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World Remit Money Transfer Review

2017 Update: World Remit review score was downgraded slightly from 81.0% to 77% due to client complaints and inquiries that were left on the comment section below.

Quick FactsPros and Cons
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Established: 2010.


International Clients: Almost: UK, USA, Europe, and Asia (far east and middle east).


Currencies Offered: 110 Countries.


Minimum Transfer: £1


Trading via: Online Platform only.


Offices In: UK, USA, Canada, Australia


Regulation: ✓ Financial Conduct Authority (UK),  ASIC (Australia)


Fees: As low as £1 


Client Reviews: Over 10,000, mainly on TrustPilot.


Client Rating: 9.5 /10



Awards
Global Forum on Remittances and Development (GFRD), 2015
Best Money Transfer –  International Association of Money Transfer Networks (IAMTN), 2012
The International Fund for Agricultural Development (IFAD)- Best Practice in Remittances for Development, 2015

Our Rating: 77.0%

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Pros

Transfer from £1
110 Countries
Remittances-Oriented
Cash Pickup
Good Client Reviews (Most of them)
Transparent Quote
Supports Interac (Competitors don’t)

Cons

Limitations on Transfer Amount
Transfer Online – No Phone Transfers
No Hedging Tools
Some Complaints about Service
Bad Reviews from Past Employees


Our Rating: 77.0%

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Company Information and Credibility


Company Information:  

World Remit, started off by Dr Ismail Ahmed has somewhat of a similar concept to companies like AzimoTransferwise, CurrencyFair and Lebara Money Transfer (which we call remittance companies). It’s an online platform with a strong focus on remittances, where the idea is to slash off price as much as possible, and get to a wide reach of developing countries.

They have been successful in fulfilling their founder’s vision about a fairer, cheaper, more transparent, remittance company which has been receiving tremendous feedback from both clients and media.

They have been regularly covered in mainstream media over the course of the the past 3 years where they raised over $100m in total, with the aim of Taking up on Western Union and Moneygram (as mentioned by Techcrunch).

Recently, they have been questioned by Australian regulator, ASIC, in suspect of conducing fraudulent transfers. It turned up to be a funny incident in which the regulator was unaware of common African surnames like Goodwill and Goodnews, which were deemed as fake by it. The incident was quickly resolved to the satisfaction of both parties .

In September 2017, World Remit has reported revenues of £41m and 5.4m transactions in the past year of 2016. The firm expects to grow 50% more in 2017, and already maintains a positive cashflow. That means it is becoming increasingly stable.

Regulated By: 

Financial Conduct Authority (UK), ASIC (Australia)


 

 

Awards: 

Global Forum on Remittances and Development (GFRD), 2015
Best Money Transfer –  International Association of Money Transfer Networks (IAMTN), 2012
The International Fund for Agricultural Development (IFAD)- Best Practice in Remittances for Development, 2015

Conclusion: 

Though World Remit is rather new, in comparison with the industry giants like Currencies Direct, World First, or Moneycorp, it’s not really in the same sector as them.

As an online-only remittance company that allows cash withdrawals and mobile uptime payments, it’s actually one of the veteran companies. With very strong backing from VC’s like Accel Partners, continued investment, and over 5,000 client reviews online, and revenues of 41m, we call it highly trustworthy.

Credibility Rating

Client Feedback


Research:

We have located over 5,50o 10,000+ reviews on TrustPilot, the leading client review platform in the UK. Out of them, less than 2.5% are complaints, and the average score is 9.5. Although there’s an overwhelming amount of highly positive reviews, it’s important to bear in mind that it means that there are more than 150 complaints/ bad reviews.

On the Australian ProductReview.com.au reviews are mixed. The overall is still positive with more than 90 positive reviews  out of 119 submitted, but it still means that there are quite a lot of unhappy customers. The overall score there is 3.9.

Though we usually don’t take Glassdoor reviews into consideration, in this case we thought it’s worth mentioning. There are 18 reviews, of which the majority are negative experiences, and the total is 2.1 / 5.

We have also received two complaints on our comment section which we have factored into the score. We don’t get that many comments on MoneyTransferComparison.com, so WorldRemit stands out in a bad way.


