What is Worldremit?
WorldRemit is an international money transfer service founded in 2010 that focuses on migrant remittances. The company aims to provide a low-cost, secure way for migrant workers to send money back home to their families via cash pickup, bank deposit, or mobile money.
Key features of WorldRemit include:
- Easy-to-use website and mobile apps for sending money quickly to over 150 countries
- Multiple payout options including bank account, cash pickup, and mobile money
- Competitive exchange rates and low-fee pricing structure
- Use of digital technology for ID verification, reducing risks associated with money laundering
- Partnerships with leading banks and financial institutions around the world
- Focus on customer service - 24/7 support via chat, email, phone
As an online-only company with headquarters in London, WorldRemit can operate with lower overhead costs compared to legacy remittance companies that maintain physical stores and agents. These cost savings allow WorldRemit to charge significantly lower fees, especially for transfers to developing regions like Africa and Asia.
Since its founding, WorldRemit has expanded rapidly and gained strong popularity by emphasizing convenient digital money transfers. It now processes over 10 million money transfers every year for its 9 million customers.