Small World Review

Small World Review Summary

Small World offers financial services for a wide range of businesses if you're a business owner or want to transfer funds internationally. You don't need to have a large amount of assets to make a transaction with this company, and its services are available in many locations around the world. You can also get assistance with investments with the help of a foreign financial institution. Small World offers a variety of ways for you to send money overseas. The company allows you to send money to many countries with fixed fees. You can send money through their bank deposit and home delivery services, or use their mobile wallet and top-up. The company's service has garnered positive reviews from users, and their customer base is growing rapidly.

Small World review
Small World Features

Small World Year Established

2005

Small World International Clients

Small World accepts international clients.

Small World Age requirement

18 years

Small World Currencies Offered

54 online

Small World Minimum Transfer

US$1.00

Small World Transfer Fees

1%-2%

Small World Office Locations

Headquarters in US, with subsidiary offices and certified agents literally across the globe.

Small World Employees

800

Small World Turnover

268,000,000 USD

Small World Regulation

Financial Conduct Authority (FCA)

Small World Fees

Small World transfer fees are 1%-2%.

Fees with Small World may vary per transfer, depending on method of sending, currencies and amount. Based on World Bank statistics, the fixed fee can be as high as 19 Pounds for 120 Pound transfer to Ethiopia (source).

Additionally to the fixed fees taken by Small World, the World Bank Statistics reveal that an additional markup of between 1 and 4 per cent is incurred.

Small World Client Rating

Small World has a rating of 3.

Number of Small World customers

15000000

Small World Website

https://moneyaccounts.com/vs/torfx-vs-rabobank/

Small World Supported Languages

English, Spanish, German, French, Italian, Dutch, Portuguese

Month Savings
January $100
February $80

Small World Review

Small World review
Pros and Cons of Transferring Money with Small World

Most of the time money transfers with Small World will be smooth. Each money transfer service have their own benefits and isses, so always weigh the pros and cons of sending money with Small World money prior to submitting an application to Small World.

Can you easily afford the Small World fees, are the exchange rate costs reasonable with Small World?

Small World review
Small World Advantages

  • Small World has been in business over 4 years
  • Small World is availble in many international countries.
  • Small World offers a wide range of money transfer currency options.
  • Small World offers phone support.
  • Small World offers email support.
  • Small World offers an Apple iOS mobile application.
  • Small World offers an Android Google Play Store mobile app.

Small World review
Small World Disadvantages

  • Small World does not offer PayPal as a payment method
  • Small World does not offer Neteller as a payment method
  • Small World does not offer Skrill as a payment method
  • Small World does not offer a mobile wallet.
  • Small World does not offer Home delivery for money transfers.
  • Small World does not offer Cash pickups for money transfers.
  • Small World does not offer Money orders.
  • Small World does not offer Livechat support.

What Is Small World?

Small World is a financial service company, that offers its clients money transfer services.

Small World was founded in 2005 by John Vergel de Dios and has offices in London (GB).

Small World provides money transfer services to its 15000000 customers who are from all over the world including EU/EEA, UK, US, Brazil.

The London (GB) Small World business was founded in 2005 to deliver money orders locally and internationally.

Do Small World Offer Money Transfer?

Money transfer businesses, or other financial corporations use EFT (electronic funds transfer) to send money across distances, large or small. That is to say that it is not actual money being sent, it is rather data that represents the amount being sent that the recipient can withdraw whenever they wish.

Is Small World Trusted And Established?

Small World is among the most recognized and reputable money transfer platforms. It has an exceptional track record and offers reasonable rates.

Small World was established in 2005 in London (GB), and has been in operation for around 19 years Small World have a head office in London (GB).

Small World review
How much does it cost to send a Small World Transfer?

Small World money transfer exchange rates are quite minimal compared to banks and other money transfer providers. A minimal percentage is charged on top of the exchange rate as standard practice. Small World only charges 1%-2%, when compared to other money transfer service providers.

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How much can I send with Small World?

The maximum transfer amount with Small World is up to Varies (US$2,000.00 for card transfers) (or its currency equivalent) online.

While Small World charges a small percent of transfer fees, the brand offers reasonable exchange rates.

