TalkRemit — Are we really stepping into the future of payments or are we being scammed?
What is TalkRemit
TalkRemit is an international financial services provider regulated by the UK Financial Conduct Authority and specialising in cross-border remittance, founded in 2016.
They have an online money transfer platform and mobile remittance app, that are designed to help people all over the globe to send money to each other without excessive fees or even leaving the house.
Is TalkRemit really safe ?
TalkRemit is a fully-licensed EMI (Electronic Money Institution) and yes it is a legit license you can check it in Financial Conduct Authority enter the name “TalkRemit” choose the option (Firms) and you will see that TalkRemit is actually fully licensed.
Most importantly they use cutting-edge payment protection tools to keep money transfers secure and they offer a 100% money-back guarantee.
What can we use TalkRemit for ?
Talkremit enables people around the world to send money to their friends and loved ones through bank accounts, mobile wallets and cash pickup locations abroad.
Their money transfer app is available in 17 sender countries and you can currently send money to loved ones in over 40 destinations worldwide.
They help banked and unbanked migrants and their communities with all of their essential financial and banking needs.
By going to TalkRemit's official website or downloading the Talkremit app, click on register, enter your cell phone number, email address, make up your own password that must have at least 8 characters, numbers and letters.
You can top up your wallet via your debit/credit card or a bank transfer (using ... account number and sort code). The minimum top-up amount is 10 GBP (Pound sterling) and all top-ups are free of charge.
To send money abroad:
- Enter the amount you wish to send to the beneficiary.
- Next, enter the details of the person you want to send money to, or select them from your contacts list.
- For those people that you have previously sent money to, you can also click on the ‘send again’ link in your transaction.
To verify your identity:
- Wait for a text message to verify your number, enter the code you received and that’s it your account is ready.
- You'll then need to provide your full name, address, date of birth, nationality and the purpose of your account.
- They may ask for a valid photo ID and a utility bill if there were any problems verifying your ID.
- A licensed EMI.
- Offers a 100% money back guarantee.
- It is simple and free to register and download.
- Everyone, including the unbanked, has access to it.
- Low transfer and service fees.
- Not available in some of the major countries.
- Their return policy takes a little longer than desired or anticipated.
I found it as a reliable source to send money through, it has a couple of flaws I did not like the fact that they promise a referral reward and nothing actually is paid out, they said that due to misuse of the referral feature by some people they had to lower it to 1€ but even this was not paid out as well, now they have stopped the (friend referral) transaction, hopefully they will get it back soon and actually pay what they promise, the return of funds is not automatically done you need to contact them and wait for a while, but other than that the transfers happen really fast, I like that the fee cost is lower than most money transfer apps and that their services can be used by you whether you’re moving, migrating or living without financial freedom.