Compare WorldRemit vs TransferWise

WorldRemit Ltd Logo
Trustpilot Rating
Reviews 41,787 | 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.

Transferwise Ltd Logo
Trustpilot Rating
Reviews 94,805 | Excellent
 (4.6)

Transferwise Ltd is an electronic money institution focused on international money transfers. Transferwise Ltd offers prepaid cards, international money transfers, virtual accounts with IBAN to individuals, businesses. In 2019 Transferwise Ltd had total assets of 1,108.80 mln GBP, Transferwise Ltd generated net income of 10.30 mln GBP. Incorporated in the United Kingdom, Transferwise Ltd is authorized and regulated by the Financial Conduct Authority.

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

View WorldRemit Profile +

TransferWise Business Focus
international money transfers
TransferWise Products
  • prepaid cards
  • virtual accounts with IBAN
TransferWise Services
  • international money transfers
TransferWise Clients
  • individuals
  • businesses

View TransferWise Profile +

Compare Money Transfers

WorldRemit TransferWise
Speed0-2 days0-2 days
Amount Rangen/a1.00 EUR - 1,200,000 EUR
Countries150+ countries60+ countries
Currencies110+ currencies40+ currencies
Sending From
  • bank accounts
  • debit cards
  • credit cards
  • WorldRemit wallets
  • Transferwise accounts
  • bank accounts
  • payment cards
Receiving To
  • bank accounts
  • mobile phone accounts
  • cash pick-up points
  • airtime top-ups
  • physical cash door-to-door
  • WorldRemit wallets
  • Transferwise accounts
  • bank accounts
  • payment cards
Transfer Options
  • one-time payments
  • recurring payments
  • one-time payments
  • regular payments
  • batch payments
  • direct debits
  • large amounts transfers
Make Transfer Make Transfer
 

Transfer Costs

WorldRemit

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

TransferWise

Transfer Fees
How much a particular Transferwise transfer costs depends on three things — the amount being sent, the payment method, and the exchange rate.
Exchange Rate
Transferwise ensures that its customers get mid-market rate — it’s the one banks use to trade between themselves.

Transfer Speed

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.

TransferWise

Transferwise provides an estimated delivery time for every transfer. In general, the delivery time depends on the following:

  1. Sending and receiving countries and currencies.
  2. Payment method. Some payment methods and faster than the other. For example, card payments are normally instant, while bank transfers take longer.
  3. Transfer initiation time. Transferwise can handle the money during normal banking hours.
  4. Security checks. Sometimes Transferwise needs to verify sender's ID, address as well as other details. Such verification can add extra time to your transfer on top of the initial estimation.

Sending Countries

WorldRemit

WorldRemit provides sending money from 50+ countries.

TransferWise

Transferwise offers sending money from a sender's Transferwise account, so sending money is available for all countries where Transferwise Borderless account is offered. Transferwise Borderless account is offered worldwide expect for several sanctioned countries and territories.

Receiving Countries

WorldRemit

WorldRemit supports sending money to 150+ countries.

TransferWise

TransferWise allows to send money to 50 countries, namely:

SEPA-Countries (Europe)
AR Argentina
AU Australia
BD Bangladesh
BR Brazil
BG Bulgaria
CA Canada
CL Chile
CN China
CO Colombia
HR Croatia
CZ Czech Republic
DK Denmark
GE Georgia
HK Hong Kong
HU Hungary
IN India
ID Indonesia
IL Israel
JP Japan
KE Kenya
MY Malaysia
MX Mexico
MA Morocco
NP Nepal
NZ New Zealand
NG Nigeria
NO Norway
PK Pakistan
PE Peru
PH Philippines
PL Poland
RO Romania
RU Russian Federation
SG Singapore
ZA South Africa
KR Korea, Republic of
LK Sri Lanka
SE Sweden
CH Switzerland
LI Liechtenstein
TH Thailand
TR Turkey
UA Ukraine
AE United Arab Emirates
GB United Kingdom
US United States
VN Vietnam
EG Egypt
GH Ghana

Sending Methods

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

TransferWise

Transferwise Account
TransferWise offers instant transfers between TransferWise account holders.
Bank Account
TransferWise allows to send money from a sender's bank account: the sender should send money to TransferWise own bank account in the sender's country.
Payment Card
TransferWise supports sending money from payment cards the same way as from bank accounts.

Receiving Methods

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.

TransferWise

Transferwise Account
TransferWise offers instant transfers between TransferWise account holders.
Bank Account
Delivering money to bank accounts is the main receiving method in TransferWise.
Payment Card
TransferWise can deliver CNY to UnionPay card holders based in China.

Advantages and Disadvantages

Advantages of WorldRemit Transfers

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

Advantages of TransferWise Transfers

Broad countries coverage
Available for individuals and business entities
Suitable for large transfers

Disadvantages of WorldRemit Transfers

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

Disadvantages of TransferWise Transfers

Have to open a current account with TransferWise
Receiving money mainly to bank accounts

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.


How TransferWise Transfers Work

1.
Create account
Create and verify your TransferWise account
2.
Enter transfer's details
Provide the recipient’s details and the amount you want to send. Note that the recipient doesn't need a TransferWise account, just a bank account.
3.
Pay for your transfer
Pay by credit or debit card or make a local bank transfer to TransferWise’s bank account in your country. You don't have to link your bank account to TransferWise (unless you’re sending from Canada or the US).
4.
Transfer processed
TransferWise has local bank accounts in countries all over the world. So often TransferWise is able to use money from a TransferWise user sending money the other way around.
5.
Transfer completed
If you provide your recipient’s email address, the recipient will get a notification that the money is on the way.


See Also