Africa-Press – Rwanda. If you have ever received money from a friend or relative living abroad or if you live and work in the diaspora and need to send money back home to Rwanda, it is likely that you are familiar with several digital money transfer services.
The pandemic has proved a significant growth catalyst for the digitization of remittance services. As such, many of the major international remittance players have posted significant increases in the use of digital solutions. As more online money transfer services go to market, it is important that consumers know how to choose a service that fits their needs.
Knowing the difference between a good online money transfer service and a great one is important regardless of whether you are sending money or receiving it.
As part of our coverage on the financial and technology sector, we are focusing on WorldRemit – a leading global payments company that is headquartered in London and that has a strong and growing presence in more than 130 countries globally.
Sending money
The service allows you to easily and quickly send from more than 50 countries to recipients in 130 countries around the world via the WorldRemit app or website, which is available on Android and iOS.
Countries that have large Rwandan diaspora populations are covered – the U.S., Canada, U.K., France, Germany and other European countries, as well as countries in Australia, Asia and the Americas. You can get the full list of countries .
Registering for a WorldRemit account is simple and easy. Because your WorldRemit account is linked to your bank, card or mobile wallet, you can simply send money with just a few taps on your mobile device or laptop. Within minutes your transaction will be processed, with all fees clearly labeled upfront.
Unlike traditional money transfer services that require you to travel to a physical location and speak to an agent in-person to send money abroad, WorldRemit is 100% digital (cashless), thereby enhancing convenience and security. The absence of physical agents also reduces WorldRemit’s cost of remittances, allowing it to pass on the cost savings to users through affordable fees.
Receiving money
For those receiving money in Rwanda, WorldRemit offers a wide range of options, including cash pick-up and mobile money. More options mean greater convenience. Conversely, for those who want to collect their transactions in hard currency, you are able to at a safe location. You may even want to receive money – especially if it is small amounts – as airtime; this may prove useful for people like students or those that work online and need data bundles.
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