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Ria Money Transfer®1 and WorldRemit®2 are both trusted and established international money transfer services which allow you to send payments abroad from the UK. Both providers offer options to set up your international transfer online or with your phone - which can be very convenient. And both offer a selection of ways to pay and have your money deposited, too.
Struggling to pick between Ria Money Transfer vs WorldRemit for your next international payment? Read on. We’ll walk through similarities and differences, features and fees - and also introduce Wise as an alternative. With Wise you can send money digitally to 160+ countries with low fees3 and the mid-market rate. More on that later.
Ria Money Transfer is an established international transfer provider that has been in business for over 35 years, and which lets UK customers send payments to 165+ countries around the world.
Ria lets you set up payments online or in-app - and also has an extensive branch network so you can walk into an office and arrange your payment face to face if you’d like to. Pay out options are also quite varied - your recipient can collect their money from one of 500,000 agents globally, or you may choose to have it deposited to their bank or mobile wallet account instead.
WorldRemit is another established, licenced and reputable international transfer service, which allows Uk customers to send digital payments to 130+ countries.
With WorldRemit you’ll set up your transfer online or in an app, and can choose to have your payment collected in cash, deposited to a bank or mobile wallet account, or delivered as an airtime top up.
Ria Money Transfer and WorldRemit are both focussed on international transfers for personal customers, on popular remittance routes.
They don’t work in exactly the same way, and they don’t have the exact same suite of services available - but there some similarities, including:
- Ria Money Transfer and WorldRemit are both FCA regulated in the UK
- Both Ria Money Transfer and WorldRemit offer transfers you set up online or in-app
- Both Ria Money Transfer and WorldRemit have a strong selection of pay in and pay out options
- Ria Money Transfer and WorldRemit both service UK based personal customers
- You can not use either Ria Money Transfer4 or WorldRemit5 to send a payment to a business or for goods and services
Beyond this, both Ria Money Transfer and WorldRemit have their own unique features and benefits. Let’s look at these individually:
Ria Money Transfer Benefits
- Set up your payment in person at a UK agent, as well as options for online and in-app
- Payout options include bank and mobile wallet deposit and cash collection at 500,000+ agents
- Send to 160+ countries
- Send no more than 4,999 GBP online per month, higher transfers may be arranged in person at an agent in some cases6
- Payout options include bank and mobile wallet deposit, cash collection and air time top up
- Send to 130+ countries from the UK
- Send up to 50,000 GBP in any 24 hour period7
Ria Money Transfer and WorldRemit both offer a good range of international payments with a variety of ways to pay, and a variety of ways for your recipient to get their money.
Fees and exchange rates do vary for both providers, based on how you set up your transfer and where the money is going to. The way you pay and the pay out method you select will also make a difference. We’ll look at the fees you’ll likely pay in a worked example in just a moment.
Both providers are aimed at customers sending money to friends and family - business payments aren’t supported and the transfer limits are relatively low, too.
If you need to send a business payment in a foreign currency - or if you’re sending a high value transfer - you’ll need a different option. Take a look at Wise, for convenient and cheap international money transfer services to individuals and businesses in 160+ countries.
More on how to transfer money overseas with Wise coming up later.
One important point when you’re comparing different international transfer services is to check both the fees and the exchange rates offered. That’s because it’s common for providers to add a fee into the exchange rate used to convert your pounds to the currency needed for depositing - which can be hard to spot.
Exchange rate fees - usually called markups - push up the overall costs of sending money abroad. Finding a service which uses the mid-market rate with no markup - or as close as possible to the mid-market rate - is usually a good way to get the best available deal.
The fees for both Ria Money Transfer vs WorldRemit international transfers can vary a lot based on the details of your payment. To get a quote from Ria you’ll need to first register an account, and then either log in online or in the Ria app.
With WorldRemit you can model your payment online without an account, to check the rate and fees for your specific payment.
