Several specialist overseas money transfer companies have entered the growing international remittance market since the turn of the last century. However, while some have lived up to customer expectations, the same cannot be said about all the new entrants. If you plan to use WorldRemit or Revolut, you may rest easy, given that both offer reliable services.
To find out where the Revolut vs. WorldRemit comparison stands in the real world, consider turning to Trustpilot. Here, WorldRemit gets an average score of 9.5 out of 10, whereas Revolut averages at 7.7 out of 10. This, though, does not imply that one company will work better for you than the other, because different factors require your consideration.
Side By Side
|Competitive exchange rates and low fees||Competitive exchange rates and low fees|
|No monthly fees||Monthly fees depend on the type of account you select|
|UK-based, offices also in the U.S., Canada, Australia, New Zealand, and Japan||Headquartered in the UK, offices in Russia, Poland, the U.S., Singapore, and other countries|
|Supports transfers to most countries||Supports transfers to more than 30 countries|
|No multi-currency account||Get bank account details in GBP and EUR|
|Sign up as an individual||Register as an individual or a business|
|No scheduled transfers||Allows scheduling of transfers|
Pay attention to these aspects in deciding whether you should use Revolut or WorldRemit for your next cross-border money transfer:
- Exchange Rates
- Multi-Currency Bank Accounts
- Debit/Travel Cards
- Ease of Use
- Regular Overseas Payments
One company fares better than the other in this section of the Revolut vs. WorldRemit comparison.
- The fees you need to pay depend on the desired transfer method, the destination country, and, in some cases, the transfer amount.
- Sending money to a cash pickup center is typically more expensive than a bank account transfer.
- You get to know of the fees you need to pay ahead of time.
- You may get additional information about the company’s fee structure in the WorldRemit review.
- Cross-currency exchanges of up to £5,000 or its equivalent in other currencies per rolling month do not attract any fees.
- If you exceed the £5,000 limit, a fair usage fee of 0.5% applies.
- You may register as a premium member and get unlimited free exchanges.
- While standard transfers for regular users are fee-free, turbo transfers come at an added cost.
- You may view the company’s pricing details online.
The WorldRemit account does not come with any kind of a debit or travel card. Revolut customers get to choose from three cards – standard, premium, and metal. While the standard card comes with no monthly fees, you need to pay an ongoing fee to maintain the premium or metal card.
- Fee-free ATM withdrawal limits and exchange fees depend on the card you hold
- Premium and metal cardholders get instant access to as many as five cryptocurrencies
- Premium and metal cardholders get access to complimentary insurance covers
- Metal cardholders may spend up to £30,000 each year
- Metal cardholders may spend up to £5,000 in a 96 hours period
- Metal cardholders may withdraw up to £2,000 from ATMs per day
Ease of Use
Selecting Revolut or WorldRemit may depend on different aspects surrounding ease of use so pay particular attention to these points.
- Website access comes in English, French, and Spanish.
- Depending on where you live, you may pay using your bank account, a debit card, a credit card, POLi, iDEAL, or Interac.
- WorldRemit lets you transfer funds to bank accounts and cash pickup locations.
- It lets you top off mobile airtime and wallets of some countries.
- The company provides apps for devices that run on iOS and Android.
- You may use the Revolut website in English, French, Spanish, Polish, German, Lithuanian, and Romanian.
- You may pay for your transfer using your bank account, a debit card, a credit card, Apple Pay, or Google Pay.
- You may transfer money overseas only by using the Revolut app.
- You get to choose between standard and turbo transfers.
- Get a free current account from the UK and a free euro IBAN account without a credit check or proof of address.
- You may hold funds in up to 25 currencies.
- The Revolut Visa and Mastercard prepaid cards give you easy means to access your money in more than 130 currencies.
- You may buy, hold, and exchange cryptocurrencies such as Bitcoin, Litecoin, and Ether.
Regular Overseas Payments
Whether you should turn to WorldRemit or Revolut also depends on your need to schedule payments. While Revolut gives you the ability to set up recurring payments easily, WorldRemit does not offer this feature yet.
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