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Small World Money Transfer Terms and Conditions

When transferring money with Small World, it is crucial to keep tabs on the following:

  1. Small World Speediness. Often the need to money transfer may be urgent and time critical.
  2. Small World Reliability and reputation. The safety of money and personal information can be a concern for those wanting to use international money transfer services to send money.
  3. Small World Transaction charges. Transaction charges are important as the majority of customers wish to send money overseas without having to worry about paying excessive charges.
  4. Small World Ease of use, and convenience. Your money transfer platform should be flexible and offer a good range of options and features, making it more convenient for customers to send money overseas.
  5. Small World Customer service. Because one can often run into problems when transferring money. A money transfer platform with excellent customer service could solve a lot of problems. Small World customer service should respond to your queries quickly and work with you to resolve any issues that you have.

Small World review
How Small World Compares To Other Money Transfer Companies

NameSmall WorldXE Money TransferWise Multi-Currency Account
Usedby1500000028000000011000000
Transfer Time1-3 business days1-4 business days1-2 business days
Min TransferUS$1.00US$1.001 USD
Max TransferVaries (US$2,000.00 for card transfers)US$500,000.00 (or equivalent)1000000 USD/transaction/day (personal), 3000000 USD/transaction/day (business)
Payment MethodsBank transfer, credit/debit cardBank transfer, credit card, debit cardBank transfer, debit card, credit card, SOFORT transfer
iOS Appyesyesyes
Android Appyesyesyes

Small World review
Small World Risk Warning

Any taxes or charges are payable in the destination country. costs may exist that are not paid through Small World or imposed by Small World. Your Small World money transfer transaction may be cancelled if it is demmed to be connected with prohibited activities including all applicable laws regarding anti money laundering or counter terrorism financing laws. or the transaction is actioned through unauthorised use of your Small World account.

Small World review
Small World Fees & Exchange Rates

Several money transfer platforms like Small World charge money for every money transfer a customer makes through their platforms. Other than that, every time an individual exchanges money from one particular currency to another, the money transfer operator in this case Small World may charge for a currency exchange.

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Small World Transfer Fees

A transfer fee is the sum of money that a money transfer operator like Small World charges a customer for transferring money to a recipient. The amount charged depends on the operator charging it.

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Small World Exchange Rate Margins

Exchange rate margins are how Small World, banks and other financial corporations make profit off their services instead of charging customers with commission fees.

When a bank or a money transfer service like Small World quotes an exchange rate to a customer, they usually take the interbank rate and add an amount known as a margin rate. Check with Small World to see what their exchange rate margin is.

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Small World Methods to Transfer Funds

A Small World fund transfer is when someone sends money from their account to another person's account. Money can be transferred using different methods, e.g. online, via the phone, or a mobile app.

The methods to transfer funds are:

  • Manual EFT
  • Automatic EFT
  • Bill payment
  • Correction

Small World enables users to transfer money using bank transfer, via none.

Small World review
Small World Currencies Supported

Money transfer operators that offer more currency options are beneficial because they make for reduced conversion fees. This way customers do not have to pay exorbitant conversion fees when transferring money.

Small World offers every available world currency to its customers. We list the major Small World supported currencies below.

