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Small World is no longer accepting new customers or transactions. The business has been placed into Special Administration.
As it stands, many customers who made transfers in early June 2024 have lost access to their money.
We await further news on how the administrators plan to handle the next steps.
Read more on The Guardian.
Alternatives to Small World
"Over 16 million customers use Wise, mostly for their excellent mobile app, transparent fee structure & use of mid-market rates. Now increasingly used for larger transfers."
"Zing is a new money transfer app, offering a best-in-class mobile app & member perks. Fee structure is competitive, especially for smaller, regular payments."
"Remitly focuses on sending money to friends and family in Asia, Africa and South America. Wide coverage and well-suited to regular transfers home."
"Xe has over 30 years of currency exchange experience, and is one of the most reputable names on the market. 200 countries, 100 currencies, & funds often received in seconds."
"Most transfers are instant or same-day. Customers can earn rewards on every transaction."
"Revolut has 50+ million customers globally. You can hold up to 36 currencies in the app and send money quickly in 70+ currencies to 160+ countries."
"24/7 live chat support provided in six languages. Special first transfer rates available, with airtime topup supported to many countries in Africa, Asia and South America."
Alternatively, use the button below to find the best service for your needs.
Small World had many users in the past. Below is our original review of the service, and how it compares to similar services.
Scoring Small World
The key areas of our Small World review are focused on the fees & exchange rates, transfer limits & speed, product offering, ease of use, safety, and customer feedback.
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:
- Fast transfers: Small World delivers instant or same-day transfers to more than 90 countries around the world.
- Several payout options: You can transfer money to bank accounts, cash cards, pickup locations, or mobile wallets, or have it delivered to recipients’ doorsteps.
- Mobile app: You can make transfers on the go using a mobile app available on both Android and iOS platforms.
- Real-time payment tracking: You can track your transfer to establish where it is for peace of mind.
- Secure and trusted: Over 15 million customers use the service and more than 1 million transactions are processed on the platform monthly.
- Fixed fees: Transfer fees are fixed irrespective of the amount. While this is advantageous for people making large transfers, fees on small transfers can add up quickly.
- Customer support: There is an online chat service, but it can take about 25 minutes or even more for you to be attended to.
- Limited sending network: You can sign up for an account and send money from only 21 countries. This limits people from other countries from using the service to send money.
Small World fees and exchange rates
Fees and rates
Unlike banks and other money transfer companies that charge hefty international transfer fees, Small World charges small fees and exchange rate margins in order to ensure more of your money gets to your intended recipient.
Exchange rates
The exchange rate you will get from Small World includes a markup 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 9th August 2022:
Sending GBP 1,000 to Kenya:
Bank Deposit: The provider gives a KES/GBP rate of 141.6902 KES against the interbank rate of 142.30. This translates to a margin of 0.43%. These are also the same rates that you would pay for the cash pick-up option.
Mobile Wallet: You will get a KES/GBP rate of 142.3120 compared to the interbank rate of 142.30. The margin here is 0.008%.
Sending GBP 1,000 to India:
Bank Deposit: If you deposit directly into a bank account, you will get an INR/GBP rate of 95.8818 against the market rate of 96.20. This gives you a margin of 0.33%
Mobile Wallet: Small World does not offer mobile wallet payouts to India.
Cash Pickup: If you choose this pay-out method, you will get an INR/GBP rate of 95.9391 against the mid-market rate of 96.20 This translates to a margin of 0.27%.
From this we can see that exchange rate margins with Small World are usually less than 1% below the interbank, which makes them extremely competitive. They may be higher for specific transfer corridors and currencies, so be sure to double-check the exchange rate you’re being charged before making a transfer.
International transfer fees
In addition to a small markup 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:
Sending £1,000 to the Philippines: The fee you will pay is £4.99
Sending £1,000 to Spain: You will pay fees of £1.50
Sending £1,000 to Brazil: You will be charged £2.99 in fees
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.
Transfer speed
Transfer speed
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.
Transfer limits
Fees and rates
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 countries vary so it is important to check the Small World website to see if it can facilitate the size of transfer you wish to make.
Product offering
Product offering
Supported currencies & destinations
Small World allows transfers to over 190 countries, with some of the most popular being:
When you transfer money to Bangladesh with Small World, the Government of Bangladesh adds an extra 2.5%.
There are 2,587 Small World pick-up locations situated within Colombia, which include many of the country’s top banks.
When you transfer money to Nigeria with Small World your pay-out will be in US Dollars. This is because, in 2020, the Central Bank of Nigeria introduced regulations that money transfers could only be paid in US dollars and not Nigerian Naira.
Payment methods
You can pay for your transfer using the following two options:
Bank Transfer
You can transfer money from your bank to Small World’s client account to pay for your transfer.
