Profee review
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- Fastest Transfer Speed
- Within minutes
- Minimum Transfer Amount
- €1
- Maximum Transfer Amount
- €15,000
What is Profee?
Profee is an international money transfer service that allows you to send money from Europe or the UK to over 50 countries around the world. Founded in 2017, Profee offers a card-to-card transfer service and supports more than 30 currencies.
When you open a multi-currency wallet with Profee, you can access a physical as well as digital card to make purchases in-store and online. You can also send international transfers from Visa, MasterCard or Maestro cards that are issued in the European Union or the UK. Google Pay and Apple Pay are also available, while direct crediting to EU bank accounts is supported too.
The amount you can send varies depending on your account level — Basic, Plus or Premium. To access a higher transfer limit, you’ll need to provide additional information and documentation as outlined in the table below.
| Basic | Plus | Premium | |
|---|---|---|---|
| Transfer limit | Overall limit of €1,000 | Annual limit of €15,000 | Annual limit of €100,000 |
| Required info |
| Same info as Basic as well as:
| Same info/documentation as Plus as well as:
|
Pros and cons
Pros
- Competitive exchange rates. Profee adds a markup to the mid-market exchange rate, but we generally found the rate offered by Profee to be quite competitive across a range of currencies.
- Easy to use. It’s quick and easy to transfer money from your Profee wallet — check out the step-by-step instructions further down the page.
- Send money to 50+ countries. From Armenia to Uruguay, you can use Profee to send money to 56 countries around the world.
- Fast transfers. Send an international transfer with Profee and your recipient will get the money you send within minutes.
Cons
- Withdrawal fees. You’ll be charged a fee if you withdraw funds from your Profee wallet to a bank card or via wire transfer.
- Other fees. It’s worth checking Profee’s User Agreement for other fees that may apply, such as a dormancy fee on inactive accounts and a wallet closing fee.
- Not the mid-market rate. Unlike some transfer companies, Profee does not offer the mid-market rate on international transfers.
- USD not supported. If you want to send money to the USA, you’ll need to consider other providers.
How much are Profee’s international transfer fees?
According to the FAQ section on Profee’s website, the maximum fee charged per transaction is 1 EUR, 1 USD, 1 GBP or 85 RUB (or equivalent) depending on where you are sending money from and to. You can review the fee and exchange rate that will apply to your transaction before submitting payment.
How much are Profee’s exchange rates?
Like most money transfer companies, Profee charges a markup on the real-time market rate. However, during our research we found that Profee’s rates were generally competitive, commonly falling in the 1-1.5% range.
Take a look at the table below to see the markup that applied when we checked Profee’s exchange rates in March 2023.
| Currency | Mid-market rate | Profee exchange rate | Markup |
|---|---|---|---|
| EUR/AUD | 1 EUR = 1.59 AUD | 1 EUR = 1.58 AUD | 0.63% |
| EUR/CAD | 1 EUR = 1.45 CAD | 1 EUR = 1.43 CAD | 1.38% |
| EUR/INR | 1 EUR = 87.74 INR | 1 EUR = 86.83 INR | 1.04% |
| EUR/SGD | 1 EUR = 1.43 SGD | 1 EUR = 1.41 SGD | 1.40% |
| EUR/GBP | 1 EUR = 0.88 GBP | 1 EUR = 0.86 GBP | 2.27% |
| EUR/NZD | 1 EUR = 1.71 NZD | 1 EUR = 1.69 NZD | 1.17% |
| EUR/RUB | 1 EUR = 81.21 RUB | 1 EUR = 78.93 RUB | 2.81% |
* Data gathered 17/03/2023
Is Profee safe to use?
Profee is a trade name of Sibilla Solutions Ltd, which is registered in Cyprus and regulated as an electronic money institution by the Central Bank of Cyprus. It also offers all the usual security measures you’d expect to find from a reputable transfer service.
For example, all customer money is held in segregated safeguarding accounts that are kept separate from the company’s own business accounts. Profee says it uses Tier4 data centres to ensure the protection of customer data, while features like two-factor authentication provide an extra layer of security.
Profee also has an average customer rating of 4.7/5 from over 1,000 Trustpilot reviews.
How long does an international transfer take?
Profee says that the money you send will usually reach your recipient’s card within three minutes. However, due to the regulations of some banks, in some cases it may take up to one business day for your payment to be processed.
Transfers typically take
within minutes
How to send money with Profee
If you want to send an international transfer with Profee, here’s what you need to do:
- Download the Profee app. Download the app from Google Play or Apple’s App Store and sign up for an account. You’ll need to provide your personal details, proof of ID and proof of your address.
- Enter your transfer amount. Select the amount and currency you want to transfer, and the country you’ll be sending to.
- Add your recipient. Next, enter your card details to fund the transfer and provide your recipient’s card details.
- Send your transfer. The money will be transferred to your recipient within minutes.
Transfer app features + ratings
You can use the Profee app to send international transfers and receive domestic and international payments. The app also allows you to save transfer details, view your history of past transactions, and upgrade your account to a higher plan. You can access in-app chat if you need help with a transfer, and the app is also compatible with Apple Pay and Google Pay.
Unfortunately, as Profee is a relatively new arrival on the international transfer scene, its app has limited reviews. It has over 50,000 downloads but no reviews on Google Play, and an average 5/5 rating from two reviews on Apple’s App Store.
Our verdict
Profee is well worth checking out if you’re searching for a convenient way to send money overseas. It offers low fees, competitive exchange rates, and the ability to send transfers to dozens of countries within minutes. However, make sure you’re aware of any fees that apply to your account, and compare exchange rates from a range of money transfer providers to find the best value.
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Tim Finder
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