Small World Money Transfer Currencies
NameCurrencies
AED, AUD, BGN, BRL, CAD, CHF, CZK, DKK, EUR, GBP, HKD, HRK, HUF, IDR, INR, JPY, MYR, NOK, NZD, PLN, RON, TRY, SEK, SGD, USD, ARS, BDT, BWP, CLP, CNY, COP, CRC, EGP, GEL, GHS, ILS, KES, KRW, LKR, MAD, MXN, NGN, NPR, PHP, PKR, RUB, THB, UAH, UGX, UYU, VND, XOF, ZAR, ZMW
AED, BDT, BHD, BTN, HKD, IDR, ILS, INR, JOD, JPY, KWD, LKR, MYR, NPR, OMR, PHP, PKR, QAR, RUB, SGD, THB, TRY, TWD, VND, BAM, BGN, CHF, CZK, DKK, EUR, GBP, HRK, HUF, NOK, PLN, RON, RSD, SEK, BBD, CAD, CRC, DOP, GTQ, HNL, JMD, MXN, TTD, USD, XCD, AUD, FJD, NZD, TOP, WST, ETB, GHS, GMD, GNF, KES, MAD, MUR, MZN, RWF, SLL, TND, TZS, UGX, ZAR, ARS, BOB, CLP, COP, GYD, PEN, PYG, UYU
AED, ARS, AUD, BDT, BGN, BWP, CAD, CHF, CLP, CNY, CRC, CZK, DKK, EGP, EUR, GBP, GEL, GHS, HKD, HRK, HUF, IDR, ILS, INR, JPY, KES, KRW, LKR, MAD, MXN, MYR, NGN, NOK, NPR, NZD, PEN, PHP, PKR, PLN, RON, RUB, SEK, SGD, THB, TRY, TZS, UAH, UGX, USD, UYU, VND, XOF, ZAR, ZMW
ALL, ARS, EUR, BSD, BDT, XOF, BOB, BRL, BGN, BIF, USD, XAF, CLP, CNY, COP, KMF, CRC, HRK, CZK, DOP, EGP, ETB, FJD, GMD, GHS, GTQ, GNF, GYD, HNL, HUF, INR, IDR, JMD, JPY, JOD, KES, MGA, MWK, MYR, MXN, MAD, NPR, NGN, PKR, PYG, PEN, PHP, PLN, RON, RUB, RWF, SLL, ZAR, KRW, LKR, TSZ, THB, TND, TRY, UGX, UYU, VND, ZMW
AED, AUD, BGN, BRL, CAD, CHF, CZK, DKK, EUR, GBP, HKD, HRK, HUF, IDR, INR, JPY, MYR, NOK, NZD, PLN, RON, TRY, SEK, SGD, USD, ARS, BDT, BWP, CLP, CNY, COP, CRC, EGP, GEL, GHS, ILS, KES, KRW, LKR, MAD, MXN, NGN, NPR, PHP, PKR, RUB, THB, UAH, UGX, UYU, VND, XOF, ZAR, ZMW
AED, EUR, PLN, AUD, GBP, SEK, CAD, HKD, SGD, CHF, HUF, USD, CZK, NOK, ZAR, DKK, NZD
AED, ARS, AUD, BDT, BGN, BRL, BWP, CAD, CHF, CLP, CNY, COP, CRC, CZK, DKK, EGP, EUR, FJD, GBP, GEL, GHS, HKD, HRK, HUF, IDR, ILS, INR, JPY, KES, KRW, LKR, MAD, MXN, MYR, NGN, NOK, NPR, NZD, PHP, PKR, PLN, RON, RUB, SEK, SGD, THB, TRY, TZS, UAH, UGX, UYU, VND, XOF, ZAR, ZMW
AUS, SGD, HKD, INR, MYR, EUR, GBP, USD, CAD, JPY, NZD
USD, AUD, CHF, EUR, HKD, JPY, BBD, BMD, BSD, DKK, GYD, INR, JMD, KYD, MXN, NOK, NZD, SAR, SEK, SGD, TTD, ZAR, GBP
AUD, BGN, CAD, HRK, CZK, DKK, EUR, HKD, HUF, INR, ILS, JPY, JOD, MYR, MAD, NZD, NOK, OMR, PLN, GBP, QAR, RON, SAR, RSD, SGD, ZAR, KRW, SEK, CHF, THB, TRY, AED, USD
AED, AUD, BND, CAD, CHF, CZK, DKK, EUR, FJD, HKD, HUF, IDR, ILS, INR, IRR, JPY, KRW, KWD, LKR, MAD, MXN, MYR, NGN, NZD, OMR, PEN, PGK, PHP, PKR, PLN, SAR, SCR, SDG, SEK, SGD, THB, TOP, TRY, TWD, USD, VND, VUV, WST, XOF, XPF, ZAR
EUR, GBP, USD, CAD

Small World review
Small World Transfer Options

Small World offers the following transfer options:

Small World Money Transfer Options Compared
NameTransfer Options
Bank desposit, cash pick-up, airtime top-up, mobile wallet, cash home delivery, prepaid card top-up
Bank deposit
Bank deposit, mobile wallet deposit
Bank deposit, cash pick-up, home delivery, mobile wallet deposit.
Bank deposit, mobile wallet deposit
Bank deposit, mobile wallet deposit
Bank deposit, mobile wallet deposit
Bank deposit, cash pick-up (Philippines)
bank deposit, cheque, wire transfer, debit card, credit card
Bank deposit, cash pick-up, VISA & MasterCard, ATMs, mobile wallet deposit (depending on country)
Bank deposit
Bank deposit, cash pick-up , door-to-door delivery

Single Payments

’Single payments’ is a term used to recognize a one-time money amount from an allowance. For a single payment, the user may use a single credit card (or debit card) and have a single invoice.

