Small World is a UK-based payment and money transfer services provider helping people to make inexpensive transfers to their families, friends, and businesses around the world. Small World’s global team of over 800 people help facilitate money transfers to more than 190 countries every day.
This review looks at every aspect of Small World’s services; from the transfer fees and exchange rates to the payment options, the speed of transfer, and customer service provision.
Every month, Small World handles over 1 million transactions, and the company has a customer base of 15 million people around the world. Transfers can be initiated through the online platform, mobile app, or through one of Small World’s over 5,000 affiliated agent locations.
Recipients also have a variety of payment collection methods. The options available to receive money with Small World include home deliveries, direct credits to local accounts, mobile money transfers, and cash pickups at over 250,000 locations worldwide.
Unlike banks and other money transfer companies that charge hefty international transfer fees, Small World charges small fees and exchange rates margins in order to ensure more of your money gets to your intended recipient.
The exchange rate you will get from Small World includes a mark-up from the mid-market rate. The rates vary based on your currency pairing and transfer payout method. To give you an indication of the margins typically charged by Small World, here are 2 examples using rates as of 25th April 2020.
Sending £1,000 to Kenya
Sending £1,000 to India
From this we can see that usually exchange rate margins with Small World are between 1% and 2%, but can be considerably higher for specific transfer corridors and currencies, so be sure to double check the exchange rate you’re being charged before making a transfer.
In addition to a small mark up on the exchange rate, Small World charges flat fees for making transfers, which depend on your transfer destination. Below are some simulations to give you an idea of the fees to think about:
If you pay using a credit card, you may be charged a cash advance fee on top of Small World’s fees and margins. Small World is not in control of these fees, so check with your bank before making a transfer.
Whether you are sending money to a bank, cash pickup location, cash card, mobile airtime top-up or mobile wallet, Small World offers its customers a seamless transfer experience. However, as with any service there are some downsides. Here are some pros and cons of using Small World:
The provider has an advanced technology that ensures customers payments are safe and recipients get funds in ways convenient to them. Here’s a summary of the payment methods available with Small World.
You can pay for your transfer using the following two options:
Beneficiaries can receive funds in one of the following ways:
Small World has a mobile app available as a free download on both the Play Store and App Store. The app has several functions including:
The app has a 3.8/5 rating on Play Store with 2,652 reviews. On the App Store, it has a rating of 4.4/5 but with only 302 reviews.
Transfer speeds depend on the destination and payout methods. Cash pickup, mobile wallet deposits, and cash to card transfers are delivered instantly or on the same day. A typical Small World bank deposit or home delivery takes about 1-3 days to be delivered.
There is no minimum or maximum transfer amount overall, but there are limits for certain payment types and destinations. For instance if you pay using a debit or credit card, the maximum you can send at a time is $2,000. Restrictions on how much you can send to certain counties vary and so it is important to check the Small World website to see if it can facilitate the size of transfer you wish to make.
Small World has attracted lots of positive reviews and its customers base keeps on growing. Here are some of the trust factors worth looking at as you consider using them for your next transfer.
The company was founded in 2005 and headquartered in London, United Kingdom. Initially, it was incorporated as Hexagon Partners Limited company number 5405279. Later, in 2008, it changed its name to Small World Financial Services Group Limited.
For the 15 years the company has been in business, Small World has grown its client base to over 15 million, and now processes more than 1 million transactions to more than 190 countries monthly. Other than the UK,, the company operates in different countries under the following entities:
Small World is authorised and regulated by the Financial Conduct Authority (FCA) in the UKreference number 504482. It is also independently regulated in the different countries in which it operates.
Key industry partnerships
To better its services and expand its sending and disbursing reach, the company has entered partnerships with the following industry players.
Small World has had 5 funding rounds led by investors such as MMC Ventures, Future Fifty, FF&P Private Equity, FPE Capital, and Equistone Partners Europe. In 2018, Equistone Partners Europe acquired Small World Financial Services Group and made it a subsidiary.
On Trustpilot, Small World has a total of 4,787 reviews with 77% of them rated 4 and 5 stars. This is what customers had to say.
You can cancel your order if it has not been paid out. Simply, get in touch with the customer support team by phone, chat or email.
Small World allows transfers to over 190 countries, with some of the most popular being:
If you need help with a transfer or any other query, you can reach out to the customer helpdesk through the following channels.
Small World is a cross border money transfer service supporting transfers to over 190 countries (but only from a list of 21 countries). Over 15 million customers use the platform to move more than 1 million transactions monthly.
Customers can initiate their transactions through the online platform, mobile app, over the phone or by visiting a Small World agent – and Small World can facilitate transactions made with bank transfers and debit or credit cards.
On the payout end, recipients can get their funds deposited into their bank accounts, sent to mobile wallets or prepaid cash cards, sent to cash pickup locations, and even delivered at their homes in some countries. Beneficiaries can also have their phone airtime topped up, giving Small World a great range of different delivery options.
Before using Small World to make a payment, however, it is important to check around for alternatives to see if you’re getting the best possible deal. Through our money transfer comparison tool, we can help you make simple and quick comparisons on who is cheaper and faster.
Small World often features at or near the top of our recommendations, but every transfer is unique and so there’s always a chance you can save money by using another service.
I am very happy with Small World Ireland. I live in Dublin for 13 years and I send money since i arrived and i never had problems. All staff are friendly and helpful. A few weeks ago I had an amazing surprise. I won a beautiful toaster from Small World. I am very happy with them and i trust this company. They are 100 ? % .
Thanks a lot to an amazing staff and friend , Christhiane and the supervisor and staff from the Branch at Abbey Street.
My money has not reached 2 me yet
TERRIBLY RUDE customer service.
I used this once with minimal issue and today was my second attempt at using them.
The process has been unfortunately exhausting and I think I will go back to using Sendwave.
The person I spoke to was not only rude but also did not allow me to speak, I had to ask ‘can you allow me to speak’ but he was so rude!