Money transfer has been around for the past 150 years. They have been a part of our history with the evolution of our banking industry, and money transfer was never far behind. Money transfer has gained popularity not just because of the ease of transferring money, but the casual transaction outside the banking environment takes the business to another level. There are still some companies that have paved the way for money transfer to materialize who are still in operation up to this day.
Comparison: Best Money Transfer Services
First Transfer Free!
- Transferwise is a very good provider for overseas transfers. The transfers are easy, convenient and secure. The most important thing is that the transfers are also much cheaper than with the bank.
Five Transfers Free!
- A world-class customer service, very good exchange rates and permanently favorable transfers abroad and to Germany convince. Only downside is the small selection of countries.
Send money very fast!
- Save up to 90% compared to banks. No hidden costs. Large selection of countries.
First Transfer Free!
- Azimo is a very competent partner for the international transfer. Azimo has a large selection of countries and the transfers are safe and cheap.
Now, let me just tell you about WorldRemit
WorldRemit has been in the business for the last 10 years. They boast of easy money transfer that reaches to 140 countries. WorldRemit also has different payment options to choose from, such as debit cards, via credit card and bank transfer to name a few. There are different options in the delivery of money that you can choose from; e.g. cash pickup, mobile wallet, bank transfer, and airtime top-up. Also, one of the fastest to transfer money as reviewed by many users.
WorldRemit enjoys an excellent rating from almost 26,000 reviews with a percentage of 95% saying positive things about the company.
There is a 3-5% user review which the company needs to act upon. There are some concerns about money being delayed (which again will depend on many factors), poor customer service (some complained of waiting for so long to get hold of the customer support team). Accounts suddenly deactivated (which may be because of some regulatory requirements not addressed by the user).
What can you do with WorldRemit?
WorldRemit has been in the industry of money transfer since the year 2010. The owner, when he was just a student, experienced paying huge fees while trying to send money. So, he thought of ways to help others who get the same service from a money transfer company. He collaborated with two others to bring WorldRemit to reality. WorldRemit was founded in London. WorldRemit also has what they call Regional Hubs around the world that include the Philippines, Nigeria, United States, Cameroon, and Poland. As of this date, it already has 4 million customers worldwide.
It is sending or remitting money to a certain person or specific account via electronic means. You can transfer money locally or internationally.
How does WorldRemit work?
- First – you need to create an account. Just register for free on WorldRemit website or better yet if you download the app using the App Store (iPhone Users) or via Google Play (Android users).
- Second – Choose what country you want to send money to, and choose the transfer method, e.g. Bank Transfer, Mobile Money, WorldRemit Wallet, Cash Pickup, or Airtime Topup.
- Third – choose the amount you want to transfer, and when you choose the amount, you will see the corresponding fee and the exchange rate.
- Fourth – Just choose who you want to send money to.
- Fifth – choose how you will pay for the money transfer.
There are several ways to pay, it is via card (a prepaid card, credit card, and debit card), through bank transfer, Apple Pay, Trustly, Interac, iDEAL, and Poli.
Then just click send money.
How much does WorldRemit charge for every transaction?
Charges for every transaction will depend on different factors such as the amount of money you are sending, currency, and the delivery option you choose. Transfer fees may range from as low as $3.99 up to $24.99 and again will depend on many factors. Some delivery options that WorldRemit has may charge a higher fee, like for cash pickup and mobile wallet transfer, but a lower fee for bank transfers.
What is good about WorldRemit is that it will show you the exchange rate and the transfer fee first before you continue with your transaction?
How fast does WorldRemit “remit” your money?
Is WorldRemit safe to use?
Since WorldRemit is a company that handles money, it has invested in many security features to ensure the protection of customer’s data. WorldRemit has advanced technology on putting security encryption to ensure the non-interception of sensitive data.
WorldRemit with almost a decade in money remittance has so far addressed the money sending needs of many people. They have made some changes to the usual standard in the business and made it better if not easier. They are transparent with their fees, and their service charge is affordable to many.
WorldRemit continues to serve large numbers of people across the globe, with their continued service improvement in all aspects, make them one of the best money remittance companies there is. If WorldRemit can address and give solutions to the measly 3-5% issues being thrown at them, it will be a vast improvement and such a big advantage to their growing business.
WorldRemit has been growing steadfast and continues to improve on its services. Not to mention the increase of their hubs around the world making them one of the money remittance companies to beat.We cannot say which company will give us the needed service that we search for. Some just excel than others. We each have our preferences, but as long as a company gives us the service that we want and look for, and as long as that company satisfies and will solve the problem. I guess there will be no more questions asked.