worldremit doesn’t charge any fees on first transfer for its customers.
The transfer fees vary according to the country you’re sending to. For transfers to the majority of countries including Europe and North America, there is a flat fee of $3.99 regardless the sending amount. For the rest of the countries, fees range from $0.01 to $25. For example, if you want to send money from New Zealand (NZD) to India (INR), the transfer fee is only $0.01, while to Kuwait, the fee reaches the maximum of $25.
worldremit earns profit from exchange rate, which you will be charged from 1% to 6% over the mid-market rate, depending on the country and currency. For currency EUR (NZD to EUR), the markup on exchange rate tends to be slightly less than 1%. worldremit has the highest margins on rate for some Africa countries, around 5% to 6%.
worldremit has the ability to deliver funds to your recipients instantly with cash pickup option from its branches. For some countries like China, there’s only airtime available, which is instant top-up as well. But If you choose option of bank deposit to receive the money, it usually takes 1 to 3 days to complete.
worldremit has the most efficient customer support among its competitors. You can reach them by phone, which is available for 24/7. Thanks to its plenty of call centers across the world (Asia, Australasia, Europe, USA & Canada, and UK for the rest of world). You’re encouraged to use the mobile app which is very friendly rather than the website, as worldremit is known as the ‘WhatsApp of money’ making transfers as easy as sending a message.
It also provides a detailed breakdown of transfer costs, exchange rate, and speed after you choose a country to get started. Such information is available to any one without logging in to the platform. Its website has 3 language options, English, French and Spanish. The FAQs section located in both header and footer is clear and helpful that you can find answers to all common questions.
On the downside, this online money transfer service only allows you to send one currency to other countries. For instance, let’s say you register an account in New Zealand, then you can only send New Zealand Dollars. If you need to send another currency like USD, you have to create an account in the US and deactivate your New Zealand account. It’s very annoying for those who want to transfer multiple currencies.