Positive:

All in all when we crunch the numbers, about 90 percent of the reviews we have managed to collect are positive. These are the strong points of World Remit according to them:

  • Easy to use
  • Cheap prices
  • Good reach
  • Good service
  • Revolutionary for work immigrants
Negative:

The complaints we discovered were around:

  • Service – incompetence and long waiting times to get a reply
  • Slow – takes a long time to process a payment
  • Bad employee training and disconnected management

Conclusion:

Most people had terrific experiences with World Remit, but we should not take complaints into consideration. The complaints are quite repetitive across the board, and the Glassdoor reviews gives us insight to a startup-mentality company which is not well-organized, which can explain delays in transfers, and incompetent service.

The bottom line is that it’s probably a very good service but it will take years of running until it gets to perfection.

User Rating

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Exchange Rate & Fees


Research:

Fees: 2.99 Pounds per transfer from the UK, 3.99 Australian Dollars from Australia, and 3.99 US Dollars from the USA.

Exchange Rates: Exchange rates offered by World Remit are not advertised. When we crunched down the numbers we got to about 1% margin from Pound to Euro, and similar markups on other currencies. Some currencies are a lot more expensive.

These are definitely good markups, especially in comparison to other companies offering cash pickups. It’s just around the same mark as Azimo, while being a tad more expensive than Transferwise and Currencyfair which maintain lower, steady, margins (with exceptions like additional 1% incurred on transfers to India by Transferwise).

Limits: From €1. There are strong limitations when it comes to transferring large amounts using World Remit. In fact, you can only send up to 2,000 Australian Dollars, 8,000 American Dollars and 30,000 Pounds per transfer. This makes this platform inapt for the majority of our audience (property purchasers and businesses), but should not bother those who are using it for remittance purposes.


Conclusion:

Not the highest fees, and good rates especially for developing countries where you can have mobile payments or cash pickup (where the alternative is Western Union which can easily charge 10% of the transfer to some countries).

Exchange Rates & Fees Rating

Global Reach & Service


Research:

  • Dedicated Dealer: No.
  • Offices: UK, USA, Canada, Australia
  • Ways to approach: Email, Telephone.
  • Translations: French, Spanish
  • Accepts clients: UK, Europe, Australia, USA, and most of Asia.
  • Currencies Handled: 110 countries.
  • Client reviews: 85% Positive, some service complaints

Conclusion:

World Remit has good global reach. It is accessible by most remittance-sending countries in the world, and the payout options are rather diverse. Between western countries there are only bank-to-bank transfers, but with developing countries you can withdraw funds in cash or as mobile payment.

There are no dedicated currency dealers assisting you,  but it all makes perfect sense considering the focus of the company. They don’t deal with high value clients which need to hedge their large transactions; Instead, they focus on work migrants who are sending money home.

Global Reach Score

Additional Functionalities


Hedging:

  • None.

You can only make spot transfers.


App:

Excellent app with the full functionality as the website. As soon as you have registered to the online platform, you can also sign up to the app, and be able to make payments with one click.

It has been rated well by clients who used it, with 4.5 / 5 rating with more than 4,000 reviews.

I’m in love I’m in love with this app. Have been with western union for decades. But this guys has better sending rate. Hope they continue this way. 5 stars from me

Conclusion:

Nothing business oriented, or large transfer oriented, but one of the best apps in the business which has been also chosen as our one of our top money sending apps.

Special Features Score

 

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Donald Lamont

WARNING; WORLDREMIT CAN LOSE YOUR MONEY AND NOT REFUND IT BACK TO YOU. Users of WorldRemit need to be cautioned that WorldRemit sometimes loses the money in the transfer, and does not refund the sender the money that WorldRemit loses. For example, in my case, the receiver did not pick up the money at the destination, and WorldRemit then says that they will refund the money back to the sender’s account. WorldRemit sent me an email stating that the money was put back into my bank account, using their interac service called beanstream. However, when the money did not show… Read more »

Mugwanya david

Why is there delay in receiving money on to my mobile mobey account….