Regular Payments

A regular payment is a highly economical and easy way to transfer money with Small World. It is best suited for customers who have to transfer regular smaller amounts (usually three, four, or smaller five-digit amounts).

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Who Small World Services Are Available To

Small World offers services for sixty different currencies across more than one-seventy countries.

The more global a money transfer operator becomes, the more reliable it is for people across the globe.

Small World Country Restrictions

Small World does not operate in the following countries :

  • Iran
  • Libya
  • North Korea
  • South Sudan
  • Sudan
  • Syria

Certain countries are restricted because Small World is not allowed to legally operate in those regions or it is not economically viable for Small World to provide money services in these regions.

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Small World International Money Transfers

An International Transfer is when someone sends money from their account in one country to a bank account in another country.

Setting up your Small World money transfer is quick and simple with the modern Small World online platform.

Transferring money internationally used to be a tedious process 10 years ago but advances in software and the internet have made transferring money allot easier.

These days, you can send a money transfer with ease on the Small World website.

The Small World website includes useful and easy-to-access option for those who wish to track their money and monitor when it can be received, providing a safe and accessible option if you'd like to keep an eye on your transfer.

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Small World Minimum Money Transfer

Several money transfer companies do not have a minimum money transfer amount. Making it easy for their users to send small amounts of money. Small World has a minimum transfer amount of US$1.00.

Small World review
Small World Maximum Money Transfer

Money transfer companies often do not have maximum transfer limits. For example, Small World does not have a maximum transfer limit when the user is paying through phone. There is however, a Varies (US$2,000.00 for card transfers) limit per transaction for online transfers.

Small World review
Small World Money Transfer Fees and Charges

These are the fees charged by Small World and other money transfer companies (or other financial corporations) for transferring money. Several companies however, do not charge their users for transferring money. The only charges there are to pay are currency conversion charges.

Small World review
How Long Does It Take to Get a Small World Money Transfer

Small World money transfers do not usually take very long. It normally takes less than 24 hours for a money transfer to complete between two accounts with the same financial corporation. While in the case of money transfers with money transfer services like Small World, it can take a little as a few minutes. If the money is being sent overseas, it can take up to five days for the recipient to receive the money from Small World.

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Small World PLC Status

If a company has the acronym PLC at the end of its name, it means that the business offers its shares to the public and is traded on a public stock exchange. This alone makes the company more reputable. Small World is not a publically listed company. Small World is a privately owned company.

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Small World Money Orders

The charges for issuing money orders with Small World are 1%-2%.

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Small World Mobile Top Up

Small World offers mobile top ups.Small World mobile top ups are where a user can add credit to a recipient’s mobile phone number. The recipients number has to be local. These are normally processed within minutes, if not seconds.

Small World COVID-19 Help

Some money transfer companies offer COVID-19 financial assistance. This may be in many forms including payment holidays, reduced interest rates and more options to pay. Check with Small World directly to see what they are able to offer if you are adversely affected by COVID-19.

Who are Small World Money Transfers Best For

There may be many reasons you are looking to action a money transfer with Small World. These reasons can include debt consolidation, medical bills, student debt, collection agency debt, wedding costs, holidays, home repairs and repaying friends and family.

Small World money transfers are best for people looking for looking for a reliable fast money transfer service.

Small World Guide for Fast Money Transfer Approval

For Small World to be able to process your money transfer application as quickly as possible make sure you have everything Small World need. If you and Small World need to go back and forth it may delay the Small World application process. Make sure every piece of information you give Small World is accurate.

Please note that you must have at least a minimum of one active bank account for Small World to process your money transfer.

