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Founded in 2017, Profee is an international money transfer website. They offer card-to-card transfers from the UK and Europe to over 50 countries, in 41 currencies. With headquarters in Nicosia, Cyprus, Profee boasts new technology that makes it easy to make international money transfers.
We’ve taken a comprehensive look at the services Profee offer, comparing them on everything from their fees to accessibility. Find out if they’re the best service for your money transfers in 2024.
Fees and rates
Profee offers fee-free transfers to other Profee users, but sending money elsewhere incurs a fee of up to 4.5%, and there's a modest markup added to the exchange rate.
Transfer speed
Transfer limits
Product offering
Ease of use
Safety and trust
Customer feedback
Overall
Fast transfers (max one day)
Zero transfer fees to other Profee users
Competitive exchange rates
Low transfer limits
Only available to users in the UK and Europe
Many currencies are not supported
Fees and exchange rates
P2P payments to other Profee users are free, but transfers elsewhere come with a fee. The markup on currency exchanges is 0.5%
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Profee doesn’t usually charge you up-front costs if you’re transferring to other Profee users. But you might pay more for certain payment methods and currency pairs. Profee makes their money by adding a markup of 0.5% to the mid-market exchange rate (MMR), but still manages to keep their pricing competitive compared with other providers.
Transfer fees
On their website, one of the main selling points of Profee is their 0% transfer fees. A second look reveals that this is only true if you’re transferring to other Profee users. If you’re sending elsewhere, fees can vary from 0% to 4.5%, depending on the amount, currency pair, payment method, and countries you’re sending between.
The maximum fee charged per transaction is 1 USD, 1 EUR, 1 GBP, or equivalent. Generally, less frequently traded currency pairs come with higher fees.
Exchange rates
Profee claims the ‘best exchange rate’ for their users, and even has an easy to understand exchange rate calculator on their homepage, though they’re not particularly transparent about the 0.5% markup they’ve added to the mid-market rate.
Even with this, their costs remain comparatively low, keeping them competitive among providers like Wise, who do not add a markup at all.
Speed of transfers
Transactions are processed quickly, with most payments cleared in minutes.
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One of the main selling points of Profee is how fast their service is; they pride themselves on sending most payments within minutes. Similar to its rates though, this is dependent on the countries you’re sending between and how much you’re trying to send.
Profee states that the maximum time for a payment to clear is one day, which is still on the faster end of providers, on par with companies like Global66 and PassTo.
Transfer limits
A poor show overall, with a measly €1,000 limit on transfers for the Basic account holders.
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If you’re trying to move large amounts of money, your options are fairly limited with Profee. They offer a tiered membership system - Basic, Plus, and Premium. Unfortunately, even their Premium membership has a lower-than average transfer limit, and asks for lots of extra documentation to access it.
The basic plan just wants your general information and contact details during signup, but has an overall transfer limit of only €1,000. Their Plus membership allows an annual limit of €15,000 and asks for both proof of identity and proof of residency. The final level is their premium membership, which asks for proof of income on top of the other documents and has an annual limit of €100,000.
Product offering
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Profee’s website makes sure to highlight their high-tech easy to use system, so it makes sense that their payment options are varied. They support transfers via Vis, Mastercard and Maestro cards, as well as Apple Pay and Google Pay.
The bad news is, most of their other services are fairly limited. Profee offers international transfers from the UK and Europe to over 50 countries worldwide in 41 currencies, which is on the lower end compared with other providers like Remitly and XE.
Notably, because Profee only lets you transfer from the UK and Europe, it’s completely useless if you want to send money abroad from anywhere else, such as the US.
Additional features
In addition to their money transfer services, Profee offers a Visa debit card card and a mobile wallet at no additional cost.
Ease of use
The app is easy to navigate and processing payments is simple, but issues with verification have been reported.
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Although Profee prides itself on a quick, easy to use service, many customers have reported issues. In some cases, ID documentation has been stuck pending approval without explanation. Other reports, however, are much more positive, giving Profee a high rating for their smooth, fast and easy to use service.
To their credit, the customer support team at Profee does seem to seek out negative reviews and work to resolve the individual issues. But that doesn’t necessarily make up for the frequency of issues reported, nor does it seem to prevent the problems from happening again.
Customer service
Profee customer service is readily available and pushed at any opportunity. If your issue isn’t solved in the FAQ section of their website, their other contact details are easy to find and fairly comprehensive. Their customer support email address is pushed every time there is an error on the site, though some customer reviews do report that the response is slow or ineffective.
For a faster response, they have a customer care chat in the corner of their website, but that only seems to show up once you have created an account.
How to reach Profee:
Email: [email protected]
Operating address: 27, Pindarou Street, Alpha Business Centre, Block B 7th Floor, 1060 Nicosia, Cyprus
Phone: +357 22 000 253
Safety and trust
Security is taken very seriously, but the youth of the company and lack of fee transparency marks it down.
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Founded in 2017, Profee is still a small company that is fairly new to the transfer market. This may be cause for concern, but Profee has a comprehensive set of security measures in place.
Profee is regulated by the central bank of Cyprus, and provides secure servers for their transactions. They’re also PCI DSS Level 1 Service Provider certified, which ensures the security of card data according to international standards.
Their fee structure isn’t as transparent as it could be, so watch out for hidden charges. The website isn’t always clear on the markup or transfer fees between non-Profee users.
You should only ever use regulated providers to transfer money. If a provider is not regulated, it’s likely to be a scam.
Remember: We will only ever recommend regulated financial institutions.
Customer feedback
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There are almost 2,500 reviews for Profee on Trustpilot, averaging at 4.6 stars, an ‘excellent’ score by the website’s standards. 86% of the ratings are 5 stars, citing speed, reliability and good conversion rate as reasons to use the provider.
The more negative reviews tend to be one star ratings, with people reporting their transfers getting cancelled without explanation, their documentation not being approved, and poor customer service when these issues arise.
On Google Play and the App Store, Profee scored 3.1 and 4.7 stars respectively, with satisfied customers citing a fast and reasonably priced service, though similar technical issues and delays on transfers were also mentioned.
How to sign up for Profee
Click our link to visit the Profee website
Create a free account
Enter your transfer details
Start the transfer
Profee - Fast service and competitive prices for low value transfers
Our review of Profee falls at a slightly below average score compared with other providers. Although it scores highly on speed of transfers, exchange rates, and fees, it falls down on transfer limits and its small product offering. Safety and trust are also below average scores.
Ultimately, Profee is a good option if you want to transfer small amounts of money from the UK or Europe. If you do happen to fall into that category, it offers a fast and reasonably priced service for your transfers.
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