WorldRemit is now one of the largest online remittance company in the world which allow users to send and receive money to/from almost anywhere in the world. WorldRemit’s money sending services are presently available in over 50 countries, for individuals to send money to recipients in over 145 countries in the world.
WorldRemit has amazing features which include cost-saving transfer fees, competitive exchange rates, flexible payment methods and multiple methods of receiving funds.
The only limitation to the Worldremit service is that individuals can only use it for personal reasons such as send money to relatives overseas, pay for child’s education, pay bills, and even airtime top-up in supported countries (like Nigeria). Using WorldRemit to service business needs or other business-like purposes are currently unavailable.
According to WorldRemit's CEO, Ismail Ahmed, the goal of the company is "to get money to the recipient, however they want it, whenever they want it"
In today's article, we shall take a look at the services offered by the company and how to use WorldRemit. To start with, below are the services offered b WorldRemit.
The 8-year old Fin-Tech company offers the following services:
Bank Transfer
This is one of WorldRemit’s most popular services. The company allow individuals to send payments directly to a receiver’s/recipient’s bank account almost instantly at a very competitive rate. You can make Bank transfer directly to a recipient’s bank account across thousands of banks in Africa, Asia, Europe, Middle East and other parts of the world.
You should check out WorldRemit’s official Bank transfer page to see the list of countries where you can send money from, send money to, supported banks in the region, and a couple of necessary FAQs. Fortunately, almost all banks in any supported country can receive money from a WorldRemit-made transfer.
Mobile Money
Similar to how bank accounts work, Mobile Money is an eWallet service provided by WorldRemit which allow users to send, receive, store money, pay bills, shop online, make cash withdrawals and buy airtime using a smartphone or a feature phone.
WorldRemit's Mobile Money services are provided through local mobile money agents which are usually banks and licensed mobile telecoms providers with electronic payments infrastructure. Mobile Money is currently available in few countries across Africa, Asia, and other continents where WorldRemit operates except the Middle East.
Mobile Money users are given a Mobile Wallet number which permits them to receive money from anywhere in the world. Users’ mobile wallet account and money are duly protected by the local financial regulations.
Addendum
All major banks in Nigeria are in partnership with WorldRemit. Hence, you can receive money from friends and relatives abroad directly into your Nigerian bank account.
Door-to-Door Delivery.
This is a service by WorldRemit where money you send is delivered in cash to the receiver’s address by a delivery driver/person. In this case, the recipient will have to provide a valid means of idrntification. WorldRemit's door-to-door delivery service is only available in Vietnam at the moment.
Cash Pickup
You can also, alternatively, pick-up cash sent to you at a supported partner location. To successfully pickup cash, all that is required is a valid ID, transaction reference number (which would be sent to recipient via SMS), and cash pickup transfer location/branch available in selected countries.
Pay to Card
With WR, users can fund/send money a pre-paid card which can then be used to purchase and pay for goods online and in stores. Pay to Card services is presently available in Zimbabwe only.
Airtime Top-Up
WR also provide instant Airtime Top-Up services. Airtime top-up can be used to make phone calls, subscribe to call plans, or data plans to surf the internet.
Payments, Fees, and Rates
Just like many international money transfer platforms, transfer fees and rates aren’t exactly constant. They depend on a couple of factors like region you are sending money to (or recipients region) and amount you are sending. However, WorldRemit offers cost-saving transfer fees (usually starts from $1.99 USD) and high transfer rates when compared to banks and other international money remittance agents.
Typically, the sender pays for the transfer and payments can be made through a number of methods: Debit, credit and prepaid cards, Apple Pay, Android Pay, Poli etc. Interestingly, new users can enjoy a one-time fee-free transfer by using the coupon “FREE” on the payments page. Through promotional emails and texts, the company also offers other benefits and promotions from time to time.
Exchange rates and transfer fees can be viewed and pre-calculated using WorldRemit’s Fee Calculator.
Before you can successfully make use of WorldRemit and enjoy its services, you need to register and be verified.
Registration
Registration on WorldRemit is very easy. Only personal and contact details such as first name, middle name, last name, and email address are required. You’ll also need to create a password. In addition, you will be required to select your [Send From] region/country or state. Once selected, it cannot be changed directly in your profile or account settings unless you contact the customer center via call or mail.
For verification purposes, ensure the names provided during registration are correctly spelled; as it appears on your ID. Other details such as address, date of birth, and phone number can be updated post-registration.
While a quite number of African countries can receive money in several ways through WorldRemit, Somaliland is the only supported African country that can register to send money.
Verification
Before users can send money, pay bills, or top-up airtime using WorldRemit, there is need for verification. It is an easy process requiring individuals to upload a valid government-issued identity card (usually International Passport, National ID card, or driving license). To be approved/verified, uploaded ID must show the following:
The documents required for verification differs in every country. You can visit the official website of WorldRemit for additional information.