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The cost of sending money depends on what country you’re sending to, but the fee is typically 1-2% (which is quite high). The good news is that the fee doesn’t change based on whether you’re sending a bank transfer, cash pickup, or another type of transfer. In addition, your first transfer with Small World is free.
Small World also hides fees inside its exchange rate, which is slightly less favorable than the market rate. The difference again depends on what currency you’re sending, but expect to pay around 2% for the currency conversion. In total, you could pay up to 4% per money transfer with this service.
Small World allows you to send money through either an online platform or a mobile app (available for iOS and Android). You can choose your base currency and the country to which you want to send money, and the service will clearly display the transfer fee and the exchange rate. So, you can see exactly how much you’ll pay and how much money your recipient will receive.
One of the benefits of Small World is that you have a wide variety of transfer options for most countries. You can send cash, which can be picked up at any of 253,000 locations around the world or, in some countries, delivered directly to the recipient’s home. Alternatively, you can transfer money to a bank account, mobile wallet, or prepaid debit card. Small World even lets you send money straight to a local phone company so that you can pay the recipient’s mobile bill or prepay for phone minutes.
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Once you send money, you can track the transfer through your account. You’ll also receive a MTN tracking number, which your recipient can use to track the transfer on Small World’s website without creating an account.
Small World doesn’t have a daily transfer limit, which is a plus for this service. But if you want to send more than $2,500, you can’t use the online portal. Instead, you’ll need to call the company to set up a transfer over the phone.
Money transfers through Small World can take anywhere from one to three days. Unfortunately, the platform doesn’t provide information about how long a transaction will take to clear when generating a quote. Cash pickups are typically available in a day, while the waiting time for bank transfers varies more widely between countries.
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Small World provides customer service by phone, email, and live chat from 9 AM to 6 PM Eastern, Monday to Friday. The company’s website also has a helpful online knowledgebase with answers to common questions.
Small World protects customer’s money by keeping all funds in segregated accounts during transfer. In addition, the company’s website is encrypted to keep your payment data secure. Small World is regulated by the UK government through the Financial Conduct Authority.
Small World offers simple, fast money transfer around the world. This service stands out for offering more than 250,000 cash pickup sites and the ability to send money to a debit card, mobile wallet, or mobile service provider. However, Small World is relatively pricey, with fees that can add up to 4% of your total transfer.
