Rewire is the banking alternative for immigrant workers.
What is Rewire money transfer?
Rewire is a dedicated financial service and remittance provider from Israel that is designed specifically for working migrants. Rewire was launched in 2015 as an online money transfer and digital banking company designed for customers who wish to remit money home. Apart from offering money transfer services, Rewire provides other services such as free IBAN account which can be used to receive money. Customers are also given Mastercard, which they can use to make purchases and withdraw cash. However, Rewire allows its customers to send money to specific countries.
Rewire offers its customers with a dedicated EUR IBAN account once they sign up. Rewire platform limits the use of its services and the creation of new accounts out of the European continent. Notably, Rewire supports residents of countries such as the Philippines, China, Nepal, Thailand, India, and Nigeria to send money to their home countries. However, Rewire has plans to expand the number of its money transfer services to cover more locations.
How does Rewire work?
Customers who wish to send money or use any of the Rewire services must open an account through the Rewire website or mobile app. When opening the Rewire account, customers must provide their full names, email, and phone number, submit a photograph, upload an ID and offer any additional information which may be required. After creating an account, customers can deposit money using options such as SOFORT, bank transfers, debit, and credit cards. By making deposits, customers will be allowed to send money to any of the countries supported by Rewire. However, Rewire charges a 1% fee of the amount transferred for all international transactions, but local ones are free.
Rewire Transfer Speed
Local transfers can be completed between 1 to 3 days. The time taken for the recipient to receive money depends on the model used for money transfer. Transferring cash from the Rewire account to a bank account takes between 10 minutes to two business days. When you deposit money into your account using instant bank transfer, SOFORT, credit card, or debit card, funds are available immediately. On the other hand, if you use the Single Euro Payments Area to make transfers into your account, it might take between 2 to 3 business days for the process to be completed. Countries that accept Rewire transfers include the Philippines, India, Nigeria, Nepal, Thailand, Sri Lanka, Kenya, China, and Ghana.
Is Rewire money transfer Reliable and safe?
Rewire Customer support
All registered customers can contact the Rewire customer support team through social media, live chat, and telephone, or access the FAQs. Generally, the customer support team representatives offer assistance during the following hours:
- 7 am to 6 pm ( Sunday to Thursday)
- 7 am to 1 pm ( Friday)
- 10 am to 6 pm( Saturday)
Rewire money transfer also offers dedicated customer support on Chat, Viber, Whatsapp, and Messenger.
- Highly cost-effective since fees are capped at 1% of the amount transferred.
- Rewire is a Licensed and authorized money transfer service provider, especially for customers based in European countries.
- Offers a powerful mobile application for sending and receiving funds. The mobile apps for iOS and Android can be accessed at any time of the day through Google play store. Also, users can personalize the mobile application into their preferred language, such as Kiswahili, Filipino, Chinese, and English.
- First-time customers get discounted transfers.
- Rewire does not have excessive payments, hidden charges, or annual fees.
- Rewire does not offer multi-factor authentication features.
- Low support services especially on Saturdays and Fridays
- Service delivery covers a few countries
Rewire is one of the best international money transfer service providers on the market that offers user-friendly services. Rewire service is fast, efficient, and cost-effective. Additionally, customers are assured of security and safety through ID verification, firewall protection, and Secure Socket Layer (SSL) technology.