Is WorldRemit safe to use in the UK?

Do you need to send money overseas? You might be checking out online money transfer services, as they can be quicker and cheaper than using your bank.

One available option is WorldRemit, the UK-based online international transfer platform. But how safe is it to use?

It’s always important to check out security when using any kind of financial service. Read on to find out everything you need to know about security features and technology with WorldRemit.

We’ll also show you a secure alternative which could save you money on international transfers - the Wise account and card.

Learn more about Wise

Is WorldRemit safe to use in the UK?

If you’re worrying - is WorldRemit a scam? The answer to this is a definite no.

The company is registered with the UK’s Companies House, and is regulated by the Financial Conduct Authority (FCA) as an authorised payment service provider and electronic money issuer.

The FCA has strict regulations covering things like how customer identity information, card details and transaction histories are stored and protected.

WorldRemit launched in 2010, and now has over 1,000 employees. It has around 58 million customers and operates across 130 countries.¹

WorldRemit security features and technology

WorldRemit uses a number of different security measures to protect you and your money when using its transfer service. This includes the following:²

• Protection against unauthorised logins on both the WorldRemit website and app.
• Strict verification processes for new accounts, so that all customers can be fully identified.
• Dedicated teams monitoring accounts and transactions for signs of potentially fraudulent activity.
• A robust privacy policy to protect your security and data as a customer.

Here’s what WorldRemit has to say about its security measures:_ “We are licensed by government regulators around the world, so you can be sure we meet the highest possible security and compliance standards.”³_

Tips to stay safe while using WorldRemit services

It’s good to know that money transfer services like WorldRemit have such high-level security measures in place. But it’s also important to take steps to protect yourself when using online financial services and tools.

You should always aim to be vigilant when using any account, card or financial app.

Here are some tips to stay safe while using WorldRemit:

• Keep your WorldRemit mobile app secure - log out of the app when finished and remember to lock your phone afterwards.
• Protect your passcode and PIN information, and never share login access with anyone.
• Use biometric login to access your account on the WorldRemit app (where available)
• Be on the lookout for potential fraud and scams - especially when making a transfer to someone you’ve never met.
• Update the WorldRemit mobile app when prompted - this will ensure that your app has all of the latest security patches and updates.

Wise - a secure alternative for international payments

Want an account and card for secure, low cost spending worldwide? Check out Wise.

Open a Wise multi-currency account and you can send and receive money worldwide for tiny fees and the mid-market exchange rate. What’s more, you can hold and manage your money across 40+ currencies.

There’s also a Wise card for spending and cash withdrawals in the local currency in 150+ countries. You can use your card with mobile wallets such as Google Pay and Apple Pay too, for effortless and secure payments using just your phone.

If you lose your card, you can lock it with just a tap in the Wise app.

Open a Wise Account Today 🚀

Wise takes security extremely seriously. In addition to being strictly regulated, Wise uses 2-factor authentication for extra-secure transactions, has a dedicated team and is committed to keeping your personal data safe.

Please see Terms of Use for your region or visit Wise Fees & Pricing for the most up to date pricing and fee information.

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So, is WorldRemit safe to use in the UK? Yes, the international money transfer platform is legitimate, regulated and takes security seriously. This means you should be able to send money with confidence.

But just like using any other financial services, it’s always wise to be cautious, do your research and take steps to protect yourself.

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Sources used:

1. WorldRemit - About Us
2. WorldRemit - FAQ - Privacy and security with WorldRemit
3. WorldRemit - Send money

Sources last checked on date: 29-Aug-2023