Home Remittance How does WorldRemit works?

How does WorldRemit works?

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1. How does WorldRemit works

WorldRemit is an online remittance company that allows you to create and pay for your remittance online. Their Mobile Money service, which is an electronic wallet, allows users to store, send and receive money using their mobile phone, an excellent alternative to bank accounts. Other than Mobile Money, you can remit to a bank account, cash pickup agent or via airtime top-up.

2. What do you need to send money WorldRemit?

Before remitting your money to your recipients, your identity needs to be verified. Please ensure that it is a high-quality photo or scan of a valid ID showing:

• Document number

• Your photo

• Your full name

• Your date of birth

• Your signature

• An expiry dates

• The place of issue (if any)

• The entire machine-readable zone (the two lines of letters and numbers at the bottom of the document) if present

3. How do I send money on WorldRemit ?

Open an account
– Open a free account WorldRemit Website Enter the details about your recipient
– Tell WorldRemit where you need to send money and to whom Set-up your transfer with WorldRemit
– Enter how much money you want to send and how you want to pay for your transfer Pay for your transfer
– Fund your transfer by making a local bank transfer or pay by debit or credit card Let WorldRemit do the rest
– WorldRemit will convert your money in the recipient’s currency and send it to him through the selected pay-out option

4. Is WorldRemit good

As WorldRemit do not have a physical presence, this made their cost low thus offering their customers competitive fees and exchange rates. The services are easy to use, and they have a 24 hour support centre that can help with your enquires anytime.

5. Is WorldRemit safe?

With their industry-leading technology, they guarantee the money you send will arrive safely to the recipient. They are licensed around the world, so you can be sure we meet the highest possible standards.

6. How long does the money reach the recipient?
Does WorldRemit send money instantly?

They are fast and straightforward. The funds you send to your family or friends can be received in a matter of minutes. Mobile money and Airtime top-up availability can be instant or near-instant. Cash Pickup, you can collect instantly. But Bank Transfer the timing depends on the bank, day of the week and transaction creation time.

7. Is WorldRemit cheaper than bank transfer?

WorldRemit has a tiered fee structure and a limit on the amount you can transfer per remittance. Thus they are not so competitive if you need to make large transfers. For a huge amount, you may need to remit a few times and therefore increased your cost for fees.

8. How can I track my WorldRemit money?

WorldRemit allows you to track your transfers. If you have provided your recipient phone number or email, WorkdRemit will notify you and your recipient via email and SMS once the remittance completes. You may also contact their customer service https://www.worldremit.com/en/contact-us with your transaction number.

9. Does MAS regulate WorldRemit?

WorldRemit (Singapore) Pte Ltd is a company registered in Singapore with the Unique Entity Number 201328515C, and is a Registered Remittance Business with the Monetary Authority of Singapore under Licence No – RA No. 01506

10. Is WorldRemit better than bank?

Worldremit does offer better exchange rates than banks. But the exchange rates are higher than the interbank rate so there are not necessarily the best rates. To know if you are getting a good deal on the exchange rates, you only need to see how much money is going actually to arrive and compare that with other services. You can check https://remit.cashchanger.co/ to compare.

11. Does WorldRemit have a fee?

WorldRemit charges you transfer fee on each transaction that can be range from $3.99 to $24.99 depending 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.

12. What is the maximum I can transfer with WorldRemit?

The maximum amount you can transfer which is through bank transfer is SGD 10,000 per transaction and (per 24 hours??). This transaction must be supported by Singaporean bank details an example:
• Account Name: WorldRemit (Singapore) Pte Ltd • Bank Name: DBS Bank Ltd (Bank Code: 7171) • Branch Code: 003 • Account Number: 003-946717-6 If payment is not received within seven days after the creation of the transaction, the transaction will be voided.

13. Is there promo code for WorldRemit?

If you haven’t sent money using WorldRemit, they got a deal right now that is too good to miss! Use the code ‘3FREE’ and pay no fees on your first three money transfers until 31st March 2020. That’s right: you’ll be making savings on not just one, not even two, but on three whole transfers with us. The rest of your transfers will be just as fast, easy and still low cost.

As always, for money changers’ rates visit
Web: https://cashchanger.co
Telegram: https://cashchanger.co/telegram
Facebook: https://fb.me/cashchanger


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