WorldRemit Review

WorldRemit helps you send money overseas to your loved ones, facilitating international transfers from Australia to 140+ countries. It specialises in a range of delivery options, so you can get money to those who need it, fast. Even if they don’t have a bank account! 

The question is… Are they the right money transfer app for your needs?

You’ll find your answer within this WorldRemit review, in which we analyse the firm’s key strengths and weaknesses, cost, speed, and security. By the end, you’ll have a good grasp on whether or not you should use WorldRemit for transferring money abroad, or you should consider an alternative.

How Did We Review WorldRemit?

Our review process always includes sending a test transfer, so step 1 was registering an account with WorldRemit. This also allows us to assess the sign up process. 

We never reveal our intentions when signing up for these reviews. That way, we are analysing what should be an unbiased service, similar to what you’d get when using the firm yourself.
Ultimately, we’re looking for insights into the efficiency and user-friendliness of WorldRemit’s platform. 

We also analyse the following:

  • Compliance and regulation
  • FX rates and fees
  • Service quality
  • Customer reviews
  • Australia-specific features and feedback

Our Money Transfer Australia rating consists of an overall WorldRemit review score, as well as individual ratings across five key performance indicators.

Key Information

AttributeDetail
Established2010
Launched in Australia2012
HeadquartersLondon, UK
Offices17 regional offices including Sydney, Australia
RegulationAUSTRAC (AU), plus 12 other licences globally
No. of customers8 million
No. of currencies70+
Transfer feesVaries by currency and delivery method
Customer reviews (Overall)3.8/5, 86,187 reviews
Customer reviews (Australia)N/A 
Annual trading volume (Overall)AU$15 billion (Zepz group total)
Minimum transfer$0
Maximum transferAU$50,000 per 24 hours
Online platformNo
Mobile appYes
Account managerNo

Pros and Cons

  • Variety of delivery methods – WorldRemit offers a range of non bank delivery options like mobile money, cash pickup and airtime top-up.
  • Fast transfers - in most cases, WorldRemit transfers arrive in less than one hour, which is impressive given so many of its transfers are to exotic locations.
  • Secure and highly trusted – WorldRemit is well trusted by users, and is backed by many large organisations, which is a strong vote of confidence that they’re trustworthy.
  • Complicated and expensive fee structure - exchange rates vary based on the delivery method, with fixed fees often added on top of that.
  • Not suitable for large transfers - low transaction limits makes WorldRemit unsuitable for large transfers, so they’re only an option for those looking to make small overseas transfers.
  • Limited payment options - Australian users are unable to pay via bank transfer, leaving limited options which may lead to the user incurring higher fees.

About WorldRemit

Since its inception in 2010, WorldRemit has continued to grow and cement itself as a mainstay in the remittance industry. Its business model is very similar to competitor Remitly, as WorldRemit also specialises in sending funds from the developed world into developing countries, which is why multiple pay out options are so important. Despite the CEO torch being passed multiple times in the last 5-6 years, the firm has continued to grow, amassing an impressive backing across several funding rounds.  

More recently, in 2021, WorldRemit completed its acquisition of the Africa-focused remittance firm Sendwave, thus forming the Zepz group. Zepz is now the parent company for the two remittance firms, which achieved operating profitably in 2022.  

At the time the acquisition was announced, the combined firms had a valuation of $1.5 billion, but impressively, the group was most recently valued at $5 billion. This positions Zepz as one of the largest and most valuable fintech companies in Europe, and one of the only fintechs to be profitable. 

This has come at the expense of some of its employees however, as the firm laid off 26% of its workforce in 2023, and has made further cuts since. This is likely influenced by a duplication of roles following the merger, in addition to the recent slowing momentum of the digital payments space as a whole. 

Regardless, WorldRemit is continuing to aim high, as current Zepz group CEO Mark Lenhard claims to be readying the expansion runway, as rumours of an IPO in the not so distant future continue to be discussed.

WorldRemit Currency Exchange Services

How to pay for your transfer

WorldRemit’s payment options vary based on location. Those living in Australia are limited to two payment methods only: 

  • Debit, credit or prepaid cards
  • Apple Pay

Delivery methods

With WorldRemit, you have a variety of delivery methods to choose from. This can be beneficial for transfers to exotic locations, where a bank transfer might not be a viable option for your beneficiary. 

