Profee: Handy And Quick Money Transfer Solution

What is Profee?

Profee is a provider of international money transfer services that you can trust. It is an Electronic Money Institution that a team of FinTech and eCommerce professionals launched in 2017. Through its unique online remittance solutions, people can send and receive fast, secure, cheap, and convenient payments to and from Visa and Mastercard cards in over 40 countries. Profee lets you make instant card-to-card transfers in three minutes when you register for a personal account with it. Many people use Profee as their most favourable alternative to sending funds via wire transfers via banks or as an alternative to other money transfer service providers on the market. 

Apart from money transfers, Profee helps you with the management of your personal finances thanks to its electronic wallet and prepaid Visa cards. You can keep your money in up to four currencies with the Profee multicurrency e-wallet for iPhones and Android phones: euro (€), British pound sterling (£), US dollar ($), and Russian ruble (₽). Both its contactless physical cards and digital cards are denominated in euros and can be used for payments in any currency (purchase fee for transactions in other currencies applies). While the digital card can be used for payments instantly, once you order the physical card, it will be sent to your home address.

Now, in terms of operations, Sibilla Solutions Limited is the company that controlsProfee. It has a licence which allows it to do business as an electronic money institution (EMI). It is regulated by the Central Bank of Cyprus and its license is passported across all the EU member states; therefore, it complies with all the regulations of the European Union (EU) concerning EMIs. 

Is Profee safe? 

Yes, Profee is safe. Customer security and safety come first in the brand’s priorities. That is why Profee assures its present and potential customers that every money transfer they make through the app or digital wallet is in line with the rules of Visa, Mastercard, and international regulators.

Since Profee is operated by Sibilla Solutions, which follows all EU regulations, you can rest assured that your money is safe. According to European law, every EMI operating in and from its member countries must keep all of its customers' funds separate from the company's own balances. This rule is to ensure that customers’ funds are not used to finance the company's operations. Therefore, there is no reason to worry about your funds being kept in the account with Profee.

Furthermore, every year, Profee is certified for compliance with PCI DSS security standards at the highest certification level. It has a secure infrastructure, monitors online transactions to prevent fraud, uses 3D Secure for card payments and two-factor authentication for account security, guarantees SSL end-to-end data encryption, and complies with the EU’s general data protection regulation. This is additional proof that online payments are safe and secure with this money transfer service provider. (If you would like to know more about PCI DSS, 3D Secure, SSL encryption, and other terms linked to accepting online payments safely, read this post on our website.)

Profee fees 

The fee that Profee charges for its money transfer transactions are low. It will be charged depending on the currency pair, the transaction amount, the corridors that you are sending the money from/to, and the means used by Profee to deliver the payment (meaning other payment service providers).

If we talk about transfers between Profee users within the e-wallet, then these are free. Profee also allows its customers to get their account statements for free. There are several other fees that depend on whether you are using a physical card or a digital card, as well as the level of your Profee account. The account options available to you are Basic, Plus, and Premium.

Profee charges different fees for its digital and physical Visa cards. You do not need to pay to use its digital card, but you will have to pay €9.99 for its physical contactless card to be issued to you. Here is a breakdown of Profee Visa card fees.

Note: You can find the up-to-date breakdown of all Profee fees and account limits here.

Countries where Profee works

As of May 2022, Profee account holders can send money to 47 countries within minutes. The footprint of Profee money transfer destinations covers many countries in Europe and a few other counties in Asia, Africa and America. The company allows you to open an e-wallet account and quickly transfer money from many European countries to others within and outside Europe. 

The list of countries where Profee users can send a money transfer includes Austria, Belgium, Germany, Italy, Spain, Netherlands, Russia, and Ukraine. Money transfers can also be completed to Rwanda and Canada. A full and up-to-date list of destination countries can be found on the Profee website countries section. 

It is important to note that the Profee e-wallet account is only available for registration to the residents of the European Economic Area countries, while the countries where funds can be sent also include countries outside of EEA.

Features

Profee has impressive features that help the brand to deliver a lasting positive experience to its customers. Here are the notable features of Profee:

• An attractive and intuitive website for brand information, account creation, and money transfers.
• A user-friendly mobile app that is available for download on the App Store and the Google Play Store.
• Personal accounts and tailor-made solutions to businesses to support specific needs.
• Secure infrastructure with the latest security technology for EMIs.
• Physical Visa contactless cards and instant digital Visa cards for online and in-store payments.
• Multi-currency e-wallet account.
• Domestic and international ATM withdrawals.
• 24/7 multilingual customer support.
• A blog with interesting articles about FinTech, money transfers, and digital technology trends.

Setting up account

You can register for an account with Profee in a few simple steps, using its website or mobile app. To use its website, click on the “Sign Up” link and choose your preferred sign-up option between “Send money” and “Personal finance.” With the former, you can send money from any country in the European Economic Area to any Visa or Mastercard card; while the latter allows you to own a multicurrency account and plastic and virtual cards. When you have selected your choice, you will have to provide any information that is required in the next stage.

Alternatively, you can create an account in three simple steps while completing a money transfer:

• Enter amount and currencies – the exchange rate that applies to your transfer can be seen on the homepage of the website, so you just need to enter the amount you want to transfer, choose the sending and receiving currencies, and click send.
• Register an account – the next step is to provide some personal details so that an account can be created for you.
• Provide card details – Enter the details of the cards of the sender and receiver, hit send, and confirm the transaction through an SMS code that will be sent to you.

The requirements for creating a Profee account are simple and easy to meet. First of all, you must not be below the age of 18, because the payment system does not allow the creation of accounts for kids, teens, or minors. Having said that, all you need to do to have a Profee account is provide the following information using its application form:

• your name
• date of birth
• nationality
• residential address
• email address
• and mobile phone number.

Although additional documents may be required to verify your identity, they are usually easy for most customers to provide. Upon successful registration, you can use your account to send and receive funds at any time. However, there is a limit on the transaction amount you can make monthly or yearly, and this depends on the level of your account.

Who is Profee for? 

Profee is a dependable money transfer service for individuals in Europe. It allows them to send and accept payments domestically and internationally. However, individuals below the age of 18 are not allowed to use this payment system.

Conclusion

Ordinary internet users can use Profee to meet their money transfer needs in a cheap, fast, and secure way. Its Visa cards linked to the e-wallet can be used to make payments for goods and services online and in-person. Create an account with Profee today to enjoy its many benefits.