Top 5 Remittance companies in 2022

 

Wise

Wise is internationally a famous remittance company. It is a secure and safe way of sending money internationally. Operational in 59 countries and have 12 offices worldwide. According to estimations around 4 Billion dollars are sent by this company.

Wise does charge a fee for sending money, but they are generally quite low, some as low as $1 dollar plus 10% of the total transfer amount per transfer. These low fees make TransferWise one of the best possible sites for transferring smaller amounts of money. For transfers that are larger than $10,000 dollars, though, other companies might be cheaper in the end. Despite these fees, there are no surprises or hidden fees, and TransferWise is very upfront and clear about all its charges.

Wise offers different sending options for its customers. The transfer of a high amount is done by the direct wire transfer method and also customers can use their debit card, credit card, or direct ACH transfers from bank to bank transfer.  The company also provides next-day transfer which is not available for every transaction.

Although purchasers can send money through TransferWise at any time, the receiver may not have access to the transferred money right away. For instance, if a customer sends money on a Friday evening, the recipient of the money may not be able to pick the money up until his or her bank or another institution opens once more, which could potentially be as late as the following Monday.

The biggest draw for most people who choose to use TransferWise is that they use the actual exchange rate released by the government, and they adjust their exchange rate as the exchange rate is adjusted. This means the purchaser is never paying an inflated exchange rate to transfer his or her money.

CURRENCY FAIR:

CurrencyFair has been in business for nearly a decade and has already facilitated the exchange of over 8 billion euros, which is the equivalent of right at 9 billion US dollars. It has a 4.7 out of 5-star rating on TrustPilot and is known and trusted globally. They are based out of Ireland and the United Kingdom, but they also have offices in Australia, Hong Kong, and Singapore, as well.

Setting up an account on their website is fast, free and easy, and it gives you access to sending and receiving money from over 150 different countries. CurrencyFair customers seem to use this company more as a way to receive money rather than transfer money, although both of those things can be accomplished through the company.

Receiving money that comes directly from a bank transfer into your CurrencyFair account is free; however, if you receive money into your account from any other type of transfer, there are fees associated with the process. The website also mentions that there may be other bank fees associated with the transfer process depending on any third-party institutions that have to be involved in the process. Two of Currency Fair’s most interesting and innovative features are its ChatBot and the ability for the customer to set up automatic transfers.

ChatBot is an online help tool that is available around the clock on the CurrencyFair website. It allows users to ask questions and work through problems in real-time without the hassle of sitting on the phone waiting for someone to pick up on the other end of the 1-800 line.

The automated transfer feature is fairly self-explanatory. Customers are able to set up automatic transfers to be sent up to two weeks before the actual transfer date. They can be canceled or adjusted during this time period, as well. There are detailed, step-by-step instructions on how to set up this process on the CurrencyFair website, and if you have trouble with the process, the ChatBot is always there to help, as well.

World Remit

WorldRemit has over 125,000 5-star reviews on TrustPilot and an overall TrustPilot rating of over 4 stars. This company allows you to send money to over 140 different countries globally. With WorldRemit, customers can also send money from over 50 different countries around the world.

There are some fees associated with sending money through WorldRemit, but they are reasonable, and their exchange rates are fiercely competitive. The company also takes its payment from several various sources including, but not limited to, the following:

• Google Pay
• Apple Pay
• Prepaid Cards
• Debit Cards
• Credit Cards
• iDEAL
• Trustly
• Bank Account Transfers
• and More!

Another thing that customers love about WorldRemit is that it offers several different and innovative ways to transfer your money to its recipient. In addition to the normal bank transfer option, WorldRemit also offers a cash pickup, a door-to-door payment method, an airtime top-ups method, and mobile methods of payment.

Cash pickups are exactly what they sound like. They allow your recipient to physically go to a trusted location with his picture id and the transaction reference and pick up cash money from a WorldRemit employee. These pickups can usually take place nearly instantaneously, as well, which is incredibly convenient for both parties. Door-to-door delivery is quite similar, except in that case, the money is delivered in cash to your recipient’s home.

Airtime top-ups are a little more abstract. Basically, any time a person connects a mobile phone to a telecom network, that person will be required to buy credit to utilize that particular Telcom network’s airtime. The airtime is, of course, what gives a person access to his or her phone’s functions, such as data, text messaging, voice mails, and more.

Adding this type of credit to a pre-paid cell is known as “topping up.” WorldRemit allows customers to top up their own phone or someone else’s phone through the site. These transfers, too, are almost always instantaneous.

Finally, mobile methods of transferring work very similarly to any digital wallet service, such as Google or PayPal Wallet.

In the United States, MoneyGram is probably one of the most recognizable brands of international money transfers there are. Stop by any Wal-Mart, head to the service desk or money center, and logos, and signs for MoneyGram will be everywhere.

Money Gram:

Even though they only have a 3.5 out of 5 stars rating, which is lower than some of the other companies’ ratings, MoneyGram is one of the most widely used money transfer services throughout the entire country. It also has one of the most comprehensive lists of countries to which they send money, including over 350,000 locations in more than 200 countries.

MoneyGram is one of the quicker methods of sending money, with many of their transfers arriving the very same day on which the transfers are purchased. In the case of banks being closed or on holidays, the transfers can sometimes take a little longer, but even so, they usually arrive by the next business day. There is a transfer and monthly limit, both of $6000 dollars.

Despite the wide variety of countries available and the speed and convenience of delivery, or perhaps because of those things, MoneyGram is one of the more expensive transfer services. They have, at times, added markups as high as three percent.

However, there is one other great benefit to using MoneyGram. They make it very easy for people without bank accounts to receive money because they have so many physical locations where people can go and pick up money that has been sent to them in person, without having to set up any accounts or go through any banks.

Remit Choice:

Remit choice is operational in 65+ countries and offers payments in 40 currencies. The services of this company can be availed through Credit cards, debit cards, and online bank transfers. Mobile top-up and bill payments facility also provided by this company. It is a secure and safe way of sending money internationally.

The business of this company is gradually expanding in distant areas of the world. With last year’s profit of $300 Billion, it stands among one of the top Remittance companies. The Rating of Remit choice is 4.9 on TrustPilot and it is going to increase in the near future due to the high response of customers.

This company allows the customers a lot of benefits as they charge nothing (zero fee) for every transaction and playing important role in saving the money of overseas. Due to this trust of customers is developing and they are getting satisfied with its services. For facilitating its customers this company offers the 24/7 live chat and calling option to save its customers from any inconvenience.