WorldRemit is a digital payments platform that provides international money transfer and remittance services to users in more than 130 countries. The service also supports over 70 currencies of the world. WorldRemit started in 2010 under the leadership of Catherine Wines, Ismail Ahmed, and Richard Igoe. As we shall see, there are various kinds of transactions that you can do with the platform. We will see how WorldRemit money transfer services happen shortly.
Money transfer services are essential since you can move money virtually from one person to another. You do not need to move from one place to another to deliver money since digital money services have eliminated the process. WorldRemit is a digital platform for sending money and allows instant money transfer to those using the service. The earlier times saw people sending money using messengers or companies, then later to money orders which have since been outdated.
To get started with WorldRemit, you must create an account online since the platform operates online. The good thing with the platform is that it allows you to create an account no matter where you are, so long as your country’s government allows it. It is not like companies such as Venmo and Cash App localized within the United States. The account opening cannot take much time, especially if you have a secure, fast, and consistent internet connection.
Process That WorldRemit Money Transfer Work
It is necessary to know how the platform works before opening an account with them. Your WorldRemit Wallet allows you to send and receive money in various currencies using the WorldRemit app. The app is convenient and safe to use. As I mentioned earlier, the app is available on Google Play or the App Store.
The only disadvantage with the wallet is that it is limited to a few countries. However, any WorldRemit customer can send funds to a WorldRemit Wallet. The Wallet is part of the WorldRemit app. Remember that you can also store money in your app as it is not all about sending and receiving money.
You also need to understand that you can also use WorldRemit services on the company’s website using your computer. Therefore, you do not need the app to carry out various transactions. The following is a breakdown of how the platform operates.
The first step is to open your account with your email and enter a strong password. The app or the website is suitable to register. After opening your account, you can start a transfer whereby you must select the recipient country, enter an amount, and choose the recipient’s method to receive their funds. You then enter the receiver’s details depending on how they receive the funds. After that, you should pay for your transfer to send the funds.
Method To Send Funds From Your WorldRemit Wallet
To transfer money from your account to someone else, you need to follow a few steps, and you are done. The following is the method you can use to send money to others.
- Open your app to log in to your account.
- Navigate to the ‘Wallet’ tab, and select one of the currency account tiles you want to send money from.
- Choose the ‘Transfer’ option.
- Choose a new or existing recipient.
- Enter the amount to send and see the applicable fees and exchange rate clearly shown. And by the way, WorldRemit is among the cheapest ways to send money internationally and even within the country.
- Select the suitable way to pay the recipient. You can send them money to collect the funds at a cash pickup location and send it to their bank or mobile wallet.
- Tap ‘Pay now’ to allow the transfer. Once the transfer is finished, you and the recipient will receive a confirmation email about the transfer. You and the recipient will also get updates about the transfer via SMS.
The Way To Receive Funds On WorldRemit
If you have already created your Wallet, you don’t need to do anything. Once the sender sends you money, it will go straight to your account in the correct currency. Receiving money is free of charge, and therefore you get your money as intact as it was sent.
If someone sends you money using the WorldRemit Wallet and you haven’t signed up for one yet, you will still get the money. However, you have 14 days to register for a wallet and claim the funds. If you do not sign up for your account within the given time, WorldRemit will return the funds to the sender.
You can receive funds on WorldRemit into your bank account, mobile wallet, at a pickup location, airtime top-up (money enters directly to your carrier network to cover your phone bill), and physical cash delivery straight to your door as long as you present a valid ID that matches the details used by the sender.
Is It Possible To Send Money To Someone Who Is Not On WorldRemit
You do not need to have a WorldRemit account to receive finances on the platform. People can send money to your bank account, whereby you can withdraw the funds over the counter or use an ATM if your account has a debit card.
Another way you can receive money without an account with the platform is by cash pick up. There are various physical places where you can pick up your money sent by others. You only need to show your identification document and the reference number for the transfer.
Reasons To Use WorldRemit To Send Money
We have numerous reasons you may opt for WorldRemit to send or receive money. They include the following:
- The transfers are fast. 95% of the platform transfers are ready in minutes. If there are delays, it may be due to technical issues. Or having used the wrong details for the recipient.
- The platform is safe. WorldRemit utilizes industry-leading technology to protect your funds. Therefore, you do not have to worry about online security issues. You might have heard of people losing money online, but at WorldRemit, those are rare cases.
- Low-cost. As I mentioned earlier, WorldRemit is one company that charges low fees to send money. They also offer competitive exchange rates than most conventional banks and money transfer companies.
- Several options to receive money. WorldRemit allows you to receive money on your mobile app, in your bank account, or at a pickup location.
- Mobile app to help you easily manage your finances other than using web-based services.
- Easy to sign up
- Supports multiple currencies.
- Allows you to send little amounts. The minimum amount you can send through WorldRemit is $1. Therefore, that makes the service more accommodating. You can pay for your transfers using various options, including your bank account, credit card, or debit card.
WorldRemit is a digital payments platform that provides international money transfer and remittance services in more than 130 countries. The company also supports over 70 currencies globally, whereby you can open your account online using a smartphone or computer.
The recipients can get their money at a pickup point, in their mobile wallets, into their bank account, or their physical address. You can also receive funds as a mobile top-up.