"Revolut vs. WorldRemit: Which service is right for you?"

Revolut vs. WorldRemit are two money transfer services. They both handle foreign transactions. Yet, they are different in what they offer. Revolut does a lot. It’s not just for sending money overseas, but also for opening accounts in multiple currencies, trading in digital money, and investing. In contrast, WorldRemit focuses on one thing, sending money to different countries. So, in deciding between them, you need to know what you want. If you want a service that does a lot, go for Revolut. But if you just need to send money abroad, WorldRemit would be a better fit.

Contents

Overview: Revolut vs. WorldRemit Revolut vs. WorldRemit: A Detailed Comparison How is Revolut better than WorldRemit?Conclusion FAQs

Overview: Revolut vs. WorldRemit

Revolut launched in 2015 in Britain as a fintech firm, popular for neobanking services like multiple world money accounts and no-charge foreign spending. Since that time, the company added options for things like cryptocurrency and stock trades, insurance, and more. It aims to give users an all-encompassing money management hub.

Meanwhile, WorldRemit, a digital money transfer company, was established in 2010. Its main focus is international money transfers to over 150 countries. It provides various options for payments including bank deposits, cash retrieval, mobile payments, and airtime boosts.

Revolut vs. WorldRemit: A Detailed Comparison

Point of comparison	Revolut	WorldRemit
Scope of Services:	1. Comprehensive financial platform.	1. Specializes in international money transfers and remittances.
	2. Started as a neobank with multi-currency accounts.	2. Operations in over 150 countries.
	3. Expanded to include cryptocurrency trading, stock trading, insurance, and travel services, and budgeting tools.	3. Offers options like bank deposits, cash pickup, mobile money, and airtime top-ups.
	4. A versatile, all-in-one solution for various financial needs.	4. Focuses on providing efficient and secure international money transfer solutions.
Fees and Exchange Rates:	Revolut offers fee-free currency exchange with competitive interbank rates on weekdays, but there may be weekend markups and charges for less common currencies.	WorldRemit provides competitive exchange rates for international transfers, but fees vary based on the transfer amount and destination.
User-Friendliness:	Revolut’s app is versatile, catering to various financial needs, and offering a sleek interface for banking and investments.	WorldRemit’s user-friendly platform is tailored for quick and efficient international money transfers, prioritizing simplicity.
Geographical Reach:	Revolut’s international transfer services are available in over 35 countries.	WorldRemit covers over 150 countries, making it ideal for widespread international remittances.
Recipient Options:	Revolut, while versatile, may not provide as many recipient options outside of its core banking services.	WorldRemit offers diverse recipient options, including bank deposits, cash pickup, mobile wallet deposits, and airtime top-ups.
Customer Support and Trust:	Revolut’s reputation extends to a wide range of financial services beyond remittances, showcasing its innovation and trustworthiness.	Both have generally positive customer reviews, with WorldRemit known for secure money transfers.

How is Revolut better than WorldRemit?

When evaluating Revolut vs. WorldRemit, Revolut may be considered better than WorldRemit for certain purposes and users due to its broader range of services and features.

Diverse Financial Ecosystem: In the Revolut vs. WorldRemit comparison, Revolut offers users a wider range of financial services than WorldRemit thanks to features like multi-currency accounts, cryptocurrency and stock trading, insurance, and more.

Investment Possibilities: When comparing Revolut vs. WorldRemit, users may use Revolut to trade stocks, and ETFs, and invest in cryptocurrencies, making it a good option for investors looking to diversify their portfolios. This function is not provided by WorldRemit.

Global Accessibility: Revolut’s international transfer services are accessible in over 35 countries, making it a viable option for international transactions in many regions, in contrast to WorldRemit’s availability in over 150 countries.

Fee-Free Spending: Revolut offers fee-free international spending up to a set level, which WorldRemit does not offer. This feature allows customers to save money on currency conversion and foreign transaction costs.

User-Friendly App: Revolut is noted for its user-friendly mobile app in the Revolut vs. WorldRemit comparison, delivering a fluid and intuitive interface for managing money, investments, and international transactions, improving the overall user experience in contrast to WorldRemit.

Conclusion

In the comparison of Revolut vs. WorldRemit, it’s clear that these two financial service providers offer distinct advantages based on your specific needs. Revolut is a superb choice for people looking for a one-stop shop to manage their finances, investments, and travel expenses because it excels as a comprehensive digital banking platform and offers a wide range of financial tools and services beyond international money transfers. WorldRemit focuses on offering quick and affordable solutions for sending money across borders and is particularly appealing to people who value convenience and security when sending money abroad. For more information on Revolut vs. WorldRemit, visit NowandLive.

FAQs

Which bank accepts Revolut?

Users of Revolut can link their accounts with several other banks, including Barclays, Bank of Scotland, Danske Bank, First Direct, Halifax, HSBC, Lloyds, Monzo, M&S Bank, Nationwide, NatWest, Royal Bank of Scotland, Santander, Starling, TSB, and Ulster Bank. This feature improves the flexibility and convenience of managing customers’ finances across numerous accounts by enabling smooth fund transfers between their Revolut account and their accounts with these traditional institutions.

How long does Revolut take to transfer money?

Revolut’s money transfer speed is based on a number of variables. Internal transfers inside Revolut take place in real-time and are often instantaneous. The duration of external transfers, on the other hand, can differ depending on the receiver’s bank and location, as well as if the recipient has a traditional bank account or is located outside of the Revolut ecosystem. Revolut offers a variety of transfer methods, some of which might speed up the process at a cost. In general, transfers may take one to three business days to reach their destination.

Is it safe to send money through Revolut?

Revolut is typically regarded as a safe platform for money transfers. End-to-end encryption, two-factor authentication, and compliance with regulatory standards for financial institutions are just a few of the strong security methods it uses. However, just like any financial service, there are always risks involved with online transactions, so it’s critical for customers to adhere to best practices, including protecting their login information and turning on security features to increase the security of their money transfers.