People all across the world have long struggled with the issue of moving money from one region to another. However, in light of recent global issues, pandemics, and many forms of catastrophes, this topic has grown more prominent than ever. Because of technological advancements, we now have a plethora of platforms available to provide customers with a wide range of financial services including online money transactions. Yet, many features and characteristics are important for customers before starting to use any electronic or online platform. In this regard, in this article, we will review all features and services of Paysend platform.
By reading this article, you will know more and completely about the possibilities of Paysend and can easily answer some specific questions such as: Is Paysend Safe? Do I need Paysend services?
How Paysend Works
Paysend, as one of the fast and reliable platforms for transferring money from one country to another, provides its services to all users who made an account in this platform. At the time of registration in Paysend, users will need to complete some personal information such as email, name, last name, city, country, address, and postal code. By submitting this information, Paysend will send the code to the mobile phone of the users. After submitting the code, users officially will be able to use the money transfer services of Paysend,
But which services and features are we talking about? Paysend is a partner of Mastercard and Visa, this made transactions easier. Users can send money to more than 100 countries by using this platform and the transaction fee is always fixed at 1 pound. Sending money from Paysend to any bank card or account is possible. All users need to start is to follow the registration guidelines and make an account in Paysend. Yet, in the money transaction process, some requirements need to be followed by users of this platform.
There are security requirements before confirming the money transaction. Paysend will send the code to users’ mobile phones for making confirmation of the transactions. Also, the information about the recipient is important and necessary too. Users will need to write the card number, expiry date, name, and last name of the recipient. Should be noted, by filling up the amount and country that you want to send funds to, the Paysend platform will inform you about fees and exchange rates. Generally, as simple as explained above, the paysend money transfer platform works.
How much does it cost to use Paysend?
One of the most important features of any online money transfer system is about fees and money that they charge users for making operations. Paysend provides perfect and competitive exchange rates. Users can find the cheapest price for sending money by using Paysend. There are some fixed prices for transactions from specific countries. For instance, 1 pound is the fixed fee for users from the UK, 1.50 euro is the fixed price for eurozone users and $2 is the fixed price for those who send money from the USA to any country around the world.
The prices for different countries are available on the official website of Paysend. Also, users will be able to see the fees before confirming their money transactions; Paysend platform, according to the amount of money and countries of sender and recipient, will show the fees on the platform before confirmation of the transfer by the users.
Transfer speed
Currently, there are many online platforms available that provide users with money transfer services. There is huge competition among such systems. Paysend is one of the perfect and popular platforms for all customers around the world because of the transfer speed of this service. By this tool, users can make an instant money transfer without losing any time. The money from the sender account will be debited immediately and after some minutes, the recipient will have the money in their account. One of the reasons for the perfect speed of Paysend is the partners such as Visa, Mastercard, and China UnionPay. Should be noted, for some specific countries, the transaction can complete in 3 working days.
How you would send and receive money
The partnership of Paysend with companies such as Visa and Mastercard put new options in front of users of the money transfer platform. Currently, users can make a transaction to their bank accounts too. The necessary action is to click on the “Send” option, write the amount and the recipient details. After that users will need to fill up their bank or card details. By writing the confirmation code that users will get from the platform, the money is ready to be transferred. The details of the Paysend card of the sender and recipient are important too. Yet, as said before, making transitions to the bank accounts available too.
Will my money be secure with Paysend?
Surely, safety and security are other important features for users before they start to use any platform online format. About Paysend, we should say that we are facing one of the most reliable and safe online money transfer systems that is available in the global community. This platform is licensed by the Financial Conduct Authority in the UK. Also, all information in Paysend is guarded perfectly and by the use of PCI DSS level compliance. Additionally, the partners such as Visa and Mastercard added specific security to the platform too. Paysend provides 3D security protection, follows the antifraud protocols, and always has the card protection protocol before any action. We believe by this short paragraph, readers can understand whether Paysend is safe or not. For further information please check out the Paysend review.
