How to speed up your transfers by avoiding these 4 scenarios
We know that there’s a story behind every transaction. That’s why our money transfer service is so easy to manage - so that you can relax, knowing that your money will arrive safely.
Trust is one of the essential pillars we’ve built our business on. We want you to know that if for whatever reason a transfer goes wrong, you can trust us to have your back.
To make sure you enjoy an effortless experience with our online service every time, we created this guide to help you prevent (or quickly fix) possible hiccups along the way.
WorldRemit Content Team
• 3 mins read • Updated
Scenario 1: Invalid WorldRemit account details
One of the most common, but easily fixable, causes of a transaction not going quite right is a simple case of using incorrect details.
Once you decide to make your first transfer with us, you choose the receiving country, the desired amount to be transferred, and the required recipient’s details. But before you can pay and complete your very first WorldRemit transaction, you’ll need to provide some basic personal information. This includes your full legal name, date of birth, telephone number and your residential address.
Why do we need this information to complete your transfer? As a financially regulated company, WorldRemit is required to “Know your customer”. This simply means we have to ensure that you are who you are and that you’re sending money for the right purpose.
If you fill in all your details correctly, in the majority of cases, we won’t need any extra information from you. Our platform and processes will recognise your transfer as safe, automatically release the transaction, and start processing within a few seconds.
To ensure that this is the case for you, double check the following:
Provide us with your legal name. No nicknames, no shortcuts. Your name must be the same as it appears on your passport or national ID.
Have you recently changed your name? If the change isn’t yet reflected on your ID documents, our system might flag up a mismatch. In this case, we might require a legal document confirming the change.
Finally, ensure that your date of birth and address is correct
Luckily, you can manage your WorldRemit account details directly in our app or website. You can also complete the verification of your account before you even transact with us. To do so, visit your account details and select 'Complete your verification'. This way, you can get ahead when you’re ready to send money with us. Handy, right?
Scenario 2: Incorrect recipient details
Once you click 'pay' and your transfer is confirmed, we receive your transaction information on our system. But what if you’ve filled in incorrect recipient details, such as a wrong bank account or made a typo of the recipient’s name for a cash pickup?
WorldRemit has a vast network of partners that help us accommodate all transfers. If we’re able to amend or cancel your transfer while it’s still processing depends on the service you selected, as well as the receiving country.
For some transfers, we can detect incorrect recipient details. If we don’t, then our local partner reports an issue to us. If this is the case, your transfer may will be placed on hold, and we’ll contact you to request the correct details. Once the mistake is fixed, we release the transfer again, and the processing starts over.
However, if the transfer has already left WorldRemit and was transmitted to the receiving partner, we need to communicate with them to ensure that the transfer is amended on their side, too.
To avoid any delays, it’s best to double and triple check your recipient details are correct before you submit your transfer!
Here are the most common mistakes we see, so that you know what to avoid:
Common Mistakes |
|
|---|---|
Cash pickup | Misspelt recipient’s name The name appears in a wrong order Missing middle name The name doesn’t match the recipient’s ID |
Bank transfer | Routing number Sort code number SWIFT number Bank account number Bank selected incorrectly IBAN |
Mobile money | Incorrectly selected mobile money provider Misspelt recipient’s name Incorrect mobile money account |
Scenario 3: Verification process
We want to do all we can to protect you against fraud or scams and ensure that your money is in safe hands. Sometimes, this might mean that we need to conduct extra checks on your account or your transfers.
To ensure that your transfers are released as quickly as possible, always keep an eye on your email inbox for possible communication from us. Sometimes, we request additional information from you without any pending transactions. If you haven’t responded to us in a while, we also might place your pending transfer on hold and request further information from you.
The documents or information we might request vary depending on your unique circumstances, but could include:
Proof of address
Proof of the origin of the funds
ID document
Additional recipient’s information
Scenario 4: Correspondent issues or technical difficulties
Unfortunately, some matters that affect transactions are out of our control. Even we’re not immune to technical difficulties, and neither are our partners!
We have a large team working around the clock to ensure that all operations are running smoothly. If the issue is on our side, we’re usually able to fix it pretty quickly. However, if the issue is on our partner’s side, we need to wait until the technical issue is resolved.
As soon as we receive a report of a technical difficulty on our partner’s side, we update our services and information on our website accordingly. In some cases, this means that we have to disable the affected service until the issue is resolved.
Technical difficulties are frustrating, there’s no doubt. So, we immediately contact all affected customers and offer possible solutions in the meantime - whether it’s to cancel the transfer or to provide additional updates about ongoing technical issues.
There you have it! Five Four scenarios that could affect your transfers and what you can do about them. Most of them can be resolved quickly and your transfers will get to where they need to be, safely.
So, what do you say - ready to send money with us?
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