World First Review

World First Review Summary

WorldFirst is one of the leading currency exchange services. It offers live rates for all major currencies and allows you to book and pay for a rate in one easy step. Its reputation has been earned through numerous awards and is well-regarded by big names. WorldFirst offers its services through its subsidiaries in the US, Singapore, Australia, and the UK. The company uses a proprietary technology platform to streamline and automate the transactions. Its user-friendly website features award-winning customer support. The firm is well-positioned to meet the needs of international commerce, and is one of the fastest growing companies in the foreign exchange market. Its global presence and award-winning customer service make it one of the top choices for customers looking to trade currency online.

World First review
World First Features

World First Year Established

2004

World First International Clients

World First accepts international clients.

World First Age requirement

18 years

World First Currencies Offered

16 online

World First Minimum Transfer

none

World First Transfer Fees

0.5%-0.6%

World First Office Locations

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

World First Employees

418

World First Turnover

342,000,000 USD

World First Regulation

Australian Securities and Investments Commission (ASIC)

World First Fees

World First transfer fees are 0.5%-0.6%.

Fees with World First 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 World First, the World Bank Statistics reveal that an additional markup of between 1 and 4 per cent is incurred.

World First Client Rating

World First has a rating of 3.

Number of World First customers

240,000

World First Website

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

World First Supported Languages

Month Savings
January $100
February $80

World First Review

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

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

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

World First review
World First Advantages

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

World First review
World First Disadvantages

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

What Is World First?

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

World First was founded in 2004 by Jonathan Quin and has offices in London (GB).

World First provides money transfer services to its 240,000 customers who are from all over the world including Most of the countries around the globe.

The London (GB) World First business was founded in 2004 to deliver money orders locally and internationally.

Do World First 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 World First Trusted And Established?

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

World First was established in 2004 in London (GB), and has been in operation for around 20 years World First have a head office in London (GB).

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How much does it cost to send a World First Transfer?

World First 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. World First only charges 0.5%-0.6%, when compared to other money transfer service providers.

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How much can I send with World First?

The maximum transfer amount with World First is up to none (or its currency equivalent) online.

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

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World First Money Transfer Terms and Conditions

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

  1. World First Speediness. Often the need to money transfer may be urgent and time critical.
  2. World First 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. World First 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. World First 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. World First 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. World First customer service should respond to your queries quickly and work with you to resolve any issues that you have.

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How World First Compares To Other Money Transfer Companies

NameWorld FirstXE Money TransferWise Multi-Currency Account
Usedby240,00028000000011000000
Transfer Timeup to 3 business days1-4 business days1-2 business days
Min TransfernoneUS$1.001 USD
Max TransfernoneUS$500,000.00 (or equivalent)1000000 USD/transaction/day (personal), 3000000 USD/transaction/day (business)
Payment MethodsDebit card, Onlon/telephone transfers, BACS, Direct Debit, CHAPS (differ by regions)Bank transfer, credit card, debit cardBank transfer, debit card, credit card, SOFORT transfer
iOS Appyesyesyes
Android Appyesyesyes

World First review
World First Risk Warning

Any taxes or charges are payable in the destination country. costs may exist that are not paid through World First or imposed by World First. Your World First 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 World First account.

World First review
World First Fees & Exchange Rates

Several money transfer platforms like World First 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 World First may charge for a currency exchange.

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World First Transfer Fees

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

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World First Exchange Rate Margins

Exchange rate margins are how World First, 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 World First quotes an exchange rate to a customer, they usually take the interbank rate and add an amount known as a margin rate. Check with World First to see what their exchange rate margin is.

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World First Methods to Transfer Funds

A World First 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

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

World First review
World First 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.

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

World First Money Transfer Currencies
NameCurrencies
USD, GBP, EUR, SGD, AUD, NZD, HKD, CAD, MYR, AED, JPY, CNH, THB, PHP, INR, IDR
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

World First review
World First Transfer Options

World First offers the following transfer options:

World First Money Transfer Options Compared
NameTransfer Options
Bank deposit
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 World First. 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 World First Services Are Available To

World First 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.

