MasterRemit review
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- Number of Currencies
- 23 (number of countries: 29)
- Minimum Transfer Amount
- $1
- Pay By
- Bank transfer, Credit card, Debit card
- Fees (Pay by Bank Transfer)
- From $0
Summary
Enjoy real-time international money transfers with MasterRemit.
MasterRemit is a solid choice for sending money from Australia to its network of 51 countries, particularly in Africa and Asia, especially if you value multiple payout options like mobile wallets. With over 349,000 customers and 1.9 million transactions processed as of August 2026, it's a popular and fast-growing service.
However, it's not for everyone. If you need to send money to Europe or the Americas, or if you're uncomfortable with potentially detailed requests for personal documentation, you might find services like Remitly or Wise a better fit.
Pros
-
Good for exchange rates that are more competitive than rates from the major banks
Cons
-
Not so great if you want to remit popular currencies like CNY.
Details
Product details
| Product Name | MasterRemit |
| Pay By | Bank transfer, Credit card, Debit card |
| Receiving Options | Cash pickup location, Bank account, Mobile wallet |
| Customer Service | Phone, Email |
| Maximum Transfer Amount | Unlimited |
| Number of Currencies | 23 (number of countries: 29) |
Pros
- Sends to 51 countries with a focus on Africa and Asia
- Multiple payout options including bank deposit, cash pickup and mobile wallet
- With a 4.0-star rating or higher on both app stores
- First transfer is often fee-free for new users
Cons
- Limited support for countries in Europe and the Americas
- Transfer limits vary by country and are not specified upfront
- Some users report intrusive requests for documentation
- Does not support major currencies like CNY, EUR or GBP
What's new with MasterRemit?
MasterRemit has rolled out several key updates in the last couple of years. In August 2026, it launched a completely redesigned mobile app with a new interface and a simpler transfer process.
This followed the addition of new payment corridors to several countries in Africa and the Middle East in December 2025. For Australian users, MasterRemit added PayID as a payment method in October 2024 and Apple Pay in February 2024, expanding its funding options.
MasterRemit at a glance
| Product Name | MasterRemit |
| Supported countries | 51 |
| Supported currencies | 23 |
| Payment methods (from Australia) | Bank transfer, credit/debit card (Visa/Mastercard), PayID, Apple Pay, Google Pay |
| Receiving options | Bank account, cash pickup location, mobile wallet |
| Minimum transfer | $1 |
| Maximum transfer | Varies by country and regulatory requirements |
| Customer service | Phone, email |
How does MasterRemit compare to other services?
MasterRemit's focus on remittance corridors to Africa and Asia puts it in direct competition with services like Remitly and WorldRemit. Its exchange rates are typically more competitive than major banks, but may not always beat specialist providers like Wise or OFX, especially on major currency routes.
Where MasterRemit stands out is its wide range of payout options, particularly mobile wallets, which are crucial in many of its destination countries. However, providers like Wise offer a more comprehensive global network, supporting transfers to over 70 countries, including major destinations in Europe and North America that MasterRemit doesn't cover. If you're sending a large amount, it's always worth comparing quotes from a few services before you commit.
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How much does MasterRemit cost?
MasterRemit has two main costs: transfer fees and an exchange rate margin.
- Transfer fees. These vary depending on the amount, destination country and payment method. Fees can be as low as $0, and MasterRemit often waives the fee on your first transfer as a new user.
- Exchange rates. MasterRemit adds a small margin to the mid-market exchange rate. This margin is how most transfer services make a profit. While its rates are generally better than a bank's, they may not be the absolute best on the market, so comparing is key.
You can see the exact fee and the exchange rate you'll receive before you confirm your transfer.
What are the MasterRemit transfer limits?
MasterRemit does have transfer limits, but it does not publish a single maximum amount. The limits vary depending on the country you're sending to, the payout method you choose and local regulations in the destination country.
If you are planning how to make a large international money transfer, you may need to contact MasterRemit's customer support to confirm the specific limits for your transaction.
What are the payment and payout options?
You can pay for your transfer from Australia using a bank transfer, a credit or debit card (Visa and Mastercard only), PayID, Apple Pay or Google Pay.
Your recipient has several ways to get the money, depending on their country:
- Bank deposit. The funds are sent directly to their bank account.
- Cash pickup. Your recipient can collect the cash in person from a partner agent location.
- Mobile wallet. The money is credited to their mobile money account, such as M-Pesa, bKash or GCash. This is a popular option in many of MasterRemit's key destinations.
How fast are MasterRemit transfers?
MasterRemit claims that most of its transfers are completed within minutes, especially when paying by card, PayID or Apple/Google Pay.
However, the total time can be affected by your payment method. If you pay via a standard bank transfer, MasterRemit will only begin processing your transfer once it has received the funds from your bank, which can take 1 to 2 business days.
Is MasterRemit safe?
MasterRemit was established in 2016 and is regulated in Australia by AUSTRAC. As a regulated entity, it must comply with strict anti-money laundering (AML) and counter-terrorism financing (CTF) laws. This includes verifying customer identities and, in some cases, asking for supporting documents to confirm the source of funds or the reason for a transfer.
This is why some users report being asked for documents like payslips or bank statements, which can feel intrusive. While this is a standard practice for all regulated money transfer services, it's a point of friction for some customers. By law, MasterRemit must also hold customer funds separately from its own business accounts, which protects your money if the company were to face financial difficulties.
The MasterRemit App
Yes, MasterRemit has a mobile app for both iOS and Android, which is one of its strongest features. The app generally receives very positive reviews, and it's often the easiest way to send money. As at August 2026, its ratings for the newly redesigned app:
- Apple App Store: 4.4 out of 5, from 18 ratings.
- Google Play: 4.0 out of 5, from 5 ratings, with over 10,000 downloads.
The app allows you to check exchange rates, initiate new transfers and track the progress of existing ones. Following a major redesign in August 2026, the app has a modern interface and a streamlined process for sending money. If you plan to send money regularly, it's worth checking out the best international money transfer apps to see how it stacks up.
How to send a transfer with MasterRemit
You can send money online or through the MasterRemit app. The process is straightforward:
- Create an account. Visit the MasterRemit website or download the app and sign up with your name, contact details and country of residence.
- Verify your identity. You'll need to provide documents to verify your identity before you can send your first transfer.
- Enter transfer details. Specify how much you want to send and which country you're sending to.
- Add recipient details. Provide your recipient's full name, address and payout details (e.g. bank account number or mobile wallet info).
- Pay for your transfer. Choose your payment method. From Australia, you can use a bank transfer, credit/debit card, PayID, Apple Pay or Google Pay.
- Track your transfer. MasterRemit will process the transfer once it receives your funds. You can track its progress through your online account or via email updates.
Frequently asked questions
Sources
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Kate Finder
Money expert
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