Uwe Bruemmer

I sent money to my wife in Indonesia somedays ago,the amount is 2975 euro. I written emails two times to customer service but I just got outhomatic machine answered. Then I tried call and they told me that the transfered is canceled because have technical problem and will give back the money to my account. My customer no is WR 568124 and my transaction no is 10842448. So far I often send money by WorldRemit and never have any problem before and I always feel satiesfied. But this time I feel worried with this problem. How long the money will… Read more »

Herman Biesma

I used the services of WorldRemit for a few years. Sometimes small problems, but they were solved. Until I started to have two problems. 1) I can not use my Dutch credit-card living in Sweden, because they ask for a Dutch address. (Why?) 2) I got a new credit-card from my bank, WorldRemit did not accept that card. For the second problem I contacted customer service several times. After the 3rd time, I told them that I would write e negative review on TrustPilot, because it would just take a few weeks before I could not use my old credit-card… Read more »

joseph terkaa

update on my account details,

michael grosser

I have tried to do biz w/WR but they are VERY inconsistent. I sent three remittances.. the first two were relatively quick and painless (same day) the third took almost three days. When I attempted a fourth remittance I was confronted with a “Visa Verification” page. This page had the logo of my bank as well as visa. As I could not get past it I contacted my bank per instructions. Bank gave a number to visa. Visa says my bank is not enrolled to call my bank. I called my bank, they said call visa….and again and again. I… Read more »

Wassim

I made a $600AUD transfer to Thailand for cash pick up which was to be available within minutes. Transfer went through fine via the app and confirmation was received. With the confirmation email in hand along with an SMS notification, my partner went to the Government Savings Bank located at Central Festival Phuket to pick up the money. This along with hundreds of other Government Savings Bank branches is listed as one of the pickup locations for Cash transfers. On presenting the confirmation email and transfer details to staff at the bank, my partner was told that the bank had… Read more »

Dale Reynolds

WORLD REMIT — Not your judicious servant at all My experience with worldremit.com has not ended well. I went from being a good customer to a some kind of unexplained criminal suspect in a matter of moments, when I phoned for help in sending money to a friend overseas in an emergency. I was asked personal questions one would not expect to be asked – and in a rude manner – by anyone who is about to get your money for a simple service. Worldremit renders the power of judgement and sentence upon its simple “customer service” agents. That being… Read more »

Ishtiak A. Chowdhury

I just opened a small corporation in Jackson Heights, Queens, Newyork. My company name is “Shamim Multi Services Inc”. I would like to be an authorized agent from World Remit. Please let me know what I should do to go forward with it. Thank you

Tina

Trying to secure your identity seemed more like an invasion of privacy and an utter scam. I needed to send money overseas to U.K. to my husband so I wanted to use worldremit due to low fees and good currency rate. I should have been more aware as it takes 4 business days to transfer money. Next, they wanted access to my bank account. That should have been my first red flag. Then they wanted a picture of the front and back of my ID card. Why? Who knows. This should have been my second red flag but I continued… Read more »

teenagebirthdayinvitations

I only started using it because I switched from Apple to Android and some kind of dumb imessage apple issue won’t allow me to receive texts from some of my Tried months to resolve it without

Rory Keelan

Tried to use. Money debited but delivered. Unable to get through by telephone despite hanging on for long periods several times. No response to repeated e-mails. Fear the worst so will be contacting the FCA.

Rory Keelan

In comment above, that should be NOT delivered.

Ian Rahn

Attention Canadians: This is the best service I have found for Canadians sending money abroad. It is one of the only remittance services that supports Canada’s Interac network (as of late June 2017). That means that upon payment, World Remit redirects you to log into your Internet banking account and from there you are able to send the money instantly. I regularly send money to Brazil. With Interac, the money gets to World Remit immediately and the money is often deposited mid-morning the following banking day in Brazil. More importantly, the money arrives as a domestic transfer, which means that… Read more »

AFreeMan

THEY WITHDREW THE MONEY FROM MY CHECKING ACCOUNT AND THEN PROMPTLY DISABLED THE ACCOUNT!

For my first experience with WorldRemit, I am left with a very poor opinion of this company and services. This was much worse than most other online transactions I have encountered.

After I sent the money, I got a message that said: “Account disabled,” which is severely vague. This error message only serves to SCARE people and make them look like ONLINE FRAUD!

This seems to be a fraudulent service and I will be seeking remedy. This merely wasted my time during an emergency.

Farrah

hi good day everyone is anybody here have the number of the customer service in world remit? i was trying to call them but nobody answer the call i send money to the Philippines they need me to call them but they have only answering machine i called them like 30x now my family in the philippines need the money because my father is in the hospital he had to undergo chemotherapy so please anyone from world remit can answer me please help me

vinod

I read the reviews on Worldremit and many had negative sentiments. I didn’t believe them – I thought it might be a hoax.

