Remittance companies are financial service providers that allow individuals to send money to other individuals or businesses in other countries. These companies typically offer lower fees and better exchange rates than traditional banks for international money transfers. Some popular remittance companies include:
- Western Union: one of the oldest and most well-known companies in the industry, they offer a wide range of services, including online and in-person money transfers.
- MoneyGram: another well-established company that offers both online and in-person money transfers, as well as bill payment services.
- PayPal: an online payment platform that allows users to send money to other PayPal users around the world.
- TransferWise: a digital money transfer platform, that allows individuals to transfer money between countries at a lower cost than traditional banks.
- WorldRemit: digital money transfer platform, that allows individuals to transfer money from over 50 countries with a fair exchange rate and low fees.
These companies often have their own apps and websites, where you can create an account and send money easily.
It’s important to note that, before sending money through a remittance company, you should check the fees, exchange rates, delivery times, and any other terms and conditions, to ensure that it’s the best option for you.
RemitM is registered with the Information Commissioner’s Office (ICO), the UK’s independent authority set up to uphold information rights in the public interest.
All clients’ funds are held in a dedicated client account separate from RemitM’s funds, in line with our regulatory framework and consistent with good practice.
We earn no interest from holding client funds, as your payments and transfers are not held by us and are remitted to recipients upon receipt.
Your data is transmitted in a secure way and all password data is encrypted.