Which scores better when comparing CurrencyFair vs WorldRemit? See how each provider scores and who wins when comparing their services, fees, supported countries and customer service.
CurrencyFair
Overall score:
67
67
WorldRemit
Overall score:
63
63
Personal Features
Business Benefits
Fees & Exchange Rates
Ease of Use
Support & Countries
Trust & Transparency
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38
CurrencyFair for individual customers offers a range of services beyond just international money transfer. CurrencyFair adds to their service offering for individuals on a regular basis. Currently they offer only online international money transfer features.
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67
WorldRemit is tailored for individuals with account services that include:
Note: bill payments and cash pick-up services are not available in all countries.
WorldRemit has two unique features. These are:
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44
Along with features for personal accounts, Currencyfair offers business customer benefits although there are gaps to their offering. iCompareFX keeps in close contact with CurrencyFair management and Currencyfair’s scoring will be adjusted as new benefits are released.
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0
WorldRemit does not provide a business service, although WorldRemit could be used for business transfers. The Mobile Wallet could be used for business, however it may not be suited for this purpose.
50
50
Exchange rate margin fee - Between 0.25% and 0.45% on top of the real exchange rate.
Transfer fee - Transferring out of CurrencyFair can cost €3 (currency equivalent).
International intermediary bank fees - Some currencies supported by CurrencyFair have the receiving account (the one you send your payment to), not in the home country of the currency. E.g. ZAR is located in London. This means that transferring ZAR to USD through CurrencyFair can attract an additional charge for the banks to send ZAR internationally. This can be up to US$20 currency equivalent. Currencies without local bank transfer payment support:
AED, CAD, HUF, NZD, USD, ZAR
Express deposit fee - In some countries, if you choose an express deposit or payment to CurrencyFair, it can be with an additional fee.
CurrencyFair free transfer offers - Yes! There are CurrencyFair coupons with up to 10 transfer fees free.
No. CurrencyFair exchange rate margin fees are non-negotiable with larger transfer sums.
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46
Most of the WorldRemit fees are within the exchange rate offered. The exchange rate offered can and does change depending on payment type, receiving option and the amount being transferred.
New customers from eligible countries signing up through iCompareFX receive 3 transfers fees for free using the code 3FREE. Eligible countries for this free transfer promotion are the USA, UK, Australia, Belgium, Netherlands, South Africa, Sweden, New Zealand, and Norway.
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83
CurrencyFair’s focus on customer service and user experience is of very high standards. Customer onboarding and service process management are clearly well thought out and wrapped in great design.
Account registration - Fast and easy to follow wizard.
ID verification - ID checks can be completed within 24 hours. Sometimes instantaneously with some countries. Proof of ID can be uploaded directly within the CurrencyFair app. Use your phone to take photos of ID and upload with ease.
Transfer speed - 1 - 2 business days upon receipt of payment.
Payment options - There are local bank transfer, local country payment solutions (e.g. BPay), debit card and express deposits available in some countries.
CurrencyFair mobile app - A very well designed Android and Apple mobile app. Very easy to use. New features are added regularly.
Minimum transfer amount - €8 equivalent.
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86
Registration - Simple and easy through their website or mobile app.
ID verification - If requested, it is a simple process that can be actioned through their mobile app or via email. Simply upload the requested documentation as photos from your phone.
Transfer speed - Speed ranges from instantaneous to up to 2 days. This depends on the country you are sending money to, and if it is a bank transfer or sending cash.
Payment options - Uploading your funds to WordRemit is also a simple process. With in-country solutions such as Australia’s POLi or via debit card, you can instantly transfer your funds to WorldRemit. This speeds up the entire process of sending money overseas.
Mobile app - There is a WorldRemit mobile app to help manage your transfers end to end.
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56
Supported destination currencies - 21 currencies. AED, AUD, CAD, CHF, CZK, DKK, EUR, GBP, HKD, HUF, ILS, INR, NOK, NZD, PHP, PLN, SEK, SGD, THB, USD, ZAR.
International presence - CurrencyFair local offices can be found in Ireland, UK, Singapore, Hong Kong and Australia.
Customer support - CurrencyFair’s customer support is very good. Local offices in Ireland and Australia provide 24/5 support.
Foreign language support - CurrencyFair’s website is available in English, French and German.
USA support - No support for US residents.
Local settlement accounts - Not all currencies support local bank transfer payments to CurrencyFair. This can mean higher fees by intermediary banks. (Read more in the CurrencyFair fees section).
CurrencyFair payment bank accounts - These have changed with some frequency. This can cause customer confusion and time while funds are paid to the wrong banks.
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88
WorldRemit has an impressive list of supported countries.
There are reports on TrustPilot and through its mobile app reviews of poor wait times to talk to a customer service representative.
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69
Regulated by - CurrencyFair is regulated by ASIC Australia and the Central Bank of Ireland.
TrustPilot - A rating of Excellent by TrustPilot. CurrencyFair monitors TrustPilot for negative reviews. They respond publicly and work diligently to correct legitimate customer complaints.
iCompareFX visitors - Customers referred by iCompareFX make thousands of transactions with CurrencyFair yearly.
CurrencyFair has low and very competitive exchange rate margin fees. There is no need to not be completely transparent. iCompareFX believes that showing the real time exchange rate and the margin fee clearly within their money transfer wizard would result in a more positive customer experience.
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56
WinnerIt doesn't get much closer than this but Currency Fair just gets the win. WorldRemit's loss is mostly due to it not offering business services. It does however take control of the Personal Features and Support and Countries categories. The remaining sections across fees and ease of use are closely aligned.