Which countries can I send money from via Paysend?
Paysend is one of the active money transfer platforms, supporting more than 100 countries. The list of the countries that are covered by the platform is available on the official website of this platform. Yet, below you can see some of the main countries that currently users are using Paysend for their money transfer operations more than ever.
- Africa: Bangladesh, Kenya, Malawi, Morocco, Mozambique, Nigeria, Rwanda, Senegal, South Africa, Uganda, Zambia, and Zimbabwe.
- Americas: Guatemala.
- Asia: Armenia, China, Ghana, Hong Kong, India, Indonesia, Japan, Kazakhstan, Kyrgyzstan, Malaysia, Mexico, Nepal, Pakistan, Philippines, Russia, Singapore, South Korea, Tajikistan, Tanzania, Thailand, Uzbekistan, and Vietnam.
- Europe: Albania, Andorra, Austria, Azerbaijan, Belarus, Belgium, Bosnia and Herzegovina, Bulgaria, Croatia, Cyprus, Czech Republic, Denmark, Estonia, Finland, France, Georgia, Germany, Greece, Hungary, Iceland, Ireland, Italy, Latvia, Lithuania, Luxembourg, Macedonia, Malta, Moldova, Montenegro, Netherlands, Norway, Poland, San Marino, Portugal, Romania, Slovakia, Slovenia, Spain, Sweden, Switzerland, Ukraine, and United Kingdom.
- Middle East: Israel, Lebanon, Turkey, UAE, and Egypt.
Paysend transfer fees
The good news about using Paysend is that fees are reasonable and cheap. Also, there are no surprises with this platform because users will be able to know about the fees before confirming any transactions. However, some countries have their fees fixed by Paysend and users are always aware of the fees that they will be charged by the platform for the transactions. Some fixed prices are:
- Sending money from Canada: $3
- Sending money from the USA: $2
- Money transactions from the UK: 1 pound
- Transferring money by Paysend from Europe: 1.50 Euro
Paysend exchange rates
Paysend offers competitive and reasonable exchange rates to its users. This platform tries to offer the mid-markets rete. So in this case, the rates will be close to the bank exchange rates. However, the amount of money will affect the exchange rate too. Surely, the huge amount can get better exchange rates. Users can check the exchange rates of Paysend in specific money transactions with this platform.
On what platforms can I use Paysend?
Paysend is available on both website versions on the browser and the specific mobile app of Paysend. The website address is www.paysend.com. Users can download the Paysend mobile app that is available for both Android and iOs devices. The mobile application will allow users to check the rates quickly, make an account, and track the transactions. Working with Paysend is fast and secure.
Pros & cons of Paysend
There are several advantages and disadvantages of Paysend that we mentioned below.
Pros
- Availability of fixed prices and exchange rates according to mid-market rates
- Supports the huge number of countries
- Availability of different payout methods
- Perfect security level and licensed by the UK government
- Easy to use
- Perfect transfer speed
- Availability of 24/7 customer service
Cons
- A long time of verification process
- Users can not cancel any transaction after sending the money
- Sometimes delay in the transaction
Customer support
Another powerful feature of Paysend is its support team. Usually, the support team answers users quickly, and they have knowledge about international money transfers and can find the solutions for issues of any customers with the system, transactions, or Paysend information. Should be noted that customer support of Paysend covers more than 10 languages. Users can contact the support team via one of the following ways:
- Using the live chat that is available on the website
- Using the email form that is available in the contact section of the website
Users can follow Paysend on social media to be aware of the latest updates and news.
Conclusion
There are so many platforms available and offering their money transfer services to users. This made choices hard for users. For sure features such as safety, speed, fees, and availability are important for users before choosing an online money transfer service. We believe this review about Paysend can help you to know more about this money transfer platform and also be sure if Paysend is safe or not.