I wanted to try it for myself. Result? It has been around 2 months since my transfer date and money has not been received by my loved ones. Worldremit says the money has been transferred. What Bullshit.

If you would want to try just like me, I suggest you start with a very very very small amount. You will be sorely disappointed.

Lucia

I send money through world remit on 17th of July , the money has been taken out of my debit account but shockingly the recipient has not received any money or confirmation email. They usually send a confirmation email both to sender and recipient and none 3 days on. Attempts to contact them has not worked either by phone, live chat is unavailable or email. I have send 3 emails and only received an automated message saying someone will be in contact within 12hours yet its gone 72hours. Very unhappy and would like you to check if this company is… Read more »

Khalil Hussain

Case no. 03855835 i,m verry Shocked to see the Response of this Company, Now i’m Worried about my Refund payment of £ 1691.99. its was my first experience with Worldremit , I called Worldremit and asked the instruction about to send funds, when have made my online account and i have transferred £ 1691.99 into Worldremit account , then i have received an email ” your account has been disabled” . now world remit have not refund my money back into my account. when i asked about my refund they asked me to send my Bank Statement. I’m verry shocked… Read more »

Charlotte

A significant amount of money was taken from my account by this company, without my knowledge or authorisation. Whilst most companies are quick to resolve fraudulent activity, these guys have refused to speak to me. Customer Service can’t help me because I am not a customer! I don’t have an account with them or a transaction ID. Their “fraud team” don’t have a phone between them, and insist i email my details to them… having just been the victim of fraud, and knowing nothing about this company other than the fact they’ve taken money from me, I’ve stated I’m not… Read more »

Elaisha

My experience with worldremit was terrible!
I sent 200$ dollars and they ask for ID and I provided it but I waited another 2 hours and still no confirmation so I call them and I am on hold for another hour and finaly, I talked to this english bitch agent and i told her to cancel my transaction but Wtf there is no confirmation or text that it has been cancelled ! Worldremit the worst remmittance .

desiree mamuric

delay for processing the cash pick up option, waited for hours now to receive confirmation that the money is ready now for pick up. very inconvenient, I’d rather use the well known transfer next time. not a good experience as I am a first timer sender. Customer service is very bad too.

tates

I sent money to my parents in their 80s in Zimbabwe to go straight to my dad’s standard chartered account on Monday July 31st I got confirmation saying that the transfer was complete. Up to now nothing has been deposited in my parents account. I was using another company before and a friend put me on to world remit. The cruelty of this is that my complaint and queries have the same response every single time. “Send us a statement.” My dad yesterday traveled for over 10 hours to get a statement at the nearest branch and he obviously doesn’t… Read more »

tates

I sent money to my parents in their 80s in Zimbabwe to go straight to my dad’s standard chartered account on Monday July 31st I got confirmation saying that the transfer was complete. Up to now nothing has been deposited in my parents account. I was using another company before and a friend put me on to world remit. The cruelty of this is that my complaint and queries have the same response every single time. “Send us a statement.” My dad yesterday traveled for over 10 hours to get a statement at the nearest branch and he obviously doesn’t… Read more »

David Parkin

This company are a bunch of crooks. They took a payment from my credit card and refused to pay me back. I had never hear of them let alone use them. Go elsewhere

arpie

I have been sending money successfully to a friend in Zimbabwe using World Remit for a couple of years – but World Remit has now disabled my account and is requesting copies of my passport, drivers licence, electricty bill as well as other personal documents to ‘verify’ the sender’s identity – supposedly as a security check, before they will unblock my account. They also ask for the name of the ‘receiver’ (which they already know, as it is on your account!) They ask what the relationship is with the receiver of funds, how long you’ve known them & what the… Read more »

lavi bansal

If someone is sending me the money for services and goods what names it will show on there statement?

tee

Terrible customer service and call enquiry dealing. I received an email from a friend asking me to use World remit. I obliged and set up account with all my sensitive info. I proceeded to sending money to my brother abroad and the money was immidiately taken from y account. Only to receive an email from world remit that my account as been disabled and transaction can no longer be carried out. No explanation given. I called customer service and after waiting in queue for 16 min, I was then put on hold again by the representative for another 2 min.… Read more »

Zabz

At least 35% more expensive (like for like) than other apps.
Auto security checks cannot cope with real human life. They disabled 2 new accounts twice, because I was home for Christmas and not in my registration country.
Had to find alternatives to sent money to my close friend in hospital, who I have been supporting for years.

