transferwise-review

the most honest and independent Transferwise review ever – the ultimate Transferwise review

There are so many reviews about money transfer services that are actually kind of fake review. Even the honest money transfer operators request a review only from users who have already rated the company at more than 9 out of 10.

Here I’m going to provide my honest review. I’m completely independent and I get no money for writing my thoughts. I get nothing actually. I just have the hope that some people are going to find the review useful. First thing to talk about is how is the service today: end 2016, beginning 2017. Second important thing is how is it going to evolve, according to the market experience I have.

 

How is Transferwise today? Here is my Transferwise review

I have been using Transferwise over the last 4 years. The company has been created in 2010 and since 2011 I’m living abroad. That’s why I had to use Transferwise. No actually I chose to choose Transferwise because their service had a good reputation among the fintech industry. It was user-friendly and with an excellent spirit against banks. So good spirit, good rates and quite slow transfers.

 

transferwise-review

 

5 years experience in the money transfer market industry, here is my independent review about Transferwise

Now Transferwise has got almost 5% of the money transfer market. However they cooperate with banks. It’s really different from the original reasons why I joined the service. The ultimate Transferwise review is about telling the truth too. The truth is the fact that Transferwise has never been as fast as today but it has never been as expensive as today too. Their rates tend to increase and it’s bad for the users. It’s still very convenient to use the service and the rates are still quite cheap so there is no reason to stop using them. There are reasons to start comparing them with other money transfer services though.

In the past and in the present, Transferwise is against banks, it’s cheap and the spirit is nice. In the future Transferwise starts to be more expensive but also much faster. And their team starts to cooperate with banks. Good news is it’s still advantageous to use this solution compared to banks. Still, it’s efficient to compare Transferwise review with other reviews.

worldremit_review

Is WorldRemit the most convenient money transfer operator?

WordlRemit has been created in 2010 by a Ismael Ahmed from Somalia. When studying at the university in London he realised that there was an opportunity to decrease the costs of international money transfers and to improve the experience of sending money abroad. It turns out that WorldRemit is often the cheapest solution for amounts below €1,000. In 2015, 3.5 million transactions were made using the platform representing over $1 billion.

 

worldremit_review

 

Currently, WorldRemit operated from 50 countries and delivers money to more than 120 countries around the globe. Money can be delivered to bank accounts, mobile wallets and by cash if needed.

Like most of the new actors on the market, WorldRemit operates exclusively online, this means that you do not have to go to an agent location to make a transfer. They’ve also developed an app that is very user friendly.

 

One of the most interesting feature from WorldRemit is the possibility to send money to mobile wallets. This enable users to store, send and receive money with their mobile phone. This is particularly interesting for migrants or people who do not have a bank account in developing countries. According to WorldRemit, a third of their transactions are received on mobile phones and the company claims to be the leader of remittances sent to mobile wallets.

 

Sending money with WorldRemit is quite easy:

  1. Select the country you want to send money to and it will determine your options to receive the money.
  2. Enter the amount you are willing to send and the payout method.
  3. Pay. You can use debit/credit card, make a bank transfer (only if you are in the UK) or use a banking payment service.
  4. Your money is being sent and the delay to receive it will depend on the payout option you’ve chosen.

 

Like for many online money transfer operators, the fees you’ll be paying vary according to the payout option you’ve selected. However, you can be reassured that the global fees will be much lower than if you had used your bank to make your transfer.