Based on looking at the website, Profee.com appears to be a legitimate and well-regarded online money transfer service designed to facilitate international remittances.
The platform highlights its speed, competitive exchange rates, and user-friendly interface, aiming to make sending money overseas as straightforward and beneficial as possible.
It positions itself as a reliable option for individuals looking to support family and friends across borders, emphasizing transparency with no hidden fees and a focus on security through various certifications and protocols.
Profee seems to cater to a broad audience, offering transfers to over 60 countries and emphasizing ease of use for both senders and recipients.
The site boasts industry recognition and positive client testimonials, suggesting a strong reputation within the fintech space.
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This review will dive deeper into Profee’s key features, security measures, customer support, and overall value proposition, helping you determine if it’s the right choice for your international money transfer needs.
Find detailed reviews on Trustpilot, Reddit, and BBB.org.
IMPORTANT: We have not personally tested this company’s services. This review is based solely on information provided by the company on their website. For independent, verified user experiences, please refer to trusted sources such as Trustpilot, Reddit, and BBB.org.
Understanding Profee’s Core Offering: International Money Transfers
Profee’s primary service revolves around facilitating fast and secure international money transfers.
They aim to simplify a process that has historically been complex and costly, leveraging technology to provide a more efficient solution. This isn’t just about moving money.
It’s about enabling support for loved ones across geographical divides, ensuring funds arrive quickly and affordably.
The Mechanism of Transfer
Profee operates as an Electronic Money Institution EMI, regulated by financial authorities in its operational regions.
For EU residents, services are provided by Sibilla Solutions LTD, regulated by the Central Bank of Cyprus. Armastrasmediterranea.com Reviews
For UK residents, Paymentz Ltd, licensed by the FCA, handles services.
This regulatory oversight is crucial, ensuring compliance with established financial standards and consumer protection.
Users typically fund transfers via bank cards, and recipients can receive funds directly into their bank accounts, often within minutes for a significant percentage of transfers.
Supported Countries and Currencies
A critical aspect of any money transfer service is its global reach. Profee proudly states it supports transfers to 60+ countries, which is a substantial network. This includes popular corridors like India, Uzbekistan, Kyrgyzstan, Tajikistan, Kenya, Nigeria, Philippines, Brazil, and Pakistan, among many others across Europe, Asia, Africa, and North America. This wide array of supported nations makes Profee a versatile option for individuals sending money to diverse locations. The platform aims to offer beneficial exchange rates for these currency conversions, a key factor in maximizing the value of each transfer.
The Profee Advantage: Speed, Rates, and Transparency
When choosing a money transfer service, three factors consistently rise to the top: how fast the money arrives, how much it costs including exchange rates, and how transparent the process is. Affordablemobiles.co.uk Reviews
Profee appears to tackle these head-on, aiming to differentiate itself by excelling in these areas.
Rapid Transfer Speeds
Profee claims that “For more than 90% of our transfers, the money is credited to the bank account within minutes.” This is a significant claim, as instant or near-instant transfers are a major convenience for both senders and recipients, especially in urgent situations. Traditional bank transfers can take days, while some other online services might still have processing times. This emphasis on speed is a core pillar of Profee’s value proposition, directly addressing a common pain point in international remittances.
Competitive Exchange Rates and Fees
The website prominently features “Beneficial exchange rate” and “No hidden fees” as key selling points. Furthermore, it highlights a “no fee for your first transfer excluding some receiving options” incentive. Competitive exchange rates mean that more of the sender’s money converts into the recipient’s local currency, increasing the actual value received. The absence of hidden fees fosters trust and allows users to clearly understand the total cost upfront. This transparency, coupled with favorable rates, aims to make Profee a cost-effective choice for users.
Transparency in Pricing
Profee states that “all needed data is visible like fees which is positive being transparent.” This suggests that the platform provides a clear breakdown of exchange rates and any applicable fees before the transfer is confirmed.
