is an online and app-based money transfer service that makes it easy for you to send money home or to over 145 countries worldwide. WorldRemit facilitates faster, easier, lower cost money transfers and can be received as a bank deposit, cash pickup, mobile money or airtime top-up. The company was founded on January 1, 2010, and has global headquarters in London, UK, and regional offices in the USA, Canada, Australia, and New Zealand.
What to watch out for
- Maximum daily limits. Transaction limits depend on how you are sending the money, while a total 24-hour cap of $9,000 applies to all transactions being sent by you out of the US.
- Changing fees. Depending on where you are sending to, how you are paying and how you are transferring money, your fees may vary. Although a base fee of $3.99 is applied to most transfers, keep an eye on this category when actually completing your transfer to make sure it doesn’t change.
- No hedging options. WorldRemit only offers one-off transfers, unlike some of its competitors that offer additional tools to help you save money. Hedging tools are most often used to lock in an exchange rate, helping you save money on future transfers if the market shifts against your position.
- Inconsistent markups. Exchange rates vary through WorldRemit and depend not only on the currency you are sending to but also on the destination country. Expect mid-market markups anywhere from 1-4%.
If you need to contact the team at World Remit, you have two options. The fastest way is to call the team directly. Not all locations have a local toll number available, so do bare this in mind.
Alternatively, you can send the support team a direct message through your online account portal.