Card Payments
You can use your debit or credit card to pay for your transfer. However, ensure you factor in the cash advance fee that some card issuers charge.
Receiving methods
Beneficiaries can receive funds in one of the following ways:
Bank deposit
The money is transferred directly into the recipient’s account.
Cash pick-up
There are over 253,000 locations worldwide that recipients can get their money from.
Mobile wallet
For countries that support this payout method, you can send directly to your recipient’s mobile wallet
Home delivery
If your recipient is in the Philippines, Vietnam, or any other country that supports home delivery, transfers can be delivered at your recipient’s doorstep.
Cash-card reload
You can load your beneficiary’s prepaid cash card directly from Small World’s platform.
Mobile top-up
If you want to send mobile airtime to your loved ones, you can top-up their prepaid phones directly.
Mobile app
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:
Sign up: You can sign up for an account using the app.
Manage beneficiaries: You can add, delete, and change beneficiary details.
Money transfer: You can make your transfer in simple steps right from the palm of your hand.
Track your transfer: Using the app, you can check the status of your transfer and browse through your transfer history
The app has a 3.8/5 rating on the Play Store with 6.48k reviews. On the App Store, it has a rating of 4.6/5 with 5.4k reviews.
Ease of use
Ease of use
Customer service
If you need help with a transfer or any other query, you can reach out to the customer helpdesk through the following channels.
Email: You can email them through the website or at info@smallworldfs.com.
Live chat: The online chat service is available during office hours.
Telephone: Choose your country on the ‘Contact Us’ page and call the number available. For the U.K., it is +44 2031980387, available from Monday to Friday from 9 am - 7 pm and on Saturday from 9 am - 4 pm.
Physical visit: You can also visit a Small World agent or branch near you for additional assistance.
Safety and trust
Safety and trust
Small World has attracted lots of positive reviews and its customer base keeps on growing. Here are some of the trust factors worth looking at as you consider using them for your next transfer.
Legitimacy of Small World
Small World is authorized and regulated by the Financial Conduct Authority (FCA) in the UK reference number 504482. It is also independently regulated in the different countries in which it operates.
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:
LCC- Transcending Ltd
LCC Trans-Envio SPRL
Swiss Transfers GmBH
Small World FS, Ireland Ltd.
Small world Fs Norway AS
Small World FS, Spain SAU
Small World FS, Sweden AB
Small World Financial Services Spain S.A.
Small World Exchange Services, SLU
Trans-Envio Agencia de Cambios Unipessoal LDA
Small World Financial Services Bulgaria Ltd EOOD
Key industry partnerships
Investors
Customer feedback
Customer feedback
On Trustpilot, Small World has a total of 22,012 reviews with 85% of them rated 4 and 5 stars. This is what customers had to say.
- Great exchange rate: The exchange rate offered almost mirrors the mid-market rate in some transfer routes.
- Fast: Transfers are delivered instantly or same day in over 90 countries.
- Simple: The platform is easy to use, and transfers take a few steps to initiate.
- Delayed customer service: Emails take a long to be answered making transfer disputes hard to resolve.
Making international transfers
Sending money online with Small World is simple and, once you’ve registered, it should take less than 10 minutes to send your first transfer. Just follow these four simple steps:
Sending money online
Sign up for an account
Register online for an account with Small World. Once your account has been approved, you’re good to go.
Select destination and amount
Choose the country that you’re sending money to, and the amount that you’d like to send.
Enter recipient's details
Enter the details of your recipient and decide on the pay-out method.
Track your transfer
You can download the mobile app if you wish to track your transfer.
Sending money through the app
The Small World app works in much the same way as the website but conveniently allows you to make transfers whilst on the move. To get started, follow these simple steps and you’ll find your first transfer can be sent in minutes.
Register for an account
Download the Small World app from Google Play or the iOS Apple Store and register for an account.
Choose destination
On the screen choose the country that you wish to send money to.
Enter your recipient's details
Enter the details of your recipient, the amount you wish to send, and the pay-out method.
Track your transfer
Once you’ve confirmed the transaction, you can track your transfer through the app.
Sending money through the agent
With over 5,000 agent locations worldwide, it’s not hard to find a Small World agent if you’d rather make your transfer in person or by cash. Once you’ve found and arrived at your agent, the process is straightforward and should take less than 15 minutes. Our simple steps break it down for you.
Search for the nearest agent
Visit the Find Us section of the Small World website to find the interactive map. You can search via city on the left-hand side or simply zoom in to discover your nearest agent.
Provide a government-issued ID
You will need to bring a form of government-issued ID such as a driver's license with you.