World First Country Restrictions

World First does not operate in the following countries :

  • Afghanistan
  • Aland Islands
  • American Samoa
  • Angola
  • Anguilla
  • Antarctica
  • Antigua and Barbuda
  • Barbados
  • Belize
  • Benin
  • Bhutan
  • Bonaire (including Sint Eustatius and Saba)
  • Bouvet Island
  • British Indian Ocean Territory
  • Burkina Faso
  • Burundi
  • Cape Verde
  • Central African Republic
  • Chad
  • Cocos (Keeling) Islands
  • Comoros
  • Congo
  • Democratic Republic of
  • Congo
  • Republic of
  • Cook Islands
  • Crimea
  • Cuba
  • Curacao
  • Djibouti
  • Equatorial Guinea
  • Eritrea
  • Faroe Islands
  • Fiji
  • French Guyana
  • French Polynesia
  • French Southern Territories
  • Gabon
  • Gambia
  • Greenland
  • Grenada
  • Guadeloupe
  • Guinea
  • Guinea-Bissau
  • Guyana
  • Haiti
  • Heard Island and Mcdonald Islands
  • Holy See (Vatican City State)
  • Iran
  • Iraq
  • Ivory Coast (Cote d'Ivoire)
  • Japan
  • Kiribati
  • Kosovo
  • Kyrgyzstan
  • Lao People’s Democratic Republic
  • Lebanon
  • Liberia
  • Libya
  • Macao
  • Mali
  • Marshall Islands
  • Martinique
  • Mauritania
  • Mayotte
  • Micronesia
  • Federated States of
  • Montserrat
  • Myanmar
  • Namibia
  • Nauru
  • New Caledonia
  • Niger
  • Niue
  • Norfolk Island
  • North Korea
  • Northern Mariana Islands
  • Palau
  • Palestinian Territory
  • Papua New Guinea
  • Reunion
  • Pitcairn
  • Rwanda
  • Saint Barthelemy
  • Saint Helena
  • Saint Kitts and Nevis
  • Saint Lucia
  • Saint Martin
  • Saint Pierre and Miquelon
  • Saint Vincent and the Grenadines
  • Sao Tome e Principe
  • Seychelles
  • Sierra Leone
  • Sint Maarten
  • Solomon Islands
  • Somalia
  • South Georgia and the South Sandwich Islands
  • Sudan (North and South)
  • Suriname
  • Svalbard and Jan Mayen
  • Syria
  • Tajikistan
  • Timor-Leste
  • Togo
  • Tokelau
  • Tonga
  • Turkey
  • Turkmenistan
  • Turks and Caicos Islands
  • Tuvalu
  • Vanuatu
  • Venezuela
  • Wallis and Futuna
  • Western Sahara
  • Western Samoa
  • Yemen
  • Zimbabwe
  • Crimea
  • Cuba
  • Iran
  • Libya
  • North Korea
  • South Sudan
  • Sudan
  • Syria

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

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World First 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 World First money transfer is quick and simple with the modern World First 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 World First website.

The World First 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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World First 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. World First has a minimum transfer amount of none.

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World First Maximum Money Transfer

Money transfer companies often do not have maximum transfer limits. For example, World First does not have a maximum transfer limit when the user is paying through phone. There is however, a none limit per transaction for online transfers.

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World First Money Transfer Fees and Charges

These are the fees charged by World First 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.

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How Long Does It Take to Get a World First Money Transfer

World First 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 World First, 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 World First.

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World First 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. World First is not a publically listed company. World First is a privately owned company.

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World First Money Orders

The charges for issuing money orders with World First are 0.5%-0.6%.

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World First Mobile Top Up

World First offers mobile top ups.World First 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.

World First 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 World First directly to see what they are able to offer if you are adversely affected by COVID-19.

Who are World First Money Transfers Best For

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

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

World First Guide for Fast Money Transfer Approval

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

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

World First Application Time

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

World First Approval Time

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

World First Funding Time

It is the amount of time it takes for the recipient to receive the money transfer. Once your World First 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 World First 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 World First 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

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World First Customer Support

World First 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. World First customer support should troubleshoot any issues with you until you get to a resolution that you are happy with.