Transparency in pricing is vital in the financial services sector, as it allows users to make informed decisions and avoids unpleasant surprises. Anotherzero.com Reviews
This commitment to clear pricing helps build confidence in the service.
Security Measures and Regulatory Compliance
Profee makes strong assertions about the safety and security of its services, emphasizing compliance with international standards and robust protective measures.
This instills confidence, especially when dealing with cross-border money movement.
PCI DSS Certification and EU Standards
Profee proudly states it is PCI DSS certified and that it “comply with EU standards & update our certificates annually.”
- PCI DSS Payment Card Industry Data Security Standard is a global standard for organizations that handle branded credit cards from the major card schemes. Compliance means Profee adheres to strict security protocols for handling sensitive cardholder data, reducing the risk of fraud and data breaches.
- Compliance with EU standards implies adherence to stringent regulatory frameworks governing financial services, data protection like GDPR, and consumer rights within the European Union. Annual updates to certificates demonstrate an ongoing commitment to maintaining these high security benchmarks.
Data Center Security and 2-Step Verification
The website mentions using a “Tier4 Data Center” to ensure “the highest level of protection for your data.” A Tier 4 data center is the most robust and fault-tolerant type, designed for maximum uptime and resilience against failures. This physical and infrastructure security is crucial for protecting sensitive user information and transaction data.
Additionally, Profee implements “2-step verification” also known as two-factor authentication or 2FA. This means that beyond a password, users are required to provide a second form of verification e.g., an SMS code to their phone when logging in. This significantly enhances account security, making it much harder for unauthorized individuals to gain access, even if they somehow obtain a user’s password. Parcel2go.com Reviews
3DS Security for Online Payments
Profee utilizes “3DS security” to “mitigate fraud risks for your online payments.” 3DS 3-D Secure is a security protocol designed to provide an additional layer of security for online credit and debit card transactions. It works by authenticating the cardholder during the payment process, often through a password or a one-time code sent to their mobile device. This helps protect users from unauthorized transactions and reduces chargebacks for the service provider, creating a safer environment for both parties.
User Experience: Website, Mobile App, and Ease of Use
A money transfer service, no matter how efficient, needs to be user-friendly to gain widespread adoption.
Profee emphasizes simplicity and accessibility through its platform design and mobile application.
Streamlined Account Creation and Transfer Process
Profee claims that “Creating an account & sending money for the first time will take just a few minutes.” This focus on a quick onboarding process is vital for attracting new users who might be deterred by complex or lengthy sign-up procedures.
The website highlights that the process is “simple,” which is a key appeal for those who may not be tech-savvy or who value efficiency above all else. Bullmarkets.com Reviews
The intuitive interface helps users navigate the steps from inputting recipient details to confirming the transfer without unnecessary hurdles.
Mobile App for On-the-Go Transfers
Profee offers a dedicated mobile app, stating users can “Get the Profee mobile app to send seamless transfers anytime, and to any of 60+ countries.” The app allows users to “log in to your account via our website or mobile app to send money, check the transfer history, and more.” This flexibility caters to users who prefer managing their finances on their smartphones, providing convenience and accessibility whether they’re at home or on the move.
The ability to scan a QR code for download further simplifies the app acquisition process.
Recipient Simplicity
A unique selling point Profee highlights is that “Your friends & family Do not need to sign up to get the money.” This is a significant advantage, especially for recipients who may not have internet access, a smartphone, or simply prefer not to deal with creating new accounts.
This removes a potential barrier to receiving funds, making the overall process smoother and more accessible for a wider range of individuals, particularly in regions where digital literacy or access might be limited. Cotswoldco.com Reviews
They simply need to provide their account details to the sender, and the money arrives directly.
Customer Support and Client Testimonials
The true measure of a service often lies in its customer support and the experiences of its users.
Profee addresses both these aspects on its homepage, aiming to build trust and demonstrate reliability.
Multilingual Customer Support
Profee understands that its user base is international, and effective communication is key.
