WorldRemit Exchange Rate: How It Works
The WorldRemit exchange rate is the value of your currency compared with the recipient's currency, and it is shown to you before you pay. Rates change, so WorldRemit does not promise one fixed rate, and this site does not print live rates. The best way to check is the calculator on the website or the transfer screen in the app.
What an exchange rate is
WorldRemit describes an exchange rate as the amount that one currency is worth compared to another. It says these things can push rates higher or lower:
- supply and demand,
- consumer confidence,
- balance of trade,
- inflation,
- national debts.
Where to see it
When you tap Send Money, choose the country and enter the amount, WorldRemit says you see a breakdown of the exchange rate and fees. It says all costs are shown up front with nothing hidden, so you pay what you see. The line that matters most is the amount your recipient gets, because it already includes the rate.
Exchange rate and fee together
WorldRemit's own articles say it makes money from the exchange rate, and its prices show up front as the fee and the rate. A low fee with a weaker rate can cost more than a higher fee with a better rate. Read WorldRemit fees for how to compare fairly.
Set up exchange rate notifications
WorldRemit says you can get notified about rates in the app:
- Tap Account.
- Go to Settings.
- Open Notifications.
- Tap Add next to Exchange Rates.
- Choose the country you want notifications for.
Rates move, so waiting for a better one is a choice, and there is no guarantee it will improve.
Does the rate change after I pay?
The rate is shown before you pay. Check the confirmation screen, and read the terms in the app for anything on rate changes. This site cannot see your live rate.
Does the payment method change the cost?
Your payment method does not change the rate, but card issuers can add their own charges. WorldRemit says some credit card issuers charge a fee, and a card from another country can attract a foreign exchange fee from the issuer. See WorldRemit payment methods.
Before your first transfer
Create and verify your account, see how to create a WorldRemit account and how to use WorldRemit. New customers can use the referral link with REFERNNF57P9SAA1L at sign-up. This is an independent site, not WorldRemit.
FAQ
What is the WorldRemit exchange rate?
The value of your currency compared with your recipient's currency. It is shown before you pay.
Where can I see the rate?
On WorldRemit's calculator on the website and on the transfer screen in the app.
Why does the rate change?
WorldRemit says supply and demand, consumer confidence, balance of trade, inflation and national debts all play a part.
Can I get rate alerts?
Yes. In the app go to Account, Settings, Notifications, then add Exchange Rates and pick a country.
Does WorldRemit make money from the rate?
WorldRemit's own articles say it makes money from the exchange rate, shown up front with the fee.