WorldRemit accepts prepaid cards that are issued by Visa or MasterCard. During a 24-hour period, you can send up to $9000, and in a single transaction, you can send up to $5000. They also accept Credit and debit cards, Android Pay and Apple Pay and bank account transfers. WorldRemit, however, does not accept payment from  American Express, Diner’s Card, Union Pay and Google pay. Once you send money to a recipient using their acceptable payment methods, WorldRemit sends the tracking number, which is usually a 10-digit number, to both the sender and the recipient. You can track the s10-digit transaction online or through their app.

Payments accepted by World remit

Credit and debit cards

You are only allowed to send up to $5000 in a single transaction, and up to $9000 every day.

Android Pay and Apple Pay

The maximum you can transfer in a day is $9000, and you can send a  maximum of $300 in a single transaction.

Bank account transfers

You can send money to any bank in the United States using a checking, savings, or business account There may sometimes be some delays with this method based on the bank’s processing times. It is also important to note that if you are using this form of payment, the bank will charge its transfer fees, which are different from the service fees charged by WorldRemit.

Transfers using your bank account must be received 24 hours after your transaction was made. You can also send money using a business account, provided you provide documentation showing your name as having the authority to transact on that account.

You can use WorldRemit for the following:

To pay your bills internationally

Send airtime

Send cash to recipients globally in minutes.

Bank to bank and card to card transfers.

To receive money through WorldRemit,

Sign up for a WorldRemit account.

Select the amount and the country you will be sending the money to 

You will then be instructed to enter the recipient’s details and bank details 

Pay for your transactions.

Ways to collect money from WorldRemit

You can collect money from WorldRemit in the following ways:

Bank transfer

Cash pick-up from their designated centers

 Airtime

 Mobile money 

To collect money from WorldRemit, you need your reference number and ID. You will usually be notified by SMS when you have received the money. You must use the same number used by the sender to claim your money.

Frequent complaints from customers using WorldRemit include:

Payments are not going through.

 Processing of funds takes too long.

 The recipient did not receive the funds sent.

 Transfer canceled

Advantages of using World remit

secure, convenient, and reliable 

 Low and transparent fees

There is no minimum amount of money you can send.

Provide immediate cash collection delivery.

A very good app that works seamlessly, allowing you to check fees and exchange rates.

Many payment agents around the world offer near-instant cash delivery.

offers international payments directly to your bank account.

Multiple payment methods are accepted.

The Drawbacks of Using World Remit

You cannot reverse payments made because they use real-time instant money transfers.

 You cannot execute large transfers.

 There are other cheap bank transfer options.

 There are no hedging options.  

 not suitable for businesses.

World remit competitors

TransferWise

 Western Union

 Accel Partners and 

 Token, Inc.

WorldRemit’s competitive advantages are its widespread coverage, diverse payment options, and low fees.

Summary

WorldRemit accepts prepaid cards issued by Visa or Mastercard and also accepts other payment methods such as credit and debit cards, Apple Pay, Android Pay, and bank transfers. They, however, do not accept cards issued by Diners, American Express, or Union Pay. WorldRemit has numerous competitors just like any other company, but its competitive advantage is in its vast global presence, low and transparent fees, as well as providing various payment options to its customers. You can easily track the status of your remittance on their website or by using their tracker mobile app.

What is the processing time to receive money from World Remit?

1 to 2 business days.

Can you use WorldRemit to do a bank transfer without a bank account?

No, in order to utilize WorldRemit, you must have a bank account in your name.

Can you keep cash on WorldRemit’s servers?

WorldRemit has a multi-currency wallet where you can store money, but there are limits to the amount of money you can store for security reasons.