The website states, “Profee support specialists speak many languages and will help you with any question you may have.” This multilingual support is critical for an international money transfer service, as it ensures users can receive assistance in their native language, minimizing misunderstandings and enhancing the overall support experience. Wickentoys.co.uk Reviews
Support is available via “in-app chat, at [email protected] or call at +357 22 000 253,” operating “from 9:00 till 22:00 UTC+03:00 seven days a week.” This wide availability and multiple contact channels indicate a strong commitment to customer service.
Industry Recognition and Awards
To bolster its credibility, Profee showcases several industry awards and recognitions:
- Best Global Remittance Company 2023
- Best International Money Transfer Solution 2024
- Fastest growing Money Transfer platform in Europe
- Best Client-Orientated Fintech Company 2023
- One of Cyprus top 10 startups 2023
These accolades, if verified, serve as strong third-party validation of Profee’s performance and innovation within the fintech sector.
They suggest that industry experts recognize Profee’s efforts in providing efficient, customer-focused, and rapidly expanding services.
Positive Client Testimonials
The Profee website features numerous client testimonials, which are crucial for social proof. Reviews from users like Lyan, Anil Paravada, Sreenu Gomasu, Lisa, Rove, and Narsareddy Baddam highlight various aspects: Dahabshiil.com Reviews
- Ease of use: “Very nice app & service! The app is easy to use with intuitive interface…” Lyan
- Competitive rates: “The exchange rate is very good!” Lyan, “Competitive Conversion Rates: I found it worth comparing with other apps.” Anil Paravada, “Best exchange rate compared to other companies, quick transfers, and zero transfer fees.” Rove
- Fast transactions: “the transfers are fast,” Lyan “My transfers were processed quickly with processing times.” Anil Paravada “Instant payments, safe and secure.” Sreenu Gomasu “possible to send money so quickly” Lisa
- Customer support: “The customer support team at Profee is very helpful & responsive.” Lyan
- Security: “Safe: I feel confident in using.” Anil Paravada “safe and secure.” Sreenu Gomasu
These consistent themes across multiple reviews paint a positive picture of user satisfaction and reinforce the company’s stated strengths.
Referral Program and Community Building
Beyond just offering a service, Profee seems to be actively engaging its user base through a referral program, which can foster loyalty and expand its reach organically.
“Invite and Earn” Incentive
Profee features a referral program with the slogan “Earn with Profee Refer our service to your friends, get rewarded when they start sending money to India, Uzbekistan, Kyrgyzstan, Tajikistan, Kenya, Nigeria, Philippines, Brazil, Pakistan.” This type of program is a common marketing strategy, incentivizing existing users to promote the service to their network.
By focusing on specific high-traffic corridors for rewards, Profee strategically targets its growth in key markets.
This not only helps acquire new customers but also builds a sense of community around the brand, as users become advocates for a service they presumably find valuable. Ruislipwindows.co.uk Reviews
Fostering a Network Effect
A successful referral program can create a powerful network effect.
As more users join through referrals, the service gains traction, and its perceived value increases.
This can lead to a virtuous cycle where positive word-of-mouth contributes significantly to growth.
For users, the opportunity to earn rewards simply by sharing a positive experience adds tangible value, making them more likely to continue using and recommending Profee.
This also helps Profee reduce its customer acquisition costs compared to traditional advertising. Activeaway.com Reviews
Regulatory Framework and Legal Information
Understanding the legal and regulatory standing of a financial service is crucial for user confidence.
Profee provides clear information regarding its regulation and corporate structure.
Regulated as an Electronic Money Institution EMI
Profee operates under the legal entity Sibilla Solutions LTD, which is “registered in Cyprus Registration No. HE348581” and “regulated as an Electronic Money Institution EMI by the Central Bank of Cyprus License No. 115.1.3.16/2018, VAT СY10348581D.” This designation as an EMI means that Profee is authorized to issue electronic money and provide payment services. Being regulated by a central bank in this case, the Central Bank of Cyprus signifies that the company adheres to strict financial regulations, including capital requirements, anti-money laundering AML protocols, and consumer protection measures. This provides a significant layer of security and legitimacy for users within the EU.