Small World Application Time

Application time refers to the amount of time you have to wait for your Small World registration to be approved. This should not take long, especially if you have nothing which should come up as red flag on the Small World system.

Small World Approval Time

It is the time it takes for Small World money transfer operator to approve the money transfer being made. Depending on the situation this can take up to five days.

Small World Funding Time

It is the amount of time it takes for the recipient to receive the money transfer. Once your Small World money transfer has been approved the money should be in your account within four working days.

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Things to Check Before a Small World Money Transfer

Why more features are useful for modern life’s and why new challenger banks are starting to beat traditional banks.

Here are a number of important things to consider before considering Small World money transfer:

  1. Reliability and safety
  2. Making preparations before the transaction
  3. Convenience
  4. Transfer and conversion rates
  5. The quality of the customer service offered

Small World review
Small World Customer Support

Small World support should be there to help customers with their issues which includes answering their queries, guiding them through and difficult processes and issues when transferring money. Small World customer support should troubleshoot any issues with you until you get to a resolution that you are happy with.

When getting a Small World money transfer you will want to speak to a Small World representative in a language that you are comfortable with. All your Money Transfer queries and issues should be resolved quickly.

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Does Small World Offer Live Chat?

Customers can reach out to Small World through live chat to resolve Small World money transfer account issues or difficulties with their Small World account that they can't solve. Live chat, or live support is a real-time live chat feature used by customer support representitives allowing customers to instant message to and receive guidance from a trained agent regarding a your money transfer related query.

Small World review
How does Small World Compare with Other Money Transfer Companies?

When deciding upon a money transfer company like Small World you will want to know how Small World compares with other leading online money transfer companies. See how Small World compares below.

  1. Visit Small World alternative XE Money Transfer

    Used By: 280000000
    Currencies Available: 76
    Transfer Fees: none
    Payment Methods: Bank transfer, credit card, debit card
    iOS App : yes, Android App : yes

    LiveChat:
    Min Transfer: US$1.00
    Max Transfer: US$500,000.00 (or equivalent)
    Year Founded: 1993

  2. Visit Small World alternative Wise Multi-Currency Account

    Used By: 11000000
    Currencies Available: 54
    Transfer Fees: 0.5%-1%
    Payment Methods: Bank transfer, debit card, credit card, SOFORT transfer
    iOS App : yes, Android App : yes

    LiveChat:
    Min Transfer: 1 USD
    Max Transfer: 1000000 USD/transaction/day (personal), 3000000 USD/transaction/day (business)
    Year Founded: 2011

  3. Visit Small World alternative Remitly

    Used By: 3000000
    Currencies Available: 63
    Transfer Fees: 0-3.99$
    Payment Methods: Bank transfer, credit/debit card
    iOS App : yes, Android App : yes

    LiveChat:
    Min Transfer: US$1.00
    Max Transfer: US$20,000.00
    Year Founded: 2011

  4. Visit Small World alternative Wise

    Used By: 11000000
    Currencies Available: 54
    Transfer Fees: 0.5%-1%
    Payment Methods: Bank transfer, debit card, credit card, SOFORT transfer
    iOS App : yes, Android App : yes

    LiveChat:
    Min Transfer: US$1.00
    Max Transfer: US$1,000,000 (varies based on currency)
    Year Founded: 2011

  5. Visit Small World alternative CurrencyFair

    Used By: 150,000
    Currencies Available: 17
    Transfer Fees: 0.45%
    Payment Methods: Bank transfer, debit card
    iOS App : yes, Android App : yes

    LiveChat: yes
    Min Transfer: £5.00 (or equivalent)
    Max Transfer: £10,000,000.00 (or equivalent)
    Year Founded: 2009

  6. Visit Small World alternative Wise Business

    Used By: 11000000
    Currencies Available: 55
    Transfer Fees: 0.5%-1%
    Payment Methods: Bank transfer, debit card, credit card, SOFORT transfer
    iOS App : yes, Android App : yes

    LiveChat:
    Min Transfer: 1 USD
    Max Transfer: 1000000 USD/transaction/day (personal), 3000000 USD/transaction/day (business)
    Year Founded: 2011

