If you have ever received money from a friend or relative living abroad or if you live and work in the diaspora and need to send money back home to Rwanda, it is likely that you are familiar with several digital money transfer services.
The pandemic has proved a significant growth catalyst for the digitization of remittance services. As such, many of the major international remittance players have posted significant increases in the use of digital solutions. As more online money transfer services go to market, it is important that consumers know how to choose a service that fits their needs.
Knowing the difference between a good online money transfer service and a great one is important regardless of whether you are sending money or receiving it.
As part of our coverage on the financial and technology sector, we are focusing on WorldRemit – a leading globalpayments company that is headquartered in London and that has a strong and growing presence in more than 130 countries globally.
The service allows you to easily and quickly send from more than 50 countries to recipients in 130 countries around the world via the WorldRemit app or website, which is available on Android and iOS.
Countries that have large Rwandan diaspora populations are covered – the U.S., Canada, U.K., France, Germany and other European countries, as well as countries in Australia, Asia and the Americas. You can get the full list of countries HERE.
Registering for a WorldRemit account is simple and easy. Because your WorldRemit account is linked to your bank, card or mobile wallet, you can simply send money with just a few taps on your mobile device or laptop. Within minutes your transaction will be processed, with all fees clearly labeled upfront.
Unlike traditional money transfer services that require you to travel to a physical location and speak to an agent in-person to send money abroad, WorldRemit is 100% digital (cashless), thereby enhancing convenience and security. The absence of physical agents also reduces WorldRemit’s cost of remittances, allowing it to pass on the cost savings to users through affordable fees.
For those receiving money in Rwanda, WorldRemit offers a wide range of options, including cash pick-up and mobile money. More options mean greater convenience. Conversely, for those who want to collect their transactions in hard currency, you are able to at a safe location. You may even want to receive money – especially if it is small amounts – as airtime; this may prove useful for people like students or those that work online and need data bundles.
What we liked
- ● There is comfort in knowing that all connections to WorldRemit through the website and mobile app are secured and encrypted so that information exchanged between your browser and the site is not accessible to any third party.
- In the online money transfer space, safety, security and privacy are highly important considerations when selecting a service.
- We also liked the fact that WorldRemit’s customer care team is responsive and available 24/7. Even with the best technology, you sometimes need human intervention at times of need – this is particularly true when you are expecting money or have sent money.
- Customer reviews are important in assessing what service to use. The app has an aggregate rating of 4.2 stars out of 5 on Google Play, received more than 125,000 5-star reviews on TrustPilot and an overall TrustPilot rating of over 4 stars.
+Simple, fast and affordable
- The speed, simplicity and affordability of sending money via WorldRemit are certainly worth mentioning. It is also convenient to receive money, given the options available to customers – cash pickup, airtime top up, mobile money and bank deposit.
We’re a leading global payments company and, along with Sendwave, part of Zepz, a group powering two global payments brands.
We disrupted an industry previously dominated by offline legacy players by taking international money transfers online – making them safer, faster and lower-cost. We currently send from 50 countries to recipients in 130 countries, operate in more than 5,000 money transfer corridors worldwide and employ over 1,200 people globally.
On the sending side, WorldRemit is 100% digital (cashless), increasing convenience and enhancing security. For those receiving money, the company offers a wide range of options including bank deposit, cash collection, mobile airtime top-up and mobile money.
Backed by Accel, TCV and Leapfrog – WorldRemit’s headquarters are in London, United Kingdom with regional offices in the United States, Canada, Australia, Malaysia, South Africa and Belgiumwww.worldremit.com