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World Remit is a popular digital payment service, that allows anyone to transfer, send, or money internationally, across 130+ countries. Currently, money can be sent from around 50 countries.
This online-only service is designed to be an easy-to-use, fast reliable, and of low charges.
The term ‘remit’ or remittance is another word for money transfer.
Who is it for?
Though WorldRemit is fairly for use by anyone and everyone; it’s of more help to migrants and foreign workers that seek cost-effective solutions to transfer their cash anywhere to anyone,
You can use world remit to send money to yourself – probably to your overseas bank account, or buy airtime online, or send it to your family and friends to cover their bills or personal use.
The purpose isn’t necessary, what’s important is – that the money is readily available wherever it’s required.
How does it work?
By using World Remit, you can send or receive money in over 70 currencies – via debit/credit cards, bank account, or mobile money platforms. Maximum limits for an amount to send; and transactional duration, both depend on a set of rules in both the registered country (where money is sent from) and destination country (where money is sent to)
For instance: Some countries may permit a maximum amount of $1,000 while others can allow up to $5,000. The delivery method plays a role in this as well. Cash delivery to the recipient door won’t be the same as mobile money or bank to bank transfer
Note: The maximum allowed transfer on WorldRemit is $50,000 per 24 hours.
Tip: Before sending, try to compare the foreign exchange rates and fees charged, to see what currency works best for you
The transfer fees on WorldRemit are quite friendly and may range between $1 to $4 per transaction, though it varies according to the amount being sent
Getting Started
To use World Remit, you’d need to first sign up for a user account. This is possible online, on their website (https://www.worldremit.com/), or via the official mobile app on Google Play/Appstore.
For security purposes, WorldRemit is required by law to verify its customers. Since different countries have different laws, the type of verification document differs.
Usually, a proof of address in a form of a driver’s license, or a Bank Account Statement, or a Utility bill; and a National ID or Passport is all you’d need.
Once you are verified and approved to use WorldRemit, you’ll be able to select the destination country, funds delivery method, as well as provide the recipient information.
Transparency
Before sending money, all associated cost and what the recipient will receive is shown on the app and you can decide to go ahead or cancel the transaction.
