As the name suggest it means remitting money to anywhere in world. Thus it is a platform where one can remit the money online to his/her family and friends who are staying abroad using their Smartphone, computer or tablets.
The WorldRemit was found by Ismail Ahmed who saw the opportunity of transferring funds and made it more convenient while studying in university. In 2010 Ismail thought that the technology was right way to support fund transfer online and thus he made WorldRemit.
It’s an online site which is very low-cost and convenient way to send the money abroad as compared to the regular companies that exist who charge high fee and there street agents are high too. The money that is sent can be received as mobile money, bank deposit, cash pick up or mobile airtime top up.
The service of WorldRemit is available to senders of 50 countries. They all can transfer to other 120 destinations across America, Australia, Europe, Asia and Africa. The boon of internet has improved our life to a great extent. We are aware how fast we can buy from online store or can send an email. WorldRemit is working on the same grounds, the service is easy, low cost, secured and simple to use.
The present scenario of global communication is instant. But sending money abroad has not seen much of a change. The money that was transferred by other companies was very tedious and involved a lot of paper work and the transferring charges were also very high causing inconvenience to the customer. Whereas WorldRemit made the entire process of transferring money much easier, less time consuming and more secured. The company is working to make this service a low cost alternative as compared to high cost fee of other companies.
Sending the money through WorldRemit is very safe as it uses Norton certified technology which will communicate with the Smartphone once the connection is authenticated with the website or the app. And sending money this way is much safe than carrying bulk cash to make the remittance aboard through money transferring agents. Its main aim is to transfer the money to the recipient as and in what way he wants it.
The money can be transferred in three simple steps:
1) Selecting the country- we have to select the country in which we want to send the money and in what form the recipient wants the money and what amount you want to send. There fee and guaranteed exchange rates are displayed clearly on the website.
2) Details of Recipient- choose the person from the existing list or you can add a new recipient by adding the name and necessary information like address and the bank account details on your WorldRemit account.
3) Sending the money- After deciding in what way you want to transfer the money, the money can be transferred from debit or credit card or net banking of your bank account which is very safely covered by the Intrace, Ideal, Sofort and Poli software. After that a confirmation is given to the customer and the recipient by an email/sms when the money will be sent and received.
Money can be received in the following ways:
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1) Money can be received in the bank account of recipient.
2) Money can be made available for cash pick up from the local agent.
3) Mobile money can be credited to the recipient mobile.
4) Top-ups can be done to the airtime of recipient mobile. Mostly the top-up is done instantly but sometimes due to congestion it may take a little time.
5) The recipient can also have the money delivered to his home. (Only in Philippines)
Above all the ways of transmitting or receiving the money depends on the countries being dealt as covered by WorldRemit .However it does not deal in physical cash as it will be very difficult to carry online transactions. Payments can be done either by credit or debit card or through bank account. Even the maximum amount to be transferred depends on the country you are living as all countries have different rules and even the banks cards have different things to be taken care. Thus WorldRemit is also a trend setter for the people who want to transact online for there know abroad as it is beneficial and safe too.
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