PROFEE: For once, the most beneficial money transfer service has been found!

Profee has been recognized as the fastest-growing money transfer service in Europe, according to Global Banking & Finance Review, a leading financial magazine. As an EU-licensed and fully regulated Electronic Money Institution (EMI), Profee is supervised by the Central Bank of the Republic of Cyprus. Visit www.profee.com or download the app from Google Play or the Apple Store

Do you know how much money Indians in the UK lose each year on money transfers home? Millions and millions! And the only reason is that many do not know how to do it in a smart way, so they keep on paying ridiculously high fees to traditional banks and remittance services. But no more! To take advantage of new technology and save the hard-earned money, look no further than Profee, an online money transfer service.

First, what options are there for Indians working in the UK to send money overseas, including home?

• Cash. Perhaps the most obvious, and surely the oldest way to transfer money to another country is sending cash with someone who is travelling appropriately. However, it is also the slowest (add to the duration of the trip the time needed for the cash to change hands on both ends), rather expensive (most probably, the courier needs a remuneration), and not particularly safe even if your courier is a trusted person. Luckily, the times when this was the only available option have long gone.
• Wire transfer. Until recently, this was one of the most popular channels for international money remittance. Sending money via bank is surely safe but is it fast? Not really, as bank transfer processing can take days or even weeks. Is it cheap? It is definitely not the cheapest option available today. Plus, there might be numerous, and sometimes quite substantial hidden fees which transpire only when the transfer has already been delivered.
• Cryptocurrency. The demand for cryptocurrencies as a vehicle to move money across boards has been steadily growing in recent years. Nevertheless, it largely remains an option for the ‘chosen ones’ with advanced skills and knowledge about the crypto market’s operations. Moreover, those skills and knowledge are required on both the sending and the receiving sides of an international payment, which excludes, for example, many elderly people who might rely on their children supporting them financially from abroad. Thankfully, today money transfers do not have to be that complicated.
• Money remittance services. One of ‘traditional’ methods which has been radically transformed to embrace the latest technology. What in the past was a kiosk where you had to bring cash to, perform an impressive amount of paperwork, and then pay a small fortune in fees for your money to be sent to a recipient abroad, is nowadays an… app. Online money transfer services are the simplest, fastest, cheapest, and most convenient solution for sending money overseas. With the right provider, of course, such as Profee.

Choosing your provider

There are dozens of money transfer services on the market. Keep the following in mind when choosing the one suitable for your needs:

• Credentials. To avoid fraud, always verify the legitimacy of the provider first: its registration with the supervising authority, licences, industry certifications, and so on. With proper services this information is easily located (usually on their website) and crosschecked. Turning to user review platforms also helps.
• Registration process. Legitimate online money transfer services are strictly regulated and by law required to know certain basic information about their customers such as their phone number, full name, date of birth, and such. However, for larger amounts the sender has to prove their identity, address, and sources of income. The difference is that while some providers keep it simple and would only ask for additional details once certain limits are reached, others demand all of it when signing up, that is, even before the service is used.
• Fees and charges. Commonly, there are two types of fees attached to a money transfer. One is a fixed fee, that is the amount you pay per transaction regardless of how much you send. The other is a flexible fee which is a share of the amount sent. Besides these, providers also profit from foreign exchange for multicurrency transfers. Their margin is included in the money transfer charges from the UK to India, for example, where pounds are converted into rupees. What matters is the overall charge comprising these three elements.
• Ease of use. There is a growing number of providers that offer other features in addition to money transfers, such as cards, tiered subscription plans, and even investment tools. So, ask yourself whether you need all those around a simple money transfer transaction.

Profee – Easy way to send money to India

How to send international transfers

The fastest growing money transfer service in Europe according to Global Banking & Finance Review, an influential financial magazine, is Profee. It is an EU-licensed and fully regulated Electronic Money Institution (EMI) which is supervised by the Central Bank of the Republic of Cyprus and implements all industry standards and regulations including the GDPR, PCI DSS, 3DS, and so on. On Trustpilot, a popular user review platform, Profee has over 3,000 reviews with an ‘Excellent’ rating of 4.4/5.

The service allows users to instantly send money from the countries of the European Economic Area to over 60 destinations globally, including online money transfers from the UK to India. A state-of-the-art solution, Profee uses a unique monitoring system to ensure its customers get the most competitive currency exchange rates on the market.

What do you need to send money via Profee? Only a bank card issued by a European bank and a smartphone with a European phone number. Available as a web-based service and an iOS/Android app, signing up with Profee and sending your first transfer only takes a couple of minutes. Here is how it works:

1. Go to www.profee.com or download the app from Google Play or the Apple Store.
2. Verify your phone number and provide basic personal details such as your full name, mailing address, and email.
3. To send a transfer, select the UK as your home country in Europe, enter the amount you want to transfer, and select the destination. In the converter, you will immediately see the final amount your recipient gets with no hidden fees.
4. Provide the recipient’s full name and bank card number and your payment details (either a bank card, Sofort, Apple Pay, or Google Pay).
5. Confirm the information entered is correct and tap ‘Send’. The money will be deposited to the recipient’s card within minutes.

As you can see, sending money with Profee is simple, profitable, and convenient which truly makes it the most beneficial money transfer service for Indians in the UK.