  7. Visit Small World alternative InstaReM

    Used By: 130000000
    Currencies Available: 11
    Transfer Fees: 0%-1%
    Payment Methods: bank transfer, POLi payment (Australia), debit card (EU residents), ACH Pull (US residents), FPX (Malaysian residents)
    iOS App : yes, Android App : yes

    LiveChat: yes
    Min Transfer: $1 (minimum sending amounts could differ based on certain currency pairs)
    Max Transfer: No limit (different countries have regulatory limits on outward and inward flow of remittances originating from or to the country)
    Year Founded: 2014

  8. Visit Small World alternative Scotiabank

    Used By: 25,000,000
    Currencies Available: 23
    Transfer Fees: none
    Payment Methods: Bank transfer, debit card, credit card, apple pay, google pay, Scotiabank Saddletone gift cards
    iOS App : yes, Android App : yes

    LiveChat: yes
    Min Transfer: none
    Max Transfer: 10000 USD
    Year Founded: 1832

  9. Visit Small World alternative Skrill

    Used By: 120,000
    Currencies Available: 33
    Transfer Fees: none
    Payment Methods: Cash, bank transfer, debit card, credit card, e-wallet, cryptocurrency (depending on country)
    iOS App : yes, Android App : yes

    LiveChat: yes
    Min Transfer: US$1.00 (varies based on certain currencies)
    Max Transfer: US$2,500.00 / day (weekly and monthly limites also apply)
    Year Founded: 2001

  10. Visit Small World alternative MoneyGram US

    Used By: 150000000
    Currencies Available: 46
    Transfer Fees: 0-1.99$
    Payment Methods: pay by card or directly from your bank account
    iOS App : yes, Android App : yes

    LiveChat:
    Min Transfer: none
    Max Transfer: 3000 USD
    Year Founded: 1940

  11. Visit Small World alternative Xoom

    Used By: 250000000
    Currencies Available: 4
    Transfer Fees: 0$-40$
    Payment Methods: Bank transfer, debit/credit card, PayPal balance
    iOS App : yes, Android App : yes

    LiveChat: yes
    Min Transfer: US$10.00
    Max Transfer: 2999 USD/day, 6000 USD/month, 9999 USD/3 months
    Year Founded: 2001

Small World review
Small World Website and Mobile Apps

Small World has a website available online but it may be useful to manage your Small World account from your mobile device like your tablet or phone.

Small World offers an Android mobile application on the Google Play store.

Small World offers an Apple IOS mobile application for iPhones and iPads allowing Small World to users to check their Small World accounts on their iOS mobile devices.

Small World review
Small World Deposit and withdrawal Methods

Small World offers the following Money Transfer payment methods: Bank transfer, credit/debit card. All of significant bank systems are all acknowledged with Small World.

Small World offers ACH Payment which is used for direct deposit and debit transfers within the US. It is similar in nature to BACS (for the UK) and EFT (for Canada). Users can pay through bank transfer.

The recipient will receive the money in their bank account and can withdraw it using the method they prefer. They cannot, however, receive the money in the form of cash.

Take note that Small World may charge additional commissions and fees when using certain payment and withdrawal methods. These fees may not necessarily come from Small World.

Small World review
Is My Money Safe With Small World?

Small World is a reliable, secure, and trusted option for sending money overseas. Small World are registered and regulated with the Financial Conduct Authority (FCA).These regulatory licenses have strict rules that are enforced. These regulations safeguard the funds entrusted to them by Small World customers.

Small World review
Small World Financial Regulation and Safety of Small World Funds

Every business that wants to send money across borders (in excess of €3 million per month) must be licenced under the Payment Services Regulations 2017 and the Electronic Money Regulations 2011, both of which were created by the UK government but executed by the FCA for UK residents.

Consumer credit, in simple terms, is credit offered to individuals so they can purchase goods or cover personal expenses. It does not cover long term investments such as purchasing property. It allows for a properly managed economy to function and further encourages economic growth.

Firms like Small World that offer money transfer to retail customers are legally considered to be offering consumer credit.

A financial regulator ensures that consumers are protected, there is fair competition in the money transfer industry and the integrity of the Financial services industry as a whole is maintained.

Getting a money transfer with a regulated company is essential as it offers an increased level of protection than a money transfer from an unregulated one. This is because regulators are able to enforce strict rules and stop unscrupulous money transfer operators.

