WorldRemit vs. Sendwave

If you have family living in the UK, USA, or Canada, you know the drill. They work hard to send money home, but by the time that money hits your M-Pesa or MTN wallet, it feels like a chunk of it has gone missing.

There are two giants in the mobile remittance game: WorldRemit and Sendwave.

Both promise to be fast. Both claim to be cheap. But when it comes to the only number that matters—the final amount of shillings in your pocket—who is the actual winner?

At PesaSmart, we dug into the fees, the speed, and the hidden costs to give you the honest verdict.

The “Zero Fee” Trap (Read This First)

Before we compare them, you need to understand the biggest trick in the industry.

Many apps will scream “Zero Transfer Fees!” They claim sending money is free. It is not.

Instead of charging a visible fee (like $5), they make their profit on the Exchange Rate.

• The real market rate might be 1 USD = 3,700 UGX.

• The app might give you 1 USD = 3,600 UGX.

• That difference of 100 UGX per dollar is their profit.

So, when comparing WorldRemit and Sendwave, don’t just look at the “Fee.” Look at the Total Amount Received.

1: Sendwave

Sendwave disrupted the market by being incredibly simple. It was built specifically to send money to mobile wallets in Africa (M-Pesa, MTN, Airtel) instantly.

• The Good: It is famous for speed. In most cases, sending money via Sendwave is as fast as sending a text message. It is also strictly mobile-first—no agents, no paperwork.

• The Cost: Sendwave usually charges no sending fees from major countries like the UK, US, and Europe.

• The Verdict: Sendwave often has slightly lower exchange rates than the “mid-market” rate, but because they have zero fees, they are extremely competitive for smaller amounts (e.g., sending $50 or $100).

2: WorldRemit

WorldRemit is the veteran. They cover way more countries and offer more options than just mobile money—you can do cash pickup, bank transfers, and even airtime top-ups.

• The Good: Flexibility. If your recipient’s phone is off or they need cash, WorldRemit allows them to pick up hard currency at a bank or agent.

• The Cost: WorldRemit often charges a small transaction fee (e.g., $2.99 or £1.99), although they frequently have promo codes to waive this for new users.

• The Verdict: WorldRemit often offers a slightly better exchange rate than Sendwave. This means if you are sending a large amount (e.g., $500 or $1,000), the better rate usually covers the cost of the fee, leaving the recipient with more money.

A Hypothetical Example

Let’s imagine your cousin in London wants to send £100 to your MTN Uganda Mobile Money account.

(Note: Rates change daily, so this is an example of how the math works).

• Sendwave:

  • Transfer Fee: £0

  • Exchange Rate: 1 GBP = 4,700 UGX

  • Recipient Gets: 470,000 UGX

• WorldRemit:

  • Transfer Fee: £1.99 (So you send £98.01 worth of currency)

  • Exchange Rate: 1 GBP = 4,750 UGX (Better rate)

  • Recipient Gets: 465,547 UGX

In this small transfer example, Sendwave wins. The “Zero Fee” structure beat the better exchange rate. However, as you increase the amount sent, WorldRemit’s better rate often allows it to catch up and overtake Sendwave.

Speed and Convenience

• Winner: Sendwave. For pure mobile money transfers to East Africa, Sendwave is unbeatable on simplicity. The app is cleaner, faster, and designed specifically for M-Pesa and MTN users.

• Runner Up: WorldRemit. WorldRemit is fast, but the app can feel a bit more cluttered because it offers so many different services (Airtime, Cash Pickup, Bank Transfer).

PesaSmart’s Final Verdict

Which one should you use?

1. Use Sendwave IF:

   • You are sending smaller amounts (under $200/£150).

   • You want the money to arrive instantly.

   • You are sending specifically to a Mobile Money wallet (M-Pesa/MTN/Airtel).

2. Use WorldRemit IF:

   • You are sending large amounts (over $300/£250) where the better exchange rate matters more.

   • You have a promo code for a “Free First Transfer.”

   • The recipient prefers Cash Pickup or a direct Bank Deposit.

The Smartest Move? Download both apps. Before you hit send, open both and type in the amount. Spend 10 seconds checking who gives you the higher “Amount Received” total. That 10 seconds could buy your family an extra loaf of bread.

Disclaimer: Exchange rates fluctuate every minute. Always check the live rates on the app before confirming your transaction.