Our OrbitRemit review is intended to explain the pros and cons of using it for our reader’s money transfer needs. We focus on the important aspects like fees and exchange rates, the quality of the online trading platform, and the level of service provided. To view other companies similar to OrbitRemit, check our full list of providers.
|🌎 International Clients||✓ Accepted
|💱 Currencies Offered||21|
|💷 Minimum Transfer||£50 / AU$50 / NZ$50|
|📲 Trading via||Online Platform|
|🏢 Offices In||New Zealand, Australia, and the United Kingdom|
|⚖️ Regulation||✓ ASIC (Australian Securities and Investments Commission)
✓ FIU (Financial Intelligence Unit)
✓ FCA (Financial Conduct Authority)
|🤯 Fees||OrbitRemit does not disclose its fee formula. These levies are low but vary by country. OrbitRemit waives fees on your first transaction, and every tenth thereafter.|
|Promotional Code||TRGO10 – Free transfer, plus 10 GBP bonus|
|👨👩👧👦 Client Reviews
||Over 19,000 reviews on Trustpilot.com|
|⭐ Client Rating||9.3/10 on Trustpilot|
|👍 Advantages||Clients can send cash to 131 countries
A money-back guarantee protects senders against botched transfers
Better rates than competitors on several routes
Attractive website, and strong mobile app
Transparent Rates and Fees
|👎 Disadvantages||High Absolute Fees per Transfer
Inapt for high value transfers
Limited to only customers from North America
Complaints about excessive KYC for smaller transfers
Customer service lacks a live chat option
Company Information and Credibility
Founded in 2009, OrbitRemit is a money transfer service based in Wellington, New Zealand. They have 40 employees spread across three offices (Wellington, NZ; Sydney, AU; London, UK), and according to news reports, were approaching 1 billion NZD/month in transfers in 2018.
CEO Robbie Sampson, David Platt, Paul Robinson, and Tommy Heptinstall raised 1 million NZD to start OrbitRemit back in 2009. Since then, they haven’t needed any additional venture funding to grow their business.
Their hard work has paid off. In addition to reaching the milestone mentioned above, OrbitRemit managed to crack the Deloitte Asia Pacific Technology Fast 500 index in 2017. They have also gained acceptance from fellow New Zealanders. They were voted top online business in Wellington in 2018, and are one of four payment options accepted by New Zealand Inland Revenue.
ASIC (Australian Securities and Investments Commission), FIU (Financial Intelligence Unit – New Zealand), FCA (Financial Conduct Authority).
Orbit Remit has enjoyed tremendous success in the past decade. Despite remaining a small company, they have grown their business to the point where they’re gaining international accolades. With only 40 staffers in three countries, that’s no small feat.
OrbitRemit has been reviewed extensively on Trustpilot. Over 19,000 customers have left reviews, the vast majority of them positive. Only 2% of reviewers had a poor or bad experience.
Most customers using OrbitRemit do so without issue. However, the onboarding process for new customers is a bit involved, which annoyed some. Overall, though, the majority of Orbit’s customers are pleased with their low rates, slick interface, and responsive customer service
Exchange Rate & Fees
OrbitRemit does not disclose how they calculate rates. They vary by country but are lower than what banks and Western Union charge. A customer’s first transfer with OrbitRemit is free, as well as every tenth transaction thereafter.
We have tried to look at the formula ourselves on May 22, 2019 on GBP to AUD transfers.
This was the official exchange rate:
And this was what was offered on Orbit Remit’s website:
The grand total of fees and exchange rate markup was 2%. This is far better than most remittances providers, but worse than what you could get with companies like HiFX, Global Reach, XE or Moneycorp.
OrbitRemit has a minimum transfer amount of 50 NZD. Maximum transfer amounts vary by country – check out their FAQ page for details.
OrbitRemit could be more transparent about how they calculate fees by showing the exchange rate markup, and simply be cheaper for larger transactions, but overall it offers fair fees and exchange rates for remittance purposes.
Global Reach & Service
- Dedicated Dealer: No
- Offices: NZ, AU, UK
- Ways to approach: Phone, e-mail
- Translations: English only
- Accepts clients: Three countries (New Zealand, Australia, United Kingdom)
- Currencies Handled: 21
- Client reviews: 9.3/10 on TrustPilot.com
OrbitRemit has become tremendously successful in just ten years of existence. They have done this by keeping their focus narrow – as a result, they only accept clients in New Zealand, Australia, and the UK. They also only trade in a narrow range of currencies – those used by major migrant groups in NZ, AU, and the UK – and global reserve currencies like EUR and USD.
There is room for improvement in a couple of areas. If they speak languages other than English, they don’t specify it on their website. Also, contact information, while available, is not easy to find. You can reach OrbitRemit via phone or e-mail, but you won’t find either on their homepage or in their FAQ. We were only able to find numbers and e-mail addresses via a Google search.
Orbit Remit offers more than just money transfer. This business also provides the following functions:
– Tax payments to the New Zealand Inland Revenue Department
– Payment of fines to the New Zealand Ministry of Justice
– Remittance of Work and Income payments to the New Zealand Ministry of Social Development
People don’t just send money to friends and family overseas using OrbitRemit. They also use this service to settle debts with the New Zealand government. This service is of great use for businesspeople and those who habitually send money overseas to loved ones.
OrbitRemit does one thing well – helping people transfer money to loved ones and business contacts overseas. By allowing customers to pay government bills online, it makes their lives much more manageable.
Orbit Remit Money Transfer Review Summary
- Credibility Score – 85%
- Client Feedback Score – 97%
- Fees and Exchange Rates – 73%
- Global Reach, Availability – 65%
- Added Values Score – 70%
Orbit Remit is a great provider for remittances with relatively low fees, great feedback, inviting website and app, and a spotless reputation. Definitely worth a try if you need to transfer small amounts on a regular basis.