Laws differ on who can and cannot offer consumer credit in each country. Credit firms have strict rules that they must follow in order that they are legally allowed to transfer money to consumers. These laws are in place to protect consumers becoming trapped in a money transfer they can never pay off.

Be sure that Small World is fully licenced as a money transfer company.

Small World review
Small World Payment Services Regulations and Small World

The Payment Services Regulations Directive, is run by the European Commission in order to govern payment services and their providers across the European Union as well as the European Economic Area.

One of its goals has been to make foreign currency transactions transparent, much like currency payments. This is to protect consumers and businesses from being swindled.

What is the Financial Conduct Authority?

The FCA is a control body meant to license money transfer companies. Companies such as banks, Forex brokers, and money transfer operators are monitored the most. This is because they deal in situations that involve many intricacies, such as transferring money and offering loans, etc.

All reputable money transfer businesses that operate within the United Kingdom by law have to be registered and authorised as a payment institution by the Financial Conduct Authority (FCA) to comply with the Payment Services Regulations that were introduced in 2017.

Check Small World is financially regulated. Small World is regulated by the Financial Conduct Authority (FCA).

This makes sure that your Money Transfer agreement is above board and safe. In Addition, it Usually Means that Small World Possess a responsibility of care to their clients.

Is Small World Registered as a Money Service Business with HM Revenue & Customs

Financial institutions (which do not classify as banks) which convert and transmit money like Small World are known as Money Service Businesses. While they provide services similar to banks, they are still not considered banks. They offer more varied product options to individuals looking to transmit or convert money.

Financial authorities tend to keep tabs on Small World and other Money Service Businesses the most because the type of services they offer can leave them vulnerable to be used in financial crimes like money laundering. This is why it is crucial for them to be registered with the HM Revenue and Customs in the United Kingdom.

Small World Segregation of Client Funds

Small World as part of their regulation are required to segregate client funds from Small World company funds and keep all client funds within a bank that is authorised as a credit institution by the regulator. All client funds should be kept in the most reputable third-party financial institutions such as Barclays or the Bank of America.

Small World regulatory requirements mean that Small World Money Transfer funds and your funds should be totally separate. Small World cannot use any money that is still legally yours to conduct Small World daily business like paying Small World suppliers and costs. Your funds should be kept by Small World in a segregated bank account.

Small World Regulation Checklist

  • Check whether Small World has authorisation to offer consumer credit
  • Check the type of activities that Small World are allowed to conduct with their authorisation
  • Check the contact details, trading names and main business of Small World list on their website and the regulator match.

Small World Fraud Prevention Features

Fraud prevention is highly crucial when transferring money because once the money is gone, it's gone. Scammers most often gravitate towards money transfers. Lack of fraud prevention procedures can lead to loss of funds, or even identity theft.

Small World goes to great lengths to protect your Small World account from fraudulent use. We explain some of Small World anti-fraud features below:

  1. Small World has SSL encryption that protects the customer's private information.
  2. Small World has cutting edge technology that monitors almost everything i.e. from logins to transactions.
  3. The Small World platform has a bespoke monitoring system that helps to detect and prevents fraud.

Automated Transaction Confirmations

Having instant notifications turned on is not only convenient because the user is instantly alerted whenever there is a payment related activity on their Small World account, as you are instantly aware of every Small World transaction these notifications to your phone help you to keep tabs on any suspicious activity.

After conducting a transaction with Small World, the Small World accounts primary contact will receive a transaction confirmation confirming the transaction amount, rate exchange applied, and Small World delivery instructions.

Small World Monitors Your Account for Suspicious Transactions

Small World has systems and controls in place to detect fraudulent activity and protect Small World client accounts from misuse. If Small World detect a questionable transaction on your Small World account, Small World will contact you to verify the transactions legitimacy to ensure your Small World funds are safe.

How Does Small World Make Money?

Small World and other money transfer companies often charge their customers a certain amount of interest fees on every transaction made. The fees depend on the amount of money the customer wishes to transfer. Small World also earn money via foreign exchange rates.

Money transfer companies like Small World and banks need to survive, so they make money on interest from accounts and money transfers.