UK Operations and FCA Licensing
For UK residents, Profee’s services are provided by Paymentz Ltd, which is “incorporated in the United Kingdom Company No. 12431685 and is licensed by the Financial Conduct Authority FCA under the Payment Institution regulations License Nо. 924263.” The Financial Conduct Authority FCA is one of the most respected financial regulators globally. Being licensed by the FCA as a Payment Institution means Paymentz Ltd meets rigorous standards for financial stability, operational integrity, and consumer protection in the UK market. This dual regulatory oversight across the EU and UK significantly enhances Profee’s credibility and demonstrates its commitment to operating within established legal frameworks in major financial jurisdictions.
Transparency in Legal Disclosures
The website includes links to important legal documents such as “User agreement,” “Terms & Conditions,” “Legal information,” and “Privacy policy.” This transparency is essential for users to understand their rights, the service’s obligations, and how their data is handled. Bananarepublic.eu Reviews
Explicitly mentioning “Third-party trademarks, logos, and other graphic or written elements are the intellectual property of their respective owners.
Information regarding these companies can be found on their official websites.
No affiliation should be implied between Profee and these entities” further demonstrates legal diligence and clarifies intellectual property boundaries.
Comparing Profee to Alternatives
While Profee presents itself as a robust solution, it operates in a competitive market.
Understanding its relative strengths and weaknesses compared to other services is key for potential users. Replacementkeys.co.uk Reviews
Key Differentiators
Profee seems to distinguish itself primarily through its speed, competitive exchange rates, and user-friendly interface. The claim of 90% of transfers arriving within minutes is a strong competitive edge over traditional banking and even some digital competitors that might have longer processing times. The stated commitment to “no hidden fees” and beneficial exchange rates directly addresses the cost concerns of users, an area where many traditional banks and some older money transfer services often fall short with higher fees and less favorable rates. The “no registration needed to receive money” feature also simplifies the process for recipients, which can be a major advantage in certain contexts.
Potential Areas for Consideration
While the website highlights many positives, a comprehensive review would also consider areas where users might look for more.
For instance, while it supports 60+ countries, some competitors might have an even wider network, or offer more diverse payout options beyond bank transfers e.g., cash pickup, mobile wallets in all supported countries. Users might also look into the specifics of exchange rate fluctuations and how Profee’s “beneficial” rates compare to live interbank rates or other services like Wise formerly TransferWise or Remitly for specific currency corridors.
The first free transfer is attractive, but subsequent transfer fees would need to be carefully evaluated, particularly for frequent users.
The Competitive Landscape
The international money transfer market is crowded with various players, each with its own niche: Easy-watches.com Reviews
- Traditional Banks: Often reliable but typically slower and more expensive with less favorable exchange rates.
- Specialized Online Remittance Services e.g., Wise, Remitly, Xoom: These are Profee’s direct competitors, known for competitive rates, varying speeds, and diverse payout options. Wise, for instance, focuses on mid-market rates and transparent, low fees, while Remitly often targets specific corridors with varied speed options.
- Digital Wallets e.g., PayPal, Revolut: Offer money transfer capabilities but might have different fee structures, speed, and country coverage, sometimes with higher costs for international transfers depending on the specific service and amount.
Profee’s strength lies in its clear focus on speed, competitive rates, and simplicity, which are crucial for the bulk of remittance users.
Its regulatory compliance across multiple jurisdictions also provides a strong foundation of trust that stands up against established players.
Frequently Asked Questions
Is Profee.com a legitimate money transfer service?
Yes, based on the website’s information, Profee.com appears to be a legitimate money transfer service.
It is operated by Sibilla Solutions LTD, which is regulated as an Electronic Money Institution EMI by the Central Bank of Cyprus, and for UK residents, services are provided by Paymentz Ltd, licensed by the Financial Conduct Authority FCA.
