WorldRemit Money Review – Scam or Legit E-Money Medium
WorldRemit is an online money transfer service allowing people around the world to send money to their friends and family abroad.
The company was created in 2010 by Somali migrant Ismail Ahmed while studying at university in London, who first recognized the opportunity to make money transfers cheaper and improve the experience of sending money
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Transfer speeds can be very fast (in some situations) and easy to do through their app or online. However all this flexibility and convenience can come at a cost.
This means other services could be a better option particularly for larger amounts or if you do not need the extra convenience provided like paying by credit card or receiving in cash.
There are lots of ways to receive money thought WorldRemit, they include:
WorldRemit makes money in two ways: by charging you a transfer fee and through a margin on the exchange rate.
There are also potentially hidden fees that banks at either ends can charge. The good thing about WorldRemit is that they tell you the exchange rate and transfer fee upfront, even before you are ready to transact.
So, you can check out the rates and fees, and compare it to other services before you make a decision.
WorldRemit charges you a transfer fee on each transaction, which depends on the currency you are sending, the amount and the delivery option. Usually, the fee for bank transfer is lower and it is higher for cash pickup and mobile wallet transfers.
The transfer fee can range from $3.99 to $24.99 depending on various factors such as the currency, country, amount, and delivery option.
The WorldRemit app is easy to use and it makes sending and receiving money easy to do anywhere. Once you have downloaded the app and registered with WorldRemit, it’s easy.
You need to select how you wish to pay for the money transfer, select who you want to pay and which way they would like to receive the money.
It is very quick after the initial set up and first send. This is why it is ideal for sending smaller amounts to family and friends anywhere around the world.
WorldRemit’s mobile apps have great ratings on Apple’s App Store (4.8/5 stars on 52,000 ratings) and Google’s Play Store (4.4/5 on 58,290 ratings). With WorldRemit’s mobile apps, it’s easy to send money from your smartphone in a few taps, receive alerts with the latest exchange rates, and check the status of transfers.
WorldRemit has its headquarters in the United Kingdom. The company is licensed as an Electronic Money Institution and is regulated by the Financial Conduct Authority (FCA).
Even in other countries, WorldRemit is registered with relevant financial regulatory bodies. In New Zealand WorldRemit is registered with FSPR and in Australia with AUSTRAC. It is also registered with all states in the USA which makes it up being a great service for American residents.
When you sign up you will get your first three transfers fee free (using the code ‘3FREE‘).
You choose the country you are sending money from and then enter some basic details. Once you have selected a country, you will not be able to change it online, you will need to call up the customer care or send an email.
To complete the online application process, you just need to provide details such as your name and email address. You can update date of birth, phone number, address, and verification details later.
WorldRemit Money Review shows it has an edge in that it provides cash pickup in many countries across various locations. In fact, when you choose the cash pickup option, you are asked to select a payout network. You can select the one that has offices in your recipient’s location.
Door-to-door delivery of cash is also available in some countries – you will get to see all available options once you choose the country you are sending money to.
WorldRemit is a good option for making smaller transactions, i.e. up to £800 GBP/ $1000 USD. It is particularly useful when you would prefer cash pickup than a bank transfer.
Established over 10 years ago, WorldRemit allows you to send from over 50 currencies to over 140 countries. The company now has offices in the US, in the UK, Canada, Australia, New Zealand, South Africa, Singapore, the Philippines, Japan, Nigeria, Cameroon and Poland. It employs over 800 staff around the world.
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Anyways, team Xycinews can’t pronounce WorldRemit Money scam or legit but we will give you all the important information at our disposal to help you decide best because it involves you and your funds and we ain’t ah third party.
Don’t conclude from what you’ve read alone, make research additionally to make your firm. Always look out for the following before considering any online platform, expecially when your funds is involved.
This WorldRemit Money Review Article isn’t aimed at defaming WorldRemit Money nor is it targeted to promoting them.
This article is strictly for enlightening purposes and a honest guide from our perspective because we strongly believe every brand needs a good background check.
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