Small World Frequently Asked Questions

We list some of the most frequently asked Small World questions below.

Is there a limit to how much I can transfer with Small World?

You can transfer up to Varies (US$2,000.00 for card transfers) at a time.

When will I receive my Small World transfer?

It normally takes 3-5 business days.

Is it possible to cancel my Small World transaction?

If you need to cancel your transaction due to any reason, kindly contact us on this number 442074071800.

How old do you have to be to sign up to a Small World account

To signup to a Small World account you will need to be at least 18 years old.

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Is Small World a Scam?

Small World have been in operation since 2005 and have over 15000000 customers and 800 employees. Small World is not a scam.

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Sending money online with Small World

Sending money with Small World is a single process once you have registered and verified your Small World account and payment methods.

  1. Go to the Small World website
  2. If you have a Small World account you can log in, otherwise you will need to create a new account.
  3. Decide how much you would like to send and where you want to send it to.
  4. Enter all the required information about the beneficiary, this might include their name, address, bank account details, and other personal data.
  5. Tell Small World how the beneficiary wants to get their money. Eg. through a bank transfer, cash pickup, or via some other means.
  6. Agree to the Small World exchange rate and any fees.
  7. Pay for your Small World transfer.
  8. Enter your information and provide and supporting documentation to verify your identity.

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How do I receive money from a Small World money transfer?

Depending on where you are located, you have a few options for how you can receive any money that has been sent to your Small World account. Your options for receiving money depend on the information entered by the sender, the country you are in, the currency you are receiving, and some other factors. Some methods of receiving money may not be available to you.

Receive Small World money directly into a bank account

Bank transfers are useful because not only are they safe, but the whole process is quick, and they offer the kind of flexibility no other method can. Small World allows for a deposit directly into your bank, credit union or other financial account.

Small World Cash Pickup

Some money transfer companies have agents around the world, and you will need to take identity documents to receive cash. Money is typically available within ten minutes of being sent. Small World allows you to pick up money in person at a Small World agent location.

Small World Smart Money and mobile wallets

A mobile wallet virtually stores cash card details on a smartphone. These are quite convenient as they allow for users to make purchases at physical stores without needing to carry money.

Small World Does not support mobile wallets.

Small World Home delivery

It is a way for an individual to receive money without having to leave home. What this means is that any money you send can be received in person at a designated home address. The money is delivered by a local agent. Small World do not offer home delivery money transfers.

When was Small World founded?

Small World was founded in 2005.

Is Small World Any Good?

Small World have a rating of 3 and are financially regulated, Small World can be considered a good money transfer company.

Is it easy to close my Small World account?

Its is easy to close you Small World account. You will have to make sure any outstanding payments and fees due to Small World are paid in full Before Small World will fully close your account. Make sure when closing your account Small World send you an official confirmation that your account is closed and no more monies are due to Small World.

Does it take long to setup a Small World account?

No, setting up a Small World account can take a few minutes. You will need to provide some proof of identity and address. You should definitely be able to access all the features of your Small World account in 1-3 days.

Where are Small World based?

Small World are based in London (GB)

Countries where Small World is legal?

Small World is legally allowed to operate in over 22 countries.

How do I track a Small World Money Transfer

You can track a Small World money order by calling Small World or by tracking the order online. Call Small World number on 442074071800. The Small World automated phone system will take a few details and give you a status update. You can go online to the Small World website and check the status of a money transfer at any time.

If you have a Small World online account, log in and view your transaction history; If you do not have an online account, or if you are the receiver of the Small World transaction, use the Small World payment reference number on the Small World website to check the status of the transfer.

Can I cancel my Small World transfer?

The way that you cancel a Small World transfer depends on how you created and sent the Small World money transfer originally.

You may need to contact Small World by phone on 442074071800, through their website at www.smallworldfs.com or via email [email protected]. Requests are typically processed within 30 days, and you may be charged a cancellation fee by Small World.

If you made the Small World transfer online, then you should log in, find the transaction in your transaction history and then cancel it on the 'Transaction Details' page. If you do not have a Small World account, use the 'Track a Transfer tool to find the transaction and then cancel it on the Transaction Details page.

Double check the terms and conditions for cancelling a Small World transfer on their website.