About Mint Bank
Mint raised a total of $31.8M over 5 funding rounds. Now they have over 15 investors with the latest one being First Round Capital and Benchmark. Mint uses 2 factor authentication for security that will send a verification code to your mobile.
Can I use Mint for international bank transfers?
It is not possible to transfer money internationally using Mint. They did offer a money sending service for a short period but it is no longer available. Therefore, you will have to use an alternative service such as PayPal, TransferWise or OFX.
How long do transfers take with Mint Bank?
You cannot send money with Mint. However, using a money transfer service the transaction time is in the region of 1-2 days. Some services offer instant transfers without charging a premium fee.
Are there transfer limits?
When using alternative money transfer services you will need to investigate the transfer limit one by one. In most cases, you can increase the transfer limit when you improve the security standing of the account. For example, by sending additional verification documents.
Can I use a Mint Debit card when traveling abroad?
Mint debit cards are not available. However, 3rd party money transfer services offer debit cards that can be used worldwide.
Mint Bank exchange rates and fees
Exchange rate: the exchange rates found at international money transfer services are among the best in the world. The fees are very low or don’t exist at all. Therefore, you will not lose a significant amount of money when converting currency during a transfer.
Transfer fees: the transfer fees are not how money transfer services make profits. Therefore, the fees are very low compared with traditional banks. Whether you are sending small or large sums, you don’t have to worry about excessive fees.
Additional costs: the added costs you will incur at a money transfer service depend on what you are doing. The costs are transparent so you know what you have to pay.
How do Mint Bank transfer fees compare to using a money transfer provider?
Mint does not offer a money transfer service. However, most challenger banks don’t offer the low fees that you will find at money transfer services. Some services charge a small flat fee or a fraction of a percentage.
Mint pros and cons
Pros
Cons
Mint Bank additional products
Take a look at our list of additional products you can use at Mint:
Mobile app: download the mobile app on your Android or iOS device to access your Mint account.
Monitor credit scores: view your credit score from the desktop or mobile app.
Goal setting: track financial performance and set new goals to improve your finances.
Alerts: receive alerts that inform you about financial tips and bills you need to pay.
Summary
Mint has been around for a long time but it does not offer an international money transfer service. The main services include financial management and credit monitoring. It can be used on the desktop or mobile environments.
To send and receive international money transfers, you’ll need to use a 3rd party service. Options like Western Union and Skrill are excellent choices that have low fees and fast transfer times.
