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Profee Review: International Transfers Without Verification
Nowadays, transferring money abroad can be a real ordeal: high fees, long waiting times, and complex verification procedures. But there is a solution that avoids these problems — Profee. Identity verification may still be required when transferring through this app, even for small amounts. All you need to do is register, specify the recipient's details and the transfer amount, and the money will be transferred within a few minutes. In this article, we will examine the benefits and features of the Profee service and help you understand how to use it most effectively to send money from Europe to Ukraine.
Profee in Brief.
Profee
In the 2024 review: — this is an innovative online platform offering fast and secure international money transfers to 65+ countries. In addition, the service provides users with a multi-currency e-wallet and debit card, facilitating holding, sending, and exchanging currency funds.
The platform was created in 2017 by Sibilla Solutions LTD, registered in Cyprus (the company's beneficial owner is unknown). In 2018, Profee received a license from the Central Bank of Cyprus to conduct electronic money operations, becoming one of 23 companies in the country with this authorization. Under regulatory rules, Profee must segregate customer funds from corporate assets, ensuring the ring-fencing of client money; this is not equivalent to bank deposit insurance.
Profee offers a web platform and mobile app (Android and iOS) for card-to-card transactions within the European Union in euros and local currencies, as well as for transfers from Europe to a number of other countries. The key feature of Profee is the ability to carry out international transfers of up to €500 at a time and €1,000 per month. Recipients can freely receive funds without needing to register with Profee. This service is available for various card types, including Visa, MasterCard, and Maestro.
What the Profee mobile app looks like. Source — Google Play
Key Features of Profee.
Money Transfers
In the 2024 review: Profee makes it easy and very fast to transfer money to 65+ countries, including Ukraine. You can send money to a card, bank account, or digital wallet. Transactions are processed almost instantly, and the transfer fee depends on the chosen method and transfer amount. Notably, Profee almost always runs a promotion where the service waives the fee on your first transfer to any country. You can check the cost of a transfer using a dedicated calculator.
Profee official website. Source — profee.com
Multi-Currency Wallet
This is a convenient tool for holding, sending, and converting currencies within a single service. It allows users to manage their finances in different currencies, which is especially useful for those who frequently make international transfers or deal with foreign exchange. You can easily transfer money between currency wallets inside Profee with zero fees and convert currencies at competitive rates.
Visa Payment Card
Profee also offers a payment card that you can use to pay for goods and services anywhere in the world. The platform supports multiple currencies, helping you avoid extra conversion charges. Both virtual and plastic cards are available. They can also be linked to Apple Pay and Google Pay payment systems.
Transfers to Ukraine via Profee.
Creating a new Profee account is unavailable for residents of Ukraine, as are transfers from Ukrainian cards or bank accounts abroad. However, this does not prevent using Profee for money transfers to Ukraine, since the recipient does not need to register in the app to receive money.
You can make a transfer to Ukraine using the following methods:
Standard Transfer:
A European bank card is required to make a transfer. The transaction is carried out instantly. The cost depends on the card issuer (EEA and UK, other countries), card type (Visa and Mastercard), and currencies. Based on rates from the 2024 review: this is usually €1/$1/£ plus a 0.5–3% fee. Profee also offers fee-free internal transfers, but this is only available to EU citizens for transactions within the Eurozone.
To a Bank Account:
In 2022, the platform added the ability to send money to EEA countries to an IBAN bank account number via the SEPA system. For now, this option is unavailable for Ukraine, but such transfers may soon become available for Ukrainian banks (as some of Profee's competitors, such as ZEN.COM, have done).
SWIFT Transfers:
Profee does not offer this service to its customers, viewing it as outdated, expensive, and very slow.
Profee Fees and Limits.
Fees at Profee depend on the chosen transfer method, the recipient's card type, and the transfer amount. Based on rates from the 2024 review: you will usually pay a small fee for each transfer of 1 euro, 1 US dollar, 1 pound sterling (or equivalent), depending on where you are sending money from and to. Based on rates from the 2024 review: in addition, a fee for multi-currency transfers will be charged — from 0.5% to 3% of the total transfer amount, depending on the sender's and recipient's countries.
Profee fees. Source — profee.com
Profee has certain limits on financial transactions that correlate with the user's account verification level and the chosen transaction method. To expand their profile limits, users must submit additional documents in accordance with European Union standards. Such documents may include identity document photos and proof of address. These procedures aim to ensure transaction security and compliance with international anti-money laundering regulations.
Profee limits. Source — profee.com
Conclusion.
Profee is a convenient service for international money transfers with identity verification according to service requirements. The app offers competitive fees and a modest selection of transfer methods, including transfers to bank accounts, cards, and digital wallets. However, one should note that Profee's ownership structure is somewhat opaque and there are limits for unverified customers. Nevertheless, overall Profee is an excellent choice for those looking for a fast and convenient way to transfer money from Eurozone countries to Ukraine.