in 2017. They have also gained acceptance from fellow New Zealanders. They were voted top online business in Wellington in 2018, and are one of four payment options accepted by New Zealand Inland Revenue.  


Regulated By:

ASIC (Australian Securities and Investments Commission), FIU (Financial Intelligence Unit – New Zealand), FCA (Financial Conduct Authority).


Conclusion:

Orbit Remit has enjoyed tremendous success in the past decade. Despite remaining a small company, they have grown their business to the point where they’re gaining international accolades. With only 40 staffers in three countries, that’s no small feat.

Client Feedback


Research:

OrbitRemit has been reviewed extensively on Trustpilot. Over 19,000 customers have left reviews, the vast majority of them positive. Only 2% of reviewers had a poor or bad experience.


Positive

Those satisfied with OrbitRemit had the following to say:

– They had an easy-to-use interface
– Fees and exchange rates were fair
– Customer service was friendly and helpful

Negative

Those dissatisfied with Orbit Remit had the following to say:

– The process of sending a bank transfer to OrbitRemit was confusing
– Transfers were too slow
– The documentation procedure was tedious


Conclusion:

Most customers using OrbitRemit do so without issue. However, the onboarding process for new customers is a bit involved, which annoyed some. Overall, though, the majority of Orbit’s customers are pleased with their low rates, slick interface, and responsive customer service.


Transfer money abroad with our recommended providers


Exchange Rate & Fees


Fees:

OrbitRemit does not disclose how they calculate rates. They vary by country but are lower than what banks and Western Union charge. A customer’s first transfer with OrbitRemit is free, as well as every tenth transaction thereafter.

We have tried to look at the formula ourselves on May 22, 2019 on GBP to AUD transfers.

This was the official exchange rate:

And this was what was offered on Orbit Remit’s website:

 

The grand total of fees and exchange rate markup was 2%. This is far better than most remittances providers, but worse than what you could get with companies like XE

or Moneycorp.

Limits:

OrbitRemit has a minimum transfer amount of 50 NZD. Maximum transfer amounts vary by country – check out their FAQ page for details.


Conclusion:

OrbitRemit could be more transparent about how they calculate fees by showing the exchange rate markup, and simply be cheaper for larger transactions, but overall it offers fair fees and exchange rates for remittance purposes.

Global Reach & Service


Research:

  • Dedicated Dealer: No
  • Offices: NZ, AU, UK
  • Ways to approach: Phone, e-mail
  • Translations: English only
  • Accepts clients: Three countries (New Zealand, Australia, United Kingdom)
  • Currencies Handled: 21
  • Client reviews: 9.3/10 on TrustPilot.com

Conclusion:

OrbitRemit has become tremendously successful in just ten years of existence. They have done this by keeping their focus narrow – as a result, they only accept clients in New Zealand, Australia, and the UK. They also only trade in a narrow range of currencies – those used by major migrant groups in NZ, AU, and the UK – and global reserve currencies like EUR and USD.

There is room for improvement in a couple of areas. If they speak languages other than English, they don’t specify it on their website. Also, contact information, while available, is not easy to find. You can reach OrbitRemit via phone or e-mail, but you won’t find either on their homepage or in their FAQ. We were only able to find numbers and e-mail addresses via a Google search.

Additional Functionalities


Orbit Remit offers more than just money transfer. This business also provides the following functions:

– Tax payments to the New Zealand Inland Revenue Department
– Payment of fines to the New Zealand Ministry of Justice
– Remittance of Work and Income payments to the New Zealand Ministry of Social Development

People don’t just send money to friends and family overseas using OrbitRemit. They also use this service to settle debts with the New Zealand government. This service is of great use for businesspeople and those who habitually send money overseas to loved ones.


Conclusion:

OrbitRemit does one thing well – helping people transfer money to loved ones and business contacts overseas.  By allowing customers to pay government bills online, it makes their lives much more manageable.

Orbit Remit Review Summary
  • 85%
    Credibility Score - 85%
  • 97%
    Client Feedback Score - 97%
  • 73%
    Fees and Exchange Rates - 73%
  • 65%
    Global Reach, Availability - 65%
  • 70%
    Added Values Score - 70%
78%

Bottom Line

Orbit Remit is a great  provider for remittances with relatively low fees, great feedback, inviting website and app, and a spotless reputation. Definitely worth a try if you need to transfer small amounts on a regular basis.

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