As the costs of sending money abroad can include several different fees, and can be a bit complicated to follow, the easiest way to compare services is to look at how much a recipient would get in the end with payments processed by different providers. To illustrate, let's take an example comparing WorldRemit and Wise, and imagining we are sending 1,000 GBP to a friend in India:
|Sending 1,000 GBP to India with:
|1 GBP = 100.597 INR
|1 GBP = 99.5055 INR
*Details correct at time of research 4th October 2023
As you can see in this example, the recipient gets more with Wise. That’s even though WorldRemit adds a fee onto the 1,000 GBP you’re sending, making the overall cost to you higher.
This works because Wise offers a better exchange rate compared to WorldRemit for this particular transfer. Checking both fees and rates is essential to make sure you’re comparing costs fairly, and getting the best deal for your specific transfer.
Both Ria and WorldRemit offer transfers you can set up in an app. That’s often the most convenient option as long as the app is easy to use and reliable.
Checking user reviews is a solid way to see if the apps from different payment providers are going to be intuitive and quick to use. Here’s how Ria Money transfer and WorldRemit measure up on app ratings:
|Ria Money Transfer
|4.9 out of 5 stars, from 83k+ reviews8
|4.7 out of 5 stars, from 75k reviews9
|4.8 out of 5 stars, from 174k reviews10
|4.6 out of 5 stars, from 187k reviews11
- Details correct as of 4th October 2023
As you can see, customers love both apps - and although Ria Money transfer does edge ahead on both, WorldRemit has more reviews posted overall.
Both apps are fine to use, with regular updates and teams working on improving security behind the scenes all the time. That means that the best app for you will just come down to your personal preferences.
We touched on Wise earlier, as a good option if you need to send a payment to a business overseas, or if you’re sending a high value payment. Wise can also be a smart choice if you simply want to compare the overall costs and exchange rates available from Ria Money Transfer and WorldRemit to see which works best for you.
Like Ria Money Transfer and WorldRemit, Wise transfers can be arranged in the Wise app or online. You can send money to individuals and businesses in 160+ countries - and your transfer could even arrive instantly12.
Where Wise really stands out is that you’ll get the mid-market exchange rate to convert your pounds to the currency you need, with low transparent fees from 0.43%3. That can keep the costs down, and also makes it far easier to see exactly what you’re paying for the services you need.
Here’s a step by step guide to sending money with Wise:
- Download the Wise app for free
- Register an account by entering your personal and contact information
- Get verified by uploading a photo of your ID documents
- Model the payment you want to make to get a fee and rate quote
- Choose how you want to pay (bank transfer or card for example)
- Check everything over and confirm - you’ll be prompted to pay using your chosen payment method
Looking for more?
Open your Wise account online or in the Wise app and you can also hold and exchange 40+ currencies all in one place. You’ll be able to order a Wise debit card to spend and make withdrawals in 150+ countries, and receive payments to your Wise account from abroad with local bank details for up to 9 currencies.
Bear in mind that Wise isn’t a bank, it’s an e-money institution. Like Ria Money Transfer and WorldRemit it’s regulated in the UK by the FCA.
If you’re stuck trying to decide which transfer service to use for your next overseas payment, this Ria Money Transfer vs WorldRemit review can help. Ultimately, the right one for you might just come down to your personal preference and the specific transfer you need to make.
Compare them both for your particular payment - and take a look also at other, non-bank, alternatives, like Wise, which lets you send money overseas with the mid-market exchange rate and low, transparent fees from 0.43%3.
- Ria Money Transfer
- Ria Money Transfer terms and conditions
- WorldRemit terms and conditions
- Ria Money transfer limits
- WorldRemit limits
- Ria Money Transfer App store
- Ria Money Transfer Google Play
- WorldRemit App store
- WorldRemit Google Play
- Speed: The speed of transaction claim depends on funds availability, approval by Wise's proprietary verification system and systems availability of our partners' banking system, and may not be available for all transactions
Sources last checked: 4th October 2023
This publication is provided for general information purposes and does not constitute legal, tax or other professional advice from Wise Payments Limited or its subsidiaries and its affiliates, and it is not intended as a substitute for obtaining advice from a financial advisor or any other professional.
We make no representations, warranties or guarantees, whether expressed or implied, that the content in the publication is accurate, complete or up to date.
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