The exact options available vary based on the destination country, but let’s take a look at each of these briefly. 

Cash pickup – Currently available in 57 countries, your recipient can collect cash from one of WorldRemit’s partner network locations. They’ll need a valid photo ID and a transaction reference. 

Mobile money – Mobile money accounts are particularly popular in parts of Asia and Africa, and with WorldRemit, you can send your funds directly to a recipient’s account using their mobile number. 

Bank transfer – Send funds directly to your recipient’s bank account, providing they have one and it’s an available option for your destination country.

Airtime top-up – This is different to mobile money, as the money you send is directly used to top up your recipient’s mobile balance for calls, texts, and data.

Limits

WorldRemit’s send limits mean they’re only suitable for small to medium sized international transfers. 
These are highlighted below:

24 hour send limitSingle transaction send limit
Debit, credit, or prepaid cardAU$50,000AU$9,990
Apple PayAU$50,000AU$5,000

It’s the single transaction send limit that will likely be most frustrating for many customers. A daily limit of AU$50,000 might not have been too restricting except for those looking to make large overseas transfers. 

But users who need to frequently send funds abroad around the AU$20,000 mark, will likely skip WorldRemit to avoid the hassle of having to set up multiple transactions.

Is there a WorldRemit App?

Yes, WorldRemit phased out its online platform in the last year, so it’s now an app only service. 

Thankfully, the app has proved to be extremely popular. It’s had more than 5.3 million downloads across all platforms and has received largely positive reviews. 
4.8/5 on the App Store, based on 87.5K reviews (AU specific). 4.6/5 on Google Play, based on 203K reviews (global).

The app has been praised for its slick design, being extremely easy to use, and offering clear transfer status updates. Apple users will likely find the app experience even more seamless, given they can fund transfers using Apple Pay. 

Having also analysed the negative reviews, we learned several users have experienced app processing errors that have caused transactions to be frozen or cancelled. However, largely speaking, for an app with half a million global reviews, it seems the vast majority of users have had a positive experience. 

WorldRemit Fees & Exchange Rates

Exchange rates 

WorldRemit’s exchange rates vary considerably based on the currency corridor. For popular currency pairs like AUDGBP, AUDUSD, and AUDNZD, as of April 2024, WorldRemit was adding an fx spread somewhere between 1-1.5%. AUDSGP was the only anomaly here, as the firm was adding a 4% markup. 

For destination countries where multiple delivery methods are available, the offered exchange rate depends on the pay out method. For example, we looked at sending money to the Philippines, where for a bank or mobile money transfer, WorldRemit applied a 1.22% fx spread. This jumped up significantly to 2.87% for a cash pickup. 

So if using WorldRemit, it’s important to keep a close eye on the exchange rate, as it will likely change as you confirm more details about your transfer.

Fees

Similarly to its exchange rates, WorldRemit’s fees are different on a case by case basis. 

If your funds are arriving via bank transfer, you’ll be charged a flat fee somewhere between $0-$4.99 AUD for popular currency corridors. Fees for other delivery methods have even more variables. For example, different cash pickup partners have varying fees, so you’d need to sign up and add specific details regarding your transfer to get an accurate idea of costs. 

Frankly, we find WorldRemit’s pricing structure to be unnecessarily complex, thus lacking a bit of transparency. Seeing as they already offer different exchange rates based on the delivery method, WorldRemit is effectively charging two fees, one fixed and one variable. It’s the sort of pricing that makes the international transfer market difficult to navigate, so in short, we’re not fans.

Is WorldRemit Safe?

Yes, we can confidently say that WorldRemit is a safe provider. 

The firm is well established and is authorised and regulated by AUSTRAC in Australia. 

The fact they’re headquartered in the UK and authorised by the FCA is a further vote of confidence, as you have to adhere to very strict processes to be operating in the UK in this industry. 