Alternatives were in fact cheaper and more flexible, especially since this app blocked my CC with the extremely slow ‘disabled accounts’ refunds.
Communication with Customer service was like talking to a brick wall.

Edwin Dsilva

The only demerit with World Remit is the limit for single transactions which delays business payments and adds extra charges. For business payments, I personally prefer Remitr or TransferWise due to their fewer restrictions on bulk payments.

andre stelder

Sacking their best customers is bad for business After using worldremit for almost 2 years, doing some 200 or more transfers to various countries in West Africa (I work there) they suddenly came to ask me to submit a scan of my passport and tell from every transfer in the past (!) how I know the person (give evidence of it !) and what the transfer was for. Also they wanted to know to who and for what amount I would be doing transfers in the next year. As it was impossible for me to go into detail about 200+… Read more »

Melissa Rondon

I sent 1000 euros (1700 SGD) to our landlord in Singapore. After 1 week of not receiving his money, our landlord got really angry at us. But it turned out that he had made a mistake in the bank account number that he provided us. So we accidentally gave the wrong bank account number to Worldremit. (there were one too many zeros at the end – tiny mistake) We asked worldremit if they could replace the account number with the correct one to finally make the transaction to our landlord. Here is what they replied: “Unfortunately, a recall won’t be… Read more »

Frank

WorldRemit… well I don’t know even where to start I try to make it short. If you have any issue, don’t try to write, they will not answer. So you need to call to get things done sometimes and they will hold you for at least 20 min. in the waiting line and most of the time is 30min. plus (please just try it and they will tell you the approximate waiting time right at the beginning). Unfortunately I’ve sent money to a scammer and ask for the money back. Because it was not paid out yet they refund me,… Read more »

Suzy flaws

I made transaction to someone and my funds was deducted from my account ,then at the status its showing waiting for authorization ,its been 24hours now still can’t get update from them .

Muzamil Shah

Worldremit starting cancelling transactions to Pakistan, recently it has cancelled my two transfers and other bad thing is that its holding up money for more than a week after cancelling the transaction. On contacting them by my clients they said, they are not sending money to risk places, so if such case they should remove Pakistan from the list of sending money there. This is not good to take money for 8 or 10 days of a cancelled transaction, if you cannot send through do not hold the money for nothing may be you are getting interest on that money… Read more »

Ezgi

I sent money to my sister who was urgently in need of money. They said my transaction would be complete in two business days, and I got confirmation saying that the transfer was complete afterwards. It has been three weeks, nothing has been deposited in my sister’s account. I called so many times to get a refund. Whenever I call, they keep saying it will be deposited soon, they asked for a bank statement from my sister, an official confirmation from her bank confirming that she hasn’t received the money, and so many other troubles. At this point, I’m sure… Read more »

Roland

I made a transfer on June 12 I have been debited and worldremit said they don’t have the money on their account.I went to bank today and I have the document that the money is with worldremit The same day I sent the money. I need my transaction to be paid out asap. Transaction number :103625686549

Sarah Wambura

On 7th July 2018 I made a bank transfer via worldremit to my Kenyan bank account. Since it was a sunday I had to wait until Monday for the money to reflect on my account. That Monday my sending status changed to paid but the money was not in my account. I contacted my bank and they assured me they didn’t receive any money from worldremit. They asked me to provide them with SWIFT ADVISE from worldremit and I requested the same from worldremit but they were reluctant to share the document with me. Up to date worldremit has been… Read more »

Jim

14 days to transfer monies to Sri Lanka what a disgrace, their protocols are clearly designed to protect them and stuff the customer.
Been waiting 4 days now for them to make contact with their local agent and they haven’t been able to do so.
I have asked for my monies back and they won’t give it to me…Shocking customer services

Ms Carol M Kemp

I have been sending money to my late husbands family in Philippines. I am surprised at the high fees charged by World Remit for the service £5.99! The service has been good. One of the young bright sparks of the family thinks the exchange rate is poor – possibly destined to become a banker!

High service charges are not justified I will be going to a less expensive company!

David

Might as well be a listed as a scam

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