Go to the agent's location
Once you arrive at the branch, one of the friendly agents will talk you through the process.
Sending money through the phone
Small World is one of the few money transfer companies that still facilitate remittances by phone, and this is ideal if you’d like to be guided through the process. You’ll find that it takes just under 10 minutes to complete the transfer – just follow these easy steps:
Provide a copy of your government-issued ID
Email a copy of your government-issued ID to lcc.callcentre.uk@smallworldfs.com
Send the transfer
Make a transfer from your personal bank account to the Small World bank account listed on their website.
Confirm your transaction
Call the call center to confirm, set up, and review where your transaction is being sent to.
Depending on where you’re sending money to, you may need a SWIFT code.
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.
Receive international transfers
Small World has a variety of different pay-out methods, with something to suit all circumstances. While some methods are instant, others can take up to three days to arrive, depending on your location.
Receiving money via bank transfer
Small World facilitates bank wire transfers in 90 different countries and whilst it is usually instant, getting transferred digitally to the account, in some instances a bank transfer can take up to three business days to arrive. To get started follow these simple steps:
Provide the sender with your bank account details
Provide the sender with your bank account details, which should include your bank account number, bank name, bank address, home address, and preferred currency.
Receive funds
Wait for the funds to arrive.
Receiving money via cash pick-up
If you’d rather receive your money transfer in cash, Small World has over 523,000 locations in which you can pick up a transfer. In most cases, your cash should be ready within 24 hours, although this can vary with location. Simply follow our helpful steps:
Search for the nearest agent location
Let your payee know if you have a preferred pick-up location. You can find your nearest agent location by visiting the Find Us page of the Small World website and using the interactive map.
Receive order number
Once the payee has completed the transaction, they will be given a 12-digit order number that they should pass on to you. Take this number and a form of government-issued ID to your chosen location.
Fill in a money transfer form
The agent may ask you a series of questions about the nature of the transfer and have you with details of the sender.
Present your ID then receive the funds
Once the form and your ID have been checked the funds will be released to you.
Receiving money via home delivery
It isn’t always easy to leave your house and if you’re located in Vietnam or the Philippines, home delivery is one of the options available to you. Transfers can take up to three days to arrive. Simply follow these steps:
Inform the sender of your details
Ensure the person making the transfer knows your full home address as it appears on your government-issued ID.
Receive the order number
Once the payee has completed the transaction, they will be given a 12-digit order number that they should pass on to you.
Present your government-issued ID to the courier
Make sure you have a form of government-issued ID ready for when the courier arrives. He will need to check this, as well as the order number.
Receive funds
Once your ID has been approved, the funds will be released to you.
Receiving mobile top-ups
In certain countries, Small World allows users to send mobile airtime to a phone. This can be used for a host of different mobile activities. In most instances, the mobile top-up is instant. Follow these steps to receive your remittance:
Inform your sender of your mobile phone number
Ensure the person making the transfer has your correct mobile phone number.
Receive funds
Wait for your funds to arrive!
Receiving cash reloads
A cash card reload simply involves loading money onto a prepaid cash card and it is ideal if you don’t have a bank account but want the convenience of a fast transfer. Most remittances arrive instantaneously. These steps will help take the hassle out of receiving your remittance.
Inform the sender of your details
Ensure the person making the transfer has your details, including your full name and the long number on the front of your cash card.
Receive funds
Wait for your funds to arrive.
How Small World compares to other transfer services
Fees & Rates9.4Transfer Speed9.0Safety & Trust9.2Product Offering8.8Transfer Limits9.5Ease of Use10.0Customer Feedback8.5Overall
Fees & Rates9.8Transfer Speed9.0Safety & Trust9.0Product Offering8.0Transfer Limits9.0Ease of Use9.0Customer Feedback8.4Overall
Fees & Rates9.3Transfer Speed9.0Safety & Trust9.0Product Offering8.0Transfer Limits9.0Ease of Use9.0Customer Feedback8.7Overall
Fees & Rates9.1Transfer Speed8.0Safety & Trust9.0Product Offering9.0Transfer Limits8.0Ease of Use9.0Customer Feedback9.0Overall
Fees & Rates9.4Transfer Speed8.0Safety & Trust8.5Product Offering8.8Transfer Limits9.5Ease of Use8.2Customer Feedback8.3Overall
Other Alternatives
Alternatively, consider using one of these neobanks for international transfers.
Small World: Is it good for transfers abroad?
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 so there’s always a chance you can save money by using another service.
A bit more about Small World
Are there any promotional discounts available for Small World?
How can I find my nearest Small World agent location?
Can I send money to a company or business?
Help & FAQ
Get answers to the most common questions asked when sending money abroad. Covers costs, fees and the best way to compare.