How fast are Profee transfers?
Profee claims that for “more than 90% of our transfers, the money is credited to the bank account within minutes.” This indicates a strong emphasis on rapid transfer speeds. Gymwarehouse.ie Reviews
What countries can I send money to with Profee?
Profee supports transfers to over 60 countries worldwide, including popular destinations like India, Uzbekistan, Kyrgyzstan, Tajikistan, Kenya, Nigeria, Philippines, Brazil, Pakistan, and many more across Europe, Asia, Africa, and North America.
Are there any hidden fees with Profee?
No, Profee explicitly states “No hidden fees” and emphasizes transparency, indicating that all fees and exchange rates are visible upfront before you confirm a transfer.
Is my first transfer free with Profee?
Yes, Profee offers “no fee for your first transfer,” though it notes this excludes some receiving options.
Do recipients need to create a Profee account to receive money?
No, Profee clearly states that recipients “Do not need to sign up to get the money.” They simply need to provide their bank account details to the sender.
How does Profee ensure the security of my money and data?
Profee employs several security measures, including PCI DSS certification, compliance with EU standards, a Tier4 Data Center for data protection, 2-step verification for login, and 3DS security for online payments to mitigate fraud risks. Insulation4us.com Reviews
What is the customer support availability for Profee?
Profee’s support team operates from 9:00 to 22:00 UTC+03:00 seven days a week and can be reached via in-app chat, email [email protected], or phone +357 22 000 253.
Does Profee have a mobile app?
Yes, Profee offers a mobile app available for download via QR code that allows users to send money, check transfer history, and manage their account on the go.
What are Profee’s exchange rates like?
Profee claims to offer “Beneficial exchange rate,” suggesting competitive rates designed to maximize the amount of money received by your recipient.
What awards or recognitions has Profee received?
Profee highlights several awards, including Best Global Remittance Company 2023, Best International Money Transfer Solution 2024, Fastest growing Money Transfer platform in Europe, Best Client-Orientated Fintech Company 2023, and One of Cyprus top 10 startups 2023.
Can I earn rewards by referring friends to Profee?
Yes, Profee has a referral program where you can “Refer our service to your friends, get rewarded when they start sending money” to specific countries like India, Uzbekistan, Kyrgyzstan, Tajikistan, Kenya, Nigeria, Philippines, Brazil, and Pakistan.
Who regulates Profee.com?
For EU residents, Profee is regulated by the Central Bank of Cyprus.
For UK residents, services are regulated by the Financial Conduct Authority FCA.
What payment methods can I use to send money with Profee?
While the website doesn’t explicitly list all payment methods, it typically implies card payments given PCI DSS certification and 3DS security and bank transfers as common funding options.
Can I track my money transfer with Profee?
Yes, the website mentions that users can “check the transfer history” via their account on the website or mobile app, suggesting that tracking capabilities are available.
What is the maximum amount I can send with Profee?
The website mentions “Limits” in its footer, indicating that there are specific maximum transfer amounts, which would likely depend on account verification levels and destination countries.
Users would need to check this section for details.
How does Profee compare to traditional banks for international transfers?
Profee positions itself as a faster and more cost-effective alternative to traditional banks, emphasizing lower fees and more beneficial exchange rates, alongside quicker transfer times.
Are Profee’s services available 24/7?
While transfers can likely be initiated 24/7 via the app or website, customer support has specific operating hours: 9:00 to 22:00 UTC+03:00 seven days a week.
What is 3DS security, and why is it important for Profee users?
3DS 3-D Secure is an authentication protocol designed to enhance the security of online credit and debit card transactions.
It helps prevent fraud by verifying the cardholder’s identity, which is important for Profee users as it adds an extra layer of protection to their payments.
Does Profee handle corporate transfers or only personal remittances?
Based on the homepage text focusing on “supporting your loved ones” and personal testimonials, Profee primarily appears to cater to personal international remittances rather than large-scale corporate transfers, although specific details would be in their terms of service.
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