When getting a World First money transfer you will want to speak to a World First 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 World First Offer Live Chat?

Customers can reach out to World First through live chat to resolve World First money transfer account issues or difficulties with their World First 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.

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

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

  1. Visit World First 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 World First 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 World First 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 World First 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 World First 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 World First 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 World First 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 World First 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 World First 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 World First 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 World First 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

World First review
World First Website and Mobile Apps

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

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

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

World First review
World First Deposit and withdrawal Methods

World First offers the following Money Transfer payment methods: Debit card, Onlon/telephone transfers, BACS, Direct Debit, CHAPS (differ by regions). All of significant bank systems are all acknowledged with World First.

World First 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 World First may charge additional commissions and fees when using certain payment and withdrawal methods. These fees may not necessarily come from World First.

World First review
Is My Money Safe With World First?

World First is a reliable, secure, and trusted option for sending money overseas. World First are registered and regulated with the Australian Securities and Investments Commission (ASIC).These regulatory licenses have strict rules that are enforced. These regulations safeguard the funds entrusted to them by World First customers.

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World First Financial Regulation and Safety of World First 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 World First 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 World First is fully licenced as a money transfer company.

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World First Payment Services Regulations and World First

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 World First is financially regulated. World First 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 World First Possess a responsibility of care to their clients.

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

Financial institutions (which do not classify as banks) which convert and transmit money like World First 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 World First 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.

World First Segregation of Client Funds

World First as part of their regulation are required to segregate client funds from World First 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.

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

World First Regulation Checklist

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

World First 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.

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

  1. World First has SSL encryption that protects the customer's private information.
  2. World First has cutting edge technology that monitors almost everything i.e. from logins to transactions.
  3. The World First 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 World First account, as you are instantly aware of every World First transaction these notifications to your phone help you to keep tabs on any suspicious activity.

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

World First Monitors Your Account for Suspicious Transactions

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

How Does World First Make Money?

World First 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. World First also earn money via foreign exchange rates.

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

World First Frequently Asked Questions

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

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

You can transfer up to none at a time.

When will I receive my World First transfer?

It normally takes 3-5 business days.

Is it possible to cancel my World First transaction?

If you need to cancel your transaction due to any reason, kindly contact us on this number +442078011065.

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

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

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Is World First a Scam?

World First have been in operation since 2004 and have over 240,000 customers and 418 employees. World First is not a scam.

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Sending money online with World First

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

  1. Go to the World First website
  2. If you have a World First 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 World First how the beneficiary wants to get their money. Eg. through a bank transfer, cash pickup, or via some other means.
  6. Agree to the World First exchange rate and any fees.
  7. Pay for your World First 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 World First 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 World First 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 World First 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. World First allows for a deposit directly into your bank, credit union or other financial account.

World First 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. World First allows you to pick up money in person at a World First agent location.

World First 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.

World First Does not support mobile wallets.

World First 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. World First do not offer home delivery money transfers.

When was World First founded?

World First was founded in 2004.

Is World First Any Good?

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

Is it easy to close my World First account?

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

Does it take long to setup a World First account?

No, setting up a World First 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 World First account in 1-3 days.

Where are World First based?

World First are based in London (GB)

Countries where World First is legal?

World First is legally allowed to operate in over 8 countries.

How do I track a World First Money Transfer

You can track a World First money order by calling World First or by tracking the order online. Call World First number on +442078011065. The World First automated phone system will take a few details and give you a status update. You can go online to the World First website and check the status of a money transfer at any time.

If you have a World First 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 World First transaction, use the World First payment reference number on the World First website to check the status of the transfer.

Can I cancel my World First transfer?

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

You may need to contact World First by phone on +442078011065, through their website at www.worldfirst.com or via email [email protected]. Requests are typically processed within 30 days, and you may be charged a cancellation fee by World First.

If you made the World First 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 World First 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 World First transfer on their website.

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