This is echoed throughout the huge pool of reviews online, as the general consensus is that the firm is reliable and trustworthy.

safe tofx

WorldRemit Reviews

WorldRemit has a ‘Great’ rating on Trustpilot, albeit at the lower end of the range with a score of 3.8/5 stars. Despite only just earning this rating, 83% of WorldRemit reviews are positive, so the vast majority of customers have had a good experience. Common themes throughout the positive WorldRemit reviews are users being surprised by how easy it is to send money, and by how quickly it arrived. 

Interestingly, there are a good sample of neutral reviews. These are from regular users that are largely happy with the WorldRemit service, but have experienced problems with a particular transaction. 

Some of the negative reviews are from long term customers that previously used the online platform, which has recently been phased out, leaving them forced to use the app. Some other negative reviews are from customers who found it very difficult to get through to a human from the customer service department. However, users that have been able to speak to customer service, praise WorldRemit for having friendly and helpful staff. 

Overall, WorldRemit’s verified review score is slightly below average for remittance providers, but when combined with their app ratings, the firm has a largely positive online reputation.

How Does an Overseas Transfer with WorldRemit Work?

Create an account

You’ll need to provide your full name, address, and date of birth. To prove your identity, which is required to comply with Australian law, you’ll need to show one of the following: 

  • Driver’s licence issued by any Australian state or territory
  • Passport (Australian or foreign)
  • Australian ImmiCard

This process can be completed within the app or online, and most often shouldn’t take more than a few minutes, unless you’re asked to provide supporting documentation.

Confirm the details of your trade 

Remember, there’s no account manager to help guide you, so it’s down to you to ensure all the information is entered correctly. Once you’ve confirmed the destination country, transfer amount, and pickup method, WorldRemit will share their exchange rate, along with any fees upfront, as well as an estimated delivery date.

Keep in mind that the exchange rate varies based on delivery method, so be sure to calculate the fx spread to ensure you’re happy with the value you’re getting. 


Enter your beneficiary’s details

This stage is largely determined by which transfer delivery method you choose. If you’ve selected cash pickup, you’ll enter the recipient’s full name, then simply select a pickup location from one of WorldRemit’s partner locations.

If you’re sending a bank transfer, you’ll need to provide much more information, like the bank’s name, address, and an international bank ID code, like a BSB (New Zealand), IBAN (UK and Europe), or routing number (USA).

Sit back

Now, simply confirm the trade and you’re all set. WorldRemit will keep you updated based on your communication preferences, or you can head into the app anytime to check the status of the transfer yourself. 

How Long Does a WorldRemit Transfer Take?

WorldRemit is confident in facilitating fast transfers. They claim that ‘in most cases, transfers sent using WorldRemit arrive within minutes.’

This can of course vary based on the destination country and method of delivery. If you’ve selected a cash pickup service, then as soon as you’ve paid for your transfer, the funds should be available for immediate collection.

WorldRemit also provides a guideline delivery time for all transfers before you confirm your trade, and you can track the status of your transfer in-app or online.

When to Use WorldRemit for Money Transfers

We’ve already established that WorldRemit is not suitable for sending large amounts overseas. So if that’s your requirement, you should check out Money Transfer Australia’s top rated currency brokers, who specialise in large international transfers. For smaller transfers, WorldRemit offers a secure and fast solution for sending money to loved ones abroad. But the major catch is they’re not the cheapest. Far from it in fact! 

Those looking for the cheapest way to send money abroad, providing you need to send less than AU$20,000, should consider the highly rated money transfer app ‘Wise’. They offer secure and equally fast transfers as WorldRemit, but most often for a fraction of the cost. 

So with that said, should you ever use WorldRemit to send money abroad? Well potentially, yes. Seeing as they offer a variety of delivery methods, if your recipient doesn’t have access to a bank account, then WorldRemit might be your safest and most cost effective option for delivering your funds.

Our Verdict

WorldRemit is a well established money transfer app and appears to be a mainstay in the industry for years to come. They offer customers a fast, secure, and often convenient way to send money overseas to loved ones, specialising in more exotic locations. 

Our biggest gripe is its complicated exchange rate and fee structure, but they clearly have a large audience who are happy with the value they’re getting. Given the fairly low payment limits and average pricing model rating, WorldRemit has fairly limited use cases considering the array of available alternatives. 

With that said, if you find WorldRemit is offering competitive transfers for your required currency corridor, give them a try.