Are you, like many others, wondering if you should use the services of TransferWise or WorldRemit? If so, you have come to the right place. The first thing you should know is these specialist money transfer companies offer better deals than most banks. However, when it comes to making a TransferWise vs. WorldRemit comparison, is one company better than the other?
If you look at feedback provided by thousands of users on Trustpilot, you will see that while TransferWise averages at 9.6 out of 10, WorldRemit gets 9.5 out of 10. These scores show that customers of both companies rate them well. So, how do you decide which one to select?
Choosing TransferWise or WorldRemit requires that you take your individual needs into account at the onset. Make your decision after checking all the sections of this comparison:
- Exchange Rates
- Ease of Use
- Regular Overseas Payments
International Money Transfer Fees
This section of the TransferWise vs. WorldRemit comparison requires your particular attention because of the varied fee structures both companies follow.
- The TransferWise website lets you check how much a transfer might cost without you actually having to initiate a transfer.
- The fee you have to pay for a TransferWise transfer is a nominal percentage of the amount you wish to transfer. Some destination countries attract lower fees than others.
- The TransferWise fee breakdown table will give you a clear indication of how much you have to pay as fees.
- The fees this company charges can vary according to desired transfer methods.
- Transferring funds to cash pick-up centers usually attracts higher fees when compared to bank account transfers.
- The company notifies you about the fees it charges before confirming your transfer.
- Check the WorldRemit review for more information.
Ease of Use
Whether you should use TransferWise or WorldRemit can depend upon the language you prefer. Signing up with both companies takes no more than a few minutes. However, both companies verify your credentials before activating your account.
- Access to the WorldRemit website comes in English, French, and Spanish.
- International customers can make payments via electronic bank transfers, debit cards, and credit cards.
- Other country-specific payment methods include POLi, Interac, and iDeal.
- Depending on the destination country, WorldRemit lets you transfer funds to bank accounts and cash pick-up centers.
- You can also use its services to top off mobile airtime and wallets in some countries.
- TransferWise provides access to its website in English, German, Spanish, French, Italian, Hungarian, Polish, Portuguese, Russian and Japanese.
- By using your Google or Facebook account to register, you can speed up the process.
- The company provides services to individuals, businesses, and online sellers.
- Acceptable payment methods include debit cards, credit cards, and electronic bank transfers.
- The company provides apps for iOS and Android devices.
Regular Overseas Payments
Selecting WorldRemit or TransferWise will not be beneficial if you want to schedule transfers in the future, since neither offers this feature yet. To set-up scheduled transfers, consider using TorFX, World First, OFX, or Currencies Direct.
- Do HiFX have adequate competition or is it all the same with a different name?
- Read about TransferWise features and their pro’s and con’s.
- Is there anyone better than TransferWise?