Compare UKForex vs WorldRemit

UKForex Ltd Logo
Trustpilot Rating
Reviews 3,961 | Excellent
 (4.3)

UKForex Ltd is an electronic money institution focused on foreign exchange and international payments. UKForex Ltd offers international money transfers, foreign exchange, e-wallet accounts to individuals, small- and medium-sized businesses, online sellers. In 2019 UKForex Ltd had total assets of 19.86 mln GBP, UKForex Ltd generated net income of 997,869.00 GBP. Incorporated in the United Kingdom, UKForex Ltd is authorized and regulated by the Financial Conduct Authority. UKForex Ltd is doing business as OFX.

WorldRemit Ltd Logo
Trustpilot Rating
Reviews 41,101 | Excellent
 (4.5)

WorldRemit Ltd is an electronic money institution focused on international money transfers. WorldRemit Ltd offers international payments, digital wallets to individuals. In 2018 WorldRemit Ltd had total assets of 85.17 mln GBP, WorldRemit Ltd generated net income of -44,762,031.00 GBP. Incorporated in the United Kingdom, WorldRemit Ltd is authorized and regulated by the Financial Conduct Authority.

UKForex Business Focus
foreign exchange and international payments
UKForex Products
  • e-wallet accounts
UKForex Services
  • international money transfers
  • foreign exchange
UKForex Clients
  • individuals
  • small- and medium-sized businesses
  • online sellers

View UKForex Profile +

WorldRemit Business Focus
international money transfers
WorldRemit Products
  • digital wallets
WorldRemit Services
  • international payments
WorldRemit Clients
  • individuals

View WorldRemit Profile +

Compare Money Transfers

UKForex WorldRemit
Speed0-3 days0-2 days
Amount Range100 GBP - unlimitedn/a
Countries197 countries150+ countries
Currencies55+ currencies110+ currencies
Sending From
  • bank accounts
  • debit cards (UK GBP)
  • bank accounts
  • debit cards
  • credit cards
  • WorldRemit wallets
Receiving To
  • bank accounts
  • bank accounts
  • mobile phone accounts
  • cash pick-up points
  • airtime top-ups
  • physical cash door-to-door
  • WorldRemit wallets
Transfer Options
  • one-time payments
  • regular payments
  • large amounts transfers
  • one-time payments
  • recurring payments
Risk Management
  • forward exchange contracts
  • target rate orders
Make Transfer Make Transfer
 

Transfer Costs

UKForex

Transfer Fees
Zero transfer fees for all transfers (special offer for registrations from TheBanks.eu). Note: $15.00 standard fee is normally charged for transfers under $10,000 at OFX; there is no transfer fee when transferring over $10,000.
Exchange Rate
OFX delivers competitive exchange rates, so you can save up to 75% on the exchange rate margin and keep more of your money.

WorldRemit

Transfer Fees
Zero fees on your first money transfer.
Exchange Rate
Exchange rate is displayed upfront.

Transfer Speed

UKForex

OFX's global network of banks allows us to transfer money overseas securely and quickly. Most other major currency transfers may arrive within 1-2 days (from the time OFX receives your funds). While banks require that you submit your money transfer orders during their business hours, OFX operates 24 hours a day, 7 days a week.

WorldRemit

In most cases, transfers sent using WorldRemit arrive within minutes.
In general, the delivery time will be as follow:

  • Cash Pickup. Available to collect instantly.
  • Mobile Money. Within minutes.
  • Airtime top-up. Within minutes.
  • Bank transfer. Transfers within minutes are available to selected banks; other thing the timing depends on include: the bank, day of the week, transacion creation time.

Available Currencies

UKForex

AEAED (UAE dirham)
AUAUD (Australian dollar)
CACAD (Canadian dollar)
CHCHF (Swiss franc)
DKDKK (Danish krone)
EUEUR (Euro)
GBGBP (Pound sterling)
HKHKD (Hong Kong dollar)
HUHUF (Hungarian forint)
ILILS (Israeli shekels)
JPJPY (Japanese yen)
MXMXN (Mexican peso)
NONOK (Norwegian krone)
NZNZD (New Zealand dollar)
PLPLN (Polish złoty)
SESEK (Swedish krona/kronor)
SGSGD (Singapore dollar)
THTHB (Thai baht)
TRTRY (Turkish lira)
USUSD (US dollar)
ZAZAR (South African rand)
AZAZN (Azerbaijani Minat)
BGBGN (Bulgarian lev)
BHBHD (Bahraini Dinar)
BNBND (Brunei Dollar)
CNCNY (Renminbi (Chinese) yuan)
CZCZK (Czech koruna)
EGEGP (Egyptian Pound)
FJFJD (Fijian Dollar)
IDIDR (Indonesian rupiah)
ININR (Indian rupee)
KRKRW (South Korean won)
KWKWD (Kuwatiti Dinar)
LKLKR (Sri Lankan Rupee)
MAMAD (Moroccan Dirham)
MGMGA (Malagasy Ariary)
MYMYR (Malaysian ringgit)
OMOMR (Omani Rial)
PEPEN (Peruvian Nuevo Sol)
PGPGK (Papua New Guinea Kina)
PHPHP (Philippine peso)
PKPKR (Pakistani rupee)
RURUB (Russian ruble)
SASAR (Saudi riyal)
SBSBD (Solomon Island Dollar)
SCSCR (Seychelles Rupee)
TOTOP (Tongan Pa anga)
TWTWD (Taiwanese Dollar)
TZTZN (Tanzanian Shilling)
VEVEF (Venezuelan Bolivar Fuerte)
VNVND (Vietnamese Dong)
VUVUV (Vanuatu Vatu)
WSWST (Samoan Talar)
XOF (West African CFA Franc)
XPF (CFP Franc)

Sending Methods

UKForex

Debit Cards
Available for Visa debit cards in GBP issued for UK customers.
Bank Accounts

WorldRemit

Bank Transfer
Sender needs to transfer the full amount from his/her own bank account into WorldRemit's bank account.
WorldRemit Wallet
Transfers are instantly processed and the Wallet allows your recipient to receive, send and withdraw funds in multiple currencies.
Payment Cards
WorldRemit accepts most types of debit, credit and pre-paid cards that are issued by Visa or Mastercard. WorldRemit cannot accept cards from the following issuers:

  • Amex
  • Diner’s Card
  • Union Pay

Other Methods
  • Poli
  • Interac
  • iDEAL
  • Sofort
  • Apple Pay
  • Trustly

Receiving Methods

UKForex

Bank Accounts
OFX supports transfers to bank accounts only.

WorldRemit

Mobile Money
Most mobile money services are offered by local mobile telecoms operators who have received a license to operate electronic payments services. Before sending money to a mobile money service using WorldRemit, please make sure that your recipient has a mobile money account.
Cash Pickup
Cash pickup transfer is a payment that your recipient can collect as physical cash from a supported location within WorldRemit's local partner network.
Bank Transfer
Direct to bank is a transfer when the money i s delivered straight to the recipient’s bank account.
Airtime Top-up
Top-up is adding credit to a pre-paid phone. Airtime top ups sent via WorldRemit are usually instant.
WorldRemit Wallet
Transfers are instantly processed and the Wallet allows your recipient to receive, send and withdraw funds in multiple currencies.

Sending Countries

WorldRemit

WorldRemit provides sending money from 50+ countries.

Receiving Countries

WorldRemit

WorldRemit supports sending money to 150+ countries.

Advantages and Disadvantages

Advantages of UKForex Transfers

Zero transfer fees
Spot and forward contracts
Support for limit orders
Available for individuals and business customers

Advantages of WorldRemit Transfers

Broad coverage of countries
Variety of sending options
Variety of receiving options

Disadvantages of UKForex Transfers

Receiving money to bank accounts only

Disadvantages of WorldRemit Transfers

Have to open an account and pass identity verification
Account opening available to individuals only

How UKForex Transfers Work

1.
Register with OFX
Register, get verified and login.
2.
Setup Transfer
Enter your recipient’s bank account details and lock-in your transfer.
3.
Send Funds
Simply send your funds to us via Debit Card (Personal transfer only) or Electronic Funds Transfer and OFX will do the rest.


How WorldRemit Transfers Work

1.
Create your account
Register for free at WorldRemit website or download WorldRemit app.
2.
Provide transfer details
Choose to send to one of 150 countries and add your transfer method.
3.
Choose how much you want to transfer
You will see WorldRemit fees and exchange rate upfront.
4.
Add the recipient's details
Or choose from a list of people you’ve sent to before.
5.
Pay for your transfer
You can pay for the transfer with a payment card (debit, credit and prepaid), bank transfer, Poli, Interac, iDEAL, Klarna, Apple Pay, Trustly.


See Also